Pakistan's government has removed some duties on imports of hot-rolled and stainless flat steel in its annual budget for 2021-2022, the Karachi Iron & Steel Merchants Association told Fastmarkets on Monday, July 5.The government made the announcement in its latest official budget statement, having suggested that it was a possibility on June 11.The annual budget was approved on June 29, and came in...Read More
Brazilian slab prices remained stable for the fourth consecutive assessment period in the week ended Friday July 2, with buyers and sellers continuing to dispute the price level.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil, was $980-1,000 per tonne fob on July 2, unchanged since June 4.A little activity was seen during the week, with the market beginning to transitio...Read More
Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.Markets taking comfort from Friday’s US employment report. But markets likely to be quiet today with the United States celebrating Sunday’s Independence Day.Base me...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely stable in the week to Monday July 5, aided by solid demand from construction.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 72,500-75,000 ($990-1,024) roubles per tonne on Monday, including 20% value-added tax, unchanged from last week.High const...Read More
The domestic market for flat steel in Russia's Central Federal District around Moscow was broadly stable during the week to Monday July 5, with trading remaining slow amid expectations that prices will decline in July due to the effects of export duties, sources told Fastmarkets.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 105,00...Read More
July 3rd 2021The following notes were developed prior to my interview on Michael Campbell's Money Talks radio show on CKNW on Saturday. Trader's outlook for North American equity marketsSeasonal influences for North American equity markets are positive in the month of July (particularly in a Post-U.S. Presidential Election year). Strength is Post-U.S. Presidential Election years is related to...Read More
Turkish deep-sea scrap import markets were quiet on Monday July 5 with mills reluctant to buy scrap amid limited finished steel demand, while suppliers kept offers firm, market sources told Fastmarkets.Steel producers in Turkey booked four deep-sea cargoes last week, three of which were booked by a single steel mill.The most recent deep-sea transaction put the heavy melting scrap 1&2 (80:20) price...Read More
Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More
Iron ore prices were up on Monday July 5 with market sentiment improving because of the easing of restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.82 per tonne, up by $3.84 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.14 per tonne, up by $3.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184...Read More
Seaborne coking coal prices were largely stable in the cfr market on Monday July 5, but surged in the fob market due to some buyers starting purchase material to restock, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $203.20 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $307.85 per tonne, up $0.27 per tonneHard coking coal, fob DBCT: $173.42...Read More
China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.The country imported 1.17 billion tonnes of the iron ore last year, an increase of 9.4% compared with 2019.European Union countries collectively accounted for the largest decrease among major iron ore importers, with purchases tumbling 20.8% year on year...Read More
Fastmarkets invited feedback from the industry on the pricing methodology for steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne (MB-STE-0464), via an open consultation process between June 1 and July 1, 2021.This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period and therefore no...Read More
Prices for seaborne iron ore pellets and concentrate rose in the week ended Friday July 2, albeit at a slower pace than a week earlier amid temporary restrictions on sintering and blast furnace operations in certain parts of China.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $62 per tonne, unchanged65% Fe blast furnace pellet, cfr Qingdao: $301.21 per tonne, up...Read More
Vale has completed maintenance on its ship loader CN6 at its Ponta da Madeira port terminal in the northern Brazilian state of Maranh??o, which caught fire in January, it said on Friday July 2.The miner has started the commissioning of the ship loader after a five-month maintenance, in line with its schedule announced earlier this year.It has replaced more than 60% of the components of the ship lo...Read More
Hot-rolled coil prices across China's domestic market cruised higher on Monday July 5, with the futures market riding an upward wave across the ferrous complex. DomesticEastern China (Shanghai): 5,500-5,540 yuan ($851-858) per tonne, up by 60-70 yuan from 5,430-5,480 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange gained more than 1% to end the day at 5,494 yuan per t...Read More
China's domestic rebar prices increased on Monday July 5 amid higher trading activity and stronger futures prices.DomesticEastern China (Shanghai): 4,870-4,900 yuan ($754-759) per tonne, up by 40 yuan per tonneMarket participants expect steel production to drop in the second half of this year to meet a target set late last year by the Chinese Ministry of Industry & Information Technology (MIIT).Th...Read More
Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.Markets taking comfort from Friday's US employment report. Markets likely to be quiet with the United States celebrating Sunday's Independence DayBase metalsLME three-month l...Read More
Tantalum concentrate continues to gain price support amid pressing demand for consumer electronics goods and the global extent of shipping delays, which have incentivized primary tantalum producers in Central Africa to raise their output over the past month, Fastmarkets heard on Monday July 5.Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China, at $87-90 per lb on June 2, i...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,...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 23.60-24.25 on...Read More