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
Seaborne iron ore concentrate continued to fetch narrower discounts last week, while the pellet market stayed soft.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $93.12 per tonne last Friday August 23, down $3.16 per tonne from a week earlier. The movement was based on visible market activity detailed below, which was included in the index calculation acco...Read More
Key data from the pricing sessions in London and Shanghai in the week ended Friday August 23.EuropeKey drivers European grade 4-4-1 silicon price fell after one track of material was purchased at levels around ?,?1,500-1,555 ($1,670-1,731) per tonne. The grade 5-5-3 prices remained unchanged in the week ended August 23 due to limited activity in the spot market. Prices, however, remain under pres...Read More
The protracted economic battle between the United States and China will rewrite the rules of global trading and will not be resolved anytime soon, steel market sources in Asia told Fastmarkets."The world will wait and see who is able to gain the upper hand in the end and then follow the new rules of trading set by the winner," a major trader in China said.Market sources expect the entire ferrous s...Read More
Fastmarkets has amended the specifications of its price assessments for stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, $/tonne and stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne after a one-month consultation.The price assessment for stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, will have its location change...Read More
China's imports of copper scrap totaled 130,000 tonnes in July, down by 39.3% from the same month last year, according to the latest Chinese customs data. Imports for the first seven months of the year totaled around 980,000 tonnes, down by 27.8% from January-July 2018. China's ban on imports of low-quality copper scrap, which began at the start of this year, was the major reason be...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Johnson & Johnson added $1.75 to $129.55 after a court decision on use of opioids produced by the company resulted in a lower than expected penalty.JM Smucker (SJM $112.93) is expected to open lower after reporting lower than consensus first quarter sales and earnings. Bank of Nova Sc...Read More
(Corrects company name to Antofalla Minerals in paragraph 6,(not Antofagasta Minerals)) By Cassandra Garrison BUENOS AIRES, Aug 26 (Reuters) - Argentina's oppositioncandidate Alberto Fernandez met with mining companies on Mondayin capital Buenos Aires to discuss his plans for the sector, twosources who attended the meeting said. Fernandez, the front-runner for October's presidentialelection, told...Read More
Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week.Meanwhile, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $274.14...Read More
The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.Chinese tariffs on US-made cars and auto parts were placed on hold in April, but the Chinese government reinstated them on Friday August 23. Beijin...Read More
The steel billet import price in Egypt fell in the week to Thursday August 22, with market activity limited because buyers want to wait until the court makes a decision on safeguard duties. Egypt's Administrative Court suspended the temporary duties in July, prompting a flurry of court activity, which eventually led to the final session to discuss the matter being scheduled for...Read More
Turkey's military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey's largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel entered into compulsory liquidation in May 2019 and rece...Read More
Prices in most of the global markets for steel billet softened in the week ended Friday August 23 amid poor demand and falling raw materials prices.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, was $87.81 per tonne on Friday, down by $1.76 per tonne week on week.Meanwhile, Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $274.14...Read More
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look.The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May.The Chinese government has revived a 25% tariff on imports of US automobiles and a 5...Read More
Here are another five Fastmarkets MB stories you might have missed on Friday August 23 that are worth another look.The government of Canada has announced measures to prevent the transshipment of aluminium into the United States, building on commitments made when the US removed its Section 232 import tariffs in May.The Chinese government has revived a 25% tariff on imports of US automobiles and a 5...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Index futures recovered from overnight losses after the U.S. and China agreed to lower their rhetoric on trade negotiations. Index futures were virtually unchanged following release of the July Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 1.1% versus a revised...Read More
The Chinese government has revived a 25% tariff on imports of US automobiles and a 5% tariff on auto parts, set to take effect on December 15, which some market participants worry could imperil future investments as well as steel and base metals demand.Chinese tariffs on US-made cars and auto parts were placed on hold in April, but the Chinese government reinstated them on Friday August 23. Beijin...Read More