Turkish domestic prices for steel scrap have remained stable over the past seven days on weak demand in the summer holiday period, sources said on Monday July 8.Only one steel mill changed its buy price for auto bundle scrap in the past week. Habas reduced its purchasing price for the material by TRY20...Read More
Seaborne iron ore prices rebounded on Monday July 8, with supply tightness a lingering concern for most market participants.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $118.38 per tonne, up $3.57 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $118.30 per tonne, up $4.24 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qing...Read More
Some Egyptian steel mills have appealed against the decision to suspend the safeguard duties on steel billet and rebar taken by the country's Administrative Court last week, Fastmarkets understands.The appeal was made on Sunday July 7 and follow's July 4 court ruling suspending an earlier decision to impose safeguard duties on imports of rebar...Read More
There were varied expectations for the development of the CIS export slab market in the week ended Monday June 8.Some market participants expected prices to pick up following the recent rises in raw materials prices - iron ore and scrap, in particular - as well as the recent successful sales of material from both the Black Sea and Russia's Far East ports to Asia."We intend to increase prices this...Read More
Steel slab import prices in Southeast Asia and East Asia remained unchanged, despite the fall in iron ore prices, because market participants were holding back awaiting further clarity, sources said on Monday July 8.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, was $114.81 per tonne on July 5, down $3.66 per tonne from a week earlier.A slab producer in the Commonwealth of Independent...Read More
A higher tender price for silico-manganese in China for July improved sentiment and increased prices for low-grade manganese ore in the week ended on Friday July 5. Low-grade ore price increases in ChinaHigh-grade ore in China falls amid low liquidityEuropean alloys softenUS market rolls over for public holiday Low-grade seaborne manganese ore prices rose for the second consecutive week after Chi...Read More
A sharp drop in July ferro-chrome tender prices from China's leading mills triggered a further slide in spot ore and alloy prices last week. Spot ferro-chrome price dropped by 4.6% in ChinaUG2 chrome ore slid againAlloy prices under pressure in Japan and South KoreaEuropean alloy prices weaken again Chrome ore and ferro-chrome prices dropped in China in the week ended Friday July 5 after mills an...Read More
India's Ministry of Commerce & Industry has initiated an anti-dumping investigation into imports of flat-rolled stainless steel from 15 regions.The investigation covers flat-rolled stainless steel products imported between 2015 and March 2019, under HS code codes 7219 and 7220, from China, South Korea, the European Union, Japan, Taiwan, Indonesia, the United States, Thailand, South Africa, Me...Read More
Some Egyptian steel mills have appealed against the decision to suspend the safeguard duties on steel billet and rebar taken by the country's Administrative Court last week, Fastmarkets understands.The appeal was made on Sunday July 7 and follow's July 4 court ruling suspending an earlier decision to impose safeguard duties on imports of rebar...Read More
India's Ministry of Commerce & Industry has initiated an anti-dumping investigation into imports of flat-rolled stainless steel from 15 regions.The investigation covers flat-rolled stainless steel products imported between 2015 and March 2019, under HS code codes 7219 and 7220, from China, South Korea, the European Union, Japan, Taiwan, Indonesia, the United States, Thailand, South Africa, Me...Read More
The Queensland Resources Council (QRC) will hold discussions with the Australian government, mining unions and workers this week regarding action that can be taken to increase safety across the sector. This follows a fatal accident over the weekend at the Baralaba North mine - located in the Bowen Basin of Australia's Queensland state - that led to the death of a worker. The Middlemount mine, loca...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price assessment for selenium, 99.5% Se min, in-whs Rotterdam, click here.To see all Fastmarkets' pricing methodology and specification documents, go to www.fastmar...Read More
The export prices for hot-rolled coil and cold-rolled coil (HRC, CRC) from the Commonwealth of Independent States (CIS) have increased on longer lead times and reduced availability, sources told Fastmarkets on Monday July 8.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea, CIS, was $480-495 per tonne on July 8, up by $10 per tonne week on week.Metinvest, the only flat stee...Read More
The London Metal Exchange nickel three-month price was the biggest beneficiary in an otherwise subdued 5pm ring close on Monday July 8, trading up 2% to close at $12,720 per tonne. Buying on the base metals complex was largely quiet after the dollar index rose by 0.13 to 97.38 during the day. Nickel's upward price action may have come on the strength of news of an earthquake on the Indonesian isla...Read More
Prices for steel coil products in the Brazilian domestic market remained unchanged this month, with producers encountering difficulty when trying to increase prices amid tough competition and weak steel demand.Fastmarkets' assessment of the price for steel hot-rolled coil (HRC), domestic, monthly, exw Brazil, was 2,517-2,565 Reais ($658-671) per tonne on Friday July 5, stable from a month earlier....Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 8 that are worth another look.Major miner Antofagasta has broken away from decades-long tradition to sign copper concentrates supply contracts for the first half of 2020 with China's two biggest copper smelters in June, Fastmarkets understands. A higher tender price for silico-manganese in China for July impro...Read More
Investing.com - Gold prices were near flat on Monday in Asia as traders remained cautious ahead of a congressional testimony by Federal Reserve Chairman Jerome Powell later this week.Gold futures for August delivery on the Comex division of the New York Mercantile Exchange were up 0.02% at $1,401.25 a troy ounce by 12:16 AM ET (04:16 GMT).On Friday, the U.S. reported a higher-than-expected rise in...Read More
The London Metal Exchange nickel three-month price was the biggest beneficiary in an otherwise subdued 5pm ring close on Monday July 8, trading up 2% to close at $12,720 per tonne. Buying on the base metals complex was largely quiet after the dollar index rose by 0.13 to 97.38 during the day. Nickel's upward price action may have come on the strength of news of an earthquake on the Indonesian isla...Read More
China's hot-rolled coil prices fell further on Monday July 8, though market participants expect things to improve soon with trading activity picking up domestically.DomesticEastern China (Shanghai): 3,860-3,870 yuan ($560-561) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, narrowing downward 10 yuan per tonneSpot prices fell with mills lowering their offe...Read More
Northern China's rebar prices weakened on Monday July 8 while those in the country's eastern region held steady, with market participants still taking a wait-and-see approach after iron ore prices plunged last week.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($576-580) per tonne, unchangedNorthern China (Beijing): 3,900-3,940 yuan per tonne, down 10-20 yuan per tonneMarket participants wer...Read More