Export billet prices from the Commonwealth of Independent States (CIS) region declined at the beginning of the week, pressured by low prices and poor demand.Lower import scrap prices in Turkey as well as low demand in major sales outlets due to the summer slowdown were the main reasons for the negative mood."[The] market seems very soft. August is a quiet month in general as well," a Europe-based...Read More
Prices for steel hollow sections in Europe remained unchanged on Wednesday August 11 with the market moving through a seasonally slower period of trading, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,642-1,677) per tonne on Wednesday, unchanged week on week."Prices remain above ?,?1,400 per tonne,...Read More
Ferrous scrap exports from the United States tumbled by 20.68% month on month in June, with shipments to Turkey down by two thirds compared with May, according to the latest data from the US Census Bureau.Ferrous scrap exports dropped to 1.61 million tonnes in June from 2.03 million tonnes in May and 1.63 million tonnes in April.Exports to Turkey, typically the top buyer of US ferrous scrap, plumm...Read More
US East Coast ferrous scrap export prices continue to face downside pressure following a recent cargo sale to Turkey, while business activity off the West Coast remains muted. A Turkish steel mill bought a United States-origin cargo for September shipment comprising 30,000 tonnes of heavy melting scrap 1&2 (80:20) at $461 per tonne as well as 5,000 tonnes of shredded and 5,000 tonnes of bonus, bot...Read More
Turkish steel mills remained out of the deep-sea scrap market on Wednesday August 11, booking no new cargoes, sources told Fastmarkets.With no new transactions heard, the market remained steady.A small number of older cargo deals had come to light at the start of this week, for material...Read More
Japanese steel scrap exporters were unwilling to part with large tonnages of material at current market prices ahead of a long holiday in the country starting this week, sources told Fastmarkets on Wednesday August 11.Japanese sellers cautious about new salesLarge gap between containerized and bulk-shipment prices for Taiwan imported scrapChinese scrap import market quiet despite futures gains; pr...Read More
Seaborne coking coal prices increased in the fob Australia market amid increased buying interest on Wednesday August 11, while the cfr China market stayed strong due to domestic supply tightness, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $222.09 per tonne, up $0.98 per tonneHard coking coal, fob DBCT: $195.91 per tonne, up $5.75 per tonnePremium hard coking co...Read More
Iron ore prices went up on Wednesday August 11 following the uptrend in steel and coke prices, but the demand outlook remained bearish, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $165.48 per tonne, up by $3.04 per tonne62% Fe low-alumina fines, cfr Qingdao: $165.97 per tonne, up by $3.22 per tonne58% Fe fines high-grade premium, cfr Qingdao: $134.28 per tonne, up by $3.34...Read More
Australia's Port Hedland shipped lower volumes of iron ore in July month on month, according to data from the Pilbara Ports Authority (PPA) released on Wednesday August 11.The port on the northern coast of Western Australia exported 44.3 million tonnes of iron ore in July - a 12.1% drop compared with the 50.4 million tonnes shipped in June. On a year-on-year basis, exports...Read More
China's domestic hot-rolled coil prices extended their gains on Wednesday August 11 after futures prices rose for a second straight day on higher market expectations of an output drop and demand recovery from low summer trading.DomesticEastern China (Shanghai): 5,820-5,860 yuan ($897-903) per tonne, up by 40-60 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange hit an intr...Read More
Base metals prices were mixed on the London Metal Exchange during morning trading on Wednesday August 11 and were largely consolidating following Tuesday's highs after the United States Senate passed a $550 billion infrastructure package."The passing of the US infrastructure bill bodes well for the base metals as the spending is focused on upgrading the US transport system. Some $550 billion will...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday August 11Key drivers The titanium alloy market was steady for the third consecutive week during the week to Wednesday August 11 amid reported buying interest for various grades.The European alloy market is facing a potential shortage of supply from Russia through the rest of the year after new Russian export duties were set from the...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...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, in-whs...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....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.Read More
Base metals prices on the LME were mainly weaker this morning, Wednesday August 11, after average rebound gains of 1.4% on Tuesday, while SHFE base metals prices were mainly stronger in reaction to yesterday's LME gains.US Senate passes $1 trillion infrastructure bill, focused on the transport system Wall Street set fresh record highs on Tuesday US dollar strong and climbing and US treasury yields...Read More
Stainless steel sheet prices in the United States surged to decade highs in July due to increasing mill base price and rising surcharges.Buyers, who were unable to buy sufficient metal on allocation from mills, reported that non-mill sources prices rose sharply, widening the spread between the two. Fastmarkets' monthly assessment for stainless steel 304 cold-rolled sheet, fob mill US was $179...Read More
Spot ferro-chrome prices in China continued to correct downward after peaking at a 13-year high point at the end of July, despite the continuing output restrictions caused by power supply limitations in a number of production regions.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 400-500 yuan to 10,400-10,800 yuan ($1,603-1,665) per tonne on Tuesday...Read More
Union leaders and the operating company of Chile's Escondida mine have agreed terms on a new collective bargaining agreement, potentially avoiding a proposed strike at the world's largest copper mine.In a statement reported in the Chliean daily El Mercurio, operating company Minera Escondida said: "The company and the directors of the Union No1 have concluded negotiations [on a] collecti...Read More