NEWS: 24.09.12
Top Head Lines for the Day
*** PM justifies reforms, seeks nation's support
*** Chinese bismuth prices continue up
*** Chinese ferro-silicon market quiet on slow demand
*** Russian ferromolybdenum market stable with bright market outlook anticipated
*** Russian magnesium prices firm, deals quiet
*** Russian high carbon ferrochrome market in thin trading
*** Russian silicomanganese market flat
*** Russian ferrosilicon 45%min market remains stable
*** Russian ferrotitanium market stays calm
*** Russian ferrovanadium market unchanged with poor activity
*** Silicon metal market slow in Russia
*** Russian pig iron price stable but weak
*** Global Steel Scrap Markets sluggish, most prices weaken
*** All scrap reference prices move further downwards
*** Local scrap prices in Turkey continued to fall last week
*** Nickel Surpasses USD8 per lb
*** LME Aluminium may Break Below $2,120 and Fall to $2,071
*** Chinese bismuth prices continue up
*** Chinese ferrosilicon export market keeps dim
*** Chinese ferrosilicon trader hardly to get profit
*** Chinese ferromolybdenum market sees low price
*** Chinese Bismuth prices increase
*** Chinese ferromolybdenum market sees low price
*** Chinese domestic tin prices keep falling
*** Indian iron ore exporters hope to see a favorable market in October
*** India's steel exports down by 1% in Apr-Aug
*** Indian Non Ferrous scrap metal prices show mixed trend
*** US scrap prices drop in early September
Indian iron ore exporters hope to see a favorable market in October
The monsoon season is likely to end next month, and under the stimulation policy released by Chinese government, the iron ore export market in India seems to become active in the near future. Insiders deem the export market will recover in October. An iron ore trader from Rourkela discloses to Asian Metal that the current market price of 63.5%min iron ore maintains at USD112-114dt CFR China.
Russian ferrosilicon 45%min market remains stable
Insiders reported that Russian ferrosilicon 45%min market remained stable with unchanged prices recently. Current mainstream prices for ferrosilicon 45%min keep at RUB34.5-36.0kg USD1,106-1,154t. A Moscow-based ferroalloy trader who trades 200-300tpm of ferrosilicon reported that he cites at RUB37.8kg
Indian Non Ferrous scrap metal prices show mixed trend
Indian scrap metal prices showed a mixed trend on Friday, both in Mumbai and Delhi metal market.
In Mumbai metal market, copper heavy scrap and copper utensil scrap prices remain unchanged on Friday while copper cable scrap, copper armetur and copper sheet cutting prices declined by Rs 1000 per ton, Rs 2000 and Rs 4000 per ton, respectively.
Brass utensil scrap, brass sheet cuttings and aluminum utensil scrap prices also traded lower in Mumbai metal market on Friday
Meanwhile, in Delhi metal market, copper scrap prices surged by Rs 8 per kg to Rs 450 per kg on Friday. Copper bars and copper rod prices also traded higher on Friday, both advanced by Rs 2 per kg to Rs 508 per kg and Rs 506 per kg.
Following are the metals prices in Mumbai on Friday (Prices in Indian Rupee per ton)
Copper Wire Bars / 520000 / 521000
Aluminium Ingots / 147000 / 147000
Zinc slab / 142000 / 142000
Lead ingot / 127000 / 126000
Tin slab / 1300000 / 1300000
Nickel Cathode / 1100000 / 1100000
Scrap
Copper cable scrap / 492000 / 493000
Copper heavy scrap / 484000 / 484000
Copper armetur / 473000 / 475000
Copper utensil scrap / 450000 / 450000
Copper sheet cutting / 466000 / 470000
Brass utensil scrap / 327000 / 329000
Brass sheet cuttings / 335000 / 336000
Aluminum utensil scrap / 119000 / 120000
Delhi metal prices in Indian Rupees per kg
Metals / Friday / PreviousCopper Bars / 508 / 506
Copper Rod / 506 / 504
Copper Scrap / 450 / 442
Zinc Ingots / 138-154 / 137-152
Tin Ingots / 1275 / 1270
Nickel Strip
4 x 24 “ Inco / 1205 / 1210
4 x 4 “ Inco / 1165 / 1170
4 X 4" / 1040 / 1045
Aluminium Ingots / 126-148 / 126-148
Lead Ingots / 120-140 / 120-140
US scrap prices drop in early September
The scrap prices have stayed in downward trend in the United States domestic market in early September this year.
In August, as most steelmakers predicted that the scrap prices would continue falling to September, they purchased huge amounts of scraps in August, causing the purchase volumes drop in September.
At present, the H1 scrap prices in the Midwest America have decreased by US$15~US$20/long ton to US$349~US$354/ton. The shredded scrap prices have fallen by US$23~US$28/long ton to US$372~US$377/ton.
