Prices for hot-rolled coil (HRC) in Turkey were mostly unchanged over the past week while the summer slowdown and a reduction in end-user consumption continued, sources told Fastmarkets on Friday July 5.Domestic pricesFastmarkets' weekly price assessment for steel HRC domestic, exw Turkey, widened upward to $500-520 per tonne ex-works on Friday, compared with $500-510 per tonne ex-works a week ear...Read More
Chinese suppliers have already exhausted their annual quota for imports into Europe of hot-dipped galvanized coil (HDG) grades used by the automotive industry, just a few days after the start of the new quota period.The HDG grades traditionally used by European car-makers fall into product category 4B of the region's safeguard measures.The full annual quota allocated to material from China for the...Read More
Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told Fastmarkets this week. Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told...Read More
China's hot-rolled coil prices weakened on Friday July 5 with developments in the iron ore market hogging the spotlight for a second day, though participants expect some stability to return to the flat steel segment in the longer term, or even a rebound as a result of falling supply.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, widening downward 10 yuan per tonneNorthern...Read More
Russian diamond company Alrosa earned revenue of $10.3-million in its latest auction of special size rough diamonds weighing more than 10.8 ct, in Hong Kong.It sold 112 gem-quality rough diamonds with a total weight of 1 910 ct.AdvertisementBuyers from Hong Kong, India, Israel, Belgium, the United Arab Emirates and Russia participated in the auction."Despite the challenging situation in the d...Read More
GOMA, Democratic Republic of Congo – Illegal miners at a copper and cobalt mine run by Glencore in southeastern Congo defied a deadline on Tuesday to vacate the site, a union official said, raising fears of a potentially violent standoff.A landslide last Thursday at the Kamoto Copper Company (KCC) concession, majority-owned by a subsidiary of Glencore, killed 43 people and led Democratic Rep...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumIn the two years since consolidating its Alaska holdings, the company has established a high-grade copper-gold resource at Zackly, attracted multinational miner Lundin Mining Corporation as a potential strategic partner for the surrounding Stellar project and has identified two high-priority targets, Saturn and Mars, for...Read More
The price of shredded ferrous scrap imported into India rose for the first time in several weeks ahead of the country's national budget but sentiment remained negative, sources told Fastmarkets.Fastmarkets' weekly index for containerized imports of shredded scrap into India moved up to $316.27 per tonne cfr Nhava Sheva on Friday July 5 from $308.88 per tonne cfr Nhava Sheva a week earlier, which w...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe plaudit comes after assaying was completed on a hole that's now reported as containing 750m grading 0.6% copper and 0.2 grams per tonne gold from 204m depth.Read More
Turkish mills continued to book deep-sea scrap cargoes for August shipments at the end of the week, with prices remaining firm, sources said on Friday July 5.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $298.50 per tonne and bonus at $308.50 per tonne cfr. The cargo breakdown was not clear at the time of publication.Cargo sizes from that region are gene...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumAs reported this week, a blockade of the mine access roads was set up by locals, but the miner has since confirmed "local government units" prevented a large supply truck from accessing the mine siteRead More
Seaborne iron ore prices fell on Friday July 5, while futures prices on the Dalian Commodity Exchange plunged for the second consecutive session.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $114.81 per tonne, down by $7.22 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines: $114.06 per tonne cfr Qingdao, down by $7.22 per tonne.Fastmarkets' index for iron ore 62% Fe...Read More
Seaborne coking coal prices experienced mild movements on Friday July 5, with premium Australian products continuing to find interest among traders.A cargo of premium mid-vol materials, scheduled for loading in August, was traded at $191 per tonne cfr China, sources said during the day.A day earlier, a shipment of premium low-vol product changed hands around $6-7 per tonne higher. A trader source...Read More
Spot prices for Japanese H2 scrap in Vietnam softened in the latter half of this week after Tokyo Steel, a major buyer of the steelmaking raw material in Japan, slashed the amount it would pay for it.But prices for heavy melting scrap in Taiwan started to strengthen at the start of the week on a rebounding scrap market in Turkey, and held steady thereafter due to thin market liquidity.The mixed si...Read More
China's rebar prices were flat on Friday July 5 with market participants taking a wait-and-see approach in spite of lower futures. Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($578-582) per tonne, unchangedNorthern China (Beijing): 3,920-3,950 yuan per tonne, unchangedRebar futures fell during the day, but the decrease was attributed not to developments in the long steel market but to the...Read More
The following Fastmarkets minor metals prices changed on Friday July 5:Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $6,000-6,250 per tonne from $6,100-6,250Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 40,500-42,000 yuan per tonne from 41,500-42,500 yuanCadmium 99.99% Bi min, cif global ports, cents/lb: 114-124 from 115-124Chromium alumino-thermic 99% min, in-whs...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade.Index futures were virtually unchanged following release of the June Employment Report released at 8:30 AM EDT. Consensus for June Non-farm Payrolls was 160,000 versus downwardly revised 72,000 in May. Actual was 224,000. Consensus for the June Unemployment Rate was unchanged from May at...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Stainless steel prices in Europe were likely to remain under pressure due to a longer-than-usual summer slowdown and the renewal of the region's safeguarding quota allocations, while in the United States the determining factor was likely to be the level of alloy surcharges.Meanwhile, the resumption of trade talks between the US and China was likely to boost market activity in Asia.EuropeParticipan...Read More
Delays when flying are nothing new. An hour or so isn't too bad. But some delays can be absolutely horrible ...For instance, this year a United Airlines flight traveling from Newark to Hong Kong made an emergency landing at Goose Bay Airport, Canada. Passengers sat onboard for more than 14 hours with a dwindling supply of food while temperatures outside plummeted to -20F.Fortunately, there are som...Read More