Steel H-beam prices in Europe were stable on Wednesday July 28 following a seasonal slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,239-1,275) per tonne on Wednesday, unchanged week on week.A distributor said that mills were keen to push prices to ?,?1,100 per tonne, but this was not curre...Read More
Summer maintenance work at steel mills was continuing across Japan but reduced generation volumes and strong prices paid by South Korea were continuing to support export scrap prices, sources told Fastmarkets on Wednesday July 28.On the lower-grade H2 material, reduced supply has been balanced by continued poor demand from Taiwan and Vietnam, sources said."I feel that the market is not so strong,...Read More
Turkish deep-sea scrap import prices fell sharply with the United States cargo deal announced on Wednesday July 28, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $475 per tonne, 25,000 tonnes of shredded and 15,000 tonnes of bonus at $495 per tonne cfr on July 23.This compares with the previous deep-sea trade recorded...Read More
Prices in the coking coal market in China held firm on Wednesday July 28 but climbed in the fob Australia market on increased buying interest, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $215.55 per tonne, up by $1.25 per tonnePremium hard coking coal, cfr Jingtang: $315.76 per tonne, unchangedHard coking coal, fob DBCT: $182.41 per tonne, up by 0.50 per tonneHard co...Read More
Iron ore prices were largely flat despite gain in futures on Wednesday July 28 due to the tight trading activity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.68 per tonne, up $0.11 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.08 per tonne, up $0.11 per tonne58% Fe fines high-grade premium, cfr Qingdao: $168.23 per tonne, up $...Read More
The spot market for imported scrap into China remained quiet on Wednesday July 28 due to Japanese sellers offering cargoes at prices much higher than buyers' ideas of acceptable price levels, sources told Fastmarkets.Offers from Japan were heard at $600-615 per tonne cfr China on Wednesday. Offers remained strong because South Korean buyers have been paying competitive prices for Japanese heavy sc...Read More
A growing number of steelmakers cutting production in China has prompted steel mills to reduce their consumption of direct-charge iron ore - iron ore pellets and lumps, market sources told Fastmarkets.Earlier in July, several steelmakers in various regions across China told Fastmarkets that they intend to keep this year's steel output levels from exceeding last year's.Growing uncertaintyThis has c...Read More
China's domestic rebar prices continued to drop on Wednesday July 28 due to early-hour weak futures, but demand increased after typhoon In-fa weakened, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,270-5,300 yuan ($810-815) per tonne, down by 10 yuan per tonneThe most-traded October rebar futures contract on the Shanghai Futures Exchange was lower than Tuesday's settlement price of...Read More
China's domestic sellers for hot-rolled coil kept prices stable on Wednesday July 28 due to stronger demand and exporters insisted on high offers ahead of the month end, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,880-5,900 yuan ($904-907) per tonne, unchangedThe weather was clear in Zhejiang and Shanghai, so demand and logistics resumed, supporting HRC prices.Demand in parts of J...Read More
Base metals prices were mixed on the London Metal Exchange during morning trading on Wednesday July 28, with the market hesitant ahead of the Federal Reserve meeting later on Wednesday."United States' equity index futures traded mixed ahead of the Fed's policy statement, with analysts expecting modest tweaks on the inflation language and virus risks," Anna Stablum, LME desk analyst at Marex, said....Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Fleur...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...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 Rotterdam,...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 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 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
Steelmakers in India have welcomed a newly approved Production Linked Incentive (PLI) program for the specialty steel sector to encourage domestic production, new investment and reduce imports. The South Asian country's Union Cabinet, chaired by the Prime Minister Narendra Modi, on July approved the PLI program for specialty steel in a push for a self-reliant India, a policy known as "Atmanirbhar...Read More
While tight flows continue to be a concern for dealers, processors and consumers, the stainless steel scrap market in the United States has remained firm, sources said, with prices for 300 grades increasing while 400 grades mostly held steady."Now it looks like the Covid-19 delta variant has caused supply concerns while scrap demand continues to be strong from the mills, as their order books conti...Read More
Plentiful supply of ferrous scrap on the United States East Coast continued to weigh heavily on deep-sea export prices to Turkey, with a Turkish mill securing a cargo at a discount of $4-9 per tonne compared to the last-reported US sale.An East Coast exporter sold a cargo of unspecified tonnage comprising an 80:20 mix of No1 and No2 heavy melting scrap priced at $471 per tonne cfr and shredded scr...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were up 3 points in pre-opening trade.U.S. equity index futures were quiet prior to release of U.S. economic reports at 8:30 AM EDT. Consensus for second quarter annualized real GDP is an increase of 8.6% versus a gain of 6.4% in the first quarter. Consensus for June Personal Income is a drop of 0.3% versus a decline of 2.0% in...Read More