Also, the scrap prices have dipped by US$15/long ton in Eastern America.
It’s analyzed that the weak demand and decreased prices for finished steel products have caused the price dip in the US scrap prices.
LME Price Highlights:
--Aluminium alloy declined 1.48% to $1995 a metric ton
--Aluminium declined 1.31% to $2095 per metric ton
--Copper declined 1.47% to $8200 a metric ton
--Lead dipped 1.93% to $2227 per metric ton
--Nickel declined 1.01% to $17595 per metric ton
--Tin declined 4.41% to $20550 per metric ton
--Zinc dipped 1.73% to $2068 a metric ton
– Steel rose 1.53% to $325 per metric ton
Russian pig iron price stable but weak
Russian pig iron market has not seen improved demand from downstream market since the beginning of September. Transactions keep slight, and values for pig iron пл1 and пл2 hover at RUB14,000-14,500t USD437-453t at the present.
Values of Russian steel scrap stable
Russian steel scrap market keeps sluggish with stable prices as well as softening downstream demand. Market prices of 3A steel scrap hold at RUB7,200-7,500t USD232-241t VAT excluded.
Taiwan’s stainless steel scrap imports down by 2% m-o-m in August
According to statistics, Taiwan imported 22,941 tons of stainless steel scraps in August, down by 2% in comparison of 23,491 tons in July.
The average import prices of stainless steel scraps were at NT$53,593/ton, falling by NT$2,359/ton from a month ago.
In August, the US was the largest stainless steel scrap exporter to Taiwan with 9,700 tons; Australia was the second largest one with 3,240 tons; the UK was the third largest one with 2,601 tons.
In the first eight months of this year, the country’s imports of stainless steel scraps amounted to 210,000 tons, rising by 10% year on year.
Meanwhile, Taiwan exported 2,015 tons of stainless steel scraps in August, decreasing substantially by 60% from a month earlier. The average export prices were at NT$41,289/ton.
Steel melting scrap price update on September 20
Melting scrap
80:20
HMS
Bangalore / 0
Chennai / 0
Hyderabad / 0
Kandla / -100
Kanpur / 0
Kolkata / 0
Ludhiana / 0
Mandi / -178
Mumbai / 0
Rudrapur / 0
Change is on 20th September as compared to 19th September 2012
Change is in INR per tonne
Rebar TMT QST price down in Mandi on September 20
TMT
Fe 415
Ahmedabad / 0
Bangalore / 0
Chennai / 0
Delhi / 0
Hyderabad / 0
Indore / 0
Kanpur / 0
Kolkata / 0
Ludhiana / 0
Mandi / -208
Mumbai / 0
Raipur / 0
Rudrapur / 0
Muzaffarnagar / 0
Change is on 20th September as compared to 19th September 2012
Change is in INR per tonne
Pencil ingot price movement in major places on September 20
Pencil ingot
Location / ChangeAhmedabad / 0
Alang / 0
Bhiwari / 0
Chennai / 0
Durgapur / 0
Ghaziabad / 0
Hyderabad / 300
Jaipur / -200
Jamshedpur / 0
Ludhiana / 0
Kanpur / 0
Kolkata / 0
Mandi / -200
Mumbai / 0
Muzaffarnagar / -192
Nagpur / 0
Raigarh / -104
Raipur / -100
Rourkela / 0
Rudrapur / 0
Change is on 20th September as compared to 19th September 2012
Change is in INR per tonne
Steel angle price down in Mandi on September 20
ANGL
GR A
65X6
Ahmedabad / 0
Bangalore / 0
Chennai / 0
Delhi / 0
Indore / 0
Kanpur / 0
Kolkata / 0
Ludhiana / 0
Mandi / -220
Mumbai / 0
Raipur / 0
Rudrapur / 0
Change is on 20th September as compared to 19th September 2012
Change is in INR per tonne
Sponge iron price update on September 20
Sponge iron
Location / ChangeBellary / 200
Kolkata / 0
Ludhiana / 0
Raigarh / 0
Raipur / -100
Rourkela / 0
Change is on 20th September as compared to 19th September 2012
Change is in INR per tonne
Tokyo Steel cuts scrap purchase prices by JPY 500
Japan's largest electric steelmaker Tokyo Steel Mfg Co has reduced what the company pays for locally available ferrous scrap by a uniform JPY 500 per tonne for all grades at its four works and its Takamatsu steel center, effective with September 13th 2012 arrivals.
As a result, the new delivered prices of No2 HMS are JPY 26,000 per tonne for seaborne overland arrivals at the Tahara works; JPY 27,000 per tonne for seaborne arrivals and JPY 26,500 per tonne for overland arrivals at the Okayama works; JPY 26,500 per tonne for seaborne overland arrivals at the Kyushu works; JPY 26,000 per tonne for overland arrivals at the Utsunomiya works and JPY 25,000 per tonne for seaborne overland arrivals at the Takamatsu steel center.
