Copper held steady on the London Metal Exchange during morning trading on Thursday August 15 despite stocks rising by 32,000 tonnes taking to above 300,000 tonnes for the first time since July 5. The three-month copper price has trended lower so far this month, slipping below $6,000 per tonne to its lowest since 2017 at $5,640 per tonne on August 5. It was recently at $5,742 per tonne, down just 0...Read More
Base metals prices on the Shanghai Futures Exchange were broadly down during morning trading on Thursday August 15, with weak economic data releases on Wednesday fueling anxiety among investors and dampening risk-on sentiment.In data on Wednesday, China's industrial production growth slowed to 4.8% year on year in July, below the forecast 6.0% and the previous 6.3%, recording the weakest growth si...Read More
Domestic prices for hot-rolled coil in Europe have been stable over the week to August 14 due to a seasonally weak market in August, sources told Fastmarkets.In the meantime, the market outlook for HRC later in August into early September is mixed. European steelmakers are expected to increase official offers for coil, supported by the seasonal demand recovery. But market...Read More
Steel billet and rebar prices in Egypt remained stable in the week to Thursday August 15, largely due to the Eid al-Adha holiday.Egypt's working week runs from Sunday to Thursday, with Eid observed on August 11-14 and no market activity was apparent on August 15.Continuing uncertainty over safeguard duties on steel billet and rebar also had an impact, sources said..In Apri...Read More
The Turkish billet markets have been quiet over the past week with trading activity restricted by absences for a religious holiday, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 to celebrate the Islamic Eid al-Adha.Only one steel mill was heard bidding for...Read More
A summary of the financial results for Turkey's biggest steelmaking group Erdemir for the first half of 2019, between January 1 and June 30.In briefEarnings were down due to the negative sentiment in Turkey from late 2018 into early 2019, especially after August when the country's lira lost significant ground against the dollar, following the United States doubling the tariff imposed on Turki...Read More
China's domestic rebar prices retreated again on Thursday August 5 after a two-day rebound, because of destocking, sources told Fastmarkets. Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($522-527) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,610-3,630 yuan per tonne, down 20 yuan per tonneFutures picked up today, stimulating some buying interest and traders with la...Read More
China's hot-rolled coil prices retreated on Thursday August 15 after trading activity fell for a third day.DomesticEastern China (Shanghai): 3,710-3,720 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,720 yuan per tonne, narrowing downward by 10 yuan per tonneBuying slowed further during the day, with downstream buyers putting up resistance despite mills keeping their...Read More
A lack of activity combined with pessimism and weak iron ore prices to leave export prices for pig iron from the Commonwealth of Independent States (CIS) unchanged in the week to Thursday August 15.Fastmarkets' weekly price assessment for high-manganese pig iron export, fob main port Black Sea, CIS, stayed at at $335-343 per tonne on Thursday."Italy is [at the height of the] vacation season,...Read More
Domestic prices for ferrous scrap in Italy have declined over the past month due to seasonally weak demand, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill Italy was ?,?230-245 ($257-273) per tonne on August 14, compared with ?,?240-255 per tonne in the middle of July.Demand for ferrous...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 transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at the September average of Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao, and another 62%...Read More
The retreat in seaborne iron ore prices resumed on Thursday August 15 following losses in derivatives markets while premiums continued to soften for index-linked cargoes. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $88.44 per tonne, down by $2.28 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $86.94 per tonne, down by $2.28 per tonne. Fastmarkets...Read More
The seaborne coking coal market was steady on Thursday August 14, with market participants taking a wait-and-see approach amid this month's general decline in prices.A cargo of premium low-vol hard coking coal was heard offered at $168 per tonne cfr China while another shipment of similar materials was heard to have changed hands at around $169 per tonne cfr China.The transaction was not corrobora...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
Domestic stainless steel prices in China edged up further over the past week despite the European Union initiation of an anti-dumping investigation on products from the country and two other territories.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,100-15,500 yuan ($2,148-2,205) per tonne includi...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More
Southwestern China's Kunming Intermediate People's Court will auction for all of the 18,661 tonnes of antimony ingots held by the collapsed Fanya Metal Exchange in late August, according to an official notice seen by Fastmarkets on Thursday August 15.The antimony ingots - equivalent to about two months of global output - will be put up for auction from 10am Beijing time on August 31 until 10am on...Read More
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