China's domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.DomesticEastern China (Shanghai): 4,980-5,010 yuan ($778-783) per tonne, down by 70 yuan per tonne.Fear of further drops in end-user demand and the decline in futures prices have strengthened sellers' desire to run down...Read More
Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiumsTin premiums in the...Read More
Tightening supply and strong demand supported China's domestic and imported alloy markets in the week ended Tuesday June 15.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, narrowed upward by 100 yuan per tonne (0.7%) to 7,600-7,800 yuan ($1,187-1,219) per tonne on Tuesday, from 7,500-7,800 yuan per tonne the previous week.Spot supply has tightened since power...Read More
Steel scrap import prices into China remained stable on Wednesday June 16 despite reports of a new transaction for Shindachi busheling from Japan to China.A deal for 3,000 tonnes of Shindachi, the prime scrap grade traded in Japan, was heard at $550 per tonne cfr China. The deal was believed to have been done on Tuesday.There were mixed views about whether there was any price difference between Sh...Read More
There will be multiple routes taken to achieving net-zero emissions targets in the steel sector, not just one fix, the chief executive officer and managing director of India-based Tata Steel has said.According to TV Narendran, meeting decarbonization targets will be a challenge, but it is achievable."The transition isn't going to be easy or cheap - there are multiple solutions. I don't think there...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.In briefEarnings increased in line with increased production of flat steel, specifically hot-rolled coil, and exports, the company said in a release to London Stock Exchange on Wednesday June 16."With respect to flat steel, a significant development has occurred in t...Read More
Turkish steel mills remained silent in the scrap markets on Wednesday June 16, with market participants mulling the likely direction of price movements.The mills did not book any new cargoes on Wednesday, having agreed two deals the day before at lower prices, marking a potential change in direction for the market, which had become more positive so far in June.One market participant said, however,...Read More
European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of downstream steel users, Fastmarkets learnt on Wednesday June 16.On June 11, the EC presented a draft document of the adjusted measures to member states, suggesting a three-year...Read More
An overview of the consumer electronics markets and their latest price moves.Dalila Ouerghi and Cristina Belda...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...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 applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb at 20.10-20.70 on...Read More
Base metals prices weakened further during morning trading on the London Metal Exchange on Wednesday June 16, on news that the Chinese state reserve will sell copper, aluminium and zinc to ensure price stability. The three-month zinc price was down by 1.9% at 9am on Wednesday to $2,972 per tonne from its previous closing price of $3,029 per tonne. The metal had resisted sharp falls across the comp...Read More
Chinese aluminium market sentiment dipped in the morning of Wednesday June 16 after the National Food & Strategic Reserves Administration announced moves to calm the overheated commodity market, yet optimism remains for aluminium's price performance in the second half of 2021. China announced on Wednesday it will release its national base metals reserves in the near term to stabilize commodity pri...Read More
Chinese automotive production and sales figures both fell on a monthly and annual basis, although figures for new energy vehicles still increased, according to the data from the China Association of Automobile Manufacturers (CAAM).Carmakers produced 2.04 million units in May, down by 8.70% month on month and 6.80% year on year, while sales came to 2.13 million units, down by 5.50% from April 2021,...Read More
The hot-rolled coil price in China's domestic market extended its losses on Wednesday June 16 after the futures price fell for a second straight day on pessimist views for near-term steel demand. Domestic Eastern China (Shanghai): 5,440-5,480 yuan ($850-857) per tonne, down by 100-110 yuan per tonne. Two consecutive days of declines have sent the most-traded HRC contract on the Shanghai Futures Ex...Read More
Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiumsTin premiums in the...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade. Response to the Federal Reserve's announcement on interest rates continued this morning. The U.S. Dollar Index extended gains recorded late yesterday. Gold dropped an additional $62.80 to $1,798.80 per ounce.Investors were waiting for announcement of economic news this morning. The June...Read More
European steel H-beam prices rose again on Wednesday June 16, with some mills closing their order books for July bookings, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,000-1,030 ($1,212-1,249) per tonne on June 16, up from ?,?970-1,000 per tonne one week earlier.Various European mills have stepped out of the market...Read More
Fastmarkets is inviting feedback from the industry on its pricing methodology for its Northern Europe and United States hot-rolled coil indices as part of its annual methodology review process in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which is open until July 16, 2021, seeks to ensure that our meth...Read More