Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday August 18, with the mills pushing their offers further upward, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?424.50 ($503.41) per tonne on Tuesday, up by ?,?5.33 per tonne day on day from ?,?419.17 per tonne on Monday.The index w...Read More
China's hot-rolled coil exporters kept offering high on Tuesday August 18 based on stable domestic market, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,080-4,090 yuan ($588-590) per tonne, up 10-20 yuan per tonneOne Shanghai-based trader said the futures price gains continued to improve market sentiment in the spot market, however, the demand mainly came from speculators who w...Read More
Prices for steel rebar in the United Arab Emirates have continued to increase over the past week but buying was only moderate, market sources said on Tuesday August 18.Domestic rebarSince Monday, the country's biggest rebar producer has been offering the product at 1,830 dirhams ($498) per tonne ex-works for orders to be produced in September. This was up from 1,773 dirhams per tonne ex-works for...Read More
Export prices for steel rebar and wire rod from the Commonwealth of Independent States (CIS) increased in the first half of August, supported by a combination of favorable market factors, Fastmarkets heard on Tuesday August 18.The revival of interest in finished long steel products among some European and Middle Eastern suppliers, reduced allocation of materials from Russian mills and the positive...Read More
China's domestic rebar prices edged up further on Tuesday August 18 amid rising futures, though demand in the spot market was largely flat. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($527-531) per tonne, up by 10 yuan per tonne Sellers in the spot market raised their prices following the gains in the futures market, but buyers did not raise their procurement rates. High temperatures...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More
Ferrous scrap prices in Mexico have increased in the past week, with some steelmakers trying to secure orders amid a recovery in demand from end-users and higher international prices.Increases were mostly reported in the central Baj?-o region of Mexico, while around the northern city of Monterrey scrap buyers have adopted a wait-and-see stance."There is more pressure for price increases in central...Read More
The Turkish steel producers have continued to stay away from the deep-sea scrap markets due to weak demand for their finished long steel products, sources told Fastmarkets on Tuesday August 18.Turkish steel mills paused their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) reached $285 per tonne cfr for US- and Baltic Sea-origin material.The poor demand for long steel was the mai...Read More
The CIS export billet market was under pressure from lower bids from foreign customers early this week, Fastmarkets has heard, and trading activity on Tuesday August 18 was limited.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $397 per tonne on August 18, down by $3 per tonne day on day.Customers in Turkey were ready to pay $410 per tonne cfr for material with prompt deliv...Read More
Prices for steel rebar in the United Arab Emirates have continued to increase over the past week but buying was only moderate, market sources said on Tuesday August 18.Domestic rebarSince Monday, the country's biggest rebar producer has been offering the product at 1,830 dirhams ($498) per tonne ex-works for orders to be produced in September. This was up from 1,773 dirhams per tonne ex-works for...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More
The board of directors of Brazil-based miner Vale has approve a project to expand capacity in the miner's Serra Sul iron ore site, in the country's northern Caraj??s region, by 20 million tonnes to 120 million tonnes per year. The Serra Sul 120 project will expand the production capacity of Vale's S11D mine and plant, which is the main unit in the Caraj??s region, with start-up expected to the fir...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 18.Please click...Read More
Ferrous scrap prices in Mexico have increased in the past week, with some steelmakers trying to secure orders amid a recovery in demand from end-users and higher international prices.Increases were mostly reported in the central Baj?-o region of Mexico, while around the northern city of Monterrey scrap buyers have adopted a wait-and-see stance."There is more pressure for price increases in central...Read More
The three-month base metals prices on the London Metal Exchange were higher at the close of trading on Tuesday August 18, after positive US housing starts and building permits data supported complex-wide buying into the afternoon, with copper led the complex by closing at its highest level since June 2018. Copper's outright price on the LME closed at $6,567.50 per tonne on Tuesday afternoon, climb...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 18 that are worth another look.The annual Asia Copper Week gathering has been canceled this year due to the global spread of Covid-19, its Chilean organizer, the Center for Copper and Mining Studies, announced on August 18.Digital financing will ease...Read More
The three-month base metals prices on the London Metal Exchange were higher at the close of trading on Tuesday August 18, after positive US housing starts and building permits data supported complex-wide buying into the afternoon, with copper led the complex by closing at its highest level since June 2018. Copper's outright price on the LME closed at $6,567.50 per tonne on Tuesday afternoon, climb...Read More
The three-month zinc price on the London Metal Exchange consolidated slightly higher during morning trading on Tuesday August 18, building on a rally at Monday's close, while tin futures remained subdued over the morning. Zinc's outright price on the LME was recently trading at $2,470.50 per tonne, climbing by 0.8% from $2,442 per tonne at yesterday's close. Turnover was moderate at just over 3,70...Read More
There are numerous crosscurrents running through the markets this morning, Tuesday August 18, with the base metals mainly firmer and gold rebounding strongly, while equity markets were mixed and the dollar continued to weaken.Broader US equity markets were weaker this morning following Monday's poor US manufacturing data and rising mortgage delinquencies, but the Nasdaq established a fresh record...Read More