Steel scrap prices in the major regions started to weaken during the working week from Monday June 22 to Friday June 26, amid softening demand.Turkish mills booked only two deep-sea cargoes this weekUS export prices down $6 per tonneSteady demand could not prevent prices weakening in VietnamImport prices down in Taiwan ahead of festival periodLower prices entice buyers in India.TurkeyTurkish steel...Read More
The price of ferrous scrap in containers imported into India moved down this week with fresh transactions breaking the trade stalemate and confirming the market level, sources told Fastmarkets on Friday June 26.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $274.28 per tonne on Friday, down from $282.25 per tonne on June 19.Market sources reported offer...Read More
Turkish steel mills skipped the last working day of the week with no deep-sea bookings, but still expect to buy more cargoes for August shipment, sources told Fastmarkets on Friday June 26.The country's steelmakers have booked only two deep-sea cargoes so far this week, totalling 67,500 tonnes. A steel mill in the Iskenderun region booked a 27,500-tonne US cargo, comprising HMS 1&2 (80:20) at $26...Read More
Seaborne iron ore prices were stable on Friday June 26 due to China's absence from the market during the Dragon Boat Festival holidays, with no visible trading activity seen on platforms or in spot market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $103.34 per tonne, unchanged. 62% Fe low-alumina fines, cfr Qingdao: $106.49 per tonne, unchanged. 58% Fe fines high-grade premium, cfr Qing...Read More
China's public holiday for the Dragon Boat Festival kept the seaborne coking coal market muted for a second day on Friday June 26.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.79 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $122.83 per tonne, unchangedHard coking coal, fob DBCT: $89.57 per tonne, unchangedHard coking coal, cfr Jingtang: $101.01 per tonne, unchangedA bi...Read More
Markets were mainly firmer this morning, Friday June 26, with the base metals up across the board and most Asian-Pacific equities indices showing gains, while gold prices were consolidating - all of which suggesting a slight risk-on sentiment.Pre-market major European equity index futures were up by around 0.7%, following gains in the United States on Thursday.Global trade dropped by 12.1% in Apri...Read More
Seaborne premium hard coking coal prices were unchanged on Thursday June 25 amid an absence of Chinese market participants due to a public holiday in China to mark the Dragon Boat Festival.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.79 per tonne, unchanged. Premium hard coking coal, cfr Jingtang: $122.83 per tonne, unchanged.Hard coking coal, fob DBCT: $89.57 per tonne, unchangedHa...Read More
The cobalt alloy grade, in-whs Rotterdam 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 alloy...Read More
The cobalt standard grade, in-whs Rotterdam 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...Read More
Prices for bulk cargoes of steel scrap imported to South Korea fell sharply in the week to Friday June 26 amid a decline in Japanese offer prices, sources told Fastmarkets.High prices for Japanese cargoes had forced Korean mills to procure scrap from Russia and the United States in recent weeks. One mill purchased 32,000 tonnes of HMS 1 scrap from the US West Coast on June 12 for $282 per tonne cf...Read More
Import prices for containerized ferrous scrap in Taiwan softened this week with buyers slowing down their purchases ahead of the Dragon Boat Festival on Thursday and Friday, which reduced the number of working days.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $245 per tonne on Friday June 26, unchanged f...Read More
Import prices for ferrous scrap in Vietnam trended downward during the week to Friday June 26 despite steady demand among buyers.A transaction involving a bulk cargo of Japanese H2 scrap was heard to have been concluded at $265 per tonne cfr southern Vietnam on Tuesday, but by the end of the week, another 5,000 tonnes of the same grade of steelmaking raw material changed hands at $253 per tonne cf...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
The three-month price of lead on the London Metal Exchange continued its upward trajectory at the close of trading on Thursday June 25, closing more than 1% higher and topping gains across the base-metals complex.But a steady uptick in copper futures over the afternoon was not enough to breach nearby resistance.Lead's outright price on the LME closed at $1,786 per tonne on Thursday afternoon, near...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Thursday June 25. Key drivers: The most recent deal concluded on a fob Gladstone, Australia, basis at $261 per tonne for 30,000 tonnes with loading in the second half of July. A power outage at Hydro's Paragomias bauxite mine means production output at the Alunorte alumina refinery has been reduced to...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Thursday June 25. Key drivers: The most recent deal concluded on a fob Gladstone, Australia, basis at $261 per tonne for 30,000 tonnes with loading in the second half of July. A power outage at Hydro's Paragomias bauxite mine means production output at the Alunorte alumina refinery has been reduced to...Read More
Turkish steel producers returned to the deep-sea scrap market on Thursday June 25, attracted by lower prices, sources told Fastmarkets.A steel mill in the Osmaniye region booked a 27,500-tonne US cargo, comprising HMS 1&2 (80:20) at $261 per tonne, shredded at $266 per tonne and bonus scrap at $271 per tonne cfr. The cargo's composition was not clear at the time of publication.The previo...Read More
Prices for deep-sea origin steel scrap imported to Bangladesh fell over the past week after a new sale from the United States closed at lower numbers, market sources told Fastmarkets on Thursday June 25. A Bangladeshi mill purchased a bulk cargo from the US Pacific Northwest region comprising 13,000 tonnes of HMS 1&2 (80:20) at $275 per tonne cfr and 24,000 tonnes of shredded at $280 per tonne cfr...Read More
Broader markets were generally weaker this morning, Thursday June 25, with those equity markets that were open in the Asian-Pacific region mainly weaker by between 1% and 2%.Pre-market major western equity index futures were down this morning, following Wednesday's weakness. Gold prices hold up in high ground around $1,760 per oz.International Monetary Fund (IMF) cuts world growth forecast again,...Read More