The current conditions in the zinc concentrate market are the biggest challenge to operating Noranda Income Fund's (NIF) processing facility profitably, the company said. NIF, which owns the Canadian Electrolytic Zinc (CEZ) facility in the Canadian province of Quebec, said that the supply tightness in the zinc concentrate market was the result of several large mine closures in recent years and str...Read More
The London Metal Exchange has addressed a series of proposals put forward to market participants in a consultation period that began in early August, introducing key rulebook and procedural amendments in conjunction with its Strategic Pathway initiatives first introduced in 2017.Structured around key initiatives set out in 2017 to drive market growth, market feedback from the consultation has prom...Read More
The latest metal markets news and price moves to start the North American day on Friday November 9. Base metals on the London Metal Exchange were mostly lower during morning trading on Friday November 9, failing to match upward momentum across Asian sessions amid strong economic data on Chinese exports. The three-month lead price was the biggest loser, falling 2% from yesterday's close to $1,...Read More
Fastmarkets MB reviews the major stories that have affected the steel market during the week ended November 9.Raw Materials Japanese H2 scrap continued to lead price falls in the Asia markets amid weak demand from end users and bearish sentiment among traders.It is unlikely that there will be any spot-market activity in 2019 for direct-reduction (DR) grade iron ore pellets, according to...Read More
Steel consumption in Latin America was expected to grow by 3.10% in 2019, compared with this year, according to regional steel association Alacero.The region's steel use was expected to reach 70.60 million tonnes next year, from an estimate of 68.50 million tonnes in 2018, the association said on Tuesday November 6."Latin America is on the path for a slow economic recovery," Alacero...Read More
Domestic prices for coated steel coil products in Turkey were stable in the week ended Friday November 9, with demand increasing slightly.The local market has been slow for a long time but some bookings were heard this week, even if the market cannot be described as very active.Market participants were not expecting any sharp movement in demand or prices before the end of the year, because buying...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transactions: HRC, CRC, HDG, PPGIHot-rolled coilTurkey, domestic, hot-rolled coil, offered at $530-550 per tonne ex-works, December production.Turkey, domestic, hot-rolled coil, traded a...Read More
Sentiment in Turkey's flat steel market remained negative in the week ended Friday November 9, with some prices going down, sources told Fastmarkets.Market participants did not expect local demand to improve until at least the end of 2018, because of the unwillingness to restock before the year-end.In addition, some buyers are having payment problems because sellers will not accept long-term payme...Read More
Imports of hot-dipped galvanized steel coils and sheets from China and Vietnam into Malaysia will be subject to provisional anti-dumping duties ranging from 3.33% to 16.13%, Malaysia's ministry of international trade and industry announced on Thursday November 8.The duties will be effective for no longer than 120 days beginning on November 8.They are a result of the preliminary determination in Ma...Read More
The import price for steel billet in Southeast Asia remained flat on Friday November 9 amid a lack of trading activity, with many buyers and sellers taking a wait-and-see approach.Fastmarkets' daily price assessment for billet imported into Southeast Asia was $505-510 per tonne cfr Manila on Friday, unchanged since October 30.No major deals were reported during the week amid a wide bid-offer sprea...Read More
Key data for the pricing session for the week ended Friday November 9. China Domestic ferro-chrome spot prices continued to soften slightly amid ongoing weak market sentiment. The UG2 chrome ore index dropped amid low liquidity, with buyers and sellers failing to agree a price in a falling market. The imported charge chrome...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday November 9:Noble alloysMolybdenum US canned molybdic oxide, $/Ib $11.90-12.10 per Ib from $12.00-12.10Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $28.50-29.00 per kg from $28.75-29.00Ferro-vanadium basis 78% min, free delivered duty paid, $/kg: $124-126 per kg from $120-125Vanadium pentoxi...Read More
Global lithium prices have stabilized ahead of 2019 contract price negotiations after 10 months of a downward price trajectory. The domestic Chinese spot market has become static ahead of 2019 contract price negotiations, with market participants spoken to by Fastmarkets expecting stable spot prices to continue into the following week. Battery-grade lithium carbonate and hydroxide spot prices in C...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday November 9.Most base metals prices on the Shanghai Futures Exchange were up during Asian morning trading on Friday November 9, buoyed by the modest pick-up in risk-on sentiment following China's release of positive economic data for October. Check Fastmarket MB's live futures report her...Read More
Scrap prices in the major global markets softened slightly during the working week from Monday November 5 to Friday November 9, with the exception of the United States.Export scrap prices out of the US were firm, with a number of sales heard out of the country's East Coast, although demand for material from the West Coast was limited.Meanwhile, the prices of scrap in Turkey, India and Asia mostly...Read More
Prices for light iron scrap in the United Kingdom were steady this week, consolidating a rise of ?5 ($7) per tonne over the week before, sources told Fastmarkets on Friday November 9.This increase reflected the fundamental pattern of domestic business conditions and a similar pattern in key export destinations, they added.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an in...Read More
The Turkish steel producers went through Friday November 9 without making any deep-sea scrap market transactions but were still expected to continue their purchases next week, Fastmarkets has heard.The mills in the country had booked a number of cargoes so far this week. The latest transaction from the United States included HMS 1&2 (80:20) priced at $338 per tonne cfr on November 8.But news...Read More
The price of shredded ferrous scrap imported into India remained stable this week because the Diwali religious festival mid-week meant that there was no trading, sources told Fastmarkets on Friday November 9.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $355.30 per tonne cfr Nhava on November 9, down only slightly from $355.52 per tonne cfr Nhava Sheva on Nov...Read More
Pig iron booking prices in the United States have not gone up during the week ended Friday November 9 despite the renewed strength of the scrap market.Fastmarkets' price assessment for US imports of pig iron decreased to $370-385 per tonne cfr on Friday November 9, from $375-390 per tonne a week before.Several bookings of Ukraine- and Russia-origin pig iron were heard at $385 per tonne cfr for Dec...Read More
Demand for pig iron exported from Brazil improved during the week ended Friday November 9 because of an expected reduction in supply when the rainy season starts.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region on November 9 was $346-348 per tonne fob, down from $350 per tonne in the first change in price since late September.A supplier in southe...Read More