Domestic rebar prices in Poland rose during the past week, supported by an anticipated increase in ferrous scrap costs, sources told Fastmarkets on Friday August 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 2,100-2,120 zloty ($540-545) per tonne on August 2 compared with 2,070-2,120 zloty per tonne a...Read More
The domestic price of Brazilian rebar has shown another drop for August deliveries because the scrap price downtrend has intensified, smaller competitors were aggressive about granting discounts, and overall long-rolled steel consumption in the country went down.Fastmarkets assessed the price for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, at 2,300-2,400 Reais ($601-627) pe...Read More
Soaring iron ore prices have pushed Chinese hot metal costs up above those for ferrous scrap over recent months, stimulating greater use of the secondary raw material, according to calculations by Fastmarkets' research team. Fastmarkets' Steel Cost Service updates for the first and second quarters of 2019 detail average global integrated (BOF-route) plant's crude steel costs rose to an average of...Read More
Turkish hot-rolled coil and cold-rolled coil prices were mostly stable over the week ended on Friday August 2 due to the summer slowdown and a reduction in end-user consumption, sources told Fastmarkets.HRC exportsTurkey's export price for HRC was stable with only one deal heard, sources said.Fastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was at $500-505 per tonn...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil decreased over the week ended Friday August 2, with demand reported to be weak in both the local and export markets.Coated coil producers started to give discounts because of the slow market activity.Domestic pricesDemand in the country's local market was soft over the pricing week due to the summer holiday season.One produc...Read More
China's rebar futures fell on Friday August 2 after United States President Donald Trump threatened to impose a 10% import duty on $300 billion worth of Chinese goods from September 1, which pushed down spot prices for the long steel product. Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($554-558) per tonne, down 60-70 yuan per tonneNorthern China (Beijing): 3,750-3,780 yuan per tonne, down...Read More
China's hot-rolled coil sellers lowered their prices on Friday August 2 following a decline in the futures market, with sentiment deteriorating after United States President Donald Trump threatened to impose a new tariff on Chinese goods.DomesticEastern China (Shanghai): 3,760-3,770 yuan ($545-546) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,780 yuan per tonne, down 30 yuan per to...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
UK and European alloy steel scrap prices have increased over the past week due to higher nickel costs, sources told Fastmarkets on Friday August 2.The price of nickel, 3 months, London Metal Exchange Daily Official, was $14,520-14,525 per tonne on August 2, up from $14,100-14,125 per tonne on July 26.As a result,...Read More
The inter-merchant spot market for UK light iron was stable over the week to Friday August 2, extending the steady trend into a sixth week, in line with persistently limited volumes of material being made available to major processors, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?80-100 ($97-12...Read More
The price of shredded ferrous scrap imported into India has fallen for a third week to its lowest so far this year on poor market conditions, sources told Fastmarkets on Friday August 2.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $308.75 per tonne on August 2, down from $311.50 per tonne on July 26.Offer prices for shredded scrap moved...Read More
Turkish steel producers have ended the week without making any deep-sea scrap purchases because of the weak demand for finished long steel products and billet, sources said on Friday August 2.Offers from the Baltic Sea region were heard around $295 per tonne cfr for HMS 1&2 (80:20) but customers in Turkey were not interested in prices at that level yet."Turkish mills do not want to buy scrap befor...Read More
Gerald Group subsidiary SL Mining has halted iron ore exports from Sierra Leone's Marampa mine to comply with a request from the new mining ministry, which is reviewing the terms of the current license agreement, Gerald told Fastmarkets on Friday August 2. Production at Marampa stopped on July 3 after a temporary suspension order issued by the new Minister of Mines and Mineral Resources, Foday Rad...Read More
More disruptions to trade relations between the United States and China have added to the gloom in the commodities markets on Friday August 2, including iron ore.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $107.73 per tonne, down by $7.95 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $106.23 per tonne, down by $7.95 per tonne.Fastmarkets' index f...Read More
Sentiment in financial markets has weakened further after US president Donald Trump announced the United States will impose a 10% tariff on $300 billion of Chinese goods from September 1.This sent equities scurrying for cover with the Nikkei, Hang Seng and CSI 300 off by an average of 2.2% on the morning of Friday August 2, while gold prices approached recent highs again overnight as investors sou...Read More
Barring those for nickel and tin, base metals prices on the Shanghai Futures Exchange were all down during morning trading on Friday August 2 after a surprise tariff announcement from the United States escalated trade tensions with China.US president Donald Trump announced via social media platform Twitter on Thursday that the US will impose a 10% tariff on another $300 billion of Chinese goods fr...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices - Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lb - Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-whs Rotterdam, $...Read More
The following Fastmarkets minor metals prices changed on Friday August 2:Minor metalsBismuth 99.99% Bi min, in-whs China, yuan/tonne: 42,000-43,000 yuan per tonne from 41,500-42,500 yuanCobalt alloy grade, in-whs Rotterdam, $/lb: $12.40-13.00 per lb from $12.35-12.90Cobalt standard grade, in-whs Rotterdam, $/lb: $12.20-13.00 per lb from...Read More
An overview of the China minor metals markets and the reasons for any price moves.Read More