Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased during the week ended Tuesday August 27 on lower offers, with demand yet to recover as buyers hold back until prices reach a bottom. The market is expected to improve after prices stop falling, according to sources. UAE Offers for imports of hot-rolled coil (HRC) from China to the UAE were heard a...Read More

Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More

Turkey produced 19.919 million tonnes of crude steel in January-July 2019, down from 22.184 million tonnes in the corresponding period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The 10.2% drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel. The European Commission (EC) imposed definitive safeguard...Read More

China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...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, plate, sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More

Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o held steady in the week to Friday August 23, with a few slight increases seen in Monterrey.Fastmarkets' assessment for the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was 5,000 pesos per tonne on Tuesday August 27, up by 50 pesos from 4,950 pesos per tonne a week earlier.Sim...Read More

Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More

Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More

Seaborne iron ore prices fell on Tuesday August 27, closing in on $80 per tonne cfr, amid weaker futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.35 per tonne, down $2.56 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.73 per tonne, down $2.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.07 per tonne, down $3.25 per tonne. 58...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreVale, tender, 160,000 tonnes of 62.51% Fe Standard Sinter Feed Tubarao, traded at the October average of Fastmarkets' index for iron ore...Read More

The seaborne coking coal market was quiet on Tuesday August 27, leaving market participants keenly anticipating the next transaction to gauge the price direction.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.28 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $166.33 per tonne, up $0.08 per tonne Hard coking coal, fob DBCT: $138.76 per tonne, unchangedHard coking coal, cfr...Read More

Base metals prices on the Shanghai Futures Exchange edged up during morning trading on Tuesday August 27 after tensions between China and the United States appeared to ease a day earlier after both sides announced fresh tariffs against each other last Friday.Leaders of both countries expressed willingness to return to the negotiations table to resolve trade disputes between the world's two largest...Read More

Key data from the August 23 pricing session in London.Key drivers:- Cobalt prices consolidated their recent gains, with traders continuing to restock in anticipation of tightness resulting from the closure of the Mutanda mine in the Democratic Republic of Congo at the end of the year.- Modest consumer buying took place at similar price levels, but characterized by smaller volume deals. End-users w...Read More

Stainless cold-rolled sheet prices were flat in the United States on Monday August 26, and any future price catalyst might come from the direction of London Metal Exchange nickel trading.Domestic mills held base prices firm, with Fastmarkets' assessment for stainless steel 304 cold-rolled sheet, fob mill, steady at $1.21 per lb on Monday as a result.Lead times were fairly short, pegged a...Read More

Chinese vanadium exporters continued to reduce their offer prices due to lackluster overseas buying interest in the week ended Friday August 23, while European and US markets reported thin trading amid summer mill outages. Chinese exporters reduce offers amid limited buying interest abroad.  European ferro-vanadium market faces thin trading.  Vanadium pentoxide suppliers in Europe raise...Read More

Fastmarkets MB has today discontinued 40 steel scrap, non-ferrous scrap and foundry ingot prices. After a two-month notice period, Fastmarkets MB has delisted and ceased the publication of steel scrap prices from BDSV; aluminium alloy prices from Affimet; zinc alloy prices from Brock Metals; and non-ferrous scrap and foundry alloy prices from Lettre D'Information Metaux, Assomet and CF Booth. A fu...Read More

The Dow Jones Industrial Average fell 0.99% to 25,628.90, and the S&P 500 Index dropped 1.44% to 2,847.11.Barrick Gold rose US75 ? to US$19.14 per share. The company reported second-quarter production of 1.35 million oz. gold, compared with 1.37 million oz. in the first quarter of the year. Net earnings came in at 11 ? per share - up from 6 ? per share in the first quarter - and adjusted net earni...Read More

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