Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly unchanged in the week to Tuesday July 23, with production cuts imposed on steelmakers in China limiting the impact of declining demand. Prices are likely to stagnate at current levels for now in the absence of any new developments, a trader in Tianjin said.Cold-rolled coilFastmarkets' weekly price assessment for...Read More
Seaborne iron ore prices were rangebound on Tuesday July 23, while the ongoing environmental restrictions have limited iron ore demand.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.82 per tonne, down $0.51 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $117.74 per tonne, down $0.51 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina...Read More
Seaborne coking coal prices were steady to slightly lower on Tuesday July 23 amid a lack of offers in the spot market. Offers on premium category cargoes with a laycan date in August were around $173-174 per tonne fob Australia on the Global Coal platform, sources said. Buyer sources in China indicated that premium low-vol materials would still fetch a price of around $190 per tonne cfr Jingtang i...Read More
China's domestic hot-rolled coil prices were unchanged on Tuesday July 23, with the opposing factors of production curbs and relatively weak demand cancelling out each other.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, unchangedNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedSpot prices were stable across the country amid moderate trading.Buyers comprised...Read More
Bad weather is weighing on domestic rebar demand in China, but prices were unchanged on Tuesday July 23 with the strength in the futures market being sustained.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-581) per tonne, unchangedNorthern China (Beijing): 3,900-3,930 yuan per tonne, unchangedVarious parts of northern and southeastern China were inundated with heavy rain in the last co...Read More
China's stainless steel prices are set to come under pressure from rising supply, but with the Shanghai Futures Exchange set to launch its futures for this segment, the spot market could be in store for more liquidity as well as fluctuation.Rising capacity China's stainless steel mills are making more investments in infrastructure amid an outlook for steady growth of consumption in the country in...Read More
Some producers in the global manganese market successfully increased their offer prices for low-grade manganese ore in China following a fall in stocks and reports of a drop in import volumes in June. Low-grade ore price into China increases High-grade material pares previous week's gains Ore stocks in China fall SiMn in-whs China prices tick down; stable in India, US High carbon FeMn market weake...Read More
Both the Chinese domestic and export ferro-silicon prices jumped up by around 5% week on week on Wednesday July 17 on improved demand and tight supply, while US market participants view the stabilizing European price as a hint that the US price is close to reaching a bottom. An uptick in ferro-silicon demand pushed the Chinese domestic market up by 4.8% while the export price increased by 5.1%.US...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. U.S. technology stocks moved lower after the Justice Department announced plans to complete an anti-trust review on major U.S. technology companies. Companies to be reviewed include Alphabet, Apple, Amazon and Facebook.Chipotle jumped $25.48 to $765.08 after announcing higher than consen...Read More
Nickel's three-month price on the London Metal Exchange fell by 3% over the afternoon but held above the $14,000 per tonne support level at the close of trading on Monday July 22, while a predominantly negative complex was upended by tin's 1.3% climb. Nickel's three-month price closed at $14,300 per tonne, while tin futures closed slightly higher on the day at $17,900 per tonne, having reached an...Read More
Fastmarkets has changed the frequency of publication of its fob Guinea and fob Brazil bauxite price assessments to monthly from fortnightly. Following a one-month consultation, the Bauxite, fob Kamsar, Guinea and Bauxite, fob Trombetas, Brazil price assessments will now be published on the third Thursday of every month at 2-3pm London time. The next publication of these prices will be Thursday Aug...Read More
The premium for aluminium billet in Italy has fallen to its lowest in over two years due to aggressively low offers from suppliers and continued poor demand. Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp Italy (Brescia region), at $330-350 per tonne on Friday July 19, down from $340-360 per tonne the previous week. This is lowest since January 20, 2017, when it was $330-340...Read More
Fastmarkets has changed the frequency of publication of its fob Guinea and fob Brazil bauxite price assessments to monthly from fortnightly. Following a one-month consultation, the Bauxite, fob Kamsar, Guinea and Bauxite, fob Trombetas, Brazil price assessments will now be published on the third Thursday of every month at 2-3pm London time. The next publication of these prices will be Thursday Aug...Read More
Key data from the pricing sessions in Asia for the week ended Friday July 19.Key drivers- Bismuth prices rebounded after hitting a decade low at 40,500-41,500 yuan ($5,884-6,029) per tonne on July 12. - Some traders reckon that tight supply supported spot prices above 41,000 yuan per tonne...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cobalt sulfate 20.5% Co basis, exw China, yuan/tonneClick here for Fastmarket MB's price assessment for the cobalt sulfate 20.5% Co basis, adjustment to standard-grade cobalt low-end price, exw China, $/IbClick here...Read More
The Turkish domestic scrap markets remained mostly quiet last week due to the slow finished steel markets and the seasonal summer slowdown, sources said on Monday July 22.Steel mills kept their buy prices for auto bundle scrap flat, and ship scrap prices were also stable.Fastmarkets' weekly price assessment...Read More
A Turkish steel mill has completed the purchase of a new deep sea cargo, moving import prices into the country upward, sources told Fastmarkets on Monday July 22.News of this cargo came to light on Monday but it was reported to have sold on July 19.A steel mill in the Marmara region bought a Baltic Sea cargo comprising 30,000 tonnes of HMS 1&2 (80:20) at $295...Read More
Rising tension over Iran and a reduction in expectations on the size of the next US Federal Reserve rate cut were weighing on sentiment this morning, Monday July 22.Last week the market started to price-in a 50-basis-point cut in the US benchmark interest rate at the Federal Open Market Committee's (FOMC) July 30-31 meeting, but now a 25-basis-point cut now seems more likely.Tensions in the Middle...Read More
ERG has appointed Telf AG the exclusive offtaker for cobalt hydroxide produced at its Metalkol Roan Tailings & Reclamation (RTR) project in the Democratic Republic of Congo (DRC), Fastmarkets understands. Telf will market all saleable material produced at RTR, excluding any sent to Chambishi for refining into metal. Production at Chambishi restarted last month. RTR started production late last yea...Read More
China's hot-rolled coil prices regained some strength on Monday July 22 after local authorities in Tangshan, the steelmaking hub in northern China, reiterated production cuts for steelmakers under their jurisdiction.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, up 20 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10 yuan per tonneSpot prices rose...Read More