Prices in Turkey's domestic market for hot-dipped galvanized coil (HDG) and color-coated coil were unchanged in the week to Friday June 19, with demand only moderate, sources told Fastmarkets.The export market, meanwhile, remained weak because the prices offered by the Turkish mills were regarded as too high, the sources added.Domestic pricesLocal producers were offering 0.5mm...Read More
Demand for pig iron in China continued during the week to Friday June 19, with new purchases of Commonwealth of Independent States- and Brazil-origin material further supporting global prices.At least one purchase was heard of Russia-origin material at around $345 per tonne cfr. Another two cargoes were heard to be booked from an international trader at $346 per tonne cfr. That was a slight increa...Read More
Pig iron export prices from Brazil went up again during the week to Friday June 19 on full order books and continued demand in China.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $310-320 per tonne on Friday, widening upward by $5 from $310-315 per tonne the week before.Read More
The United States' pig iron price went up again during the week to Friday June 19 despite weak sentiment in the country.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $325-330 per tonne on Friday, up by $5-8 from $320-322 per tonne a week before."Higher pig iron prices do not correlate at all with what...Read More
The inter-merchant spot price for light iron scrap in the UK was unchanged in the week to Friday June 19, consolidating last week's gain of almost 3.5% and reflecting a balance between relatively low levels of scrap arisings and subdued domestic steel demand.There has been enough overseas demand to traditional markets in Turkey and the Indian subcontinent from Europe in June to cement gains in Bri...Read More
Swedish state-owned iron ore producer LKAB reopened one of its plants on Friday June 19 following a temporary closure on Tuesday caused by Covid-19 quarantine measures. About 60 workers at LKAB's Malmberget site in G??llivare Municipality, Norrbotten County, of whom half have been diagnosed as carriers of the virus, stayed at home this week, the company said on Friday. This meant there were not en...Read More
Turkish steel producers continued to stay away from the deep-sea scrap market at the end of the week in anticipation of a downturn in prices, sources told Fastmarkets on Friday June 19.Steelmakers in the country have been quiet most of the week, having booked only two deep-sea cargoes on Monday, with most of the market participants believing that prices have reached a peak.On Monday...Read More
The London Metal Exchange has fined warehouse operator Istim ?30,000 ($37,120) for breaching clauses of its warehouse agreement, the exchange said in a notice to members on Friday June 19. Between September 12 and December 9, 2019, Istim erroneously instructed its London agent to issue primary aluminium warrants containing incorrect brand names and/or shapes on five separate occasions, the LME sa...Read More
Uncertainty in the aluminium market and poor nearby demand have pushed participants on to exchanges, fueling more liquidity on the Chicago Mercantile Exchange's aluminium European duty-paid contract (EDP). The duty-paid futures contract, based on the Fastmarkets P1020 duty-paid aluminium premium, had 15,522 lots of open interest as of the end of trading on Thursday June 18, compared with 11,6...Read More
Seaborne premium hard coking coal prices dropped slightly on Friday June 19 on a transaction of premium mid-volatility hard coking coal material at a lower price, while concerns over China's import restrictions constrained Chinese demand, putting pressure on seaborne prices.Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.20 per tonne, down $0.02 per tonne Premium hard coking...Read More
China's domestic hot-rolled coil prices continued to rise on Friday June 19 on robust trading, which motivated importers to raise their bids.DomesticEastern China (Shanghai): 3,750-3,770 yuan ($529-532) per tonne, up 60-70 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,650-3,680 yuan per tonne, up 50-70 yuan per tonneSources reported that trading activity in eastern China had picke...Read More
The three-month LME zinc price pushed up in morning trading on Friday June 19 and is now making a steady approach toward the $2,100 per tonne threshold, while more fresh cancellations kept copper's price elevated. Zinc's underlying price on the London Metal Exchange was recently trading at $2,085 per tonne, making further gains after reaching a four-month high of $2,052 per tonne at Thursday'...Read More
Markets were mixed again this morning, Friday June 19, while participants wait to see if second waves of Covid-19 are going to derail the V-shaped recovery in asset markets.Needless to say the V-shaped recoveries in prices seem to be ignoring the current depressed state of demand and the forecasts for 2020. Asian-Pacific equity markets were mainly firmer this morning, while pre-market major wester...Read More
Key data from the pricing sessions in London on Friday June 19. Key drivers Discounts of up to 10% are readily available on a formula basis which has contributed to spot market quietness, but has also put pressure on sellers to consider numbers at or below the bottom of the range. ...Read More
An overview of the minor metals markets and the reasons for their latest price moves.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 applies.Fastmarkets assessed cobalt standard grade, in-whs...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 applies.Fastmarkets...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Producers and consumers of stainless steel in Europe are operating with very thin margins that leave little room for changes to prices.The price of stainless steel in the European domestic market was unchanged throughout this week in sluggish trading conditions, sources told Fastmarkets on Friday June 19. With demand for stainless steel subdued because of the effects on the regional and global eco...Read More
The European Commission (EC) will skip the implementation of provisional measures into an anti-subsidy case on hot-rolled (HR) flat stainless steel originating from China and Indonesia, Fastmarkets understands. "The Commission informs interested parties that it will not impose provisional measures. The investigation will be continued," the EC said on June 18.The provisional measures were supposed...Read More