While the major Chinese stainless steel mills are expected to release their September tender prices for domestic ferro-chrome this week, the majority of market participants expect a price increase in near future tenders, including for September, Fastmarkets understands. Some market participants also long for such a price hike to boost the overall ferro-chrome market, which has been sluggish under...Read More
Here are five Fastmarkets MB stories you might have missed on Monday August 26 that are worth another look.China's hot-rolled coil prices dropped in both the spot and futures markets on August 26, amid escalating trade tensions between that country and the United States.While the major Chinese stainless steel mills are expected to release their September tender prices for domestic ferro-chrom...Read More
While the major Chinese stainless steel mills are expected to release their September tender prices for domestic ferro-chrome this week, the majority of market participants expect a price increase in near future tenders, including for September, Fastmarkets understands. Some market participants also long for such a price hike to boost the overall ferro-chrome market, which has been sluggish under...Read More
Seaborne coking coal prices gained some strength on Monday August 26, in line the expectations of some segments of the market last week.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.28 per tonne, up $0.61 per tonnePremium hard coking coal, cfr Jingtang: $166.25 per tonne, up $0.13 per tonneHard coking coal, fob DBCT: $138.76 per tonne, unchangedHard coking coal, cfr Jingtang: $153 pe...Read More
China's rebar market softened on Monday August 26 amid escalating trade friction between the country and the United States, with both sides announcing tariffs against the other's products ahead of the weekend.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($513-517) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,590-3,610 yuan per tonne, down 10-20 yuan per tonneThe Chinese gove...Read More
China's hot-rolled coil prices dropped in both the spot and futures markets on Monday August 26, amid escalating trade tensions between the country and the United States.DomesticEastern China (Shanghai): 3,670-3,680 yuan ($517-519) per tonne, down 50 yuan per tonneNorthern China (Tangshan): 3,650 yuan per tonne, down 50 yuan per tonneSpot prices plunged after mills lowered their offers in the morn...Read More
Seaborne iron ore prices dropped below $85 per tonne cfr again on Monday August 26 after trade tensions between China and the United States escalated over the weekend.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.91 per tonne, down $2.90 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $85.29 per tonne, down $2.90 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.32 per tonne, do...Read More
The rate of price decreases in the Vietnamese hot-rolled coil import market eased in the past week after a spurt of short-selling by aggressive traders.Fastmarkets' steel HRC import, cfr Vietnam assessment - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $470-475 per tonne cfr for the week ending Monday August 26, down $4-5 per tonn...Read More
Here are five Fastmarkets MB stories you might have missed on Monday August 26 that are worth another look.China's hot-rolled coil prices dropped in both the spot and futures markets on August 26, amid escalating trade tensions between that country and the United States.While the major Chinese stainless steel mills are expected to release their September tender prices for domestic ferro-chrom...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) has signed an agreement to buy Arconic's operations in Itapissuma, in Brazil's northeastern state of Pernambuco, for $50 million, CBA announced on Monday August 26.The unit has capacity to produce 50,000 tonnes per year of aluminium sheets and foils, CBA noted. The deal still has to be approved by antitrust regulation.Additionall...Read More
Trading of copper rod started on the Qianhai Mercantile Exchange (QME) on Friday August 23, becoming the fourth product to trade in the mainland China spot commodity platform following alumina, aluminium ingot and billet.A total of 641.86 tonnes of copper rods, a raw material for electric wires and cables, changed hands on the first trading day, with a turnover of 29.94 million yuan ($4.2 million)...Read More
Base metals prices on the Shanghai Futures Exchange tumbled across the board on the morning of Monday August 26, reflecting a further escalation of trade tensions between the United States and China after both sides said they would ramp up tariffs against each other.Last Friday, China said it would impose tariffs on $75 billion worth of US goods in response to a previous announcement by the US tha...Read More
Steel plate prices in the United States were steady again during the week ended Friday August 23, indicating that the two rounds of price increases announced by domestic plate mills have failed to gain traction.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US, was at $35.50 per hundredweight ($710 per short ton) on Friday August 23 - unchanged since July 19.&nb...Read More
Chinese reinforcing bar has regained full competitiveness in the Singapore import market, with offers falling to levels on par with Indian and Turkish rebar.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was at $475 per tonne for the week to Monday August 26,&...Read More
Import prices for steel slab in Southeast Asia and East Asia were flat during the past week, although market sentiment became more bearish after trade tensions between China and the United States escalated, market sources said.China's Ministry of Finance announced last week that it would impose import tariffs of 5-10% on US products in stages from September 1. "The worsening trade situation is lik...Read More
China's rebar market softened on Monday August 26 amid escalating trade friction between the country and the United States, with both sides announcing tariffs against the other's products ahead of the weekend.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($513-517) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,590-3,610 yuan per tonne, down 10-20 yuan per tonneThe Chinese gove...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.Hot-rolled coilEast China, domestic, commercial-grade HRC...Read More
China's hot-rolled coil prices dropped in both the spot and futures markets on Monday August 26, amid escalating trade tensions between the country and the United States.DomesticEastern China (Shanghai): 3,670-3,680 yuan ($517-519) per tonne, down 50 yuan per tonneNorthern China (Tangshan): 3,650 yuan per tonne, down 50 yuan per tonneSpot prices plunged after mills lowered their offers in the morn...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.Iron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at the October average of Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao and another 62% Fe index, plus a premium of $1.60 per tonn...Read More
Seaborne coking coal prices gained some strength on Monday August 26, in line the expectations of some segments of the market last week.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.28 per tonne, up $0.61 per tonnePremium hard coking coal, cfr Jingtang: $166.25 per tonne, up $0.13 per tonneHard coking coal, fob DBCT: $138.76 per tonne, unchangedHard coking coal, cfr Jingtang: $153 pe...Read More