Zinc and tin were down the most at the 9am open on June 3, while all base metals fell on the London Metal Exchange in reaction to the rising dollar and in anticipation of market-setting news for the future direction of trade.Zinc's three-month price, which was one of three to rise on the LME on Wednesday, but was down 1% to $3,050.50 per tonne on Thursday morning. On Wednesday it had register...Read More
Hot-rolled coil prices in the United States have returned above $81 per hundredweight ($1,620 per short ton), with buyers reporting that some consumers have started to push back against high prices for steel, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $81.23 per cwt ($1,624.60 per ton) on Thursday June 3, up by 0.74% from $80.63 per cwt t...Read More
Steel reinforcing bar prices in the United States increased again on Wednesday June 2, with the most recent hike from domestic producers accepted by the market.Fastmarkets' assessment for steel rebar, fob mill US was $44 per hundredweight ($880 per short ton) on June 2, up 0.57% from $43.75 per cwt the previous week.US marketThe most recent round of mill hikes - led by Commercial Metals Co and fol...Read More
Turkish steel billet prices have gone down this week on falling costs for imported scrap raw material, market participants said on Thursday June 3.The Turkish scrap import prices have been falling over the week amid limited demand from the mills in the country.Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, at $495.27 per tonne on Wedne...Read More
Domestic steel rebar prices in Turkey have gone down over the past week amid falling scrap costs, market sources said on Thursday June 3.Turkish scrap import prices have fallen over the week amid limited demand from the mills in the country.Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, at $495.27...Read More
The Turkish long steel export market remained quiet over the past week on a lack of demand from Southeast Asia, while falling scrap costs were increasing the pressure on prices, market participants told Fastmarkets on Thursday June 3.The steelmakers in Turkey decreased their export rebar offers but still failed to find demand for their material.The mills were offering rebar for export at $730 and...Read More
Sentiment in the steel wire rod market in the south of Europe remained quite optimistic over the past week, aided by persistent shortages, good demand and expensive raw materials, Fastmarkets heard on Wednesday June 2.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?820-840 ($1,001-1,025) per tonne on June 2, up from ?,?800-810 per...Read More
No bulk scrap cargoes have been sold into Bangladesh over the past seven days, following the flurry of deals in the middle of last week, sources told Fastmarkets on Thursday June 3.HMS 1&2 (80:20) was on offer from the United States at $525-530 per tonne cfr earlier this week, but no new deals were done, sources said, with the most recent US deals being two deep-sea cargoes of shredded scrap that...Read More
Iron ore prices pushed up on Thursday June 3, supported by rising steel and coke values, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $210.99 per tonne, up $1.80 per tonne62% Fe low-alumina fines, cfr Qingdao: $212.81 per tonne, up $1.31 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184.58 per tonne, up $2.28 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $241....Read More
Seaborne premium hard coking coal prices climbed up in the fob market on Thursday June 3 amid more buying interest but slightly slipped in the cfr market due to weak demand after some major Chinese steel mills finished restocking late last week and early this week, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.77 per tonne, up $7.93 per tonnePremium hard coki...Read More
Prices for steel scrap imported into China edged up on Thursday June 3 amid improving sentiment in the domestic market, sources said.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China - which takes into account prices at ports in eastern China - was $510-530 per tonne on Thursday, up by $10-15 from Wednesday.Many Chinese mills raised their purchase price...Read More
China's Delong Group and New Tianjin Steel are partnering on two projects to further develop steel-making capacity in Indonesia, the companies said on May 30.New Tianjin Steel - a subsidiary of Delong Group, Tsingshan Group and Risun Group - signed a contract to build Detian Coking Project, together with supporting facilities such as gas purifiers. The new coke plant will produce 4.7 million tonne...Read More
China's domestic rebar prices continued to increase on Thursday June 3 on futures gains, but heavy rains slowed the increase compared with Wednesday's uptick, sources told Fastmarkets. DomesticEastern China (Shanghai): 5,030-5,050 yuan ($787-790) per tonne, up by 30 yuan per tonne The transportation of rebar by truck and construction activity were interrupted by heavy rains in certain parts of eas...Read More
China's domestic stainless steel prices moved up over the week ended Wednesday May 2 on a strengthening of the nickel market, but demand weakened.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,173 per tonne, up by $975 per tonne from $17,198 per tonne a week earlier. The most-traded July nickel contract on the Shanghai Futures Ch...Read More
Key data from the pricing session in London on Thursday June 3.Key drivers: Thursday was a busy day of trading, with 41 tonnes of business captured in the pricing session. Material was transacted either side of the price range for standard grade,...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...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 19.80-20.60...Read More
Ukraine's Privat Group, a major producer of manganese alloys, hit a monthly production target for May of almost 59,000 tonnes at its Nikopol ferro-alloys plant, up by about 2,000 tonnes from April amid strengthening European prices this year, an industry source said.Privat is also considering whether to start an additional silico-manganese furnace at Nikopol, which would use low-phosphorus slag as...Read More
Five grades of steel scrap will no longer need to undergo customs inspections at ports in China when they are imported into the country, beginning on June 10.But five other grades of the steelmaking raw material will undergo such inspections from the same date.China's General Administration of Customs said on Thursday June 3 that it would no longer carry out imported commodity inspections on a lis...Read More
China's Ceke Port has requested the country's customs authorities to clear only 90 trucks per day from Mongolia - instead of the typical 200 per day - from Wednesday June 2 after a truck driver tested positive for Covid-19 a day earlier, sources told Fastmarkets.Ceke Port - located in Alashan League, a division of China's Inner Mongolia autonomous region - is a major port of entry on the country's...Read More