Export slab prices from the Commonwealth of Independent States (CIS) remained largely unchanged in the week to Monday August 16 on limited trading activity.Customers in Europe, particularly those in Italy, had little appetite for imported material due to the traditional holiday season in the region.Buyers from Turkey, meanwhile, were facing limited demand for finished...Read More
Export prices for steel billet from the Black Sea basin have continued to decrease in mid-August amid limited demand in most outlet markets and lower costs for scrap raw material globally.Customers from Europe were mainly out of the market due to the holiday season in that region, while Turkish buyers were not willing to pay more than $650 per tonne cfr (equivalent to $620 per tonne fob) due to th...Read More
Turkish steel producers started the week with a single deep-sea cargo, which further deepened the decrease in prices, market participants told Fastmarkets on Monday August 16.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 18,500 tonnes of HMS 1&2 (80:20) at $455 per tonne, along with 5,000 tonnes of shredded and 1,500 tonnes of bonus at $470 per tonne cfr.The previous cargo...Read More
Key participants in India's steel and scrap sectors welcomed the launch of the National Automobile Scrappage Policy at an investor summit held by Prime Minister Narendra Modi, with private companies signing Memoranda of Understanding (MoUs) to set up vehicle scrapping facilities, Fastmarkets has heard.The investor summit was held in Gujarat on August 13, and was addressed by Modi via video confere...Read More
Most iron ore prices increased on Monday August 16 despite limited trading activity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $163.52 per tonne, up $1.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $164.03 per tonne, up $1.29 per tonne58% Fe fines high-grade premium, cfr Qingdao: $131.47 per tonne, up $0.81 per tonne65% Fe Brazil-o...Read More
China's domestic coking coal prices continued higher in the week to August 16 due to a supply shortage, which buoyed seaborne coking coal prices in the cfr China market on Monday August 16.The fob Australia market held largely steady on the first working day of the weekFastmarkets indicesPremium hard coking coal, cfr Jingtang: $350.66 per tonne, up $5.66 per tonneHard coking coal, cfr Jingtang: $3...Read More
China's Covid-19 measures are causing chokepoints in the country's ferrous supply chain, raising logistical costs for both traders and steel mills.China's National Health Commission reported 51 new cases of Covid-19 on Monday August 16 - 38 imported cases and 13 locally transmitted ones. Six of the locally transmitted cases were in Jiangsu province, while six were detected in Henan. While the numb...Read More
Prices for seaborne iron ore concentrate and pellets fell in the week to Friday August 13 amid a bearish outlook for demand for the remainder of the year.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $41.20 per tonne, down $3.60 per tonne66% Fe concentrate, cfr Qingdao: $186.69 per tonne, down $20.97 per tonne65% Fe blast furnace pellet, cfr Qingdao: $228.36 per tonne, d...Read More
Eastern China's domestic rebar price decreased slightly on Monday August 16 after the National Bureau of Statistics (NBS) released housing industry data for July.DomesticEastern China (Shanghai): 5,190-5,220 yuan ($801-806) per tonne, down by 10 yuan per tonneThe total area used for new housing construction totaled 1.19 billion square meters in January to July, down by 0.9% year on year, while the...Read More
Hot-rolled coil prices in China's domestic market remained stable on Monday August 16, subdued by weak economic data but supported by a sharp decline in output.DomesticEastern China (Shanghai): 5,750-5,810 yuan ($888-897) per tonne, upward widening by 30 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange slipped to 5,675 yuan per tonne on Monday morning, before clawing bac...Read More
Most prices on the London Metal Exchange started the week on lower ground than last Friday on Monday August 16, following worse-than-expected Chinese economic data published over the weekend.Nickel's three-month price, for example, was down to $19,530 per tonne on Monday at 9am, from Friday's closing price of $19,656 per tonne after rising 5.6% from last Monday's $18,620 per tonne.Similarly, coppe...Read More
International cobalt metal prices softened on Monday August 16 with competitive offers emerging; some sellers are willing to drop their offers to take profits in a quiet market, sources said.Lower offers started to emerge last week and gradually brought downward pressure to the market amid thin liquidity, which is typical during the peak summer holiday period.Fastmarkets' assessment of the price o...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...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
Key data from the Friday August 13 pricing session in Shanghai.Key drivers China's domestic magnesium prices surged due to spot supply shortage from producers.Some producer sources said they had signed forward contracts with buyers, because they did not have spot material available for the...Read More
Key data from Friday August 13 pricing session in Shanghai.Key drivers Sellers reduced their offers in the hope of facilitating sales. Regular participants held their offers at 530-550 yuan ($82-85) per kg but offers below 520 yuan per kg were also...Read More
Fastmarkets today launches two daily indices for cfr China ferrous scrap prices, reported on a US-dollar-per-tonne basis.After the original consultation period for this proposed launch, which ended on August 9, Fastmarkets has launched its steel scrap, index, heavy recycled steel materials, cfr east China, $ per tonne and steel scrap, index, heavy recycled steel materials, cfr north China, $ per t...Read More
German steelmakers settled their monthly steel scrap contracts for August at lower prices, following the trend in international markets, sources told Fastmarkets.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of the material both from automotive producers and from flat steel service centres.Stoppages and reduced production rates in...Read More
Secondary aluminium ingot prices in Europe rose during the week to Friday August 13 due to surging costs for alloying elements. Despite quieter market conditions due to the seasonal summer lull, ingot prices rose in both Europe and the United Kingdom this week due to ascending prices for elements used in aluminium alloying such as silicon and copper. Fastmarkets assessed the price for aluminium sc...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US79.22 cents following release of July Canadian Housing Starts at 8:15 AM EDT. Consensus was a decline to 270,800 from upwardly revised 295,085 in June. Actual was 286,620.Index futures moved lower following release of the July Retail Sales...Read More