China's domestic hot-rolled coil prices weakened amid fluctuating futures on Tuesday June 9, while importers asked to pay lower after Indian mills tweaked the specifications of their cargoes offered to the country.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($513-516) per tonne, down 20 yuan per tonneA Shanghai-based trader said prices tracked the fluctuations in the futures market during t...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.As we anticipated, rebar prices in Eastern China (ex-warehouse basis) rose in May, coming within 0.6% of our forecast. Strong demand at home meant that Chinese producers were largely absent from the export market, maintaining their offers near $450 per tonne, while import prices into Singapore were set near $400 per tonne cf...Read More
CIS rebar and wire rod producers increased offers in the first half of June, supported by strengthening import scrap prices in Turkey as well as increased finished long steel prices. The Turkish market is considered indicative of price momentum because the country is one of the world's major scrap importers and long steel exporters. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More
Turkish deep-sea scrap import prices continued to rise on Tuesday June 9, with mills continuing to book more cargoes for July, sources told Fastmarkets.A steel mill in the Iskenderun region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25) and 30,000 tonnes of a mixture of shredded, plate & structural (P&S) and busheling at an average price of $265 per tonne cfr.The cargo w...Read More
Seaborne iron ore prices eased on Tuesday June 9 amid announcements from the Dalian Commodity Exchange of efforts to stamp out market rumors and strengthen regulation. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.60 per tonne, down $1.07 per tonne 62% Fe low-alumina fines, cfr Qingdao: $107.30 per tonne, down $1.35 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $93.39 per...Read More
China's rebar prices retreated on Tuesday June 9 in both domestic and export markets due to softer demand. Domestic Eastern China (Shanghai): 3,590-3,620 yuan ($507-512) per tonne, down by 40 yuan per tonne at the midpoint Heavy rains in eastern and northern regions have disrupted construction work and reduced rebar demand, weighing on prices. Meanwhile, rebar futures dropped in last night's tradi...Read More
The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.A gradual slowdown in the construction industry in Europe due to Covid-19 is restraining steel long consumption, with...Read More
Polish coal miner Jastrzebska Sp??lka Weglowa (JSW), the largest coking coal producer in Europe, has suspended production at two of its mines following the steep increase in new Covid-19 cases among its workers, the company said on Monday June 8.JSW will temporarily halt coal production at the KWK Budryk and KWK Knur??w-Szczyglowice mines from June 9 to June 28 due to the worsening of the epidemic...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More
Cobalt prices held close to levels last seen in August 2019 on Tuesday June 9, with buyers largely resisting spot market purchases.Fastmarkets' price assessments for cobalt standard grade, in-whs Rotterdam and cobalt alloy grade, in-whs Rotterdam were both unchanged at $14.60-15 per lb on June 9.Alloy grade and standard grade prices were down 18.2% and 14.2% respectively from March highs...Read More
The main Japanese ports (MJP) premium edged down during the week to Tuesday June 9 on lower offers, while premiums in the rest of Asia, Europe and the United States maintained their levels on steady fundamentals.MJP premium weakens while third-quarter negotiations are under wayRotterdam premiums flat, supported by contangoUS Midwest premium unchanged in lackluster marketMJP premium pressured down...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.As we anticipated, rebar prices in Eastern China (ex-warehouse basis) rose in May, coming within 0.6% of our forecast. Strong demand at home meant that Chinese producers were largely absent from the export market, maintaining their offers near $450 per tonne, while import prices into Singapore were set near $400 per tonne cf...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 9 that are worth another look.The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.Ferrous scrap pr...Read More
The LME three-month copper price was higher at the close on Tuesday June 9, breaching nearby resistance at $5,700 per tonne against strong turnover, while selling pressure saw nickel futures fail to finish above $13,000 per tonne. Copper's outright price on the London Metal Exchange closed at $5,774 per tonne on Tuesday afternoon, climbing from an intraday low of $5,676 per tonne, while turno...Read More
Seaborne iron ore prices eased on Tuesday June 9 amid announcements from the Dalian Commodity Exchange of efforts to stamp out market rumors and strengthen regulation. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.60 per tonne, down $1.07 per tonne 62% Fe low-alumina fines, cfr Qingdao: $107.30 per tonne, down $1.35 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $93.39 per...Read More
China's domestic hot-rolled coil prices weakened amid fluctuating futures on Tuesday June 9, while importers asked to pay lower after Indian mills tweaked the specifications of their cargoes offered to the country.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($513-516) per tonne, down 20 yuan per tonneA Shanghai-based trader said prices tracked the fluctuations in the futures market during t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.As we anticipated, rebar prices in Eastern China (ex-warehouse basis) rose in May, coming within 0.6% of our forecast. Strong demand at home meant that Chinese producers were largely absent from the export market, maintaining their offers near $450 per tonne, while import prices into Singapore were set near $400 per tonne cf...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 9.Please click...Read More
Domestic prices for hot-rolled coil in Europe were largely stable day on day on Tuesday June 9 even as demand remained slow, sources told Fastmarkets.Market participants believe that domestic prices are close to a bottom and that European mills could announce a rise in offer prices after the European authorities make a final decision in the safeguard review case at the end of this month.Fastmarket...Read More