Seaborne iron ore prices edged lower on Friday November 12, after more steel mills took the opportunity to carry out blast furnace maintenance after margins tightened significantly over the week, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.69 per tonne, down $2.88 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.39 per tonne, down $2.64 per tonn...Read More
The seaborne low-volume pulverized coal injection (PCI) cfr price plummeted in the week to November 12 on the latest trades and offers. The fourth round of Chinese domestic coke price cuts began, and seaborne coking coal prices in both the cfr and fob markets were relatively flat on Friday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $522.01 per tonne, unchangedHard coking coal,...Read More
A likely decline in the South Korea domestic steel scrap price and lower Japan export and local prices has resulted in a drop in buying interest in South Korea in the week to Friday November 12, sources told Fastmarkets.South Korea bids lower for Russia import scrapTokyo Steel announces another drop in domestic scrap buy priceBuying interest for scrap minimal in China amid volatile finished steel...Read More
Brazilian slab export prices increased in the week ended Friday November 12, with producers raising offers but negotiations slow due to uncertainty in the flat steel markets.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $730-760 per tonne on Friday November 12, up from $730-740 per tonne a week before.Offers were reported at $740-760 per tonne fob, with the...Read More
The United Kingdom inter-merchant light-iron steel scrap spot price was steady for the second consecutive week as of Friday November 12, with tight supplies from lower scrap generation and competitive dockside trading supporting the British domestic market, trade sources said.The UK market has also garnered support from domestic monthly prices into British steelworks that settled ?20-25 ($27-33)...Read More
Steel wire rod prices were largely unchanged in the week ended Friday November 12, but mills are mulling an attempt to increase offers for December, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was stable at 3,850-3,950 zloty ($954-979) per tonne on November 12.Trading during the assessment period was slower than the...Read More
Domestic steel rebar prices in Poland held stable during the week to Friday November 12 amid slower buying activity, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was unchanged week on week at 3,700-3,750 ($917-929) zloty per tonne on Friday.Trading activity was rather slow over the past seven days, partially due to a shorter working...Read More
The market for pig iron exports from the south of Brazil remained stable during the week ended Friday November 12 due to limited trading.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-510 per tonne on Friday, unchanged week on week.Read More
The United Kingdom inter-merchant light-iron steel scrap spot price was steady for the second consecutive week as of Friday November 12, with tight supplies from lower scrap generation and competitive dockside trading supporting the British domestic market, trade sources said.The UK market has also garnered support from domestic monthly prices into British steelworks that settled ?20-25 ($27-33)...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 12.Zihao Li, Yingchi Yang and...Read More
Prices for flat-rolled steel products imported into South America fell further in the week to Friday November 12 amid lower offers from China and weakening demand from clients on both coasts of the continent, market participants have said.January-shipment negotiations had not yet gained traction, with buyers holding back in anticipation of even cheaper offers and with traders concerned about booki...Read More
Local and export prices for hot-dipped galvanized coil decreased in Turkey in the week to Friday, November 12, with buyers holding back in anticipation of further price falls, sources told Fastmarkets.Demand for color-coated coil in the domestic market, meanwhile, improved because of low stock levels at end users, the sources added.Domestic pricesFastmarkets' weekly price assessment for steel HDG...Read More
Domestic prices for steel rebar have been reduced in Brazil for November orders, with previous discounts from mills consolidating at even lower levels, Fastmarkets heard on Friday November 12.Market participants were still seeing room for a price increase given the much higher import offers, and there were reports of some attempts for a 7% rise, but delivery at stable prices until the year-end was...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Production output for mining companies across base metals is likely to remain low despite significant additional capacity because miners face challenges from climate disruptions, ageing mines and Covid-19-related delays, Australian consultancy and research firm Cape Noir said on Thursday November 11."A lot of assets are showing declines in production and rolling delays to maintenance. Assets have...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Chinese exporters of ammonium paratungstate (APT) tried to hold their offers firm this past week, despite the overall export market being inactive and domestic prices in China falling, according to sources.Fastmarkets' weekly price assessment for tungsten APT 88.5% WO3 min, fob main ports China was $313-319 per metric tonne unit (mtu) on Wednesday November 10, widening downward by $2 per mtu from...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
The gap between spot prices for ferro-chrome in China and major stainless steel mills' November tender prices narrowed in the past week, with the former sliding further on destocking pressure while contract buyers showed more willingness to pay more to secure their feedstock.Taiyuan Iron & Steel Group (Tisco) and the Baosteel Group both raised their November tender prices for high-carbon ferro-chr...Read More