A look at hot-rolled coil prices around the globe. Tighter divergence. As of mid-August, prices for hot-rolled coil in the United States have remained below those in China, continuing a trend that began on July 10, according to Fastmarkets' pricing records. The reversal of normal trends - Chinese prices are typically well below US levels - resulted from US domestic prices remaining under...Read More
Prices for domestic and imported rebar in the United States were stable on Wednesday August 19, with market participants expecting prices to remain unchanged heading into late summer.US marketFastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was unchanged at $28 per hundredweight ($560 per short ton) on Wednesday August 19.According to one trader, domestic prices should remain...Read More
Hot-rolled coil prices in the United States remain up week over week on longer mill lead times and expectations of higher ferrous scrap prices in September.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.76 per hundredweight ($475.20 per short ton) on Thursday August 20, down by 0.4% from $23.85 per cwt on Wednesday August 19 but up by 1.9% from $23.31 per cwt a w...Read More
Prices for imported flat-rolled steel remain well above domestic prices despite recent gains in US tags, market participants said.The result: The market for foreign flat-rolled steel continues to be sluggish because US buyers have little reason to buy steel that won't arrive until the fourth quarter and - assuming current market conditions persist - at higher prices than domestic material, sources...Read More
The domestic hot-rolled coil price in Northern Europe moved up on Thursday August 20, following producers' bullish pricing policy, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?431.88 ($514.26) per tonne on Thursday August 20, up by ?,?4.38 from ?,?427.50 per tonne on Wednesday based on deals and achievable prices h...Read More
Imported billet and domestic rebar prices remained stable in Egypt because of weak demand, sources told Fastmarkets on Thursday, August 20.The reason demand was slow is that billet prices have stopped increasing, so end-product prices have also fallen, Egyptian sources said.Fastmarkets' daily steel billet...Read More
Imports of steelmaking raw materials into the United States fell by 12.9% month on month in June, with a sharp drop in pig iron deliveries outweighing a rise in shipments of ferrous scrap and direct-reduced iron (DRI), according to the latest US Census Bureau figures.Raw material imports totaled 654,484 tonnes in June, down from 751,732 tonnes in May but up slightly from 647,529 tonnes i...Read More
The seaborne premium hard coking coal fob index edged up on Thursday August 20 due to the bullish market sentiment from India, while Chinese participants, however, still feel trapped by a lack of coking coal import quotas, Fastmarkets heard.Fastmarkets indices Premium hard coking coal, fob DBCT: $104.17 per tonne, up $0.61 per tonne Premium hard coking coal, cfr Jingtang: $114.60 per tonne, up $...Read More
Seaborne iron ore prices were largely stable on Thursday August 20 in a much calmer market than the previous three days of trading, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.32 per tonne, up $0.23 per tonne 62% Fe low-alumina fines, cfr Qingdao: $128.59 per tonne, up $0.20 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $114.95 per tonne, up $0.4...Read More
The cascade of cargoes booked by Bangladeshi mills from United States recyclers continued over the past week to Thursday August 20, with two more deals heard, sources told Fastmarkets. Demand for scrap in Bangladesh has ballooned over the past month, with mill capacity utilization rising at the country's three largest mills, and scrap stocks at steelmakers depleting. A Bangladeshi mill bought a bu...Read More
China's domestic hot-rolled coil prices weakened on Thursday August 20, but a mill was reported to have secured an order from South America at a price above prevailing levels.DomesticEastern China (Shanghai): 4,060-4,070 yuan ($587-589) per tonne, down 10-20 yuan per tonnePrices weakened on Thursday after downstream buyers held back from placing orders in response to HRC futures tumbling during th...Read More
China's domestic rebar prices continued to drop on Thursday August 20 amid falling futures and the release of data showing high steelmaking rates.Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($523-527) per tonne, down by 20 yuan per tonneThe weakening futures market caused buying interest in the spot market to fall, which dragged down prices as well.The country's National Bureau of Statisti...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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,...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday August 19. Key driversDomestic suppliers held their offer prices firm and showed reluctance in compromising after continuous gains in futures prices on the Wuxi Stainless Steel Exchange buoyed market sentiment this week.The comparatively limited availability of tradable spot cargoes also contributed to the strength in the metal's...Read More
An overview of the minor metals markets andthe reasons for any price moves.(This article was first published on Wednesday August...Read More
Markets were for the most part upbeat this morning, Friday August 21, with all of the base metals on the London Metal Exchange firmer, as were most Asian-Pacific equities, although they are firmer within consolidation patterns.But after the accelerated gains at the start of the week, with the S&P 500 regaining all the losses suffered from the coronavirus hit and with the base metals now on average...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US 75.62 cents following release of Canada's June Retail Sales report at 8:30 AM EDT. Consensus was an increase of 24.5% versus a gain of 18.7% in May. Actual was an increase of 23.7%. Excluding auto sales, consensus was an increase of 15.0%...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
Harry "Red" Conger has been appointed as the executive vice president and chief operating officer (COO) of Teck Resources, effective September 1.Known throughout the mining industry as "Red," Conger will be responsible for all of Teck's mining and metallurgical operations, projects and joint ventures across the copper, zinc, steelmaking coal and energy business units. Read More