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RESEARCH: Key takeaways from the latest Steel Market Tracker

July 09, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Price uptrend stumbles, but expected to resumeAs we expected, Chinese export and domestic steel prices moved upward in June, settling within the 2% range of our forecasts. Rebar prices trended downward in the second half of the month while heavy rains and floods in parts of the country meant that some construction sites had...Read More

MORNING VIEW: Broader markets softer, base metals prices mixed while China's rally continues

July 09, 2020 / www.metalbulletin.com

With the exception of China's CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Wednesday July 8, while base metals prices on the London Metal Exchange were little changed and those on the Shanghai Futures Exchange were generally firmer.We wait to see if the halt in the rise in equities is just a pause, or whether focus is turning to the rapid sp...Read More

Nornickel fined $2.1bln over Arctic oil spill

July 09, 2020 / www.metalbulletin.com

Nornickel should pay $2.1 billion in damages for an unprecedented oil leak in the Arctic by a company subsidiary, Russia's Environment Supervision Agency, Rosprirodnadzor, suggested on Monday July 6. The "voluntary" damages bill sets a Russian record and adds to at least another $343 million Nornickel previously said it would spend related to the May 29 incident in Siberia. Nornickel gave a "hugel...Read More

Trade log: Cobalt standard grade, in-whs Rotterdam, $/lb

July 09, 2020 / www.metalbulletin.com

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$13.80-14.20 per lb...Read More

Trade log: Cobalt alloy grade, in-whs Rotterdam, $/lb

July 09, 2020 / www.metalbulletin.com

The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More

IN CASE YOU MISSED IT: 5 key stories from July 8

July 09, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary," while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar...Read More

US HRC still below $24/cwt, demand outlook mixed

July 09, 2020 / www.metalbulletin.com

Hot-rolled coil prices in the United States increased slightly on Wednesday July 8 while remaining under $24 per hundredweight, with market participants split on demand outlook due to continued concerns about the Covid-19 pandemic.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.53 per cwt ($470.60 per ton) on Wednesday July 8, a 0.7% increase from $23.36 per cwt o...Read More

FERROUS WEBINAR: Steady hopes; downside lingers

July 09, 2020 / www.metalbulletin.com

Market participants in the US ferrous supply chain attending aFastmarkets webinar on June 30 expected prices to be largely stable in the coming months, but benchmark indicators continue to track downward as an uneven reopening of the United States economy clouds the outlook. About 62% of respondents to a poll held during the webinar - titled "Sunny days ahead?" - expected hot-rolled coil...Read More

IN CASE YOU MISSED IT: 5 key stories from July 8

July 09, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary," while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar...Read More

EUROPE REBAR: Prices stabilize, supported by good demand in most regions

July 09, 2020 / www.metalbulletin.com

Steel rebar prices were largely steady in Europe in the week to Wednesday July 8 with buying activity reported to be satisfactory in most regions. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?425-435 ($480-492) per tonne on Wednesday, narrowing from ?,?420-435 per tonne delivered last Wednesday. The assessment was based on...Read More

EUROPE SECTIONS: Market widens as mills seek orders

July 09, 2020 / www.metalbulletin.com

The price of hollow steel sections in Northern Europe widened on Wednesday July 8 with mills seeking to fill their order books before the seasonal summer slowdown, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-560 ($610-632) per tonne on Wednesday, widening downward from ?,?550-560 per tonne a week earlier.F...Read More

FERROUS WEBINAR: Steady hopes; downside lingers

July 09, 2020 / www.metalbulletin.com

Market participants in the US ferrous supply chain attending aFastmarkets webinar on June 30 expected prices to be largely stable in the coming months, but benchmark indicators continue to track downward as an uneven reopening of the United States economy clouds the outlook. About 62% of respondents to a poll held during the webinar - titled "Sunny days ahead?" - expected hot-rolled coil...Read More

DAILY STEEL SCRAP REPORT: Weak demand for rebar keeps mills away from deep-sea scrap market

July 09, 2020 / www.metalbulletin.com

Turkish steel producers have continued to stay away from the deep-sea scrap market so far this week because of weak demand for finished long steel, sources told Fastmarkets on Wednesday July 8.Mills in Turkey booked five deep-sea cargoes late last week, totalling around 140,000 tonnes.However, they went quiet at the beginning of the week after struggling to sell finished long steel products i...Read More

RESEARCH: Key takeaways from the latest Steel Market Tracker

July 09, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Price uptrend stumbles, but expected to resumeAs we expected, Chinese export and domestic steel prices moved upward in June, settling within the 2% range of our forecasts. Rebar prices trended downward in the second half of the month while heavy rains and floods in parts of the country meant that some construction sites had...Read More

Iranian billet prices gain amid demand recovery in China

July 09, 2020 / www.metalbulletin.com

Iranian export steel billet prices increased in the week ended Wednesday July 8 with demand recovering in China.Chinese domestic rebar prices increased early this week amid restocking and rising futures, which resulted in a re-emergence of import activity in billet.According to market participants, bids for Iranian billet from China increased to $400 per tonne cfr on Monday and reached $405 per to...Read More

IN CASE YOU MISSED IT: 5 key stories from July 8

July 09, 2020 / www.metalbulletin.com

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary," while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar...Read More

WEBINAR: Covid-19 resurgence in Beijing unlikely to shake domestic ferro-alloys market

July 09, 2020 / www.metalbulletin.com

The recent resurgence of Covid-19 infections in Beijing is not expected to exert any significant impact on the domestic ferro-alloys market, delegates heard at Fastmarkets' "Covid-19 and Asian ferro-alloys market" webinar on Tuesday June 30. "I think [despite] the [new outbreak of Covid-19 cases] in Beijing, the influence [on the domestic ferro-alloys market] is quite slight, or [we can say there...Read More

EUROPE SECTIONS: Market widens as mills seek orders

July 09, 2020 / www.metalbulletin.com

The price of hollow steel sections in Northern Europe widened on Wednesday July 8 with mills seeking to fill their order books before the seasonal summer slowdown, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-560 ($610-632) per tonne on Wednesday, widening downward from ?,?550-560 per tonne a week earlier.F...Read More

RESEARCH: Key takeaways from the latest Steel Market Tracker

July 09, 2020 / www.metalbulletin.com

The latest forecasts from Fastmarkets' team of analysts are ready to view.Price uptrend stumbles, but expected to resumeAs we expected, Chinese export and domestic steel prices moved upward in June, settling within the 2% range of our forecasts. Rebar prices trended downward in the second half of the month while heavy rains and floods in parts of the country meant that some construction sites had...Read More

Mexican vehicle production continues recovery in June

July 09, 2020 / www.metalbulletin.com

Mexico's automotive production continued to recover in June amid the Covid-19 pandemic, rising by nearly 10 times from May. But it remains about a third lower compared with a year earlier.The country produced 238,946 light vehicles last month, in sharp contrast with the 22,119 units produced in May, but still 29.3% lower than an output of 337,721 units in June 2019, according to data released by i...Read More

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