The European Commission (EC) has toughened the existing safeguard measures on imports of steel products in the second review of the matter, it said on Tuesday June 30.The reviewed measures will come into force from July 1, 2020, and will remain in place for one year.The EC introduced two general adjustments to the quota system, intended to guarantee an orderly return to the market of all suppliers...Read More
Most major foreign buyers of cut flat steel imports from China in May due to non-competitive prices, but a few buyers of rebar have signed direct supply contracts in large tonnages with Chinese mills. China's major steel exportsFlat steel: 2.46 million tonnes, down by 27.5% year on year, down by 39.6% from April, China Customs data shows. Steel bar: 690,000 tonnes, down by 11.5% year on year and d...Read More
Ferrous scrap prices in Mexico decreased for most grades over the past week due to the downward trend in international markets and continued weak domestic demand.Some mills in the country were applying price cuts of around 150 pesos ($6.51) for busheling scrap and the movement affected other grades.Fastmarkets' assessment of steel scrap No1 busheling, consumer buying price, delivered mill Monterre...Read More
Turkish steel producers continued to stay away from deep-sea scrap purchases in anticipation of lower prices, sources said on Tuesday June 30.Mills in the country booked only two deep-sea cargoes last week, totaling 67,500 tonnes. This was mainly because of weak finished long steel markets and falling prices, according to sources.Turkish...Read More
Seaborne iron ore prices have fluctuated at current levels amid increasing Chinese manufacturing PMI, which is helping market sentiment to recover, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $99.43 per tonne, down $0.42 per tonne.62% Fe low-alumina fines, cfr Qingdao: $102.55 per tonne, up $0.10 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $90.30 per tonne, up...Read More
Seaborne coking coal prices across the board stayed relatively flat on Tuesday June 30 due to a lack of trading, Fastmarkets heard. Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.46 per tonne, down $0.11 per tonne Premium hard coking coal, cfr Jingtang: $122.80 per tonne, down $0.01 per tonneHard coking coal, fob DBCT:...Read More
China's domestic hot-rolled coil prices rebounded on Tuesday June 30, but importers still had little interest in shipments from India due to an increase in freight rates.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($525-530) per tonne, up 10-20 yuan per tonnePrices in the domestic market rebounded amid rising futures. A Shanghai-based trader said transactions were largely being concluded at...Read More
China's domestic rebar prices fell further on Tuesday June 30 amid soft demand despite the country's steelmaking hub of Tangshan announcing a new round of restrictions for July.Domestic Eastern China (Shanghai): 3,510-3,540 yuan ($496-500) per tonne, down by 20 yuan per tonneLocal authorities in Tangshan, in northern China, have ordered some steel mills in the city to restrict their production rat...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt alloy...Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard...Read More
A new anti-dumping case has been brought by the two dominant silicon metal producers in the United States, petitioning against silicon producers in Bosnia & Herzegovina, Iceland, Malaysia and Kazakhstan.The complainants are Globe Specialty Metals, the New York-based unit of Ferroglobe, and Mississippi Silicon (MS), based in the US state of Mississippi. Together, the pair make the vast majority of...Read More
The roll-out of fifth-generation (5G) networks and their associated infrastructure will provide the minor metals sector with the greatest potential for growth, panelists said in Fastmarkets' recent minor metals webinar. The Covid-19 pandemic and lockdown measures have underscored the need for greater bandwidth capacity along with fast and reliable networks, delegates heard. "We can all see that re...Read More
There is significant scope to grow tantalum output outside of Central Africa if prices keep increasing, Dharam Kotecha, director at Halcyon Metals, said during a Fastmarkets webinar this month."When prices for tantalite from Central Africa increase, there are more offers from South American producers," Kotecha said during a panel discussion on opportunities in minor metals post Covid-19 - hosted b...Read More
The European markets for both high- and low-carbon ferro-chrome, delivered, softened in the week ended Friday June 26 in response to weak consumption.Both consumers and producers of ferro-chrome said that they would be reducing their outputs by more than usual during the summer slowdown in 2020, in response to the low economic activity. Fastmarkets' weekly assessment of the price for ferro-chrome...Read More
The European spot ferro-silicon price resumed its downturn last week, falling to a level last seen in March 2016 with consumers in the steel sector dragging down the cost of feedstock against a slump in end-user consumption. Confirmed deals in Europe included a 400-tonne sale reportedly done at ?,?870 ($978) per tonne delivered, with another 75 tonnes sold at ?,?910-920 per tonne. Another deal for...Read More
The European markets for both high- and low-carbon ferro-chrome, delivered, softened in the week ended Friday June 26 in response to weak consumption.Both consumers and producers of ferro-chrome said that they would be reducing their outputs by more than usual during the summer slowdown in 2020, in response to the low economic activity.Fastmarkets' weekly assessment of the price for ferro-chrome,...Read More
China's leading stainless steel producers - Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - have all lowered their high-carbon ferro-chrome tender prices for July following a recent backswing in upstream chrome ore prices.Meanwhile, the continuing supply tightness affecting ore and alloy from South Africa could limit the domestic price downtrend in the near term, market participants s...Read More
There are many crosswinds for the markets to contend with this morning, Wednesday July 1, with better manufacturing data in Asia and interest rate cuts in China, but a deteriorating Covid-19 situation - especially in parts of the Americas - and raised geopolitical tension over Hong Kong.* China’s Caixin and Japan’s manufacturing purchasing managers’ indices (PMIs) climbed to 51.2 fr...Read More
CANADA DAY U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Index futures recovered following release of the June ADP Private Employment report released at 8:15 AM EDT. Consensus was an increase of 3.000 million versus an upwardly revised gain of 3.065 million in May. Previous May report indicated a drop of 2.760 million. Actual in Jun...Read More
Here are five Fastmarkets stories you might have missed on Monday June 29 that are worth another look.Mining company BHP Group and steel producer China Baowu Steel Group have completed their first iron ore trade on MineHub Technologies Inc's blockchain-based platform.Poor physical aluminium market conditions have forced people to store excess metal, pushing total aluminium stocks on the London Met...Read More