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Argus Metal Prices Global Market Prices, News and Analysis Argus Metal Prices Global market prices, news and analysis Issue 18-20 Tuesday 30 January 2018 OVERVIEW MARKETS The Turkish ferrous scrap import price fell below $350/t cfr Key prices for premium HMS 1/2 (80:20) on new sales from the US and Timing Low High ± Europe. Ferrous $/t HMS 1/2 80:20 cfr Turkey 30 Jan 348.80 -3.70 Iron ore fines 62% Fe cfr Qingdao 30 Jan 73.40 -0.50 The Argus daily fob Turkey rebar price assessment slipped HMS 1/2 80:20 cfr Taiwan 26 Jan 340.00 345.00 -7.50 to $555/t on the back of lower offers. HMS 1/2 80:20 fas Los Angeles 26 Jan 310.00 330.00 -15.00 Shredded scrap fas New York 26 Jan 340.00 350.00 -2.50 Pig iron basic cfr New Orleans 26 Jan 400.00 405.00 -2.50 Asia-Pacific seaborne steel prices rose as mills updated of- Rebar fob Turkey 30 Jan 555.00 -2.50 fers, while domestic prices in China fell in sluggish trade. Stainless steel scrap prices $/lb 304 (18-8) solids del US processor 30 Jan 0.6400 0.6500 nc 304 (18-8) scrap solids cif Rotterdam 25 Jan 0.6300 0.6400 +0.0300 US processor buying prices for stainless steel scrap were Aluminium prices unchanged as three-month LME nickel declined on the day A380.1 secondary alloy del US $/lb 25 Jan 0.9800 1.0000 +0.0150 after sharp gains last week. ADC 12 fob China $/t 30 Jan 2,005 2,025 nc Zorba cif China $/lb 26 Jan 0.7100 0.7400 nc 10/10 extrusions scrap del US $/lb 30 Jan 0.8400 0.8700 +0.0400 Mill-grade aluminum scrap spreads weakened in the US Scrap cans (UBCs) del US $/lb 24 Jan 0.7600 0.7700 -0.0050 after most rolling mills completed February purchases. Taint/Tabor del European smelter €/t 26 Jan 1180.00 1320.00 10 P1020 duty paid spot premium cif Japan 24 Jan 95.00 110.00 +102.50 $/t Cobalt spot demand outpaced supply, lifting weekly prices P1020 US midwest transaction $/lb 30 Jan 1.1206 1.1311 -0.0103 6063 extrusion duty paid spot IW Rot- 24 Jan 340.00 370.00 nc for 99.8pc metal to $37.90-38.50/lb. terdam $/t Copper, brass prices Cathode grade A premium in-warehouse 30 Jan 30.00 45.00 nc Rotterdam $/t NEWS Cathode grade A US transaction price $/lb 30 Jan 3.2270 3.2345 -0.0010 Bare bright scrap US spot price $/lb 30 Jan 3.0270 3.0570 -0.0010 #2 scrap cif Asia ports transaction $/t 30 Jan 2.8495 2.8595 -0.0010 Nucor, SDI expect stable scrap prices ahead #2 scrap del Europe cash spread $/t 30 Jan 84.00 86.00 nc Brass alloy scrap, US Cu next active spread China's zorba imports rise in December 24 Jan -0.1800 -0.1600 nc $/lb AK Steel expects 'solid' 2018 demand Brass scrap US C260 transaction price $/lb 30 Jan 2.5637 2.5837 -0.0041 CFTC fines banks, individuals metals trade manipulation Ferro-alloys prices fob North America Egyptian Steel’s new micro-mill starts production Molybdenum 65% Mo, $/lb Mo 25 Jan 12.75 13.10 +0.10 Titanium 70% Ti $/lb 25 Jan 2.35 2.50 nc Ipsco Tubulars commences IPO Chrome HC 60-65% Cr, $/lb Cr 25 Jan 1.4200 1.4800 nc Manganese HC min 80% Mn $/lt 25 Jan 1485.00 1535.00 +40.00 Minor metal prices $/lb CONTENTS Silicon 5-5-3 98.5% Si fob 25 Jan 1.42 1.45 nc Titanium 85% Ti non-tin turnings 25 Jan 0.53 0.60 +0.03 Titanium 6Al 4V aero turnings 25 Jan 1.20 1.30 nc Commentary 2 Zinc prices Special high grade in-warehouse Rotter- 29 Jan 135.00 145.00 nc News 9 dam premium $/t Markets 15 Special high grade US transaction $/lb 30 Jan 1.7059 1.7159 -0.0113 Nickel cathode prices 4x4" premium in-warehouse Rotterdam $/t 25 Jan 420.00 460.00 nc Incorporating MetalPrices.com, Argus Weekly Heavy Melt and Ferrous Scrap Price Index 4x4" (truckloads) US transaction $/lb 30 Jan 2.0159 2.0259 -0.0113 Copyright © 2018 Argus Media group Argus Metal Prices Issue 18-20 Tuesday 30 January 2018 COMMENTARY Ferrous scrap prices, global $/t Price ± FERROUS HMS 1/2 80:20 cfr Turkey 348.80 -3.70 HMS 1/2 75:25 fob Rotterdam 321.90 -3.70 A3 cfr Marmara 339.20 -5.80 Turkey ferrous: US exporter trades below $350/t A3 fob Russia/Ukraine Black Sea 299.00 -7.50 The Turkish ferrous scrap import price fell below $350/t cfr HMS 1/2 80:20 differential fob Rotterdam to 75:25 3.00 nc Turkey for premium HMS 1/2 80:20 today on new sales from Shredded fob Rotterdam 329.90 -3.70 the