Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil decreased over the week ended Friday August 9, with demand reported to be weak in both the local and export markets.Domestic Turkish coated coil producers began to offer discounts amid the slow market activity.Domestic pricesDemand in the country's local market was poor over the pricing week due to the summer holiday season...Read More
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) decreased over the week ended Friday August 9 due to the regular summer slowdown and the Eid al-Adha religious holiday next week, sources told Fastmarkets.HRC exportsTurkey's export price for HRC decreased with lower offers, sources said.Fastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $490-495...Read More
Reduced volumes of Chinese-produced steel have been going into the country's export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?According to China's General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished and finished material. This was down ye...Read More
UK alloy steel scrap prices have increased over the past week due to rises in nickel costs, sources told Fastmarkets on Friday August 9.The price of nickel, 3 months, London Metal Exchange Daily Official, was $15,675-15,680 per tonne on August 9, up from $14,520-14,525 per tonne on August 2.Following a...Read More
The export market for pig iron from Brazil was muted this week because suppliers were sold out for September, sources told Fastmarkets on Friday August 9.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $325 per tonne on Friday, unchanged week on week.Offers from mills were heard at $320-325 per tonne net to producer, or about $325-330 per tonne fob including...Read More
The inter-merchant spot market for UK light iron scrap was stable over the week to Friday August 9, extending the steady trend into a seventh week, with prices supported by major steel scrap shredders competing for business amid relatively tight availability, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More
Turkish steel mills's were scarcely active in the scrap market this week before next week's Eid al-Adha religious holiday, sources said on Friday August 9.There was only one deep-sea cargo traded this week, which was sold out of the United States on Wednesday at an average price of $294 per tonne cfr for 20,000 tonnes of shredded and 20,000 tonnes of HMS 1&2 (90:10).Apart...Read More
The import markets for shredded and HMS-grade ferrous scrap imported into India have fallen to new annual lows this week because of poor demand, sources told Fastmarkets on Friday August 9.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $305.17 per tonne on August 9, down from $308.75 per tonne on August 2. The index was at a 2019 year-to-...Read More
Three-month base metals prices on the London Metal Exchange were broadly lower during morning trading on Friday August 9, with turnover predominantly low across the complex while continued buying momentum in lead this week tightened nearby spreads. Despite a 0.4% downturn this morning, the three-month nickel price held onto gains made earlier in the week, coming down from a 16-month high of $16,69...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday August 9 as the Chinese yuan stabilized, with nickel continuing to push higher amid bullish sentiment. "The markets have regained some semblance of composure after the People's Bank of China's countercyclical efforts temporarily tamed the yuan beast, but this probably won't stop traders from p...Read More
Key data from the Friday August 9 pricing session in London:Key drivers Manganese flake down with lower offers accepted in Rotterdam; the loss in value of the yuan and macroeconomic uncertainty boosted China's exports at competitive prices, with some flake producers and traders in China rapidly offsetting their cargoes before material could lose value. Material for shipment has dropped sharply dow...Read More
Cobalt prices have moved up again on Friday August 9 following Glencore's decision to shut its Mutanda copper-cobalt mine and cut output at its Katanga cobalt facility.The resulting supply concerns have pushed both suppliers and consumers to accept higher prices toward the end of the week starting August 5. Fastmarkets' benchmark price for cobalt, standard grade, in whs Rotterdam rose by 4.4% to $...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The publication of Fastmarkets' alloy grade and standard grade cobalt price assessments for August 9 were delayed because of editorial issues stemming from the high volume of pricing inputs.The Fastmarkets price book and database have both since been updated.Fastmarkets assessed alloy grade and standard grade cobalt prices at $13.60-15.15 per lb and $13.05-14.30 per lb, in-warehouse, on Friday Aug...Read More
The following Fastmarkets minor metals prices changed on Friday August 9:Minor metalsChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $7,150-7,450 per tonne from $7,200-7,500Cobalt alloy grade, in-whs Rotterdam, $/lb: $13.60-15.15 per lb from $12.50-14.00Cobalt standard grade, in-whs Rotterdam, $/lb: $13.05-14.30 per lb from $12.25-13.95Cobalt 99.8%...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday August 9. China UG2 chrome ore prices ticked down, breaking a four-week rally, after depreciation of the yuan against the dollar raised the cost of importing material. The charge chrome market was stable for the sixth consecutive week amid limited activity. ...Read More
Domestic European transaction prices for stainless-steel flat products were expected to increase in late August, when market activity revives after the seasonal slowdown, sources told Fastmarkets on Friday August 9.The price increase was expected to be driven by rising nickel prices. The price of nickel, 3 months, London Metal Exchange Daily Official, was $15,675-15,680 per tonne on August 9, up f...Read More
The three-month nickel price on the London Metal Exchange continued its uptrend at the close of trading on Thursday August 8, cooling from an intraday high of $16,690 per tonne to close just short of $16,000 per tonne, while lead's continued rise saw its outright price close at more than $2,000 per tonne.Nickel futures closed at $15,880 per tonne on Thursday afternoon, holding near their highest l...Read More
Scrap metal cargoes from Japan have been refused entry into South Korea over the past two weeks after the country's customs started asking for certificates to prove radiation levels, sources told Fastmarkets. South Korea has also stepped up radiation checks on Japanese ferrous scrap imports, with inspectors reportedly boarding "every single vessel transporting Japanese ferrous scrap... to carry ou...Read More