Chinese ferro-alloys prices for Chinese electrolytic manganese and ferro-titanium drop
Chinese electrolytic manganese and ferro-titanium prices edged down as consumer demand weakened in the past week, while other ferro-alloy markets were quiet with prices fluctuating little. TITANIUM SPONGE Major Chinese titanium sponge producers are planning to increase output in the fourth quarter in response to dry weather
Chinese ferro-silicon market quiet on slow demand
China's ferro-silicon market has been quiet in the past couple of weeks even though the Government has stepped up its drive to curtain a considerable amount of smuggling of this product in the borders .These smuggled Ferro silicon is turning out to be a threat to the Export sales . Severe steps are being taken to curtail the same . However the demand from domestic and exports have not pickup yet in spite of Price slashes as they are not competitive in the already slowed trading and waning demand from downstream customers.
S.G. cast iron prices stable and prices increase slightly in some regions
S.G. cast iron prices remained stable in Hubei recently. Most Hubei-based foundries purchase S.G. cast iron from Shanxi and purchase prices of S.G. cast iron Q10 keep at RMB2,800-2,850t VAT included Ex works currently with an expectation to increase slightly. A source from Hubei-based Kaiqi Casting Plant noted that S.G. cast iron prices hovered low recently. Wuan, at RMB2,970-3,000t in Xingtai, and at RMB2,990t in Qianan, all on VAT included Ex works basis. The number of cast iron Z18 is at RMB3,000t VAT excluded Ex works in Wuan. A source from a Xingtai-based iron plant noted that the price of S.G. cast iron increases today.
cast iron market face Flat deals::
Flat deals appeared in Xinjiang cast iron market recently. Currently, values keep at RMB2450t for cast iron Z18 in Fukang and at RMB2380-2400t in Kezhou, all on basis of VAT included Ex works. A source from a Changji-based iron plant stated that cast iron prices remained stable recently. He cited cast iron Z18 at RMB2,450t VAT included Ex works with flat deals
Chinese ferrosilicon export market keeps dim
Currently Chinese ferrosilicon export market stays at a dim level influenced by the gloomy global economy. The mainstream prices decreased to USD1,310-1,330t FOB China for ferrosilicon 75%min and USD1,285-1,305t FOB China for ferrosilicon 72%min, a large decline of RMB20-25t compared with those of last week.
Global Foundry Materials Trend Headlines for the Day
· Chinese waste molybdenum market remains dim
· Chinese ferromolybdenum market sees low price
· Chinese ferromolybdenum market moves smoothly
· Processing charge of A356 aluminum alloy still low
· Chinese lead ingot market consolidates with dull buying interest
· Weak sentiment in secondary aluminum alloy ingot market
· Few deals in Chinese zinc ingot market
· Tin concentrate prices stable
· Slow transactions in manganese flake market
· Few Chinese manganese slag producers in operation
· Chinese domestic tin prices keep falling
· Low carbon ferromanganese price stable in Hunan
· Chinese high carbon ferromanganese demand unimproved
· Ethylene glycol antimony price holds firm
· Little change in copper trading
· Chinese ferrosilicon export market keeps dim
· Inventory of Chinese ferrosilicon 72%min short in Gansu
· Tungsten concentrate price still stable
· Poor demand in rough sintered NdFeB 35H market
· Chinese silicon metal export market sees few transactions
· High-grade silicon metal prices in Yunnan turn stable
· Higher-purity magnesium ingot selling slowly
· South Korean ferromolybdenum dealers in aggressive quotations to win deals
· Limited buying activities in PrNd oxide market
· Bismuth prices increase
· Selenium dioxide demand slow
· Selenium prices continue to rebound
· Russian ferrovanadium market unchanged with poor activity
· Russian ferrotitanium market stays calm
· Russian ferrosilicon 45%min market remains stable
· Russian silicomanganese market flat
· Russian high carbon ferrochrome market in thin trading
· Nickel cathodes H1 price up in Ural, Russia
· Russian magnesium prices firm, deals quiet
· Russian ferromolybdenum market stable with bright market outlook anticipated
· Russian A7 aluminium ingot price stable
· CIS selenium powder suppliers reluctant to sell products
· Silicon metal market slow in Russia
Chinese domestic tin prices keep falling
Tin prices in China kept declining in the past few days, and buying activities in the domestic market kept inactive. A producer in Yunnan with the output of around 100tpm noted that they did not conclude deals last Friday. “Tin prices were at about RMB158,000t USD25,079t last Friday in the local market.
NMDC to review iron ore prices on Oct 1
NMDC has also decided to rope in an international consultant for devising a proper and professional pricing policy in place of the pricing formula currently followed