The price for steel rebar in Egypt decreased in the week ended Thursday November 7 even as imports costs for steel billet rose, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,600-9,900 ($592-610) per tonne ex-works including 14% VAT, down from last week's E ?10,400-10,900 per tonne ex-works including VAT. Sales were made at E ?9,500-9,800 per tonne ex-works including...Read More
Trading activity in China's hot-rolled coil market thinned on Thursday November 7 while prices stayed flat, with sentiment dampened by rising output.DomesticEastern China (Shanghai): 3,540-3,550 yuan ($505-507) per tonne, unchangedNorthern China (Tangshan): 3,540 yuan per tonne, unchangedA trader in Shanghai said buying slowed during the day despite steady prices, with rising output resulting in s...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's domestic rebar prices edged up further on Thursday November 7 on declining inventory levels, though the futures market registered a drop on a pessimistic outlook.Eastern China (Shanghai): 3,730-3,760 yuan ($532-536) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,650-3,670 yuan per tonne, up 10 yuan per tonnesRebar inventory levels in the spot markets of major Chinese cities wer...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Latest transaction: rebarRebar East China, domestic,...Read More
Physical iron ore prices weakened further on Thursday November 7 amid losses in derivatives markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.17 per tonne, down $0.30 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $83.20 per tonne, down $0.09 per tonne.62% Fe low-alumina fines, cfr Qingdao: $82.05 per tonne, down $0.81 per tonne.58% Fe fines high-premium, cfr Qi...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreBeijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Pilbara Blend fines, sold at $83.20 per tonne cfr China, laycan December 2-11.Vale, Global Ore, 100,000 tonnes of 65% Fe Iron Ore Carajas, traded at $92.70 per to...Read More
Buyers outside China have emerged in the seaborne coking coal market this month, with a Japanese buyer said to have returned to the market for premium products on Thursday November 7.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.57 per tonne, down $0.72 per tonnePremium hard coking coal, cfr Jingtang: $146.12 per tonne, down by $0.04 per tonneHard coking coal, fob DBCT: $121.70 per t...Read More
Reports from the United States that the signing of a partial trade deal with China may be delayed until December has deflated recent enthusiasm; a trade deal, or even a partial trade deal, is still illusive - this has been going on for 16 months now.News of the delay seems to have put the brakes on across markets with the base metals trading either side of unchanged with no major moves, while equi...Read More
Chinese stainless steel prices dropped over the past week amid a drop in the nickel market, though participants are not too pessimistic for the former for the next week. The three-month nickel contract on the London Metal Exchange ended Wednesday November 6's trading session at $16,325-16,330 per tonne, down $525 per tonne from a week earlier. The most-traded December nickel contract on the Shangh...Read More
Barring those for nickel and tin, base metals prices on the Shanghai Futures Exchange were all down during the morning trading session on Thursday November 7.The broad-based weakness follows news that United States President Donald Trump and his Chinese counterpart Xi Jinping may not be able to sign a partial trade deal until December. The two sides had initially been expected to meet at the Asia-...Read More
Key data from the Wednesday November 6 pricing session in London. Key drivers The price for manganese flake in Europe edged down this week with several buyers able to book material in Rotterdam at cheaper levels close to $1,650 per tonne. Offers at $1,700 per tonne were turned down. The price has been under pressure on...Read More
Key data from Wednesday November 7 pricing session in Shanghai and London. Key drivers Cobalt hydroxide payables dropped at the start of November after suppliers cut their offer prices to encourage spot buying; spot trade has been slow since China's Golden Week holidays in early October. Chinese consumers have either stood on the sidelines or made aggressive bids (based on refinery net...Read More
Key data from the Wednesday November 6 pricing session in London. Key drivers: Liquidity above $18 per lb thins for both standard grade and alloy grade cobalt after recent weak spot demand entices cheaper offers. Swift rally from $12 per lb to $18...Read More
Fastmarkets invites market feedback on a consultation on a proposed increase in the frequency of its benchmark prices for cobalt standard grade and cobalt alloy grade, in-whs Rotterdam, to daily. This pricing notice was originally published on October 9. Feedback is invited until November 27. Fastmarkets currently assesses both prices on Wednesday and Friday each week.Initial feedback suggests tha...Read More
Southwestern China's Kunming Intermediate People's Court is auctioning the 19,228.05 tonnes of bismuth once held by the defunct Fanya Metal Exchange, according to an official notice published via the Alibaba judicial online platform on Thursday November 7.The auction is scheduled to begin at 10am Shanghai time on November 22 and will...Read More
Austrian steelmaking group Voestalpine has reported a fall in its earnings for the first half of the business year 2019/20 due to a "substantial damping of sentiment in its economic environment," the company said in its latest results statement.The economic downturn in Europe which has been gathering speed in key markets, and the conditions in the European steel market, had depressed earnings, the...Read More
Hebei Steel, China's second largest steel mill, has announced its purchase price for silico-manganese will be 6,100 yuan ($870) per tonne for November delivery, down by 1,200 yuan per tonne from its October tender price, market sources told Fastmarkets on Thursday November 7. This compares with the October delivery tender price set at 7,300 yuan per tonne in late September. Hebei Steel releas...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade. The Canadian Dollar slipped 0.17 to 75.58 U.S. following release of the October Canadian Employment Report at 8:30 AM EST. Consensus is an increase in employment of 15,000 versus a gain of 53,700 in September. Actual was a decline of 1,800. Consensus for the October Unemployment Rate was...Read More