Domestic prices for hot-rolled coil in Northern Europe and Italy were broadly unchanged during the week to Friday August 20 amid low trading activity during the summer holiday slowdown.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,142.50 ($1,336.45) per tonne on Friday, down by ?,?0.63 per tonne day on day from ?,?1,143.13 per tonne. The index...Read More
China's domestic coking coal market rose sharply in the week to August 23 due to the supply shortage from Mongolia, which also weighed on market sentiment in seaborne coking coal prices in the cfr China market. The fob Australia market inched up amid steady buying interest for October-laycan cargoes, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $381.73 per to...Read More
China imported 88,218 tonnes of ferrous scrap in July, a 16% increase from June, according to the latest Chinese customs data.Of the total, 66,096 tonnes - or 74.92% - originated in Japan.South Korea remained China's second-largest scrap supplier in July, accounting for 14,464 tonnes (16.4%) of imports.Taiwan (3,590 tonnes; 4.07%) and Hong Kong (1,214 tonnes; 1.38%) were other significant sources...Read More
Prices for seaborne iron ore pellets and concentrate plunged further in the week ended Friday August 20 amid weak demand and a downtrend in the futures market.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $34.50 per tonne, down $6.70 per tonne. 65% Fe blast furnace pellet, cfr Qingdao: $207.74 per tonne, down $20.62 per tonne.66% Fe concentrate, cfr Qingdao: $16...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
Nickel and lead posted price increases of almost 2% in morning trading on the London Metal Exchange on Monday August 23, ahead of the Federal Reserve's Jackson Hole summit which starts on Thursday.Three-month nickel traded at $18,805 per tonne at 9am, up from Friday's $18,463-per-tonne closing price. The metal lost 5.4% of its value last week, with the spread of the Delta variant of Covid-19 denti...Read More
China's domestic rebar prices moved up on Monday August 23 on strengthening demand in many parts of the country, though heavy rain continued to keep demand in a few provinces subdued. DomesticEastern China (Shanghai): 5,130-5,170 yuan ($788-794) per tonne, up by 50-60 yuan per tonneConstruction activity has increased in large parts of China, such as the eastern and northern region, on clear weathe...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
The domestic hot-rolled coil market in Europe remained quiet on Monday August 23, with buyers and mills split over the price trend for September, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,143.33 ($1,337.42) per tonne on August 23, up by ?,?0.83 per tonne from ?,?1,142.50 per tonne on Friday August 20.The i...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Spot prices for steel rebar imports into Singapore dipped in the week to Monday August 23 amid pressure on traders to offload cargoes after iron ore prices collapsed last week.Traders were offering Indian rebar at $735-740 per tonne cfr Singapore on a theoretical weight basis, down by $5 per tonne from the previous week."The Hong Kong import market has also been receiving offers at these levels,"...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More