Prices for carbon steel plate in the United States were sideways for the third week in a row, with market participants predicting it will remain flat or rise soon.Fastmarkets' weekly assessment for steel cut-to-length plate carbon grade, fob mill US was at $75 per hundredweight ($1,500 per short ton) on Friday July 9, unchanged since June 25 but nearly triple $26 per cwt at the same time last year...Read More
The waiting time to deliver out aluminium at Istim's London Metal Exchange-registered warehouses in Port Klang, Malaysia, was 168 days at the end of June, according to the LME's latest queue report.The queue has been declining very slowly over the past few months, down from 176 days at the end of May and 199 days at the end of April. The queue has been in place since a series of large cancell...Read More
Iron ore prices moved up despite limited liquidity in the physical market on Monday July 12, while sentiment strengthened on news that China's central bank will cut the reserve requirement ratio (RRR), sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $217.85 per tonne, up $3.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.60 per tonne, up $2.60 per tonne58% Fe fines high...Read More
Seaborne iron ore concentrate and pellet prices increased in the week to Friday July 9, after the return of buying interest in China following the 100-year anniversary of country's communist party, sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $62 per tonne, unchanged66% Fe concentrate, cfr Qingdao: $245.03 per tonne, up $2.76 per tonne65% Fe bla...Read More
Here are five Fastmarkets stories you might have missed on Monday July 12 that are worth another look.A group of Brazilian construction and real estate companies received a 20,000-tonne shipment of rebar from Turkey last week, national construction industry chamber CBIC said.The waiting time...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
While more upside awaits finished steel prices, the United States' domestic ferrous scrap market might have plateaued or reached its 2021 peak, buyers and sellers told Fastmarkets.At the same time, there are a host of positive aspects that suggest the market will remain strong, even if upside might be limited.The July market was like a Kentucky Derby horse race, with commentators spending hours di...Read More
China's central bank is freeing up 1 trillion yuan ($154 billion) via a reduction of banks' reserve requirement ratio (RRR) - the amount of cash that these institutions must have in their reserves - to support the Chinese economy.But not all sectors will reap the benefits of the measure, market sources told Fastmarkets.The People's Bank of China said last Friday July 9 that the RRR for commercial...Read More
Turkish steel mills continued their deep-sea scrap purchases at a slow pace at the beginning of the week, trying to put further pressure on prices, market participants told Fastmarkets on Monday July 12.A steel mill in the Marmara region booked a European cargo, comprising 28,000 tonnes of HMS 1&2 (75:25) and 2,000 tonnes of a mixture of bonus and HMS 1, at an average price of $486.50 per tonne cf...Read More
China's nickel pig iron (NPI) prices were unchanged last week amid a softening of stainless steel prices and thinner trading, though those for nickel ore still increased because of tight supply.Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,225-1,250 yuan ($189-193) per nickel unit last Friday July 9, the same as a week earlier, but up by 10...Read More
Magnitogorsk Iron & Steel Works' (MMK) Metalurji subsidiary in Turkey has started trial production of hot-rolled coil, the Russian company announced on Monday July 12.Located in the Iskenderun region, the mill halted operations at its meltshop and compact strip mill in late 2012. "The current situation allows us to resume operations at the electric-arc furnace facility, which is a very important...Read More
Turkish steel mills continued their deep-sea scrap purchases at a slow pace at the beginning of the week, trying to put further pressure on prices, market participants told Fastmarkets on Monday July 12.A steel mill in the Marmara region booked a European cargo, comprising 28,000 tonnes of HMS 1&2 (75:25) and 2,000 tonnes of a mixture of bonus and HMS 1, at an average price of $486.50 per tonne cf...Read More
Base metals futures prices on the London Metal Exchange were mostly lower during morning trading on Monday July 12 compared with their Friday closing prices, with the exception of tin.Nickel's three-month price was down 1% on Monday at 9am from Friday's close at $18,747 per tonne. The stainless steel additive reached as high as $18,830 per tonne, however, its highest level since March 1.Three-mont...Read More
China's tellurium price dropped on July 9 after climbing for around 18 months, according to Fastmarkets' price assessment.Fastmarkets' weekly price assessment for tellurium 99.99% Temin, in-whs China was 575-582 yuan ($88.74-89.82) per kg on Friday July 9, downby 0.3% from $575-585 yuan per kg a week earlier.It marks the first time the tellurium price has fallen since early 2020, when the price wa...Read More
Turkish domestic auto bundle scrap prices have inched upward over the past week, with two steel mills in the Izmir region raising their buy prices, market participants said on Monday July 12.Long steel mill Ege ??elik increased its buy price for auto bundle scrap by 50 Turkish lira per tonne to 4,160 lira ($480) per tonne delivered.Fellow long steel mill ?-zkan raised its...Read More
Tin's three-month price on the London Metal Exchange reached a new year-to-date peak of $32,250 per tonne on Monday July 12, with the soldering metal being the star performer while the rest of the base-metals complex fell from their Friday prices.Tin's futures contract was $32,094 per tonne at the close of trading on Monday, a 1.3% rise from its price at the same time on Friday of $31,680 per tonn...Read More
Brazilian domestic steel rebar prices were steady in July amid a stabilization in foreign markets and an increase in internal supply.Fastmarkets assessed the price for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, at 5,560-5,690 Reais ($1,057-1,081) per tonne on Friday July 9, unchanged since May 14, when it had come down from an all-time high of 5,630-5,700 Reais per tonne s...Read More
China's domestic rebar prices increased sharply on Monday July 12 following news that the People's Bank of China will cut the reserve ratio requirement (RRR) by 0.5 percentage points from July 15.DomesticEastern China (Shanghai): 5,150-5,200 yuan ($796-803) per tonne, up by 130-150 yuan per tonneThe news that the RRR will be cut pushed rebar futures prices as high as 5,532 yuan per tonne on Monday...Read More
Key data from Friday July 9 pricing session in Shanghai.Key drivers Sellers reduced their offers in the hope of facilitating sales in a quiet market. Some participants selling imported selenium continue to offer at levels above...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