US and Europe. Finished steel prices $/t The Argus daily HMS 1/2 80:20 cfr Turkey and HMS 1/2 Price ± 75:25 fob Rotterdam steel scrap assessments both decreased HRC cfr Asean 584.80 +0.50 $3.70/t to $348.80/t and $321.90/t, respectively. HRC fob China 581.10 +0.30 A US exporter sold 33,000t of HMS 1/2 80:20 at $348/t Rebar fob China 533.20 +0.80 and 7,000t of bonus at $358/t cfr Marmara for February Rebar cfr Asean 552.50 nc Rebar fob Turkey 555.00 -2.50 shipment yesterday afternoon, it was confirmed. The cargo Wire rod export, fob China 572.50 +0.10 was already sitting at a US east coast port in New Jersey last week. Steel billet Yn/t Market participants said the US exporter was keener to Price ± sell than its immediate competitors and many do not believe Tangshan ex works inc VAT (daily) 3,580.00 -10.00 the deal to be wholly representative of the market unless Stainless steel scrap prices del US processor $/lb other US exporters sell at that price. Three US exporters said Low High ± last week that they would not sell anywhere close to $348/t 304 (18-8) solids 0.6400 0.6500 nc cfr Turkey, but none expected at the time that the price 304 (18-8) turnings 0.5900 0.6000 nc would fall to that level. 316 solids 0.8600 0.8700 nc A continental European supplier sold 25,000t of HMS 1/2 316 turnings 0.7700 0.7800 nc 75:25, 7,000t of shred and 7,000t of a mix of P&S/HMS1 at an average price of $345/t cfr Iskenderun for beginning of March shipment yesterday afternoon, it was confirmed. further decrease of the cfr Turkey scrap price in the short- The new Turkish scrap import price level is now workable term, based on supply and demand fundamentals. Exporters for most continental European and US deep-sea scrap export- have shifted significant volumes of scrap in the past three ers. weeks and no longer have large stocks available, which will Another continental European supplier is expected to limit any further price decrease, while Turkish mills are close attempt to sell at a $348-350/t cfr Turkey equivalent price to recapturing their targeted $210/t scrap-rebar spread. tomorrow based on lower dockside purchasing prices that Turkish mills may attempt to realise opportunistic deals make this level viable. At least two UK deep-sea cargoes are at slightly lower prices but they are not expected to pub- still available for February shipment. licly push for a major decrease because they will now seek Many market participants expect that there will be no to stimulate their domestic finished product market, where Ferrous scrap deep-sea trades (average composition price, cfr Turkey) Index Date Volume, t Price, $ Shipment Buyer Seller Composition Confirmed relevant 30-Jan 40,000 348 (80:20) February Marmara USA 33k 80:20, 7k bonus Y Y 30-Jan 39,000 345 early March Iskenderun Belgium 25k 75:25, 7k shred, 7k P&S/HMS1 Y Y 24-Jan 31,000 354 (80:20) full February Marmara Scandinavia 9k 80:20, 16k shred, 6k bonus Y Y Ferrous scrap short-sea trades (average composition price, cif Marmara) Index Date Volume, t Price, $ Shipment Buyer Seller Composition Confirmed relevant No short-sea sales concluded since 10 January Copyright © 2018 Argus Media group Page 2 of 22 Argus Metal Prices Issue 18-20 Tuesday 30 January 2018 COMMENTARY Aluminium secondary alloy prices, Asia-Pacific $/t Low High ± demand continues to be weak. ADC 12 fob China 1,960 1,980 nc ADC 12 cif Japan 1,970 1,990 nc Short-sea bid indications for western Black Sea quality cargoes fell to $335/t cif Marmara for HMS 1/2 80:20 this Aluminium mill, extruder prices del US $/lb morning and Rostov suppliers conceded that their $345/t cif Low High ± Marmara offers for A3 material were not now achievable. No 10/10 extrusions 0.8400 0.8700 +0.04 Turkish mill surveyed today said they would pay $340/t cif 1100 & 3003 0.9300 0.9600 0.00 Marmara for Rostov A3 material. 5052 clips 0.9450 0.9650 +0.02 The Argus daily A3 cif Marmara steel scrap assessment 6061 new, bare 0.9200 0.9300 +0.01 6061 truck wheels 0.7600 0.7900 0.00 decreased $5.80/t to $339.20/t while the A3 Russia-Ukraine 6063 new, bare 0.9700 0.9800 +0.01 fob Black steel scrap assessment fell by $7.50/t to $299/t.
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