Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Tuesday August 3, with LME copper and SHFE aluminium bucking the trend, but the drop in US ten-year treasury yield hints of a pick-up in haven buying.Asian equities mainly lower this morningSome disappointing manufacturing purchasing managers' index (PMI) have raised concern about...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
China's domestic rebar prices continued to fall on Tuesday August 3, with demand weakened by adverse weather and a resurgence of Covid-19 infections.DomesticEastern China (Shanghai): 5,130-5,170 yuan ($794-800) per tonne, down by 60-70 yuan per tonneRain in eastern and southern China affected construction activity, particularly in coastal cities that experienced heavy downpour.A spike in Covid-19...Read More
Prices for hot- and cold-rolled steel sheet in Russia's Central Federal District around Moscow showed no change week on week in the seven days to Monday August 2, with a mood of pessimism among both mills and stockists, sources have told Fastmarkets.A pricing downtrend developed in the steel plate sector, and this was expected to reach other market sectors later in the month.Hot-rolled sheetNomina...Read More
Domestic and imported rebar prices were stable in the United Arab Emirates during the week to Tuesday August 3, while imported billet prices increased because of globally strong billet prices, sources told Fastmarkets.Fastmarkets' weekly assessment for steel billet export, fob main port India was $645-650 per tonne fob on Friday July 30, rising from $630-635 per tonne on July 23.Domestic reb...Read More
ArcelorMittal Europe has launched new long steel products under its XCarb brand which are claimed to offer a reduced carbon footprint, with the intention of supporting the construction industry's efforts to meet environmental protection goals, the company announced on Friday July 30.ArcelorMittal Europe's Long Product division said that environmental production declarations (EPDs) were now availab...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
ArcelorMittal Europe has launched new long steel products under its XCarb brand which are claimed to offer a reduced carbon footprint, with the intention of supporting the construction industry's efforts to meet environmental protection goals, the company announced on Friday July 30.ArcelorMittal Europe's Long Product division said that environmental production declarations (EPDs) were now availab...Read More
Due to a reporter error, the United States zinc and copper premiums for Tuesday August 3 were published in Fastmarkets' price book after the scheduled time of 4pm GMT.Fastmarkets' fortnightly assessment of the copper grade 1 cathode premium, ddp Midwest US and the zinc SHG min 99.995% ingot premium, ddp Midwest USwere published later than the scheduled time of 4pm GMT.For more information, or...Read More
Manganese ore prices were under pressure from stubborn port inventories in China during the week ended Friday July 30, with buying sentiment further lowered by new cuts to alloy production to be imposed in the south of the country.Almost all manganese alloy smelters in Ningxia province suspended their operations from July 27 due to reduced electricity supplies, market participants told Fastmarkets...Read More
The downtrend in the flat-rolled steel export market from the Commonwealth of Independent States slowed amid resumed buying activity during the week to Monday August 2.Fastmarkets' weekly assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $915-925 per tonne on Monday, narrowing downward from $915-930 per tonne a week prior.Russia-origin material was sold to Turkey at $940-950 per...Read More
Turkish steel producers resumed their deep-sea scrap bookings after a short break, taking advantage of lower prices, market participants told Fastmarkets on Tuesday August 3.A steel mill in the Marmara region booked a US cargo comprising 29,000 tonnes of heavy melting scrap 1&2 (80:20) at $463 per tonne and 8,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $478 per tonne c...Read More
The latest data for global manganese ore market for the week ended July 30, 2021.Read More
ArcelorMittal Europe has launched new long steel products under its XCarb brand which are claimed to offer a reduced carbon footprint, with the intention of supporting the construction industry's efforts to meet environmental protection goals, the company announced on Friday July 30.ArcelorMittal Europe's Long Product division said that environmental production declarations (EPDs) were now availab...Read More
Seaborne coking coal prices inched up in the cfr market and slipped in the fob market on Tuesday August 3, amid weak buying interest in both markets, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.67 per tonne, down $1.53 per tonnePremium hard coking coal, cfr Jingtang: $326.69 per tonne, up $0.30 per tonne Hard coking coal, fob DBCT: $182.41 per tonne, down $1.25 pe...Read More
Zinc's three-month price fell to $2,969.50 per tonne at the close of trading on the London Metal Exchange on Tuesday August 3, with the entire base-metals complex turning lower during the day and with Covid-19-related concerns returning to prominence.Zinc's benchmark futures contract fell from Monday's $3,050.50 per tonne closing price, which was the highest since June 14.The galvanizing metal fal...Read More
Turkish prices for flat steel products decreased during July and trading was limited due to holidays during the month, sources told Fastmarkets on Tuesday August 3.Global weakness in flat steel markets during the holidays - Democracy Day was on July 15 in Turkey, and the Ei al-Adha holidays took place from July 19-24 - sparked the decline in prices.Turkish hot-rolled coil producers are currently a...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday August 4, and those on the Shanghai Futures Exchange were all weaker.While the metals have generally found good underlying support, overhead resistance does seem to be capping the upside, which is perhaps not surprising because we are in the middle of the summer lull.US equities focused on strong results, less on th...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday August 3 and their latest price moves.China UG2 chrome ore prices rose following the surge in downstream ferro-chrome prices in recent weeks. Turkish lumpy ore prices also increased on high freight costs from Turkey to China. Domestic spot ferro-chrome prices adjusted downward after buyer interest weak...Read More
A summary of North-America based aluminium products manufacturer Arconic's second-quarter 2021 financial results, released on Tuesday August 3.In brief: Global aluminium products manufacturer Arconic reported a 52% increase in total sales during the second quarter of 2021, when compared to the same period last year, and an 8% increase in sales from the previous quarter.The company's total ad...Read More