Prices in the Commonwealth of Independent States (CIS) export steel billet market continued to climb on support from demand in Latin America while momentum in China slowed down, sources told Fastmarkets."Everyone in the CIS is now offering [billet] at a minimum of $600 per tonne fob Black Sea," one trader said.Some market participants reported offers from the CIS at up to $605 per tonne fob Black...Read More
Domestic prices for hot-rolled coil in Northern Europe continued to rise on Tuesday April 13 due to a material shortage, market sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?905.00 ($1,077.07) per tonne on Tuesday April 13, up by ?,?3.33 per tonne from ?,?901.67 per tonne on April 12.The index was up by ?,?20.99 per tonne...Read More
Flat steel import prices to the United Arab Emirates and Saudi Arabia increased sharply in the week to Tuesday April 13 despite weak demand, sources told Fastmarkets.The weakness in demand was attributed to the Islamic holy month of Ramadan that started on the evening of April 12, traditionally a slow period for both countries amid reduced working hours.But uncertainty on rebates fo...Read More
Flat-rolled steel product export prices from the Commonwealth of Independent States (CIS) reached a new high during the week to Monday April 12 on suppliers' bullish mood after they increased offers again, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea, CIS was $895-915 per tonne on April 12, up from $885-895 per tonne a week before."Local...Read More
Demand for long steel products was weak in the United Arab Emirates during the week to Tuesday April 13, with prices close to those heard last week, sources told Fastmarkets.The Islamic holy month of Ramadan started on April 12, and demand was unlikely to improve over the period because of the traditionally reduced working hours.In addition, there were hardly any new projects in the country, and s...Read More
A summary of operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), for the January-March quarter of 2021. The company also has assets in Europe and the United States.In brief Steel product sales to export markets fell to 1.2 million tonnes, down by 21% quarter on quarter, with a decline in pig iron sales but a rise in intragroup slab deliveries. Sales in home markets incre...Read More
China's domestic rebar prices stopped their downward trend on Tuesday April 13 following a recovery in the futures market, Fastmarkets heard.DomesticEastern China (Shanghai): 4,980-5,000 yuan ($760-764) per tonne, up by 10-20 yuan per tonneRebar futures rebounded from two days' of decreasing on the positive news from the futures market.Spot rebar prices followed suit but rose by just 10-20...Read More
China's hot-rolled coil prices rallied on Tuesday April 13 following gains in the futures market, but export offers from mills were mixed due to the lingering uncertainty surrounding a reduction in the export rebate.DomesticEastern China (Shanghai): 5,410-5,500 yuan ($826-840) per tonne, up 60-110 yuan per tonneA Shanghai-based trader said spot sellers there were offered 5,410-5,430 yuan per tonne...Read More
Base metals prices on the London Metal Exchange were down across the board this morning, Tuesday April 13, as were most of the metals prices on the Shanghai Futures Exchange, while broader markets were quiet.* China’s trade data showed imports and exports grew, highlighting broad-based economic recovery* Markets waiting for the release of United States consumer prices today and to see how tha...Read More
Stronger global demand for higher-grade steel scrap was justification for higher premiums for quality materials, market participants said during Fastmarkets' virtual conference on Scrap, DRI and Mini-Mills on Tuesday April 13.Asian countries such as Indonesia, Malaysia, Bangladesh, India and Pakistan, in addition to China, have increasing needs for higher-quality scrap, leveling the grade demand a...Read More
Nvidia (NVDA), a NASDAQ 100 stock moved above $614.69 to an all-time high extending an intermediate uptrend.Oil and Gas Exploration SPDRs (XOP) moved below $76.09 setting an intermediate downtrend.CooncoPhillip (COP), an S&P 100 stock moved below $50.53 setting an intermediate downtrend.Oil Services ETF (OIH) moved below $179.54 setting an intermediate downtrend.Schlumberger (SLB), an S&P...Read More
Turkish steel producers continued to avoid deep-sea ferrous scrap bookings due to weak finished steel sales, market sources said on Tuesday April 13.A steel mill in the Iskenderun region booked a Canadian cargo at the end of the last week comprising 35,000 tonnes of a 95:5 mix of No1 and No2 heavy melting scrap and 15,000 tonnes of shredded at an average price of $436 per tonne cfr, caus...Read More
Stephen Montague tells Fastmarkets about his passion on the importance of people in his company's success and the attitude and focus needed to have a positive impact in a decarbonizing steel industry.'We want people who have the mindset to really love and serve others' - President & CEOMidrex Technologies, owned by Kobe Steel of Japan, sets great store in the development of the major direct-r...Read More
The premium hard coking coal price continued higher in the cfr market on April Tuesday 13, reflecting a supply shortage both in domestic and import premium cargoes.The fob price was pressured lower by relatively sufficient supply and limited buying interest, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.59 per tonne, down $1.27 per tonnePremium hard co...Read More
Iron ore prices mostly decreased on Tuesday April 13 while iron ore lump gained on demand for direct-charge materials under emissions restrictions, sources saidFastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.25 per tonne, down $1.32 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.13 per tonne, down $0.72 per tonne58% Fe fines high-grade premium, cfr Qingdao: $155.23 per tonne, do...Read More
Sentiment in the China import scrap market has turned bullish after downstream steel prices rebounded on Tuesday April 13.Chinese steel mills have continued to bid at high prices for HRS101 imports, including at $487-490 per tonne cfr east China and $500 per tonne cfr northeast China. Offers were at $500 per tonne cfr east China and $510-515 per tonne cfr northeast China. "Offers have been high...Read More
The stock market was down today, but it's still trading at record highs. The mainstream financial media will tell you it's because the market is anticipating a robust recovery as the economy continues to reopen and vaccination numbers grow.But don’t buy into the happy talk that all is well with the U.S. economy.The unemployment rate has indeed dropped. But initial unemployment claims are on...Read More
The amount of metal held off-warrant outside the London Metal Exchange network rose by 8.6% and exceeded 2 million tonnes in February 2021 for the first time since the LME started reporting this data, its latest readings showed.The Exchange's latest off-warrant stock data, published on Monday April 12, was for volumes at the end of February 2021. This showed an increase of 166,146 tonnes of metal...Read More
Base metals prices on the London Metal Exchange were largely trading sideways during the morning session on Tuesday April 13, after decreases across the board on Monday due to warnings out of China about rising commodity prices.The three-month aluminium price bucked the trend however, rising by 0.8% to $2,280.50 per tonne as at 9am on Tuesday, from a closing price on Monday of $2,262 per tonne. Th...Read More
ELKO, Nev., April 13, 2021 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the "Company"), a gold exploration and development company, today announced it will be featured as a presenting company at the H.C. Wainwright Mining Conference. The conference is being held on April 19 - April 20, 2021 virtually.Edward Karr, founder of U.S. Gold Corp., will provide an overview of the Company's business...Read More