The price of cold-rolled stainless steel in Europe increased further this past week due to the severe material shortage that has been ongoing, sources told Fastmarkets on Friday July 9.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered north Europe was ?,?3,600-3,650 ($4,257-4,316) per tonne on Friday, up by ?,?150 from ?,?...Read More
Prices in the CIS export billet market improved some more by the end of the week. Offers were mainly coming from Ukrainian mills, while Russian producers preferred to stay away from the market assessing the situation with export duty introduction in August.The duties will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate of $115 per tonne for stee...Read More
Sandfire Resources' Motheo copper mine in Botswana will come online in 2023, the mid-tier copper and gold miner said this week, after acquiring a mining license for the project. The construction of the Motheo copper mine will accelerate in the coming months and should deliver 30,000 tonnes of copper and 1.2 million ounces of silver for the first 12-and-a-half years of mine life, the Canada-listed...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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.Fastmarkets assessed Cobalt...Read More
Expectations of cuts to steel production across China in the second half of 2021 have fueled the country's eager return to the steel billet import market this week, sources told Fastmarkets on Friday July 9.Numerous Chinese steelmakers were now expected to reduce output in the second half of the year, with China's authorities targeting 2021 steel production below last year's total of 1.07 billion...Read More
Activity in the market for pig iron exports from Brazil was at a standstill in the week to Friday July 9, but local demand for such material was strong, sources have told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620-625 per tonne on Friday, stable week on week.Suppliers in the south of Brazil were heard to be inactive as regards...Read More
Key data from Fastmarkets' Friday July 9 pricing sessions in Europe, China, India and the United States.Europe The silico-manganese market continued to strengthen in response to tight availability of material and robust demand from consumers. Prices in the market have been on an uptrend since the start of the year with steel production recovering from the effects of the Covid-19 pandemic. While co...Read More
London Metal Exchange base metal futures barring tin traded higher on Friday July 9 after the market responded to news that China's central bank will boost liquidity to small and medium sized businesses.The People's Bank of China said it would reduce the Reserve Requirement Ratio (RRR), the amount of cash banks have to hold in reserve, by 0.5%, equivalent to the release of a trillion yuan ($154 bi...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
Prices for shredded steel scrap imports into Pakistan increased in the week to Friday July 9, supported by higher trading activity compared with India, sources have told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $547.34 per tonne on July 9, up by $7.83 per tonne from $539.51 per tonne on July 2.Deals for the material have been...Read More
A correction has been issued for this article. The update can be found here.Read More
Hot-rolled coil prices in the United States fell for a second day after breaching $90 per hundredweight ($1,800 per short ton) for the first time, with scarce spot availability projected to extend the rally, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.06 per hundredweight ($1,781.20 per short ton) on Friday July 9, down 0.46% from $89....Read More
Iron ore prices across the board declined further on Friday July 9, with market chatter about crude steel production cuts in China depressing sentiment amid thin trading.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.77 per tonne, down by $3.27 per tonne62% Fe low-alumina fines, cfr Qingdao: $218.00 per tonne, down by $4.00 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.0...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies...Read More
Spot copper concentrate treatment/refining charges (TC/RC) continued to rise for the fourth week in a row on the improving availability of the copper raw material.Fastmarkets copper concentrate TC/RC index was calculated at $42.4 per tonne/4.24 cents per lb for the week to Friday July 9, its first foray above the $40/4 cents mark since late...Read More
An overview of the aerospace materials markets and the latest price moves.Carrie Shi, Ruby Liu...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices remained stable in Turkey during the week to Friday July 9 due to upcoming holidays, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-23 will be the Eid al-Adha holidays so buyers preferred to postpone bookings.Domestic pricesFastmarkets' weekly price assessment for steel HDG coil domestic, exw Turkey was unchanged...Read More
Domestic prices for hot-rolled coil in Europe were relatively stable on Friday July 9 due to slow buying activity, sources told Fastmarkets.Market sources believed that the price fluctuations during the week have not been indicative of a trend change, but mainly reflected the uncertainty among buyers in the market with a limited number of offers.Buyers have been holding back from making new deals...Read More
The introduction of a Russian export duty on steel products carries serious risks for the country's steel industry, Russia's steel association Russkaya Stal warned last week.The duties, which cover 340 metal products, will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate for each product.The measures will inevitably cut the profitability of steel...Read More
Seaborne coking coal prices were steady in the cfr market on Friday July 9 while market participants awaited further information about second-half production cut plans at Chinese steel mills. The fob coking coal market surged amid necessary procurement demand from Asia, market sources said.Prices for seaborne pulverized coal injection (PCI) decreased in the cfr market in the week to July 9 because...Read More