Prices for Brazilian slab exports inched up in the week ended Friday June 12 while producers continued to push offers higher.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil widened upward by $10 to $355-375 per tonne on Friday from $355-365 per tonne one week earlier.Deals were made to China at close to $400 per...Read More
Domestic flat and long steel prices remained unchanged in Brazil in early June while demand remained stagnant, but mills were already planning increases for July.Prices held steady, maintaining their highest levels in at least one year in the case of flat-rolled products while no discounts were being offered despite tumbling demand. The long steel sector had some discount reports, although prices...Read More
There has been some follow-through selling in Asian-Pacific equity markets and base metals on the Shanghai Futures Exchange this morning, Friday June 12, but base metals on the London Metal Exchange and pre-market major western equity index futures are consolidating after Thursday's routs. * Pre-market Dow Jones equity index futures were indicated to open up by 1.4% this morning after the Dow Jone...Read More
Italian rebar producers seeking new export destinations, appear to have succeeded after reports of a surge in sales to North America this week, sources told Fastmarkets on Friday, June 12.And market participants in Italy's domestic market have complained about shortages of material due to the increase in export sales.Several sources in Italy confirmed to Fastmarkets that a 50,000-tonne c...Read More
Indian domestic secondary billet prices fell by 700 rupees ($9) per tonne in the week to Friday June 12, after a fall in finished steel prices in the country.According to an official from a billet mill in central India, demand for finished and semi-finished products had declined because some states in India have re-imposed restrictions to control the spread of the...Read More
European hot-rolled coil prices in Northern Europe have been fairly stable day on day on Friday June 12 in slow market, sources told Fastmarkets.Although the demand remains low, steelmakers are expected to announce higher offers this month, they added.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?396.25 ($449.74) per tonne on Friday June 1...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 50 points in pre-opening trade.Adobe gained $11.33 to $399.00 after reporting higher than consensus fiscal second quarter earnings. JP Morgan raised its target price from $325 to $430.Lululemon dropped $9.26 to $298.86 after reporting lower than consensus first quarter revenuesGeneral Motors advanced $1.32 to $27.82 af...Read More
Domestic prices for ferrous scrap in Italy decreased month on month on Friday June 12, due to declining finished steel prices in Southern Europe, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, E40 shredded, delivered to mill, Italy, was ?,?220-240 ($250-272) per tonne on June 12, down by ?,?20 per tonne from ?,?240-260 per tonne in mid May.And Fastmarkets' monthly...Read More
New pig iron sales to China continued to support further growth in global prices, but the future price trend is unclear, market sources said. At least two new cargoes were bought from the south of Brazil by international traders at $310 per tonne fob, with a freight rate of about $30 per tonne for September shipment. One cargo of Brazil-origin material was sold trader's position at $340-345 per to...Read More
The United States' pig iron price continued to increase in the week to Friday June 12 on new bookings from the Commonwealth of Independent States, sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $320-322 per tonne on Friday, up from $312-320 per tonne a week before.Two bookings...Read More
Pig iron export prices from Brazil rose again during the week to Friday June 12 on new sales to China.Fastmarkets' assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $310-315 per tonne on Friday, an increase of $15 from $295-300 per tonne last week.At least two new sales were done from the south of...Read More
Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices, pushing this week's volumes to about 250,000 tonnes, sources told Fastmarkets on Friday June 12.A steel mill in the Iskenderun region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $262 per tonne cfr.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of...Read More
The price of containerized ferrous scrap imports into India inched up again this week, despite many market participants still unable to secure deals, sources told Fastmarkets on Friday June 12. Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $285.89 per tonne on Friday, up from $278.58 per tonne one week previous. Market sources reported offers for s...Read More
Fastmarkets' fob Australia seaborne hard coking coal index moved up on Friday June 12, after a steel mill in India booked an August-laycan spot cargo on Thursday.Fastmarkets indices Premium hard coking coal, fob DBCT: $107.36 per tonne, down $0.23 per tonne Premium hard coking coal, cfr Jingtang: $116.52 per tonne, down $0.29 per tonne Hard coking coal, fob DBCT: $89.42 per tonn...Read More
Rising futures kept China's domestic hot-rolled coil prices supported on Friday June 12, while export transactions remained thin amid strong competition from other countries.DomesticEastern China (Shanghai): 3,650-3,660 yuan ($516-518) per tonne, unchangedNorthern China (Tangshan) - weekly assessment: 3,600-3,610 yuan per tonne, narrowed by 10 yuan per tonne Prices were stable in Shanghai, with bu...Read More
China's domestic rebar prices dropped slightly on Friday June 12 amid a bearish outlook for demand due to the country bracing itself for floods amid forecast heavy rain.Domestic Eastern China (Shanghai): 3,580-3,610 yuan ($505-510) per tonne, down by 10 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,690-3,720 yuan per tonne, down by 10 yuan per tonneThe Ministry of Water Resources i...Read More
The London Metal Exchange three-month lead price was higher during morning trading on Friday June 12, with a fresh cancellation of some 11,450 tonnes bolstering the metal's exchange price, while steady buying in copper futures continued over the morning.LME lead's outright price was recently at $1,764.50 per tonne - climbing from a morning low of $1,723 per tonne - while turnover was moderately lo...Read More
There has been some follow-through selling in Asian-Pacific equity markets and base metals on the Shanghai Futures Exchange this morning, Friday June 12, but base metals on the London Metal Exchange and pre-market major western equity index futures are consolidating after Thursday's routs. Pre-market Dow Jones equity index futures were indicated to open up by 1.4% this morning after the Dow Jones...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $14.00-15.00 per...Read More