London Metal Exchange tin prices traded at fresh all-time highs of $34,700 per tonne on Friday July 23, with base metals starting the day in an uptrend despite mixed data from Europe's manufacturing industry.The metal had continued to make gains after Thursday's 5pm close of $34,195 per tonne, and experienced small clips of buying beyond algorithmic trades during morning trading before the market...Read More
Inventories of the base metals diverged in Shanghai Futures Exchange-registered warehouses this week, with zinc gaining the most at 21.3% while copper stocks fell by 18.2%, according to the stocks report on Friday July 23.Zinc inventories stood at 36,440 tonnes on Friday, an increase of 6,387 tonnes from 30,053 tonnes on July 23.The inflows mainly came into warehouses operated by Quansheng Logisti...Read More
Hot-rolled coil prices in the United States fell below$91 per hundredweight ($1,820 per short ton) on Friday July 23 after three consecutive business days above that threshold. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.80 per cwt ($1,816 per ton), down by 0.51% from $91.27 per cwt on Thursday July 22 and virtually unchanged from $90.75 per cwt one week earli...Read More
Crude steel production in Germany continued to rise in June, recording a fourth consecutive month of recovery, German steel federation WV Stahl said on Thursday July 23.German crude steel production totaled more than 3.42 million tonnes in June 2021, up from 2.47 million tonnes in June 2020, WV Stahl said.The sharp rise is partially explained, however, by a low comparative base - last year's domes...Read More
Indian domestic prices for secondary steel billet rose by about $13 per tonne during the week to Friday July 23 on stronger demand for finished products, particularly rebar, sources said.Fastmarkets assessed steel billet domestic, ex-works India at 42,200-42,400 rupees ($567-570) per tonne on Friday, up by 1,000 rupees from 41,200-41,400 rupees per tonne last week. "The billet price recovery is in...Read More
Trading activity in the hot-rolled coil markets across Europe was still limited on Friday July 23, with prices broadly stable despite gaining strength from short supply, Fastmarkets has heard.Firm offers were still scarce in the Northern European HRC market, sources said.Mills in the region had good order books and could only offer fourth-quarter production HRC, with some of them claiming to be so...Read More
A barrage of import steel billet deals have been concluded with Chinese buyers this week at progressively higher prices, sources told Fastmarkets on Friday July 23.Demand for imported billet has spiked at mills in China amid targets which would push down steel production in the country over the second half of 2021.Chinese steelmakers can use import billet to roll long steel products while simultan...Read More
Long steel producer Badische Stahlwerke has denied that there was a stoppage at its rolling mill in southwest Germany, a source at the company told Fastmarkets on Friday July 23.Heavy floods in Germany have interrupted the supply of steel products and raw materials across the country, with some flat steel producers even declaring force majeure to customers.There were market rumors on Friday indica...Read More
Prices for shredded steel scrap imports into Pakistan and India were stable on Friday July 23 due to slow trading and public holidays, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $546.46 per tonne on Friday, down by $1.34 from $547.80 per tonne one week prior.Many market participants were off work due to the w...Read More
Turkish steel mills remained absent from the market on Friday July 23 having booked no new scrap cargoes this week due to the Eid al-Adha public holidays in the country.Trading is expected to resume on Monday July 26.Due to the lack of fresh trading activity, Fastmarkets' daily...Read More
Export prices for pig iron from the Commonwealth of Independent States went down during the week to Thursday July 22 on low demand. Steelmakers were not active in the market, with only small-volume sales being made to distributors and foundries.Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS, at $595-610 per tonne on July 22, down from $600-620 per...Read More
Iron ore prices edged down on Friday July 23 amid weaker demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $201.33 per tonne, down by $1.30 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.86 per tonne, down by $1.76 per tonne58% Fe fines high-grade premium, cfr Qingdao: $165.45 per tonne, down by $1.43 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $236.10 per tonne, down by $3...Read More
The Vietnam Steel Association (VSA) is leading an industry-wide pushback against the country's proposed export tax of 5% on steel billet, it said on Friday July 23."The proposal to increase export taxes on billet and reduce import taxes on finished steel products is not suitable with the current situation of steel production," the association said.This was in response to domestic demand for steel...Read More
Seaborne coking coal prices increased in both the cfr and fob markets on Friday July 23 due to more trading activities, sources told Fastmarkets.Prices for seaborne pulverized coal injection (PCI) inched up in the cfr market in the week to July 23 due to tight domestic supply for high quality resources. The fob market also continued to increase due to strong coking coal prices, sources said.Fastma...Read More
Domestic prices for hot-rolled coil in China cruised higher on Friday July 23 after the country's third-largest steelmaking province announced a ceiling for its crude steel output for 2021.DomesticEastern China (Shanghai): 5,860-5,910 yuan ($905-913) per tonne, up by 10-60 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,720-5,730 yuan ($884-885) per tonne, up by 10 yuan per tonne The...Read More
China's domestic rebar prices rose on Friday July 23 on stronger restocking demand and lower production, but end-user demand weakened in the eastern coastal region ahead of an upcoming typhoon.DomesticEastern China (Shanghai): 5,280-5,300 yuan ($815-818) per tonne, up by 50 yuan per tonneNorthern China (Beijing) weekly assessment: 5,160-5,200 yuan per tonne, up by 80-90 yuan per tonneTyphoon In-fa...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally stronger this morning, Friday July 23, the exception was lead on the LME that was down by 0.5%, but that was after a strong gain on Thursday. Lead, tin and nickel all pushed the boundary on the upside on Thursday with gains of 1.5% or moreEuropean Central Bank projected a dovish outlook on monetary po...Read More
An overview of the aerospace materials markets and the latest price moves.Jessica Long, Ruby Liu 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...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