The export market for flat steel products from the Commonwealth of Independent States improved during the week to Tuesday June, 9 on strong iron ore prices and increasing demand from Asia. Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $395-410 per tonne on Tuesday, up from $365-375 per tonne on January 1."Offers, and the market...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
Export slab prices from the Commonwealth of Independent States (CIS) continued to strengthen over the week to June 9, while suppliers managed to win higher sales prices, sources said.One large cargo of Ukrainian material was reported sold to Turkey slightly above $370 per tonne cfr, which would be equivalent to $360 per tonne fob Black Sea, Fastmarkets learned.Initial offers from the supplier were...Read More
The prices for steel rebar in the United Arab Emirates remained stable over the past week, but market sources expect it to increase soon because of rising raw material prices, Fastmarkets heard on Tuesday June 9.Fastmarkets' daily index for 62% Fe fines, cfr Qingdao was $104.60 per tonne on June 9, rising from $101.32 per tonne on June 2.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More
Ferrous scrap exports from the United States declined by 15.6% month on month in April due to shipments to Turkey nearly halving compared with March volumes, according to latest figures from the US Census Bureau.US exports of ferrous scrap totaled 1,190,118 tonnes in April, down by 219,871 tonnes compared with 1,409,989 tonnes in March and 1,436,500 tonnes in February.Shipments to Turkey, which fe...Read More
Ferrous scrap prices in Mexico remained largely sideways this week in the steelmaking regions of Monterrey and Bajio as manufacturing activity began to resume with the easing of Covid-19-related restrictions.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey unchanged at 6,100 pesos ($279) per tonne on Tuesday June 9, while the steel scrap No1 heavy...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
Seaborne coking coal prices fluctuated slightly on Tuesday June 9, with market participants uncertain whether policies would change and how soon demand would rebound, sources said. Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.32 per tonne, down $1.02 per tonne Premium hard coking coal, cfr Jingtang: $116.33 per tonne, up $1.05 per tonneHard coking coal, fob DBCT: $87.25 per tonne, u...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
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 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 Rotterdam at $14.60-15 per lb on Tuesday June 9, 2020. Bid at $14.6...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 grade, in-whs Rotterdam at $14.60-15 on Tuesday June 9, 2020. Prices indicated at $14.60...Read More
US non-ferrous scrap exports fell by 20.1% month on month in April while the Covid-19 pandemic weighed on global trade, bucking the trend of sequential increases seen in January-March 2020, according to the latest figures from the US Department of Commerce.Non-ferrous exports totaled 204,044 tons in April, down by 20.2% from 255,520 tons in March and down by 28.4% from 284,851 tons in April 2019.Y...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
On average, base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up by 0.2% and 0.4% respectively at 7.07am London time on Wednesday June 10. Asian-Pacific equities were mixed but pre-market major western equity index futures were up this morning, showing some mixed currents ahead of the US Federal Open Market Committee (FOMC) economic projections and statement that a...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Investors are waiting for news on interest rated from the Federal Reserve at 2:00 PM EDT. Consensus is that the Fed Fund Rate will remain unchanged at 0.25%. Federal Reserve Chairman Powell will give an update at 2:30 PM EDT.Index futures were virtually unchanged following release of the...Read More
Here are five Fastmarkets stories you might have missed on Monday June 8 that are worth another look.Workers at Italian flat steel producer ArcelorMittal Italia will go on strike on Tuesday June 9 to protest job cuts, presented as part of new industrial plan, Italian trade unions Fim, Fiom and Uilm said on June 6.The main workers' union representing employees of Cobre Panam??, Utramipa, is pressur...Read More
China is leading the world in a V-shaped recovery from the aftermath of the Covid-19 pandemic, with other countries slower to recover but showing signs of green shoots, according to the chief financial officer of Alcoa. William Oplinger told the 11th annual Deutsche Bank Global Industrials and Materials summit that China's industrial production, vehicle production, commercial starts and food and d...Read More
The three-month tin price on the London Metal Exchange was the standout performer at the close of trading on Monday June 8, keeping well supported throughout the afternoon amid falling exchange stocks, while aluminium futures breached $1,600 per tonne at the close for the first time since March 19.Tin's underlying price closed at $16,665 per tonne on Monday afternoon, up from an intraday low of $1...Read More