Deliverable zinc stocks in Shanghai Futures Exchange-registered warehouses increased the most in percentage terms by 3% or 1,423 tonnes to 49,370 tonnes in the week to Friday October 9.The main inflows came into the R&S Logistics warehouse in Shanghai - which received 1,134 tonnes to total 4,418 tonnes on October 9, up from 3,284 tonnes the week before - and the Kangyun Xiaoshan warehouse in Zheji...Read More
Prices for cold-rolled and galvanized steel sheet in the United States strengthened for the ninth consecutive week, with market participants increasingly anticipating tight spot availability to persist into 2021. Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US was at $39.50 per hundredweight ($790 per short ton) on Thursday October 8, up by 1.3% from $39 per...Read More
Domestic steel rebar prices in Poland were stable in the week to October 9, despite a slowdown in buying activity, with producers reluctant to cut prices due to short supplies, sources told Fastmarkets on Friday.Buying activity in Poland slowed down after widespread restocking last week, they added.Customer were asking for lower prices due to a decline in scrap costs, but producers...Read More
Domestic prices for hot-rolled coil in Northern Europe moved down day on day on Friday October 9 amid slow trading activity, sources told Fastmarkets.Buyers have been largely holding back from making new deals until a further price trend becomes clear. Domestic HRC prices, however, are unlikely to move down substantially, market sources said.Fastmarkets calculated its daily steel HRC index, domest...Read More
Indian domestic prices for secondary steel billet have gone up by 400 rupees ($5) per tonne week on week following rises in the costs of raw materials such as direct-reduced iron (DRI).The price of steel billet, domestic, exw India, was assessed by Fastmarkets on Friday October 9 at 29,700-29,900 rupees ($403-406) per tonne, compared with 29,300-29,500 rupees per tonne last week."Billet prices had...Read More
Scrap prices across the global markets moved down in the week ended Friday October 9, largely due to Turkey's return to the market, although making purchases at lower prices than previously.Turkish steel mills purchase cargoes at lower pricesUS export market follows Turkish leadVietnam reports thin tradingTaiwanese scrap import market dips ahead of holidayIndian material booked at lower prices.Tur...Read More
The price of austenitic stainless steel scrap in the UK domestic market edged up this week on higher nickel costs, sources told Fastmarkets on Friday October 9. Fastmarkets' weekly price assessment of stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?850-900 ($1,000-1,058) per tonne on Friday, up by ?20 from ?830-880 per tonne a week ago.Read More
The import pig iron market in the United States was calm during the week to Friday October 9 with both buyers and sellers preferring to wait and see where the Chinese market will turn after their return from the Golden Week holiday.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $370-375 per tonne on Friday, unchanged week on week."Nothing has happened this week [in...Read More
Brazil's export pig iron market was quiet in the week to Friday October 9 because market participants in China were away for the National Day holiday and due to long lead times for delivery, sources said. Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $352-355 per tonne on Friday, widening upward from $352-353 per tonne one week earlier. Offers for Braz...Read More
Prices in the market for inter-merchant light iron scrap in the UK softened over the week to Friday October 9 after a steady run since September 11, industry sources have told Fastmarkets.Weaker conditions in the European steel scrap export markets to Turkey and the Indian subcontinent have pulled British domestic offer prices downward, they said.Fastmarkets' weekly price assessment for steel scra...Read More
The price of shredded scrap imported into India continued to decline in the week to Friday October 9 following a flurry of trades at lower prices, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $305.74 per tonne on Friday, down from $308.27 per tonne one week previous and the fourth consecutive week of downward movement. Prices i...Read More
Turkish steel mills continued their deep-sea scrap purchases at the end of the week after securing lower prices, sources told Fastmarkets on Friday October 9.A steel mill in the Marmara region booked a cargo from the United States, comprising 38,000 tonnes of HMS 1&2 (80:20) at $283 per tonne and 2,000 tonnes of plate and structural (P&S) at $293 per tonne cfr.Thursday's deals for HMS 1...Read More
Seaborne iron ore prices were up on Friday October 9 after the return of active trading from Chinese market participants and post-holiday restocking activities, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $125.72 per tonne, up $2.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.79 per tonne, up $2.30 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116....Read More
Seaborne premium hard coking coal prices declined on Friday October 9 after sources told Fastmarkets that state-owned steel mills in China had received notification in late September not to import coking coal from Australia after October 1.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.84 per tonne, down $2.28 per tonne Premium hard coking coal, cfr Jingtang: $141.15 per tonne, down $...Read More
The three-month nickel price on the London Metal Exchange was the standout performer during morning trading on Friday October 9, with strong buying activity pushing the metal above nearby resistance levels, while high-volume trading saw LME zinc futures clear $2,400 per tonne in a 2.1% upsurge.Nickel's outright price on the LME was recently trading at $15,010 per tonne on Friday morning, climbing...Read More
China's domestic rebar price moved up on Friday October 9, with market participants returning from a week-long holiday to celebrate the country's National Day.DomesticEastern China (Shanghai): 3,670-3,700 yuan ($540-545) per tonne, up by 40 yuan per tonneNorthern China (Beijing) weekly assessment: 3,630-3,680 yuan per tonne, up by 60-90 yuan per tonneDemand for rebar strengthened in the past eight...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process...Read More