Domestic prices for steel wire rod stabilized at high levels in the week to Wednesday, despite softer buying, supported by limited availability, high scrap values, sources told Fastmarkets on June 30.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?840-870 ($998-1,033) per tonne on June 30, widening down from ?,?850-870 per tonne de...Read More

The Turkish long steel export market remained quiet this week, keeping prices stable, market participants said on Thursday July 1.Long steelmakers in the country continued to offer rebar for exports at $730-750 per tonne fob on actual weight basis.There was only one small export trade heard in the week to July 1. A...Read More

The United Kingdom has extended safeguard measures against imported steel for three years - until June 30, 2024 - the UK Trade Remedies Authority (TRA) said on June 30."The tariff-rate quota is an extension of the tariff-rate quota imposed by the European Union on behalf of the United Kingdom and other countries or territories that had effect in the United...Read More

  CANADA  DAY Pre-opening Comments for Thursday July 1stU.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Johnson & Johnson added $0.67 to $165.41 after the U.S. Surgeon General said that Johnson & Johnson's COVID 19 vaccine may protect against the Delta variant.Micron slipped $1.24 to $83.74 despite reporting highe...Read More

Turkish billet import prices fell slightly in the week to June 1 due to limited demand for the material, market sources said.Prices for steel billet exports from the Commonwealth of Independent States (CIS) softened earlier in the week on lack of support from buyers.Suppliers in the CIS region were offering billet...Read More

Brazilian exports of iron ore rose by 12.19% in June this year compared with the corresponding month of 2020, despite Vale closing down part of a large complex in southeastern Brazil, according to data published by the country's economy ministry on Thursday July 1.Iron ore exports totaled 33.68 million tonnes in June, up from 30.02 million tonnes a year before, the data showed.Vale, which is Brazi...Read More

Turkish steel mills have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Thursday July 1.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 14,000 tonnes of HMS 1&2 (95:5) at $504.50 per tonne cfr. This was the third deep-sea deal heard so far this week, with another two...Read More

Coking coal prices diverged on Thursday July 1, with cfr prices reversing amid expectations of easing domestic supply tightness in July and fob prices continuing to increase due to restocking demand, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $191.80 per tonne, up $1.48 per tonnePremium hard coking coal, cfr Jingtang: $306.59 per tonne, down $0.94 per tonneHard...Read More

Iron ore prices went up on Thursday July 1 and there was market chatter about a crude steel production limit for 2021 in certain Chinese provinces, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $219.32 per tonne, up $5.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $221.75 per tonne, up $3.90 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.51 per...Read More

Chinese steel mills in several provinces have been instructed to lower their production rates this week for environmental reasons, thereby reducing demand for raw materials, sources said on Thursday July 1."The production cuts are not limited to the Tangshan area now. Mills in Anhui, Shandong, Zhejiang, Hunan, Shanxi, and Gansu provinces have all received instructions to keep their production rate...Read More

Japanese scrap export prices continued to increase over the past week on strengthening demand for high-grade material in Japan and South Korea, sources told Fastmarkets."Korean and Japanese mills want the premier grades so the gap between H2 and Shindachi and heavy scrap (HS) keeps rising," a Japanese scrap trader said on Wednesday June 30.Offers for Shindachi busheling were heard at ?62,200-62,3...Read More

Following a three-month consultation, Fastmarkets has adjusted its iron ore index methodology to increase the transparency and predictability of its process for incorporating "floating price" information.This follows a proposal made in April for the refinement of the methodology to include data on floating prices - whereby the transaction price is determined by the index that a particular cargo is...Read More

Domestic hot-rolled coil prices in China extended their gains on Thursday July 1, with sustained expectations of production curbs in the second half of 2021 sending HRC futures to their highest in two weeks.DomesticEastern China (Shanghai): 5,460-5,500 yuan ($845-851) per tonne, up by 40 yuan per tonne from 5,420-5,460 yuan. The most-traded HRC contract on the Shanghai Futures Exchange rose to - 5...Read More

China's domestic rebar prices picked up on Thursday July 1 on early gains in the futures market, though market participants have expressed some pessimism following the release of data showing new orders in the construction industry falling in June. DomesticEastern China (Shanghai): 4,880-4,900 yuan ($755-758) per tonne, up by 20 yuan per tonneWhile the purchasing managers' index for business activ...Read More

China's domestic and export prices for stainless steel kept rising over the past week on steady local end-user demand and nickel gains.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday June 30 at $18,440 per tonne, up by $571 per tonne from $17,869 per tonne a week earlier.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wu...Read More

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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 alloy grade, in-whs Rotterdam, $/lb at 23.00-23.95 on Thursday July...Read More

The Cobalt standard grade, in-whs Rotterdam, $/lb 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 standard grade, in-whs Rotterdam, $/lb at 22.90-23.70...Read More

Elkem chief executive officer Michael Koenig has resigned.Elkem will now initiate a succession process to recruit a permanent replacement for the role, while board member Helge Aasen will serve as interim chief executive officer of the Norway-based silicon and ferro-silicon...Read More

China's tungsten market is experiencing a tight supply of concentrate and ammonium paratungstate (APT), pushing prices for both products upward and leading some participants to expect the market to begin a new uptrend.The supply shortage has forced Chinese APT exporters to either raise their offer prices or suspend trading entirely.Fastmarkets' weekly price assessment for tungsten APT 88.5% WO3 mi...Read More

Gold miner finally steadying the ship at SukariRead full newsRead More