December 2018

EUROPEAN MORNING BRIEF 28/12: Soft dollar supports most SHFE base metals; Chinese antimony market weakens; Zhuzhou Smelter starts new project trial production

Good morning from Fastmarkets MB’s offices in Asia as we bring you the latest news and pricing stories on Friday December 28.

East Asian stainless steel market quiet amid sparse bids and offers

Import prices for stainless steel in East Asia moved up over the past week in the absence of low offers from certain mills, although trading activity remained muted amid soft demand due to the year-end holiday season.

Chinese stainless steel prices edge down ahead of year-end

China’s domestic stainless steel prices widened lower over the past week due to inactive trading ahead of the year-end.

Major Chinese stainless steel mills cutting January ferro-chrome tender prices by 50 yuan per tonne

China’s leading stainless steel mills - Tsingshan Group, Taiyuan Iron & Steel (Tisco) and Baosteel - have lowered their January tender prices for high-carbon ferro-chrome, pressured by declining stainless steel prices and relatively high steel stocks at plants.

GLOBAL CHROME WRAP: Chrome ore, ferro-chrome prices unchanged in China; market awaits direction from January tender release

Ferro-chrome and chrome ore prices in China were unchanged in the week ended Friday December 21 amid low liquidity while market participants awaited January ferro-chrome tender prices from major Chinese stainless steel mills.

EUROPE VANADIUM SNAPSHOT: V2O5, ferro-vanadium prices plummet amid year-end trader selling and improved availability

Key data from the Friday December 21 pricing session in London.

EUROPE STAINLESS STEEL: Slow December demand caps off a poor fourth quarter

December was a slow month for stainless steel demand in Europe, according to distributors who have also complained since October of diminishing margins.

FOCUS: Why China’s implementation of new rebar policy is failing to support vanadium prices

Revised standards for rebar in China have failed to lend continued support to vanadium prices in the country since their introduction in November, primarily due to enforcement of the standards not being as stringent as previously expected, market sources told Fastmarkets.

China AM: Iron ore futures buck downtrend again

Ferrous futures in China fell during morning trading on Thursday December 20, apart from the iron ore contract which posted small gains during the session.

East Asian stainless steel prices continue slide on year-end lull

Import prices for stainless steel in East Asia continued on a downward trend over the past week amid the year-end lull.