Flat steel prices for imports into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday June 29, but demand was better because of low stock levels, Fastmarkets was told.Some market participants expected flat steel prices to increase because of Russia's recently proposed export duty.Russia will impose a base 15% export duty on 340 metal products, including hot-rolled co...Read More
With the exception of rising tin and aluminium prices, most prices on the London Metal Exchange were mixed on the morning of June 29. The LME three-month price of tin price rose to $31,350 per tonne on Tuesday at 9am, up from its Monday closing price of $31,152 per tonne, which had been a 1.2% increase on Friday's price. Supply issues continue to be bullish for the metal's price, with the MSC...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday June 29 that are worth another look....Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday June 29 that are worth another look....Read More
U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 4 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US80.76 cents following release of Canada's April GDP report at 8:30 AM EDT. Consensus was a drop of 0.8% versus a gain of 1.1% in March. Actual was a drop of 0.3%.Constellation Brands added $0.52 to $231.50 after announcing a $500 m...Read More
Ferrous scrap prices in Mexico's steelmaking regions of Monterrey and Baj?-o were mostly stable week on week while demand remained high, according to several sources.Few changes were reported during the past week, with prices appearing to stabilize at currently high levels. There were reports of some buyers adjusting their prices upward for some grades in the region near the northeastern Monterrey...Read More
Export prices for steel rebar and wire rod from the Commonwealth of Independent States softened in the week ended Tuesday June 29 with the market under pressure from the introduction of a duty on steel product exports from Russia, as well as the extension of safeguard duties in Europe."The introduction of an export duty in Russia is an unprecedented event, and it will now take time to understand w...Read More
Hot-rolled coil prices in China's domestic market inched lower on Tuesday June 29 while futures prices reversed earlier gains.DomesticEastern China (Shanghai): 5,390-5,450 yuan ($834-844) per tonne, widening downward by 10 yuan per tonne from 5,400-5,450 yuan. Spot prices edged lower after the most-traded HRC contract on the Shanghai Futures Exchange fell slightly from an earlier high of...Read More
Turkish steel mills picked up their activity in the deep-sea scrap markets with a fresh UK cargo sold at fairly stable prices, market participants said on Tuesday June 29.A steel mill in the Marmara region booked the UK cargo, comprising 25,000 tonnes of HMS 1&2 (80:20), 10,000 tonnes of shredded and 10,000 tonnes of bonus at an average price of $505.50 per tonne cfr. The cargo is scheduled to be...Read More
Demand for both domestic and imported scrap was weak on Tuesday June 29 with many Chinese steelmakers making production cuts for environmental reasons, sources have told Fastmarkets.Steelmakers in Tangshan, China's northern region steel hub, have been instructed to lower their production rates this week to help to improve air quality ahead of the July 1 centennial celebration of the Chinese Commun...Read More
Ferrous scrap prices in Mexico's steelmaking regions of Monterrey and Baj?-o were mostly stable week on week while demand remained high, according to several sources.Few changes were reported during the past week, with prices appearing to stabilize at currently high levels. There were reports of some buyers adjusting their prices upward for some grades in the region near the northeastern Monterrey...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, $/lb at 22.20-23.00...Read More
The steel rebar and billet import market in the United Arab Emirates was slow after the country's biggest steel producer announced reduced rebar prices, sources told Fastmarkets on Tuesday June 29.Emirates Steel, the biggest producer in the UAE, decreased its rebar price by 55 dirhams ($14.97) per tonne to 3,012 dirhams per tonne ex-works in effect from June 27.The new rebar price did not improve...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday June 29 that are worth another look....Read More
Domestic prices for hot-rolled coil in Europe remained stable on Tuesday June 29 with trading activity still limited, sources told Fastmarkets.Buyers have been more cautious about making new deals because they have sufficient stocks for the next few months and delivery times from the EU mills for HRC are reaching late 2021. For downstream coil, several producers said they were now sold out for the...Read More
The seaborne premium hard coking coal price stayed large stable in the cfr market because most market participants adopted a wait-and-see attitude on Tuesday June 29, market sources said, while the price of premium hard coking coal fob DBCT inched higher on buying interest.Fastmarkets indicesPremium hard coking coal, fob DBCT: $184.92 per tonne, up $1.10 per tonnePremium hard coking coal, cfr Jing...Read More
The European ferro-titanium and titanium scrap markets may be set to push higher in the coming months after news that Russia will impose an export tax on ferro-alloys between August 1 and December 31 this year, according to industry sources.Europe imported around 1,500 tonnes of ferro-titanium per month on average from Russia in the past three years, including Scandinavia and Turkey, with 1,700-1,...Read More
Lithium carbonate chemical prices must remain in excess of $10 per kg to stimulate the creation of new capacity to match the exponentially growing demand, Wei Xiong, vice president of China's General Lithium, has said.Wei was speaking during a lithium market webinar hosted by investment bank Morgan Stanley on Friday June 25."Demand [for lithium] is very solid," he said, "but supply is flexible and...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 28 that are worth another look....Read More
Seaborne iron ore concentrate and pellet prices fell in the week ended Friday June 25 due to a weaker demand outlook for steel, sources said. Fastmarkets iron ore indices Pellet premium over 65% Fe fines, cfr China: $62 per tonne, down $0.40 66% Fe concentrate, cfr Qingdao: $241.32 per tonne, down $1.31 65% Fe blast furnace pellet, cfr Qingdao: $300.81 per tonne, down $4.11 Key drivers Sentiment w...Read More