Special bar quality (SBQ) steel prices in the United States have dropped due to reports of discounting prompted by continuing weak demand and declining ferrous scrap costs, Fastmarkets has learned. On the hot-rolled side of the market, Fastmarkets' monthly price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US fell to $31.50 per cwt ($630...Read More
Seaborne iron ore prices fell on Monday July 20, with slow trading activity and no clear trend emerging, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $109.54 per tonne, down $0.77 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $111.44 per tonne, down $0.89 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $97.86 per tonne, down $1.13 pe...Read More
A major Japanese steelmaker is trying to increase its plate offers for Southeast Asia by $30 per tonne from last month to boost profit margins, a source with knowledge of the matter told Fastmarkets.The mill plans to offer $540-550 per tonne cfr Southeast Asia for October-delivery steel plate, after it received enough orders for September-delivery plate that was offered at $510-520 per tonne cfr S...Read More
Seaborne iron ore concentrate and pellet prices surged in the week to Friday July 17, inspired by higher prices for mid- and high-grade fines, traders told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $119.24 per tonne, up $6.63 per tonne from $112.61 per tonne a week earlier. 65% Fe blast furnace pellet, cfr Qingdao: $128.28 per tonne, up $8.11 per tonne from...Read More
Here are five Fastmarkets stories you might have missed on Monday July 20 that are worth another look.Steel products output in Ukraine reduced by 4.6% year on year in January-June 2020 to 9.03 million tonnes, according to a report published by national steel union Ukrmetallurgprom on Thursday July 16.Brazilian copper and brass products manufacturer Termomecanica is set to take its internationaliza...Read More
CIS export steel slab prices continued to trend upward in the week to Monday July 20, with some suppliers managing to win deals at higher prices while the general availability of material in the region was low.A large cargo of Ukrainian slab was reported sold to Italy within the range of $405-410 per tonne cfr, which would net back to $385-390 per tonne fob Black Sea. This was $5-10 per tonne high...Read More
Declining raw material costs and continued weak demand have worked in tandem to cause cold-heading quality (CHQ) and high carbon wire rod prices to drop, sources told Fastmarkets. Fastmarkets' assessment for steel wire rod cold-heading quality, ddp settled at $36.50 per hundredweight ($730 per short ton) on Friday July 17, down 5.2% from $38.50 per cwt last month.The cost of steel scrap No1 bushel...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscowwidened in the week to Monday July 20, with higher offers from steel mills supported by strong construction sector demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was at 34,000-35,000 roubles ($473-487) per tonne on July 20, includ...Read More
A major Japanese steelmaker is trying to increase its plate offers for Southeast Asia by $30 per tonne from last month to boost profit margins, a source with knowledge of the matter told Fastmarkets.The mill plans to offer $540-550 per tonne cfr Southeast Asia for October-delivery steel plate, after it received enough orders for September-delivery plate that was offered at $510-520 per tonne cfr S...Read More
Crude steel output in Italy decreased by 7.88% year on year in June due to the decrease in steel demand amid the effects of the Covid-19 lockdown measures, Italian steel association Federacciai said on Friday July 17.The county's crude steel production totaled 1.92 million tonnes in June 2020, down from 2.08 million tonnes in the same months of 2019.The June decrease, however, was less then the re...Read More
A summary of Rio Tinto's second-quarter iron ore production report released on Friday July 17.In brief Output from Pilbara operations in Western Australia increased by 4% year on year and by 7% quarter on quarter.Shipments from the Pilbara rose by 1% year on year and by 19% quarter on quarter despite operational controls made in...Read More
Here are five Fastmarkets stories you might have missed on Monday July 20 that are worth another look.Steel products output in Ukraine reduced by 4.6% year on year in January-June 2020 to 9.03 million tonnes, according to a report published by national steel union Ukrmetallurgprom on Thursday July 16.Brazilian copper and brass products manufacturer Termomecanica is set to take its internationaliza...Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More
The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Monday July 20, with the metal topping gains over the afternoon despite thin turnover, while a steady uptick in copper futures saw the price push higher over the afternoon.Lead's outright price on the LME closed at $1,840.50 per tonne on Monday afternoon, climbing from an intraday low o...Read More
Here are five Fastmarkets stories you might have missed on Monday July 20 that are worth another look.Steel products output in Ukraine reduced by 4.6% year on year in January-June 2020 to 9.03 million tonnes, according to a report published by national steel union Ukrmetallurgprom on Thursday July 16.Brazilian copper and brass products manufacturer Termomecanica is set to take its internationaliza...Read More
The London Metal Exchange is looking for ways to boost its options market, which has been struggling for some years to replicate the growth seen in the same sector among its peers.The exchange has launched a consultation, scheduled to end on July 29, on developing electronic options via a new trading platform while retaining its current inter-office options trading structure.Items up for discussio...Read More
The mining industry does a huge amount of good for local communities, to say nothing of its essential contribution to society through the materials it produces. Unfortunately, it all too often manages to give itself a bad name, worsening negative perceptions of the sector through accidents, spills and a failure to act as a steward of the environments in which it operates. In the past month alone,...Read More
The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More
The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Monday July 20, with the metal topping gains over the afternoon despite thin turnover, while a steady uptick in copper futures saw the price push higher over the afternoon.Lead's outright price on the LME closed at $1,840.50 per tonne on Monday afternoon, climbing from an intraday low o...Read More