The price of shredded ferrous scrap was stable this week with many market participants on holiday to celebrate the Holi festival in the country, sources said on Friday March 22.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $335.75 per tonne cfr on March 22, largely unchanged from $335.29 per tonne cfr on March 15. This week deals were heard for shred...Read More

Seaborne iron ore prices rose on Friday March 22 after cyclone updates from Australia led to supply concerns and pushed up swaps prices.MB 62% Fe Iron Ore Index: $85.96 per tonne cfr Qingdao, up $1.47 per tonne. MB 62% Fe Pilbara Blend Fines Index: $85.08 per tonne cfr Qingdao, up $1.47 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.35 per tonne cfr Qingdao, up $1.71 per tonne. MB 58% Fe Pre...Read More

Import prices for ferrous scrap in Asia moved in different directions this week amid mixed market fundamentals, participants told Fastmarkets on Friday March 22.VietnamThe uptrend in Vietnam's scrap import prices came to a halt this week, amid a slowdown in procurement activity and falling bid levels, market sources said.Fastmarkets' weekly import price assessment for HMS 1&2 (80:20) sol...Read More

Southwest China's Kunming Intermediate People's Court will fine the Fanya Metal Exchange 1 billion yuan ($149.39 million) for violating national law and illegally raising funds from the public, according to local media reports on Friday March 22, with minor metals markets now wondering how funds will be raised. Shan Jiuliang, board chairman and president of Fanya, was sentenced to 18 years' impris...Read More

Comex copper prices failed to hold onto previous gains on Friday March 22, with a stronger dollar and concerns over global economic growth weighing on the base metals complex.The copper price for May settlement on the Comex division of the New York Mercantile Exchange tumbled 3.50 cents to $2.8710 per lb. The contract has been unable to generate a consistent direction over the last two weeks, with...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade.The Canadian Dollar dropped 0.16 to 74.84 cents U.S. following economic news released at 8:30 AM EDT. Consensus for January Retail Sales was an increase of 0.4% versus a downwardly revised drop of 0.3% in December. Actual was a drop of 0.3%. Consensus for the February Canadian Consumer P...Read More

Base metal stocks on Shanghai Futures Exchange-approved warehouses showed divergent trends during the week ending Friday March 22, with zinc stocks falling by 6.5% but those of aluminium, tin and lead rising. Deliverable zinc stocks at SHFE-approved warehouses declined by 8,064 tonnes, or 6.5%, week on week to 115,974 tonnes. This week Qisheng saw the most stock leaving from sheds - 9,086 ton...Read More

Warrant traders are reporting a big spike in Korean aluminium warrant premiums amid a substantial supply shortage in the region, Fastmarkets understands.Offers for aluminium warrants have been reported to Fastmarkets at $50-60 per tonne this week, considerably higher than earlier in the month. "You could get hold of Korean aluminium warrants for $30 per tonne a few weeks ago," a Europe-based...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday March 22*Copper -$149.47 (-1,004.15 yuan) Aluminium -$272.87 (-1,833.22 yuan) Zinc -$177.11 (-1,189.87 yuan) Nickel -$306.22 (-2,057.26 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using...Read More

Prices for seaborne coking coal sold to China picked up more downward momentum on Friday March 22 following the conclusion of a transaction below prevailing levels.A cargo of a top Australian brand, scheduled for loading in end-April, was sold at $208 per tonne cfr China to a Chinese trader, various sources said. This is $4 per tonne lower than a transaction involving the same brand that was concl...Read More

The following Fastmarkets minor metals prices changed on Friday March 22:Minor metalsCobalt MB free market standard grade, $/lb: $13.30-14.20 per lb from $13.30-14.25Cobalt MB China domestic, yuan/tonne: 250,000-285,000 yuan per tonne from...Read More

An overview of the Chinese minor metals markets and the reasons for any price moves.Read More

With three-month base metals prices on the London Metal Exchange having come off their weekly highs, most metals remained under selling pressure and have continued to consolidate this morning, Friday March 22.The initial weakness seen in the dollar index following the surprisingly dovish tone struck by the US Federal Open Market Committee (FOMC) at the conclusion of their meeting on Wednesday prov...Read More

In mid-2000, one of the most successful advertising campaigns running was Capital One's "What's In Your Wallet?" Remember the commercials?The first year the ads ran, Captial One total US accounts went from 29MM to over 40MM and card consideration among consumers tripled! This was the first time ever Capital One executed a sustained advertising campaign and they knocked it out of the park. But if...Read More

In America we value our independence... our ability to live where we want and not have to rely on others. But as we age, that independence can come at a high price...While working we might live in a spacious house on a quiet cul-de-sac street, and don't venture outside to meet our neighbors. Then after retiring, we downsize to a smaller home - a condo or townhouse - in a 55+ community and remain s...Read More

The price range in Europe for grade-304 stainless steel cold-rolled (CR) sheet widened upward this week, with some of the higher offers heard last week finally being accepted by buyers, although business was also done at the same prices as before, Fastmarkets heard on Friday March 22.Despite the partial increase, buyers said that many offers were still considered to be unrealistically high, and th...Read More

Some ferro-chrome suppliers to China have been charging the country's domestic stainless steel mills wider premiums to monthly tenders amid strong demand, market sources told Fastmarkets. Domestic Chinese stainless mills release yuan-based tender prices every month, announcing the price they are prepared to pay for ferro-chrome from domestic suppliers. Overseas ferro-chrome suppliers are often exp...Read More

China's leading stainless steel mills announced increases in their April tender prices for high-carbon ferro-chrome by 300 yuan ($45) per tonne month on month on Friday March 22.The rises will be imposed by Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel, Fastmarkets heard.After this adjustment, Tisco's April tender price for high-carbon ferro-chrome will be 6,950 yuan ($1,038) per tonn...Read More

China's importers of stainless steel billet and slab, as well as stainless hot-rolled plate and coil originating from the European Union, Japan, South Korea and Indonesia have been instructed to pay a deposit to the country's customs authorities from Saturday March 23 onward.This is a preliminary measure relating to an ongoing anti-dumping probe into such imports, which is expected to come to a co...Read More

The following Fastmarkets non-ferrous European free market scrap prices changed on Friday March 22:The following Fastmarkets non-ferrous European free market scrap...Read More