Hot-rolled coil prices in China's domestic market edged higher on Friday June 18, while export prices fell as overseas buyers became more cautious due to the potential imposition of export taxes.DomesticEastern China (Shanghai): 5,500-5,530 yuan ($853-858) per tonne, up by 20-30 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,450-5,480 yuan per tonne, down by 90-100 yuan per tonne.S...Read More
Prices for flat-rolled steel products imported into South America increased in the week ended Friday June 18 amid reports of higher freight rates and more expensive deals.Demand for August-shipment material was steady, and close to levels seen in previous months, according to market participants. But clients were still uneasy due to the possibility of tax changes in China.Most sources were expecti...Read More
The global lithium hydroxide complex extended its firm tone over the week ended Thursday June 17 against a backdrop of persistent supply constraints and optimism for growing demand.Battery-grade lithium hydroxide prices in both the domestic Chinese and seaborne Asian markets rallied because consumers are still finding it difficult to secure adequate feedstock. Battery-grade lithium carbonate suppl...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesJune 2, 2021: 120 tonnes (10 tonnes each month from January to December 2022, all at $21.45 per lb)June 17, 2021: 240 tonnes (10 tonnes each month from January to December 2022, all at $22.95 per lb; 10...Read More
The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More
European passenger car registrations in May 2021 increased by 53.4% year-on-year, yet remained significantly below the level seen two years ago in May 2019, the European Automobile Manufacturers Association (ACEA) said on Thursday June 17."In May 2021, passenger car registrations in the EU rose [to] 891,665 units. Nevertheless, last month's result is still far below the 1.2 million cars that were...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
Brazilian slab export prices remained stable as buyers and sellers held their ground in negotiations for August-shipment batches amid high flat steel prices and raw material costs.Fastmarkets assessed the price for steel slab export, fob main port Brazil unchanged for the second consecutive week at $980-1,000 per tonne on Friday June 18.Sellers were holding offers at $1,000 per tonne fob to t...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
China has started cautioning state-owned enterprises (SOEs) regarding overdependence on imported commodities and overexposure in commodity-based financial derivatives, market sources told Fastmarkets this week.In the past few days, there had been rampant market chatter the country's State-owned Assets Supervision & Administration Commission (Sasac) asking SOEs to report their positions in commodit...Read More
Import prices in Vietnam rose during the week to Friday June 18 despite weak demand from end users, sources told Fastmarkets. Higher offers forJapanese bulk cargoes after the recent Kanto Tetsugen auction supported higherimport prices, sources said. A transaction for a bulk Japanese H2 was concludedat $500 per tonne cfr Vietnam in the week to June 18, against offersat $500-510 per t...Read More
Turkish steel mills ended the working week in silence on Friday June 18, having not booked any deep-sea scrap cargoes since Tuesday.Just two cargoes were heard booked during this week, leading to a decline in the indices. The two United States cargoes were heard on Tuesday. A mill in the Marmara region bought the two US cargoes...Read More
The market for pig iron exports from Brazil was quiet during the week to Friday June 18 on long lead times, sources said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, stable week on week.Suppliers from the south of Brazil were inactive in the market, but their price idea was indicated at $620-625 per...Read More
The price range for inter-merchant light iron scrap in the United Kingdom hit an 11-year high on June 18 with suppliers increasing their offer prices in the domestic market due to relatively tight supplies and firm demand from major scrap processors, sources told Fastmarkets.Light iron scrap prices were up by ?5-10 ($ 6.98-13.95) per tonne in the week to June 18 as processors looked to secure fee...Read More
Prices for shredded steel scrap imported into India and Pakistan have risen on active purchasing that tailed off toward the end of the week, sources told Fastmarkets on Friday June 18.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $533.93 per tonne on June 18, up from $516.47 per tonne on June 11.Offers heard this week were in the range of $520-540 per tonne cfr, whi...Read More
The United States' pig iron import prices softened during the week to Friday June 18, with buyers having predominantly restocked while material for near-term shipment remained available in the market. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $650-665 per tonne on Friday, down by 2.16% from $672 per tonne a week earlier."We have bought enough and do not nee...Read More
The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More
Prices for steel billet imported to China and Southeast Asia were largely unchanged during the week to Friday June 18, with bids falling but deals heard propping up prices across the week.Chinese buyers dropped their bid prices to $660-670 per tonne cfr China towards the end of this week, from $690 per tonne cfr on Monday, amid a downtrend in ferrous futures markets.Offers for Indonesia-origin 3sp...Read More
The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More
Hot-dipped galvanized coil prices were stable in Turkey during the week to Friday June 18 due to uncertainty over export taxes from China, sources said.HDG export prices from China also narrowed during the week on low demand after the European Union began its anti-dumping investigation into Turkish HDG, sources said.Domestic pricesFastmarkets' weekly price assessment for steel HDG...Read More