China's imports of manganese ore totaled approximately 2.95 million tonnes in July, an increase of 35.2% from 2.18 million tonnes in June and the highest volume in a single month since December 2019, according to the latest available Chinese customs data. But July's volume is about 4.5% lower than the 3.09 million tonnes imported in the same month of 2019, the data showed. Of the total volume impo...Read More
The European Commission (EC) has started an expiry review of anti-dumping measures on imports of cold-rolled flat stainless steel from China and Taiwan.The request for an expiry review was lodged by the European steel association Eurofer on May 27 this year."The request is based on the grounds that the expiry of the measures would be likely to result in continuation or recurrence...Read More
Starbucks (SBUX), an S&P 100 stock moved above $83.17 extending an intermediate uptrend. Expedia (EXPE), a NASDAQ 100 stock moved above $97.59 extending an intermediate uptrend. Pre-opening Comments for Thursday August 27thIndex futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade. Traders are waiting for Federal Reserve Chairman Jerome Powell's add...Read More
(Adds comment from Vale) By Sabrina Valle and Luciano Costa SAO PAULO, Aug 26 (Reuters) - Authorities from Brazil'sMinas Gerais state are seeking a freeze on nearly $5 billion inassets from miner Vale SA as a partial payment tocover economic and other damages from last year's deadlyBrumadinho dam disaster. In a statement on Wednesday, state and federal prosecutorsin Minas Gerais said they had sent...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 25 that are worth another look.Mexican steel scrap prices increased in the week ended Friday August 21, maintaining an uptrend started in late July, with the country's manufacturing sector continuing to recover gradually from the Covid-19 pandemic...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 25.Please click...Read More
The apparent reaffirming of a phase one trade deal between the United States and China continued to drive an increase in London Metal Exchange three-month prices during the afternoon on Tuesday August 25, with LME base metals futures universally closing up at the 5pm kerb. The LME base metals complex has become prone to following macroeconomic developments, and today was no exception, with the lat...Read More
Key data from the pricing sessions in Asia, Europe and the United States during the week to Tuesday August 25.China The spot Chinese domestic ferro-chrome market strengthened on tight availability, while an increase in spot demand was recorded amid a strong performance in the stainless steel sector. The UG2 chrome ore market stabilized with liquidity...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 25 that are worth another look.Mexican steel scrap prices increased in the week ended Friday August 21, maintaining an uptrend started in late July, with the country's manufacturing sector continuing to recover gradually from the Covid-19 pandemic...Read More
Mexican steel scrap prices increased in the week ended Friday August 21, maintaining an uptrend started in late July, with the country's manufacturing sector continuing to recover gradually from the Covid-19 pandemic and companies expecting higher prices in the United States.Sources reported that at least one company in the region near the northern city of Monterrey increased its prices by around...Read More
Turkish steel producers resumed deep-sea scrap purchasing on Tuesday August 25 after more than two weeks out of the market, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 38,000 tonnes of HMS 1&2 (80:20) at $283 per tonne, 1,500 tonnes of bonus scrap at $293 per tonne and 1,500 tonnes of busheling at $298 per tonne cfr.The same mill booked a...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 25 that are worth another look.Mexican steel scrap prices increased in the week ended Friday August 21, maintaining an uptrend started in late July, with the country's manufacturing sector continuing to recover gradually from the Covid-19 pandemic...Read More
The domestic price of hot-rolled coil in Northern Europe was fairly stable day-on-day on Tuesday August 25, after a significant increase the previous day, sources have told Fastmarkets.But the region's steelmakers are targeting price further price rises.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?442.83 ($522.80) per tonne on Tuesday August 2...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.August 2020 has seen the prices of most steel products move up in tandem around the world, in contrast to recent months when steel prices have moved in different directions depending on the market.This dynamic has been seen in most coated steel markets as well, with the prices for hot-dipped galvanized coil (HDG), pre-painted...Read More
Prices for steel rebar and billet in the United Arab Emirates decreased slightly this week because of weak demand, market sources said on Tuesday August 25.Domestic rebarRebar producers in the UAE have been offering the product at 1,800-1,830 dirhams ($490-498) per tonne ex-works for orders with September-production since August 17, with deals heard over the week at 1,750 dirhams per tonne e...Read More
China's domestic rebar prices stopped rising on Tuesday August 25 amid lower trading activity due to weaker futures.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($526-530) per tonne, unchangedBuyers cut their procurement rates amid losses in the futures market, which kept sellers from raising prices further.Several traders reported that their sales volumes had dropped by 40-50% from Monday'...Read More
Vietnamese steel exports more than doubled in June to 882,019 tonnes from 428,361 tonnes in May and remained high in July at 885,366 tonnes, data from Vietnam's customs showed this month. China was the key destination for Vietnamese steel in both months, importing 489,685 tonnes in June and 401,930 tonnes in July. High prices in domestic Chinese markets, an open arbitrage window, the short shippin...Read More
Mexican steel scrap prices increased in the week ended Friday August 21, maintaining an uptrend started in late July, with the country's manufacturing sector continuing to recover gradually from the Covid-19 pandemic and companies expecting higher prices in the United States.Sources reported that at least one company in the region near the northern city of Monterrey increased its prices by around...Read More
Turkish steel producers resumed deep-sea scrap purchasing on Tuesday August 25 after more than two weeks out of the market, sources told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 38,000 tonnes of HMS 1&2 (80:20) at $283 per tonne, 1,500 tonnes of bonus scrap at $293 per tonne and 1,500 tonnes of busheling at $298 per tonne cfr.The same mill booked a...Read More
Prices for iron ore fines went down on Tuesday August 25, with market sources saying that the restrictions on sintering in the Tangshan area of northern China have affected demand expectations.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $122.99 per tonne, down by $2.24 per tonne.62% Fe low-alumina fines, cfr Qingdao: $121.20 per tonne, down by $3.58 per tonne.58% Fe fines high-grade pre...Read More