December 2023

Iron ore prices rise amid positive expectations for China next stimulus measures, uptick in crude steel output

Seaborne iron ore prices edged up on Thursday, December 7, amid positive market sentiment and elevated crude steel output, sources told Fastmarkets.

Containerized scrap offers to Taiwan well supported by bullish sentiment in Turkey

Spot prices for steel scrap imported into Taiwan continued to trend up on Thursday December 7 due to bullish sentiment in major importer Turkey, which has led to suppliers in the US raising their offers to Taiwan.

Chinese pig iron import prices rise after confirmation of elevated trades

Chinese import prices for basic pig iron rose in the two weeks to Thursday December 7, after trades were confirmed at higher prices, sources told Fastmarkets.

China’s domestic rebar prices rise further on high raw material costs

China’s domestic rebar prices remained on an uptrend on Thursday December 7 due to the higher prices for raw materials and positive steel export data released on the same day, sources said.

Correction to China PCI import indices: pricing notice

Fastmarkets has corrected its index assessment for pulverized coal injection, low-vol, cfr Jingtang, $/wmt, MB-COA-0007, which was published incorrectly on Monday December 4 and Tuesday December 5, due to an error.

Amendment to iron ore 65% Fe Brazil-origin fines index specifications from January 2 2024: pricing notice

At the start of 2024, Fastmarkets will amend the MB-IRO-0009 Iron ore 65% Fe Brazil-origin fines, cfr Qingdao, $/tonne index to more closely align with the Brazilian high-grade Carajas fines it seeks to reflect.

Turkish deep-sea scrap market still silent; market expects price uptick

Turkish steel mills continued to be absent from the deep-sea ferrous scrap import market on Wednesday November 6 amid surging scrap offers and a slow price increase of domestic finished steel, sources told Fastmarkets.

Seaborne iron ore prices rise on restocking demand

Seaborne iron ore prices rose on Wednesday December 6 in line with futures and swap prices, demand for seaborne cargoes increasing on restocking demand, and slightly improved import arbitrage, sources told Fastmarkets.

Asian coking coal prices rise on strong platform buying interest; cyclone still a concern

Most Asian coking coal prices rose on Wednesday December 6 amid strong purchasing interest on the globalCOAL trading platform, market sources told Fastmarkets.

Vale cuts iron ore quality premium projection for 2023; predicts challenging year for 2024

Brazilian miner Vale has reduced its iron ore quality premium projection for 2023 to $3 per tonne from the previous expectation of $8 per tonne amid demand challenges, company executives said on Tuesday December 5.