Imports of used beverage cans (UBCs) into the United States inched higher again in June as a result of squeezed domestic supply due to restrictions on recycling operations, Fastmarkets understands.The United States imported 18,654 tons of UBC scrap in June, up by 3.9% from 17,961 tons in May, bringing the year-to-date total to 80,130 tons, figures from the US Department of Commerce show.UBC scrap...Read More
Total exports of nonferrous scrap materials from the United States increased month on month in June, as foreign buying of US products continued to recover from Covid-19-induced economic shutdowns.Nonferrous exports totaled 237,106 tons in June, up 14.6% from 206,857 tons in May, but down 6.1% from 252,623 tons in June 2019.Year-to-date volumes, however, fell by 12.3% year on year to 1,375,129 tons...Read More
Secondary aluminium scrap and ingot prices in the UK rose on Wednesday August 19, with limited demand returning to the market although supply was still constrained after the Covid-19-related shutdowns.A lack of manufacturing activity in the country after the pandemic-related lockdowns in March has led to a reduced level of aluminium scrap supply in recent months, market participants said.The recen...Read More
The three-month copper price on the London Metal Exchange was the standout performer at the close of trading on Wednesday August 19, with steady buying into the afternoon causing the red metal to break through nearby resistance, while zinc futures closed above $2,500 per tonne for the first time since November 2019. The copper price closed at $6,685 per tonne on Wednesday afternoon, notching its h...Read More
The Madras High Court of India has rejected Vedanta's plea to restart its Tuticorin copper complex, which has been closed since 2018.The long-awaited verdict came on Tuesday August 19 to uphold an earlier decision to keep the 400,000 tonne-per-year copper complex in Tamil Nadu closed with no access to electricity. In 2018, 13 locals were killed in a shooting incident during a protest aga...Read More
Hot-rolled coil prices in the United States slid below $24 per hundredweight ($480 per short ton) on Wednesday August 19 after clearing that hurdle the day before for the first time since July 6.Fastmarkets' steel hot-rolled coil index, fob mill US was calculated at $23.85 per hundredweight on Wednesday, down 0.7% from $24.03 per cwt on Tuesday August 18 but up 3.9% from $22.96 per cwt on Wednesda...Read More
Steady raw material costs and increasing demand from the automotive and construction sectors have kept wire rod prices in the United States firm, market participants said. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $29-29.50 per hundredweight ($580-590 per short ton) on Tuesday August 18. This is down by 8.6% from $31.50-32.50 year over...Read More
Steel rebar producers in the United Arab Emirates have increased their prices recently, and were unwilling to give discounts because of high production costs, sources told Fastmarkets on Wednesday August 19.The country's biggest rebar producer, Ezz Steel, has been offering the product since August 17 at 1,830 dirhams ($498) per tonne ex-works for orders to be produced in September. This was up fro...Read More
The price of steel H-beams in Europe was unchanged again in the week ended Wednesday August 19, but market participants expected to see increases by September at the latest, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?530-560 ($631-667) per tonne on Wednesday, unchanged week on week.In the south of Europe, prices were also...Read More
Domestic prices for heavy steel plate in Europe were stable over the week to Wednesday August 19, due to the seasonal summer lowdown, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged over the week at ?,?450-470 ($536-560) per tonne on August 19.The assessment was based on deals heard in early August at ?,?450 pe...Read More
The US ferrous scrap export market has been locked in a holding pattern since overseas buyers retreated to the sidelines over the past week following a flurry of activity earlier this month.Interest in the deep-sea market from Turkey, the biggest buyer of US ferrous scrap, has died down amid reports that the country's long steel demand has been affected by a weakening Turkish lira and a strengthen...Read More
Prices for 300-series stainless steel scrap continued to climb week on week in the United States, even as the impact of the Covid-19 pandemic has continued to hobble the economy.While the 400-series stainless scrap grades mostly moved sideways in reaction to the ferrous market, the 300-series stainless scrap grades continued to move up, supported by nickel's upward momentum."With the London Metal...Read More
Ferrous scrap exports from the United States continue to gain traction after collapsing in the spring, with shipments edging up by 0.8% month on month in June, according to the latest figures from the US Census Bureau.US exports of ferrous scrap totaled 1,410,434 tonnes in June, up from 1,399,638 tonnes in May as increased deliveries to Turkey and Canada offset a sharp fall in exports to Banglades...Read More
The Turkish deep-sea scrap import market has remained quiet so far this week, with mills staying away due to weak finished long steel demand, sources said on Wednesday August 19.The country's steel producers halted their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) was $285 per tonne cfr for material from the United States and the Baltic Sea.Since then, no significan...Read More
A sharp rise in the Kanto auction price and improved demand from South Korea helped Japanese export steel scrap prices rise over the last week, market sources told Fastmarkets on Wednesday August 19. Japan's monthly Kanto Tetsugen, which is an auction between a cooperative of scrap dealers in the Tokyo region, was moved back one week from its usual slot in the second Wednesday of the month due to...Read More
Seaborne premium hard coking coal prices in the cfr market edged lower on Wednesday August 19 on recent transactions. Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.56 per tonne, up $0.07 per tonne Premium hard coking coal, cfr Jingtang: $114.57 per tonne, down $0.50 per tonneHard coking coal, fob DBCT: $85.02 per tonne, unchangedHard coking coal, cfr Jingtang: $98.29 per tonne, uncha...Read More
Iron ore fines prices gained ground on Wednesday August 19 with healthy demand continuing, sources said, while the decrease in China domestic iron ore production in July could help push prices up.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.09 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $128.39 per tonne, up $1.31 per tonne58% Fe fines high-grade premium, cf...Read More
A simmering dispute between Japan and South Korea is expected to inflict further damage on the trading relationship and diplomatic ties between the two countries, analysts told Fastmarkets this week.Two weeks ago, the District Court in Daegu, South Korea, approved the seizure of Nippon Steel assets in the country to compensate Korean men forced to work in Nippon's factories during the Se...Read More
Global zinc premiums were collectively flat in the week to Tuesday August 18, while an uptick in lead demand in Southeast Asia allowed spot interest to mount, albeit against climbing LME three-month prices for both commodities. Catch-up demand boosts lead business in South Asia Higher offers heard in Shanghai on intermittent opening of arbitrage window; zinc premium holds The European summer slowd...Read More
China's hot-rolled coil prices were largely stable on Wednesday August 19, but overseas buyers were seeking cheaper numbers from traders with position cargoes.DomesticEastern China (Shanghai): 4,070-4,090 yuan ($588-591) per tonne, widening downward by 10 yuan per tonneSellers in eastern China wereoffering HRC at 4,080-4,090 yuan per tonne on Wednesday morning and later cut prices in the afternoon...Read More