Prices in the Turkish flat steel market reduced over the week to Friday July 16 due to lower demand prior to the long holiday period, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $1,050-1,070 per tonne on July 16, down from $1,060-1,100 per tonne the previous week.HRC offers were mostly heard at $1,050 per tonne ex...Read More
Flat-rolled steel import prices increased in South America during the week ended Friday July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin, market participants told Fastmarkets."Freight from China... was heard to be still rising. This is creating big headaches for traders," a mill source said.A vessel shortage and less b...Read More
The price of austenitic stainless steel scrap remained steady in the week to Friday July 16 ahead of the summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 316 solids domestic, delivered merchants UK was ?1,700-1,800 ($2,352- 2,491) per tonne on July 16, unchanged week on week.In the UK and in Europe, there is a summer slowdown in July and Aug...Read More
Mining and metals producer Assmang has declared force majeure on its medium-carbon ferro-manganese production in South Africa, a source told Fastmarkets on Friday July 16.Assmang produces refined ferro-manganese at its Cato Ridge Alloys plant in the eastern province of KwaZulu-Natal and informed its customers about the force majeure on production earlier this week.The force majeure declaration was...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
The inter-merchant light iron scrap market in the United Kingdom was up ?5 ($6.92) per tonne in the week to Friday July 16 amid firm fundamentals, with some sources suggesting the market may consolidate higher in the near term while others say a correction may be likely due to the steel summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old li...Read More
Tin's three-month price reached a new all-time peak on the London Metal Exchange on Friday July 16, with supply concerns from Southeast Asia - due to the spread of the delta variant of Covid-19 - also supporting most prices.Tin's benchmark futures price has jumped by 63% since the start of the year, when the metal was priced $20,735 per tonne. It closed at $33,600 per tonne on Friday, a 1.4% gain...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
Brazilian steel producers have accepted a reduction of 10% in import duties, and agreed to avoid raising domestic prices further, according to the country's economy minister, Paulo Guedes.The government has been in talks with representatives of steel producers, the country's construction industry and other end users. They are discussing options to normalize supply of rebar and other steel products...Read More
Coal exports from Australia's Queensland state fell 2% year on year in June, according to data from the North Queensland Bulk Ports Corp and Gladstone Ports Corp.Queensland, the country's metallurgical coal hub, exported 18.02 million tonnes of coal - including some thermal coal - in June, down from 18.43 million tonnes shipped in June 2020, according to the latest data from the two port operators...Read More
Treatment and refining charges (TC/RCs) paid for copper concentrates became noticeably firmer over the past week, with smelters pressing home their negotiating advantage for the few cargoes that traded.Fastmarkets' copper concentrates TC index, cif Asia Pacific, was calculated at $47.40 per tonne/4.74 cents per lb for the week to Friday July 16, up from $42.40...Read More
Prices for shredded steel scrap imports into Pakistan were broadly stable during the week to Friday July 16, while Indian prices fell further, sources told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $547.80 per tonne on Friday, compared with $547.34 per tonne a week ago.Pakistan market participants reported deals at $550 per tonn...Read More
Export prices for pig iron from the Commonwealth of Independent States fell over the week to Thursday July 15 because buyers had restocked earlier and were in no hurry to make new purchases.Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $600-620 per tonne on Thursday July 15, down from $610-630 per tonne a week before.Pig iron offers from Russia...Read More
Activity in the EU hot-rolled coil market has been limited on Friday July 16 due to buyers and sellers both being in wait-and-see mode, sources told Fastmarkets.Buyers have been holding back from acquiring material due to a seasonal slowdown and uncertainty about the price trend. Domestic prices have remained high despite a slight correction lower while buyers, who have sufficient stocks for...Read More
Hot-rolled coil in the India's domestic market continues to sell at discount of 3,000-3,500 ($40-47) rupees per tonne compared with mill pricing.Domestic HRC producers' prices, however, were stable this past week despite the price undercutting.Fastmarkets assessed steel HRC, domestic ex-warehouse India at 67,000-68,500 rupees per tonne on Friday July 16, unchanged from the previous week....Read More
Prices in the Turkish flat steel market reduced over the week to Friday July 16 due to lower demand prior to the long holiday period, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $1,050-1,070 per tonne on July 16, down from $1,060-1,100 per tonne the previous week.HRC offers were mostly heard at $1,050 per tonne ex...Read More
A new Brazilian regulation means that steel slab producer Companhia Sider??rgica do Pec?(C)m (CSP) can increase sales of steel to the Brazilian domestic market, according to a ruling published on Thursday July 15.CSP, a joint venture between Vale (50%), Dongkuk (30%) and Posco (20%), is located in an export processing zone in Brazil's northeastern state of Cear??. As a result, it benefits from cer...Read More
Hot-rolled coil prices in the United States topped $90 per hundredweight ($1,800 per short ton) for a third consecutive day, with mills providing only a limited amount spot material, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.75 per cwt ($1,815 per ton) on Friday July 16, down by 0.20% from $90.93 per cwt on Thursday July 15 but up by...Read More
Prices for cold-rolled and galvanized steel sheet climbed to new records, with cold roll catapulting above the $100-per-hundredweight ($2,000-per-short-ton) milestone for the first time ever.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US jumped to $101 per cwt ($2,020 per ton) on Thursday July 15 from $98.50 per cwt ($1,970 per ton) on July 8. The assessment has now g...Read More
European copper maker Aurubis announced on Friday July 16 that it has declared force majeure on its Stolberg operations, being unable to deliver or accept incoming deliveries following floods in the valley where the site is located. Aurubis Stolberg manufactures semi-finished products made of copper and copper alloys, including high-precision strip and wire made for industrial applications, such a...Read More