Global scrap prices broadly fell over the week to Friday July 9. Spot demand in Asia remained weak, with buyers looking at lower Turkish steel scrap prices for indications of better buying opportunities in the future.Turkey resumes deep-sea importsPrime grades perform best in USVietnam demand soft but billet demand could offer hopeChinese price uptrend capped by production cutsTaiwan continues to...Read More
The inter-merchant light iron scrap market in the United Kingdom was unchanged this week although increased demand could result in small price rises in the coming weeks, participants told Fastmarkets on Friday July 9.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?175-190 ($241-262) per tonne on Friday, unchanged since June 18...Read More
Prices for shredded steel scrap imports into Pakistan increased in the week to Friday July 9, supported by higher trading activity compared with India, sources have told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $547.34 per tonne on July 9, up by $7.83 per tonne from $539.51 per tonne on July 2.Deals for the material have been...Read More
Turkish steel mills ended the week with six deep-sea cargo deals, which were booked for immediate requirements, market participants told Fastmarkets on Friday July 9.A steel mill in the Iskenderun region booked a United States cargo on July 8 comprising heavy melting scrap 1&2 (90:10) at $498 per tonne, shredded and plate & structural (P&S) at $516.A steel mill in the Izmir region also booked a ca...Read More
Iron ore prices across the board declined further on Friday July 9, with market chatter about crude steel production cuts in China depressing sentiment amid thin trading.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.77 per tonne, down by $3.27 per tonne62% Fe low-alumina fines, cfr Qingdao: $218.00 per tonne, down by $4.00 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.0...Read More
A correction has been issued for this article. The update can be found here.Read More
Domestic hot-rolled coil prices in China were unchanged on Friday July 9, with an ongoing seasonal lull in demand keeping spot prices from tracking rising futures amid talk of production cuts across the country.DomesticEastern China (Shanghai): 5,700-5,770 yuan ($878-889) per tonne, unchanged Northern China (Tangshan): weekly assessment: 5,500-5,620 yuan ($848-866) per tonne, up by 180-240 yuan pe...Read More
China's domestic rebar market ended the week with increased prices in both eastern and northern regions, though prices were stable on Friday July 9.DomesticEastern China (Shanghai): 5,020-5,050 yuan ($775-780) per tonne, unchangedNorthern China (Beijing) weekly assessment: 4,950-4,990 yuan per tonne, up by 170 yuan per tonneEastern rebar prices halted their rise on Friday due to weak demand but pr...Read More
An overview of the aerospace materials markets and the latest price moves.Carrie Shi, Ruby Liu...Read More
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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, $/lb...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...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.Fastmarkets assessed Cobalt...Read More
Key data from Fastmarkets' Friday July 9 pricing sessions in Europe, China, India and the United States.Europe The silico-manganese market continued to strengthen in response to tight availability of material and robust demand from consumers. Prices in the market have been on an uptrend since the start of the year with steel production recovering from the effects of the Covid-19 pandemic. While co...Read More
The Japanese export price for heavy scrap (HS) remained high on Friday July 9 despite Kanto Tetsugen July auction prices falling month on month, sources told Fastmarkets.Friday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at a decrease of ?1,307 ($12) per tonne month on month, with the winning bid price at...Read More
Spot activity in the Vietnamese ferrous scrap import market remained very thin during the week to July 9 due to poor demand caused by the Covid-19 pandemic, sources told Fastmarkets.The winner of the July Kanto Tetsugen auction will sell the 14,000 tonnes of bulk Japanese H2 scrap to Vietnam, sources said. The auction closed at ?47,888 per tonne ($435) on a free along side ship basis, down...Read More
Consistent demand for containerized ferrous scrap in the Taiwan import market pushed spot prices higher during the week to Friday July 9, sources told Fastmarkets.Fastmarkets' daily price assessment for containerized steel scrap, heavy melting scrap 1&2 (80:20), United States material import, cfr main port Taiwan was $467-468 per tonne on Friday, unchanged from the previous day and up by $8-12 wee...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 8 that are worth another look.Iran's steel output will be negatively affected by severe power shortages that started in June and still remain an issue, market participants said.Kamoa Copper's 3.8-million-tonne-per-year concentrator in the...Read More
Base metals prices on the London Metal Exchange showed mixed directions at the 5pm close of trading on Thursday July 8, with copper and aluminium down on a slowing Chinese economy and talks of tapering from the United States."The takeaway from last night's FOMC [meeting] appears to be that this month... should see the ramping-up of more formal talks on tapering, with the line that the conditions f...Read More