Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
Slower spot activity prevented any changes to the US Midwest aluminium premium although deals were still concluded at high end of Fastmarkets' assessment range on Tuesday August 24.While a lack of market liquidity combined with slow demand kept European and Asian premiums static, Brazilian premiums rose slightly thanks to higher offers.US Midwest market flat after reaching record highPremiums in E...Read More
Stainless steel scrap prices in the United States declined slightly while consumer demand weakened due to maintenance outages and some production difficulties.One stainless steel melting facility has a one-week maintenance outage scheduled for September, and another stainless mill has been experiencing some production problems, according to some scrap dealer sources. As a result, those mills have...Read More
Hot-rolled coil prices in the United States have slipped below $96 per hundredweight ($1,920 per short ton), with some participants indicating that the market was stalling temporarily before spot offers open from September.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.31 per cwt ($1,906.20 per ton) on Wednesday August 25, down by 1.28% from $96.55 per cwt on Tu...Read More
Trading activity in the Commonwealth of Independent States' export long steel market remained sluggish in the week to Wednesday August 25 amid slow demand from Europe due to holidays in the region as well as continuing competition with Turkish suppliers.Turkish steel producers decreased their export offers for rebar to $680-695 per tonne fob on an actual weight basis last week, against $695-705 pe...Read More
Prices for containerized steel scrap imported into Taiwan remained flat on Wednesday August 25, but sources said the outlook in the market was shaky for the coming month.Taiwan buys containerized scrap at $440 per tonne in recent dealsWide bid-offer gap cfr China scrap persistsDeal at lower price heard for shredded scrap to IndiaTaiwanThere were transactions concluded at $440 per tonne cfr Taiwan...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt sulfate...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday August 25.Key drivers The titanium alloy market was steady in the assessment week, with suppliers holding their offer prices steady ahead of an expected renewal of demand from steelmakers for both prompt and fourth-quarter deliveries. Industry sources reported hearing some offer prices close to $8 per kg, with the emergence of some...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More
Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
Domestic hot-rolled coil prices in China stemmed their recent rally on Wednesday August 25 while industry data points to an output increase in mid-August.DomesticEastern China (Shanghai): 5,690-5,720 yuan ($879-883) per tonne, widening downward by 20 yuan per tonneThe China Iron & Steel Association (Cisa) said on Tuesday morning that daily crude steel output from its member mills average...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
Sentiment was mixed in the European hot-rolled coil market on Wednesday August 25, with activity starting to recover slowly after holidays, sources told Fastmarkets.Buyers who have returned to the market after the traditional holiday period in August were taking their time before making deals, believing that prices would decline. Mills, in the meantime, felt no pressure to make deals at discounts...Read More
The Turkish steel producers resumed their deep-sea scrap purchases with a European cargo deal, market participants told Fastmarkets on Wednesday August 25.A steel mill in the Iskenderun region booked the Belgian cargo comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The transaction is for prompt shipment.The HMS 1&2 (80:20) price of...Read More
Participants in the seaborne alumina market have an increasingly bullish outlook for prices amid operational disruptions at the Jamalco refinery in Jamaica following a fire on Sunday August 22.The fire started at refinery's separate powerhouse, which produces the energy needed for the refining of alumina at the plant.Though a full assessment of the damage has yet to emerge, market participants are...Read More
The Turkish steel producers resumed their deep-sea scrap purchases with a European cargo deal, market participants told Fastmarkets on Wednesday August 25.A steel mill in the Iskenderun region booked the Belgian cargo comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The transaction is for prompt shipment.The HMS 1&2 (80:20) price of...Read More
Domestic prices for cold-rolled coil in Europe moved down slightly in the week to Wednesday August 25 with sentiment among buyers turning negative, sources told Fastmarkets.Buyers believed that prices would go down because of the sharp decline in iron ore costs last week, competitive import offers and the continuing shortage of semiconductors, which was limiting car manufacture."Automotive product...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
Iron ore prices mostly increased on Wednesday August 25 despite weaker trading activity in the physical market, especially at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $148.66 per tonne, up by $2.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $148.95 per tonne, up by $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116.96 per to...Read More