Uncertainties surrounding the trade war between China and the United States sapped trading activity in both the futures and physical markets for Chinese rebar on Monday August 5, resulting in prices falling further.Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-551) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,730-3,760 yuan per tonne, down 20 yuan per tonneSeveral analy...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's hot-rolled coil prices fell further on Monday August 5 on weak demand caused by pessimism sparked by the country's trade tensions with the United States.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($536-537) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,750 yuan per tonne, down 30 yuan per tonneDespite mills keeping their official ex-works prices steady, thin trading...Read More
Turkish steel producers have not made any deep-sea bookings at the start of this week because of soft demand for finished long steel, sources said on Monday August 5.After the mills booked several deep-sea cargoes in the week ending July 26, they have backed out of the market."The mills in Turkey want to sell some [rebar] before resuming their...Read More
More deals have been made in the United States pig iron market at higher prices because of improved market fundamentals, sources told Fastmarkets during the week ended Friday August 2.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $365-368 per tonne on Friday, widening upward from $365 per tonne a week before.Bookings of Ukraine-origin pig iron for September shipme...Read More
Domestic scrap prices in the Turkish market fell slightly over the past week due to weak demand for finished steel, sources said on Monday August 5.Several steel mills in the Izmir region reduced their buy prices for auto bundle scrap by around 20-55 Turkish lira ($4-10) per tonne over the past week.Long steel mill...Read More
Seaborne coking coal prices fell further on Monday August 5 with more cargoes being sold at prices below those achieved last week.Another deal was heard concluded at $161 per tonne fob Australia for a top-ranked brand, the same price as was agreed for a similar cargo on Friday of last week.Another shipment of such product, scheduled for loading at the end of September, was traded at $173 per tonne...Read More
Seaborne iron ore prices tumbled for a second day on Monday August 5 amid pessimistic sentiment generated by China's ongoing trade war with the United States, which picked up in intensity toward the end of last week.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $100.56 per tonne, down $7.17 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $99.06 per...Read More
The 65% Fe iron ore derivative contract offered by the Singapore Exchange (SGX) registered record levels of open interest and monthly traded volumes in July 2019, with the contract seeing participation from a diverse set of physical and financial stakeholders in the iron ore value chain.Open interest for the contract, which is settled on the basis of Fastmarkets' index for iron ore 65% Fe Brazil-o...Read More
The concentrate and pellet segments of the seaborne iron ore market continued to experience lackluster trading last week, which kept prices largely unchanged.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $120.76 per tonne last Friday August 2, up $1.35 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines,...Read More
The United States will impose additional tariffs on Chinese goods entering the country from the start of September, according to US President Donald Trump, which could hit shipments of metals and minerals from China to the US and suppress commodity consumption in the former.In comments on his Twitter account on Thursday August 1, Trump said that "Trade talks are continuing, and during the talks th...Read More
Key data from the pricing sessions in Asia and Europe for the week ended August 2. ChinaKey drivers The price of antimony MMTA standard-grade II, ddp China, remained flat week on week due to sparse trading activity. Domestic antimony suppliers remained resolute in holding their offer prices firm, citing limited ore material at hand.Some domestic antimony consumers chose to sit on the sidelines aft...Read More
The downward trend in the benchmark cobalt price slowed in July, with some suppliers less eager to compete for sales while spot activity is slow, speculative buying spurs the domestic Chinese metal price and optimism filters through to the cobalt sulfate market.Price move Traders in the international market continued to focus on back-to-back business rather than restock in any meaningful way in Ju...Read More
Spot prices for cobalt metal moved up for the first time since late April on Friday August 2 after recent price declines prompted consumer and trader buying against a backdrop of stronger prices in China. Fastmarkets' benchmark standard-grade cobalt price, in whs Rotterdam rose 1.4% to $12.20-13 per lb on August 2. Prices had moved to $12.10-12.75 per lb on July 31, widening out from $12.30-12.65...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Fastmarkets MB prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonne Click here for Fastmarkets' price assessment for the cobalt sulfate, Co 20.5% basis China ex-works, adjustment...Read More
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Bob Moriarty ArchivesAug 6, 2019In late 2008 during what is now referred to as the Great Financial Crisis, government and financial managers had an opportunity to reset a badly out of balance dysfunctional banking system. It would have required pain from bank bondholders, shareholders and taxpayers in general. Everyone recognized the banks were burning down, seemingly out of control.We should have...Read More
Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comAug 6, 2019 Is China a currency manipulator?For one possible answer to this question, please click here now. My view is almost identical to Kyle’s; China’s government is manipulating its currency... higher! Trump’s tariff tax obsession may be somewhat comical, but it is c...Read More