Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More
European buyers were insisting on lower domestic prices for hot-rolled coil although the availability of the material remained short, sources told Fastmarkets on Monday July 5.Buyers were reluctant to continue paying high prices for coil, and have been limiting their purchases in terms of both number and volumes, market sources said.Long lead times from domestic producers, sufficient stocks among...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely stable in the week to Monday July 5, aided by solid demand from construction.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 72,500-75,000 ($990-1,024) roubles per tonne on Monday, including 20% value-added tax, unchanged from last week.High const...Read More
Limited spot trade for rebar imports into Singapore kept prices unchanged during the week to Monday July 5, sources told Fastmarkets.Two major Indian steel mills raised their offer prices to $750-760 per tonne cfr Singapore on a theoretical weight basis, up by $5-10 per tonne week on week. But this did not mean that spot prices had increased, according to sources."Demand for imported material is e...Read More
China's domestic rebar prices increased on Monday July 5 amid higher trading activity and stronger futures prices.DomesticEastern China (Shanghai): 4,870-4,900 yuan ($754-759) per tonne, up by 40 yuan per tonneMarket participants expect steel production to drop in the second half of this year to meet a target set late last year by the Chinese Ministry of Industry & Information Technology (MIIT).Th...Read More
Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More
Iron ore prices were up on Monday July 5 with market sentiment improving because of the easing of restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.82 per tonne, up by $3.84 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.14 per tonne, up by $3.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184...Read More
China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.The country imported 1.17 billion tonnes of the iron ore last year, an increase of 9.4% compared with 2019.European Union countries collectively accounted for the largest decrease among major iron ore importers, with purchases tumbling 20.8% year on year...Read More
Export prices for steel slab from the Commonwealth of Independent States dropped in the week to Monday July 5 amid decreasing finished flat steel values in the region, as well as a possible increase in supply through July before Russia imposes an export duty on metal products in August."The price trend in hot-rolled coil has affected the slab sector. MMK [Magnitogorsk Iron & Steel Works] scared ev...Read More
Russia-origin aluminium will carry an export duty of 15% with a minimum rate of $254 per tonne from August 1 until December 31 this year, according to the Russian government.Export duties have been approved on 340 non-ferrous and steel products, after Russian Prime Minister Mikhail Mishustin signed an official decree on Friday June 25.Primary aluminium, under harmonized system code 760110, will al...Read More
Russia-origin aluminium will carry an export duty of 15% with a minimum rate of $254 per tonne from August 1 until December 31 this year, according to the Russian government.Export duties have been approved on 340 non-ferrous and steel products, after Russian Prime Minister Mikhail Mishustin signed an official decree on Friday June 25.Primary aluminium, under harmonized system code 760110, will al...Read More
Export prices for steel slab from the Commonwealth of Independent States dropped in the week to Monday July 5 amid decreasing finished flat steel values in the region, as well as a possible increase in supply through July before Russia imposes an export duty on metal products in August."The price trend in hot-rolled coil has affected the slab sector. MMK [Magnitogorsk Iron & Steel Works] scared ev...Read More
The latest data for the global manganese ore market for the week ended July 2, 2021.Read More
The bullish momentum in China's stainless steel market in the first half of 2021 will likely extend into the third quarter, which would underpin prices for upstream products such as nickel pig iron (NPI) and ferro-chrome, market participants say.But several mills' plan to put new capacity into operation could weigh on prices in the fourth quarter, which would affect the upstream market for these r...Read More
CIS export billet prices fell on Monday July 5, with customers pushing for lower rates because Russian mills are now looking to sell volumes ahead the introduction of an export duty in August.On Friday June 25 the Russian government approved a temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU). The duties will apply from August 1 through to...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
Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More
Brazilian slab prices remained stable for the fourth consecutive assessment period in the week ended Friday July 2, with buyers and sellers continuing to dispute the price level.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil, was $980-1,000 per tonne fob on July 2, unchanged since June 4.A little activity was seen during the week, with the market beginning to transitio...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More
Base metals price movements on the London Metal Exchange were mixed during trading on Monday July 5, with copper and tin making the best showings among the complex.Copper's three-month price rallied upward by more than $130 per tonne during Monday's trading, to $9,511 per tonne at the 5pm close, from $9,376.50 per tonne on Friday, despite only 12,404 lots being traded during the day.While the stro...Read More