Prices in Asia for hot-rolled coil (HRC) have fallen in the past week on hectic selling by traders, market sources told Fastmarkets on Monday July 15.Fastmarkets' price assessment for steel HRC import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-515 per tonne cfr on July 15, down by $5-7 per tonne from $517-520...Read More
Turkey's biggest steel producer, Erdemir Group, has denied making an offer to acquire struggling UK long steelmaker British Steel, it said in a stock exchange disclosure late on Sunday July 14."In some news published in [the] international media and reflected in the [Turkish] national media, it was claimed that our company made an offer for the acquisition of British Steel," the disclosure said. "...Read More
Import prices for rebar in Singapore have narrowed upward over the past week on continued demand from end-users.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $494-495 per tonne cfr on Monday July 15, narrowing upward by $4 per tonne cfr from a week earlier.There wa...Read More
The price of steel slab imported in Southeast Asia and East Asia fell over the week to Monday July 15 because of the weakening prices in the downstream hot-rolled coil market weighing on market sentiment, market sources said.Fastmarkets' assessment of the steel HRC import, cfr Vietnam, price was $510-515 per tonne for the week ending on Monday July 15, down by $5-7 per tonne from...Read More
China's hot-rolled coil prices bounced back on Monday July 15 after the futures market strengthened after the release of economic data for the first half, while expectations of a drop in supply provided additional support.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($559-562) per tonne, widening upward by 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 20 yuan per...Read More
Australian miner Mount Gibson Iron shipped a total of 2.93 million wet metric tonnes of high-grade iron ore in the year to June 30, 2019, which was within the company's sales guidance range of 2.7-3.3 million wmt.The iron ore producer had shipped 607,000 wmt of iron ore in the April-June quarter, of which 370,000 wmt consisted of its new high-grade fines mined at its Koolan Island mine in the nort...Read More
Turkish steel mills began the week in silence due to a public holiday in the country, sources said on Monday July 15.The Democracy and National Unity Day public holiday in Turkey meant trading activity was paused at the start of the week with many traders not at work.The last verified scrap...Read More
Seaborne iron ore prices resumed their upward trajectory on Monday July 15, amid fears of supply tightness accompanied by a positive outlook on China's overall economy.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.41 per tonne, up $2.12 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.33 per tonne, up $2.12 per tonne. Fastmarkets' ind...Read More
Seaborne coking coal prices softened further on Monday July 15 despite buying activity generated by keen interest from China.A cargo of premium mid-vol hard coking coal was traded at around $186 per tonne cfr China, sources said during the day.This is $6 per tonne higher than the fob Australia price for a cargo of the same brand that changed hands last week. It is also about $4 per tonne lower tha...Read More
Seaborne iron ore concentrate and pellet prices fell in the week to Friday July 12 amid generally weaker market conditions after earlier gains.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao stood at $121.85 per tonne on July 12, down by $3.27 per tonne week on week.The daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $127.94 per tonne ove...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) has signed a second deal to increase its supply of iron ore to international trading company Glencore.CSN's mining division has agreed to supply an additional 10 million tonnes of the steelmaking raw material to Glencore over the next five years. It will receive a pre-payment of up...Read More
Movements in the ferrous scrap prices around the world were mixed in the week ended Friday July 12, with prices in Asia supported by steady demand and higher offers while prices in the United States and Turkey fell on thin spot trading activity. Turkey sees limited import trades US East Coast exporters see bearish demand Asian import prices up but downtrends possible Monsoon in India reduces spot...Read More
Rebar futures in China picked up on Monday July 15 following the release of the latest economic growth data, though spot prices for the long steel product softened amid selling pressure.Domestic Eastern China (Shanghai): 3,970-3,990 yuan ($577-580) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,870-3,900 yuan per tonne, down 10 yuan per tonneChina's gross domestic product grew by 6.3...Read More
Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Monday July 15, supported by stronger than expected industrial data out of China, while a slight downturn in the US dollar index aided buying activity. Over the weekend, China's National Bureau of Statistics (NBS) calculated industrial production had increased 6.3% year on year in June-July, exceedi...Read More
China's economic growth slowed to 6.2% in the second quarter of this year - in line with expectations and well within Beijing's target of 6-6.5% growth for 2019 - but market participants continued to focus on the fact that this was the country's lowest gross domestic product (GDP) growth in nearly three decades.The record low GDP growth comes as the world's second-largest economy continues to feel...Read More
Base metals prices on the Shanghai Futures Exchange were split into two camps during morning trading on Monday July 15 with aluminium, zinc and nickel ticking upward, while the rest weakened.Nickel was the outperformer of the SHFE complex, exhibiting similar strength to that of the London Metal Exchange's three-month nickel price at the end of last week.The most-traded August nickel contract on th...Read More
Key data from the pricing sessions in Asia, Europe and United States for the week ended Friday July 12. United States Key drivers Discounting reported, due to the annual dip in end demand coinciding with the need for suppliers to clear their books for mid-year accounting. Automakers' business continues to fall, lowering their demand for secondary aluminium alloys made with silicon.&nb...Read More
Fastmarkets reporters present six main takeaways from the Lithium-ion Battery & Material Supply Chain conference hosted by Shanghai Xinluo Network Technology in Qiandaohu, China, on July 11-12. 180,000 yuan per tonne for cobalt metal a 'good price to restock' Chinese cobalt metal buys should top up inventories when prices in China drop to 180,000 yuan per tonne ($10.52 per lb, less China-VAT), tra...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday July 12.ChinaKey drivers The price action of antimony MMTA standard-grade II, ddp China, stalled last week after many domestic suppliers refused to lower offer prices due to limited available stocks at plants. Some domestic antimony suppliers in Hunan province in central China were heard to have suspended their product...Read More
Prices for alloy-grade cobalt fell closer in line with those for standard-grade metal last week after sellers revised their expectations for premiums for certain brands and shapes to shift units. Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam, fell to $12.65-13.10 per lb, on Friday July 12, down by 3.6% from $13.05-13.65 per lb a week earlier. Over the same period, Fastm...Read More