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
Domestic prices for heavy steel plate in Italy moved down in the week ended Wednesday July 28 due to lower slab costs and competitive imports, sources have told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?950-970 ($1,122-1,145) per tonne on July 28, down by ?,?15-20 per tonne from ?,?970-985 per tonne on July 21.The assessment was based o...Read More
Base metals prices remained mixed on the London Metal Exchange at the 5pm close of trading on Wednesday July 28, with the month-end approaching and the market still waiting for signals of fresh direction from the US Federal Reserve bank."While we are very positive on the fundamentals [for copper] in the long term, we remain cautious in the short term due to the presence of macro headwinds," Fastma...Read More
The nickel briquette premium in the United States has essentially doubled since a strike began at Vale Canada at the start of June, reaching a new high.Fastmarkets assessed the nickel briquette premium, delivered Midwest US at 34-37 cents per lb on Tuesday July 27, up by 97.22% from 16-20 cents per lb on June 1.The current briquette premium range overtook the previous week's re...Read More
The main workers union at Escondida, the world's largest copper mine, has called on its members to reject BHP's last wage offer and vote for industrial action, the union said in a statement on July 28. "After analyzing the conditions of the last offer of Minera Escondida, controlled by Anglo-Australian BHP, it has been found that [the company] seeks to increase working times, decrease breaks, chan...Read More
Copper premiums in China continue their uptrend with an rise in buying and an improved arbitrage, while premiums elsewhere in the world were stable in the week to July 27.European premiums were stable due to approaching holiday season Premiums in the United States were stable despite Comex copper prices hikeLondon Metal Exchange stocks were at 230,225 tonnes on Wednesday, their highest since...Read More
Premiums for zinc continued to trade at high levels in Europe in the week ended Tuesday July 27, with demand still evident before the continent's August holiday period, while markets elsewhere continued unchanged.Zinc premiums in Europe remain highUnusual August demand seen in ItalyChina premiums stable.Northern Europe premiums steady at three-year highsZinc ingot premiums in Northern Europe were...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional's (CSN) adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) soared by 324.62% year on year due to higher steel and iron ore prices and sales volumes in the second quarter.In brief Sales of iron ore from CSN's mining division, CSN Minera????o, rose by 17.65% year on year during the quarter, to 9.11 mi...Read More
The Southern European domestic steel rebar market was quiet with largely stable prices, although a slight uptick in Italian demand pushed prices up, Fastmarkets heard on Wednesday July 28.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?760-815 ($897-962) per tonne on Wednesday, compared with ?,?760-810 per tonne one week previously...Read More
Prices for steel billets imported to the Philippines have jumped in the week to July 28 after Chinese buying activity inflated offer prices for mills in Southeast Asia, sources told Fastmarkets.Trading activity into the Philippines had been quiet the previous week in the face of huge Chinese demand, with just one deal for Vietnamese induction furnace (IF) billet heard done at $688 per tonne cfr Ma...Read More
Prices for steel hollow sections in Europe remained unchanged on Wednesday July 28 while the market heads into a slower seasonal period, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,653-1,688) per tonne on July 28, unchanged week on week."The holidays are starting in the coming days, many are holding...Read More
Domestic prices for hot-rolled coil in Europe remained fairly stable on Wednesday July 28 despite slow trading and pressure from cheap import offers to Southern Europe, sources told Fastmarkets.Demand has been weak due to the seasonal summer-holiday slowdown across the EU.In addition, the number of offers from European mills has been limited. Suppliers in Germany were reported to be holding back f...Read More
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