South American flat steel import prices did not show a clear trend in the week to Friday August 6, with some products being offered higher - especially due to tax rebate cuts in China - while others were down due to discounts or the absence of more expensive material in the market.Demand also took a hit during the period. Some customers were concerned that a Chinese export tax for hot-rolled produ...Read More
Brazilian slab export prices were stable in the week ended Friday August 6, with few deals booked.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was unchanged at $920-930 per tonne on Friday, though prices are down from $975-985 per tonne on July 23.Brazilian slab export prices have been affected by a similar drop...Read More
The tight Chinese domestic tin market may loosen after China's Yunnan Tin, the world's largest tin producer, resumed production in early August after its annual maintenance, sources said.Although a tin shortage remains in China, sources expect tightness to alleviate in the near future.Sources estimate that Yunnan Tin's maintenance reduced tin output by approximately 1,500-2,000 tonnes, althou...Read More
German industrial group Thyssenkrupp has agreed the sale of its Infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.The deal was expected to be closed later this year but will be subject to approval from merger control authorities as well as Thyssenkrupp's own supervisory board. The financial details of the...Read More
The domestic market for steel rebar in Poland was quiet during the week to Friday August 6 amid a seasonal slowdown in trading activity, but prices held firm, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 4,000-4,200 zloty ($1,041-1,093) per tonne on Friday, widening upward by 50 zloty from 4,000-4,150 zloty per tonne last week.T...Read More
Domestic steel wire rod prices in Poland were stable or fell only slightly over the past seven days with trading activity weakening, following the usual seasonal pattern, Fastmarkets heard on Friday August 6.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 4,100-4,250 zloty ($1,067-1,106) per tonne on August 6, widening from 4,200-4,250 zlo...Read More
Steel scrap prices in the key global markets moved down over the week to Friday August 6 with demand for material remaining tepid.Turkish mills make fresh bookings at lower pricesUS export prices consistent in recent bookingsVietnam scrap prices down on weak demandChinese import prices fall alongside domestic pricingTaiwanese scrap prices continue downtrend on poor demandIndian scrap offers withdr...Read More
The export market for pig iron from the Commonwealth of Independent States dropped during the week to Thursday August 5 on oversupply and short lead times. Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $550-580 per tonne on Thursday, down from $570-590 per tonne the previous week.The market level in the United States, which is the main pig...Read More
The US Dollar Index was at its highest since July 27 and was weighing on London Metal Exchange base-metal prices in the afternoon of Friday August 6, with all metals ending the week below where they were on Monday.The US index touched a week-and-a-half high of 92.84 on Friday afternoon, following the release of positive employment data in the country.There were 943,000 jobs added to the US economy...Read More
Steel scrap prices in the key global markets moved down over the week to Friday August 6 with demand for material remaining tepid.Turkish mills make fresh bookings at lower pricesUS export prices consistent in recent bookingsVietnam scrap prices down on weak demandChinese import prices fall alongside domestic pricingTaiwanese scrap prices continue downtrend on poor demandIndian scrap offers withdr...Read More
Turkey's domestic hot-rolled coil prices were largely stable in the week to Friday August 6 despite limited trading activity, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $1,010-1,050 per tonne on Friday, widening downward by $10 from $1,020-1,050 per tonne on July 30.Turkish HRC producers were offering material at $1,020-1,...Read More
The export market for pig iron from the Commonwealth of Independent States dropped during the week to Thursday August 5 on oversupply and short lead times. Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $550-580 per tonne on Thursday, down from $570-590 per tonne the previous week.The market level in the United States, which is the main pig...Read More
Turkey's domestic transaction prices for hot-dipped galvanized and pre-painted galvanized coil prices were mostly stable in the week ended Friday August 6 due to limited trading, sources told Fastmarkets.Domestic buyers have mainly been holding back from acquiring substantial material volumes, waiting for the trend to settle.Fastmarkets' assessment for steel HDG coil domestic, exw T...Read More
Chinese copper smelter Guangxi Nanguo has brought forward its maintenance schedule because the local government has stepped up its measures to restrict power consumption by industrial facilities, Fastmarkets has learnt.The private smelter, which has capacity for 300,000 tonnes per year, will be shut for 45 days across August-September and therefore will not be procuring extra copper raw material o...Read More
Turkey's domestic transaction prices for hot-dipped galvanized and pre-painted galvanized coil prices were mostly stable in the week ended Friday August 6 due to limited trading, sources told Fastmarkets.Domestic buyers have mainly been holding back from acquiring substantial material volumes, waiting for the trend to settle.Fastmarkets' assessment for steel HDG coil domestic, exw T...Read More
The light iron scrap market in the United Kingdom dropped by ?5 ($7) per tonne over the week ending Friday August 6, with weaker European export markets into Turkey and the Indian subcontinent dragging down British dockside prices, which had a knock-on effect on the domestic market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delive...Read More
A brief recovery in Chinese steel billet prices during the week to Friday August 6 has done little to perk up import markets in Southeast Asia, market participants told Fastmarkets.After a turbulent start to the week in the ferrous futures markets, Chinese buyers returned to the market on Wednesday August 4, booking only a handful of cargoes, sources said.Indonesian blast furnace (BF) 15...Read More
The price of flat-rolled stainless steel in the European domestic market increased further this week amid continuing tight supply, Fastmarkets heard on Friday August 6.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?3,900-3,950 ($4,616-4,676) per tonne on Friday, up by ?,?50 per tonne week on week from...Read More
Brazilian automotive production dropped by 4.16% year on year in July amid a continuing shortage of auto parts, according to national automotive association Anfavea.Light vehicle output reached 163,600 units last month, compared with 170,700 units in the same period in 2020, Anfavea said on Friday August 6. Production and sales continue to be affected by a global shortage of semiconductor chips, w...Read More
The US Dollar Index was at its highest since July 27 and was weighing on London Metal Exchange base-metal prices in the afternoon of Friday August 6, with all metals ending the week below where they were on Monday.The US index touched a week-and-a-half high of 92.84 on Friday afternoon, following the release of positive employment data in the country.There were 943,000 jobs added to the US economy...Read More