The following Fastmarkets non-ferrous European free market scrap prices changed on Friday June 14:Aluminium scrapCast: ?,?860-880 per tonne from ?,?880-900Mixed turnings 6%:...Read More
Nickel stocks on the Shanghai Futures Exchange rose to 16,936 tonnes as of Friday, up by 5,835 tonnes or 52.6% from last Friday, according to the SHFE's latest inventory report.The largest inflow of nickel this week was registered at China Storage University in Shanghai, with 5,227 tonnes of the metal entering the warehouse. Poor demand for stainless steel has weighed on demand for nickel. But the...Read More
Brazilian slab export prices decreased as local producers had to accept lower prices amid reduced demand and continued low flat steel prices in international markets.Fastmarkets' weekly price assessment for Brazil export slab fell to $430-440 per tonne fob on Friday June 14, compared with $440-450 per tonne fob a week before.Producers have been offering material to different destinations at $440.....Read More
Prices for cold-rolled coil in the United States fell again in the week to Thursday June 13 after stabilizing somewhat the week before, due largely to continued deterioration in demand and sufficient metal supply.Fastmarkets AMM's weekly assessment for domestic hot-rolled coil stood at $36 per hundredweight ($720 per short ton) on June 13, down by $1 from one week earlier.Fastmarkets assessed...Read More
European long steel mills remain under pressure from weakening ferrous scrap prices and negative market sentiment, the International Rebar Producers & Exporters Association (Irepas) said in its latest short-range outlook on Friday June 14.While "the announcement of price increases by ArcelorMittal for long products, and the imminent maintenance at European mills could help to increase lo...Read More
Hot-rolled coil (HRC) import prices in India have fallen by $20 per tonne this week, with importers booking Japan- and South Korea-origin material for shipments in August, Fastmarkets heard on Friday June 14.The Indian HRC import price was assessed by Fastmarkets at $520-535 per tonne cfr Indian ports on Friday, down by $10-20 per tonne...Read More
Flat steel makers in Asia are fighting hard to retain a share of their region's market in the face of ample supplies of hot-rolled coil (HRC) coming in from international steelmakers, market sources have told Fastmarkets.Offers and transaction prices for HRC from Turkey and Russia have been undercutting the higher offer prices for Asia-origin material.The lower offers from Turkey were a result of...Read More
Prices in Southeast Asia's steel billet market drifted lower on Friday June 14 because market participants in the Philippines were cautious about making any bookings ahead of the forthcoming rainy season, while trading activity in Indonesia had yet to resume fully after the Eid al-Fitr religious holiday.Market participants in Southeast Asia were also concerned about the bearish outlook for prices...Read More
European and UK alloy steel scrap prices have decreased this week because of soft demand and aggressive negotiations by mills, Fastmarkets heard on Friday June 14.Demand for alloy steel scrap was weak because of similarly poor demand for finished stainless steel products.Scrap traders have reported selling lower volumes than usual in the first half of June, and this situation was only likely to ge...Read More
The light iron market has been steady in the UK over the past week, tracking unchanged prices in the consumer monthly delivery market against steady demand for British steel scrap exports to Turkey and India, sources told Fastmarkets on Friday June 14.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-105 ($108-133) per tonne on June 14, flat wee...Read More
Fastmarkets has amended the specifications for its south Brazil, Baltic Sea export and Italy import pig iron price assessments, based on market observations and feedback.Following a month-long market consultation, Fastmarkets has decided to amend the payment conditions for the south Brazilian export pig iron price from payment on-delivery to partial prepayment upon readiness, while the Commonwealt...Read More
The price of shredded ferrous scrap imported into India fell further this week, reflecting continued poor demand, sources told Fastmarkets.Fastmarkets' weekly index for containerized imports of shredded scrap into India fell to $318.38 per tonne cfr Nhava Sheva on Friday June 14 from $324 per tonne cfr Nhava Sheva on June 7. This is the third consecutive week-on-week drop. There were no deals hear...Read More
The UK ferrous scrap market for deliveries to domestic consumers in June has settled at prices unchanged from the previous month, with export prices holding up high enough to support the British market, trade sources told Fastmarkets on Friday June 14.The UK market has seen enough demand for material to be imported into Turkey from Europe to resist attempts by British consumers to negotiate a dome...Read More
Turkish deep-sea scrap import prices continued to fall at the end of the week amid growing supplies, sources said on Friday June 14.Steel mills in Turkey booked a number of deep-sea cargoes of HMS 1&2 (80:20) earlier in the week at around $292-293 per tonne cfr. On Friday, however, a steel mill in the Izmir region booked a Baltic Sea cargo out of Russia, comprising HMS 1&2 (80:20) a...Read More
The queue for aluminium at London Metal Exchange-approved warehouses at Port Klang, Malaysia, operated by Istim, edged down to 109 days at the end of May, according to the latest LME data.This is slightly down from the 113-day queue at the end of April, the LME said on June 10, but it is significantly lower than the 229-day queue registered at the end of February.Queues for copper,...Read More
Eastern China's hot-rolled coil prices weakened further on Friday June 14, with rising inventory levels putting pressure on sellers.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($549-550) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,780-3,790 yuan per tonne, unchangedThe domestic market remained inactive despite sellers making price cuts.A Tianjin-based trader pointed out tha...Read More
Seaborne coking coal prices were largely stable on Friday June 14 following a series of transactions a day earlier.A transaction involving a cargo of premium mid-vol hard coking coal was heard to be under negotiation at around $201-203 per tonne cfr China. There was no word of the transaction being concluded at the time of writing."The price sounds too high for the current market but the seller is...Read More
China's domestic rebar market resumed its downtrend on Friday June 14 on declining futures, with prices expected to fall further on mills' higher steel output. Domestic Eastern China (Shanghai): 3,870-3,900 yuan ($559-563) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,780-3,830 yuan per tonne, down 10 yuan per tonneWhile rebar futures moved upward in the first half of the day, th...Read More
Nickel's three-month price on the London Metal Exchange was higher during morning trading on Friday June 14, climbing by just under 1% while the rest of the complex edged lower. The metal's futures price has improved throughout the week, but has failed to break above $12,000 per tonne. Supporting the uptrend however, LME nickel stocks continue to drift lower at 163,122 tonnes on Friday, their lowe...Read More
Key data from the June 14 pricing session in London Key drivers- Cobalt prices continue to drift lower, with sellers open to cheaper bids to achieve sales early in what is expected to be a quiet few months for buying. Demand is slow and potential buyers are happy to hold out for expected lower prices in the coming weeks. Some sources have reported receiving minimum call-offs...Read More