The price of steel rebar in Russia's Central Federal District around Moscow was steady in the week to Monday June 7, aided by solid demand from end-users, sources told Fastmarkets.Tula Steel was heard offering rebar to the region at 75,000-77,000 roubles ($1,029-1,057) per tonne cpt, sources said, compared with 75,000 roubles per tonne heard seven days ago.Severstal was offering June-delivery reba...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday's worse-than-expected US employment report ran out of steam.China's imports climbed 51% and exports were up 28% year on year in May.The US Dollar Index weakened after Friday's disappointing employment report in the United States.Base metalsLME three-month base metals pri...Read More
Prices for carbon steel plate in the United States strengthened for the first time in three weeks while distributors mostly failed in attempts to book spot deals before the next round of anticipated price increases from mills. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US was at $69.50 per hundredweight ($1,390 per short ton) on Friday June 4, up...Read More
ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on Monday June 7."ArcelorMittal confirms that it has submitted an offer to acquire the Hayange and Ascoval steel plants which are currently owned by GFG Alliance," ArcelorMittal said.A deadline for publication of the provisi...Read More
Export pig iron prices from Brazil remained strong during the week to Friday June 4 on further sales, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, unchanged week on week.A new sale from the south of Brazil was heard...Read More
Turkish steel mills have extended their silence in the deep-sea scrap import markets amid weak finished steel sales, market participants told Fastmarkets on Monday June 7. The most recent deep-sea trade was done on May 28, when a steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $503 per tonne and shredded scrap at $513 per tonne cfr. ...Read More
Seaborne coking coal prices slightly increased in the cfr market amid positive market sentiment and inched down in the fob market due to weak procurement and speculative buying on Monday June 4, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $164.86 per tonne, down by $0.91 per tonnePremium hard coking coal, cfr Jingtang: $282.87 per tonne, up by $0.83 per tonneHard coking coa...Read More
Iron ore prices fell on Monday June 7, following the downtrend in steel prices amid weak steel demand during the rainy season in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.42 per tonne, down $4.93 per tonne62% Fe low-alumina fines, cfr Qingdao: $204.18 per tonne, down $5.02 per tonne58% Fe fines high-grade premium, cfr Qingdao: $176.99 per tonne, down $4.41 per tonne65% Fe B...Read More
China imported 89.79 million tonnes of iron ore in May, up by 3.17% from 87.03 million tonnes a year earlier, according to Chinese customs data released on Monday June 7. Last month's volumes were down by 8.91% from the 98.57 million tonnes of iron ore that China imported in April. Iron ore prices were highly volatile in May. Fastmarkets' price index for iron ore 62% Fe fines, cfr Qingdao...Read More
Prices for seaborne iron ore pellets and concentrate rebounded in the week ended Friday June 4 following an uptrend in the futures market despite limited liquidity.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $60.80 per tonne, down $0.20 per tonne. 65% Fe blast furnace pellet, cfr Qingdao: $290.99 per tonne, up $11.17 per tonne.66% Fe concentrate, cfr Qingdao:...Read More
China's domestic hot-rolled coil prices tumbled on Monday June 7, the first working day of the week, following the release of data showing a big drop in exports in May.DomesticEastern China (Shanghai): 5,500-5,510 yuan ($859-861) per tonne, down by 80-120 yuan per tonne.The latest customs data shows that the country's steel exports fell by a third last month in comparison with April, following the...Read More
China's domestic rebar prices dropped on Monday June 7 on falling futures, albeit at a much smaller amount amid the emergence of more steelmaking restrictions in the country's production hub of Tangshan in the northern region.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($782-786) per tonne, down by 30 yuan per tonneRerolling mills in Tangshan's Fengrun district have been ordered to cut prod...Read More
Key data from the Friday June 4 pricing session in London and China.Key drivers Cobalt hydroxide payables widened down, with some suppliers reporting that buyers would not pay at the top of the range. Buyers have been resisting higher offers for some weeks, without...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...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...Read More
Belgian battery-materials manufacturer Umicore has appointed Mathias Miedreich chief executive officer to succeed Marc Grynberg, with the appointment to take effect in the fourth quarter of 2021, the company said on Monday June 7.Grynberg and Miedreich will work together to achieve a smooth transition, the company said.Miedreich has worked at Faurecia, a global automotive supplier with a strong fo...Read More
Key data from Fastmarkets' pricing session in China on Friday June 4.Key drivers Spot availability has tightened amid higher demand and lower supply due to the booming steel industry and some major producers putting their facilities under...Read More
China's domestic magnesium price increased sharply after authorities in Zhongwei - a key ferro-alloy production hub in Ningxia Hui Autonomous Region - issued a production cut notice due to high energy-consuming enterprises on Thursday June 3.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 18,300-19,000 yuan ($2,861.07-2,970.51) per tonne on Friday June 4, an increase of 300...Read More
Key data from Fastmarkets' pricing session in China on FridayJune 4.Key drivers The China silicon price narrowed slightly down following a correction to the previous price rally, but overall sentiment remains positive...Read More