Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil declined during the week to Tuesday August 20 after steel mills lowered their asking prices.The move failed to boost market activity, however, because of a bearish market sentiment and expectations that prices will reduce further, market sources said.Cold rolled coilFastmarkets' weekly price assessment for steel cold-rolled...Read More
China's domestic hot-rolled coil prices retreated on Tuesday August 20, which led some producers to lower their export offers to secure more orders by the end of the month.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,720-3,730 yuan per tonne, widening downward by 10 yuan per tonneSpot prices retreated after trading acti...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, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o logged slight increases in the week ended Friday August 16, with some sellers were reportedly receiving higher spot prices from certain consumers.In the Monterrey region, a major mill was heard to be raising prices for higher grades of scrap, including busheling, by around 300 pesos per tonne - the second...Read More
Developments in China's steel industry and the country's persistent focus on implementation of environmental policies will underpin demand for high-quality seaborne iron ore, BHP said in an outlook document on Tuesday August 20.In the medium to long term, the supply side reform, the expected migration of steel capacity to coastal regions, the inexorable trend toward larger furnaces and more string...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 oreVale, Beijing Iron Ore Trading Center,...Read More
Seaborne iron ore prices continued to dip on Tuesday August 20 amid limited buying activity.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $87.94 per tonne, down by $0.46 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $88.32 per tonne, down by $0.46 per tonne. Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao: $87.79 per tonne, d...Read More
Seaborne coking coal prices for premium hard coking coal materials firmed this week on continued buying activity from China. A cargo of top-quality Australian premium low-vol materials changed hands at $167.25 per tonne cfr China, with a mid-vol quality cargo changing hands at $160 per tonne cfr China, sources said on Tuesday August 20. The trades resulted in Fastmarkets' daily index for premium h...Read More
China's domestic rebar prices stopped rising on Tuesday August 20 amid a weakening of steel futures and soft demand. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($524-528) per tonne, unchangedNorthern China (Beijing): 3,620-3,640 yuan per tonne, unchangedBuyers, having done some restocking on Monday, cut their procurement rates, which kept rebar prices from rising further, sources said. De...Read More
Base metals prices on the Shanghai Futures Exchange were broadly higher during morning trading on Tuesday August 20, with the complex benefitting from improved risk sentiment following positive signals in the ongoing trade war between China and the United States.Risk sentiment received a boost from news that the US government granted a temporary general license that permits companies in the US to...Read More
Chinese ferro-silicon prices softened this past week on weak domestic demand, while the European market similarly retreated following recent price gains after consumers remained sidelined. Chinese domestic ferro-silicon prices widen lower on weak mill demandChinese export prices hold on thin trading amid uncertainty from US-China trade negotiationsEurope market retreats after short-lived recovery...Read More
The drone sound from the markets has not changed - no progress on United States-China trade talks, continued economic headwinds and various simmering geopolitical concerns.The fact there is more central bank and government talk about monetary easing and the need for stimulus highlights the far from bullish situation the global economy is in and that is reflected in market sentimentAsian equity mar...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures advanced 22 points in pre-opening trade.The Canadian Dollar added 0.14 to U.S. 75.35 cents after Canada's July Consumer Price Index was released at 8:30 AM EDT. Consensus was an increase of 0.2% versus a drop of 0.2% in June. Actual was an increase of 0.5%. On a year-over-year basis, CPI increased at a 2.0% rate versus consen...Read More
Nickel's three-month price on the London Metal Exchange was lower at the close of trading on Monday August 19, dipping below the $16,000-per-tonne support level amid a broadly low turnover across the complex, while a steady uptick in lead lead gains over the afternoon. Closing at $15,920 per tonne, nickel's futures price failed to close above its nearby support level after breaching the mark last...Read More
Imperial Metals has completed the sale of a 70% stake in its wholly-owned Red Chris copper and gold mine in British Columbia, Canada to Newcrest Mining, creating a joint venture with Newcrest as the operator.The deal, initially announced in March, aims to use Melbourne, Australia-based Newcrest's block-caving expertise to mine the deep resource beneath the current open pits and exploit high grades...Read More
Xinjiang Xinfa Aluminium, a subsidiary of Xinfa Group, was heard to have closed 500,000 tonnes of aluminium production operational lines at its plant in Xinjiang province, China due to an incident at its electrical transformer on August 18, sources told Fastmarkets on Monday August 19.The total closure period is said to last at least three months while other sources have heard that the production...Read More
Europe's high carbon ferro-chrome market dropped by over 4% to its lowest level in more than ten years amid weak demand, while the UG2 chrome ore index fell on aggressive bidding. European alloy price at lowest since May 2009 Chrome ore prices weaken in China Domestic and imported alloy prices hold in China Alloy prices hold in East Asia US price holds amid inactivity The E...Read More
Fastmarkets published its cif Tianjin and fob Port Elizabeth manganese ore indices later than scheduled on Friday August 16 because of a technical issue. The following prices were published in Fastmarkets' price book later than scheduled: Manganese ore 37% Mn, fob Port Elizabeth, $/dmtu Manganese ore 44% Mn, cif Tianjin, $/dmtuManganese ore index 37% Mn, cif Tianjin, $/dmtuThe Fastmarkets price bo...Read More
Xinjiang Xinfa Aluminium, a subsidiary of Xinfa Group, was heard to have closed 500,000 tonnes of aluminium production operational lines at its plant in Xinjiang province, China due to an incident at its electrical transformer on August 18, sources told Fastmarkets on Monday August 19.The total closure period is said to last at least three months while other sources have heard that the production...Read More
The price of antimony softened in both the European and Chinese markets in the week ended Friday August 16, while the markets reacted to the news that the last of the antimony materials held by the defunct Fanya Metal Exchange will be auctioned later this month.EuropeIn Europe, Fastmarkets assessed the price of antimony, MMTA standard grade II, in-whs Rotterdam, at $5,750-6,000 per tonne on Friday...Read More