European copper maker Aurubis announced on Friday July 16 that it has declared force majeure on its Stolberg operations, being unable to deliver or accept incoming deliveries following floods in the valley where the site is located. Aurubis Stolberg manufactures semi-finished products made of copper and copper alloys, including high-precision strip and wire made for industrial applications, such a...Read More
Italian domestic steel scrap prices increased in the month to Friday July 16 on support from short supply of the material, particularly of "new scrap" grades, sources told Fastmarkets.Supplies of new scrap, including E8-grade, were short due to low automotive production caused by a shortage of computer chips used in cars, sources said. Car manufacturers are the main suppliers of E8-grade scrap mat...Read More
Prices for cold-rolled and galvanized steel sheet climbed to new records, with cold roll catapulting above the $100-per-hundredweight ($2,000-per-short-ton) milestone for the first time ever.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US jumped to $101 per cwt ($2,020 per ton) on Thursday July 15 from $98.50 per cwt ($1,970 per ton) on July 8. The assessment has now g...Read More
Hot-rolled coil in the India's domestic market continues to sell at discount of 3,000-3,500 ($40-47) rupees per tonne compared with mill pricing.Domestic HRC producers' prices, however, were stable this past week despite the price undercutting.Fastmarkets assessed steel HRC, domestic ex-warehouse India at 67,000-68,500 rupees per tonne on Friday July 16, unchanged from the previous week....Read More
An overview of the aerospace materials markets and the latest price moves.Carrie Shi, Jessica Long and Ruby...Read More
Activity in the EU hot-rolled coil market has been limited on Friday July 16 due to buyers and sellers both being in wait-and-see mode, sources told Fastmarkets.Buyers have been holding back from acquiring material due to a seasonal slowdown and uncertainty about the price trend. Domestic prices have remained high despite a slight correction lower while buyers, who have sufficient stocks for...Read More
Nickel reached $19,205 per tonne on the morning of Friday July 16 on the London Metal Exchange, with most prices also maintaining their high levels from Thursday due to increasing worries about supply from countries with rising Covid-19 cases.Nickel's three-month price reached its highest level since February 26 during early trading, recoiling back to $18,965 per tonne at 9am but still 1% higher t...Read More
Hot-rolled coil prices across China's domestic market edged lower on Friday July 16, while futures prices dropped to a one-week low following Beijing's fresh pledge to ensure stable supply and prices for commodities.DomesticEastern China (Shanghai): 5,860-5,900 yuan ($906-913) per tonne, narrowing downward by 20 yuan per tonneNorthern China (Tangshan): 5,710-5,720 yuan per tonne, up by 100-210 yua...Read More
Seaborne coking coal prices were firm in the cfr market on Friday July 16 despite quiet trading. Offers for September loaded cargoes rose but the fob coking coal market also remained stable, sources said.Prices for seaborne pulverized coal injection (PCI) inched up in the cfr market in the week to July 16 due to tight supply for high quality resources from Russia. The fob market continued to incre...Read More
Iron ore prices mostly edged downward on Friday July 16 under the influence of increasing inventory at China's ports despite reduced shipments.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.43 per tonne, down by $0.66 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.39 per tonne, down by $0.36 per tonne58% Fe fines high-grade premium, cfr Qingdao: $181.57 per tonne, down by $0.49...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses showed varying changes in the week to Friday July 16, with the biggest decrease being in copper while lead showed the highest increase in percentage terms.Copper stocks totalled 113,593 tonnes this week, down by 15,876 tonnes (12.3%) from 129,469 tonnes the week before.The largest outflow was from the 830 GuangDon...Read More
Ukraine's ArcelorMittal Kryvyi Rih has begun modernization of its blast furnace (BF) No9. The BF has a current capacity of 3.7 million tonnes per year of hot metal but the reconstruction will increase capacity by 35.7%, to 4.5 million tpy, sources told Fastmarkets.The BF modernization aims to optimize raw materials consumption.The works should be finalized by the end of 2023. Total investment in t...Read More
Turkish steel mills were quiet at the end of the week due to the public holidays being observed in the country, market sources told Fastmarkets on Friday July 16.Turkish market participants were not working on Thursday July 15 because the country was celebrating its Democracy and National Unity Day.The Islamic Eid al-Adha holiday will be observed during the coming working week, so trade is expecte...Read More
Some Chinese mills are seeking alternative scrap import suppliers because of expensive offers for Japanese heavy scrap (HS), sources said on Friday July 16.Bids were heard at $535 per tonne cfr northern China on July 16, which would be equivalent to $525 per tonne cfr eastern China, and no new offers were heard on July 16. Prior to that, the latest to come in was on July 14 at $580-590 per tonne c...Read More
The inter-merchant light iron scrap market in the United Kingdom was up ?5 ($6.92) per tonne in the week to Friday July 16 amid firm fundamentals, with some sources suggesting the market may consolidate higher in the near term while others say a correction may be likely due to the steel summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old li...Read More
Italian domestic steel scrap prices increased in the month to Friday July 16 on support from short supply of the material, particularly of "new scrap" grades, sources told Fastmarkets.Supplies of new scrap, including E8-grade, were short due to low automotive production caused by a shortage of computer chips used in cars, sources said. Car manufacturers are the main suppliers of E8-grade scrap mat...Read More
Prices for shredded steel scrap imports into Pakistan were broadly stable during the week to Friday July 16, while Indian prices fell further, sources told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $547.80 per tonne on Friday, compared with $547.34 per tonne a week ago.Pakistan market participants reported deals at $550 per tonn...Read More
Export prices for pig iron from the Commonwealth of Independent States fell over the week to Thursday July 15 because buyers had restocked earlier and were in no hurry to make new purchases.Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $600-620 per tonne on Thursday July 15, down from $610-630 per tonne a week before.Pig iron offers from Russia...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More