Prices for rebar in Russia's Central Federal District around Moscow remained flat over the week to August 17, while sentiment in the market remained bullish on good demand from construction, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 35,000 roubles ($480) per tonne on Monday, including 20% VAT, flat with the week before and...Read More
The domestic steel rebar price in Brazil increased for the second consecutive month in August, after steelmakers' attempts to raise it in July were successful, market participants said.Fastmarkets' monthly assessment of steel reinforcing bar (rebar) domestic, delivered Brazil was 2,510-2,620 Reais ($463-483) per tonne on Friday August 14, up from 2,410-2,530 Reais per tonne on July 10.As well as r...Read More
Egypt consumed 439,000 tonnes of rebar in July 2020, 33.48% less than the 660,000 tonnes it consumed in July 2019, Egyptian sources told Fastmarkets.This was up from 312,000 tonnes of rebar consumed in May 2020, but down from 658,000 tonnes of rebar in June 2020, sources added.The reasons behind Egypt's falling rebar consumption were the Eid al-Adha holidays at the end of July as well as the const...Read More
The Brazilian ferrous scrap sector has renewed its efforts to secure supply deals on longer-term contracts with the country's two top steelmakers, ArcelorMittal and Gerdau, which currently buy in the spot market, according to scrap materials association Inesfa.Other producers which use scrap as input - such as Grupo Simec, Companhia Sider??rgica Nacional (CSN) and Ternium - already engage in contr...Read More
The Turkish steel mills went through the first working day of the week making no deep-sea scrap bookings, adding to a week-long silence in the deep-sea markets, Fastmarkets heard on Monday August 17.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.Market participants expected the mil...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
The seaborne premium hard coking coal fob price dropped on Monday August 17 following recent transactions, while participants said that the ex-China markets are now more active than the cfr market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.55 per tonne, down $1.29 per tonne Premium hard coking coal, cfr Jingtang: $115.02 per tonne, down $0.07 per tonneHard coking coal, fob DBCT:...Read More
Iron ore fines prices held steady in the physical market on active trading on Monday August 17, largely due to low mid-grade fines port inventories in China and despite a decrease in Dalian Commodity Exchange futures values, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.44 per tonne, down $0.50 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.50 pe...Read More
Prices for seaborne iron ore pellets strengthened in the week ended Friday August 14 while those for concentrate edged up.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $125.47 per tonne, up $0.78 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $134.14 per tonne, up $3.10 per tonne.Key driversSeveral traders noted that offers for several cargoes of pellets issued last week were h...Read More
Chinese lithium producer Tianqi has announced that company president Vivian Wu submitted a written letter of resignation on August 12, according to a filing to the Shenzhen stock exchange on Friday August 14.Wu's term of office was scheduled to end in 2023. She cited "personal reasons" for her decision.Tianqi chairman Jiang...Read More
China's hot-rolled coil prices gained some strength on Monday August 17 after buyers stepped up on restocking amid rising futures.DomesticEastern China (Shanghai): 4,060-4,080 yuan ($584-587) per tonne, up 20 yuan per tonneSeveral Shanghai-based traders said trading activity had picked up on Monday compared with the last few working days of last week, which pushed prices upward.Market sentiment wa...Read More
China's domestic rebar prices moved up on Monday August 17 on steady buying and expectations among buyers that demand would gradually increase in the next few months. Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($524-528) per tonne, up by 30 yuan per tonneA strengthening of rebar futures stimulated buying interest in the spot market, which in turn pushed up prices for physical products.Inv...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...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 applies. Fastmarkets assessed Cobalt...Read More
Key data from the pricing session in Shanghai on Friday August 14. Key drivers The domestic price rose for the fifth consecutive week due to deals concluded in the range. Some sources remain optimistic the uptrend will continue due to tight spot supply. Demand from the downstream bismuth trioxide market...Read More
Key data from the Friday August 14's pricing session in Shanghai.Key drivers Gap between offers and bids widened. Sources raised export offers due to stronger domestic prices in China, but many overseas buyers were still only willing to...Read More
The UK market for deliveries of steel scrap to domestic consumers has increased in August, more than paring losses made in July as tighter supplies and firmer demand at home and abroad combined to push up prices, industry sources told Fastmarkets.The United Kingdom's domestic market for steel scrap gained strength in August, with tighter supply and firmer demand at home and abroad combining to pus...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 recor...Read More
S&P 500 Index moved above 3393.52 to an all-time high extending an intermediate uptrend.Frontier iShares (FM) moved above $24.69 extending an intermediate uptrend. JD Inc. (JD), a NASDAQ 100 stock moved above $69.18 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Tuesday August 18thU.S. equity index futures were higher this morning. S&P 500 futures were up 6...Read More
* Zinc touches highest in almost seven months * Lead hits strongest level since Jan. 23 * Yangshan copper premium extends losses (Updates prices) By Eric Onstad LONDON, Aug 17 (Reuters) - Nickel prices surged to theirhighest in nearly nine months on Monday on concern over supplyfrom the Philippines, the leading exporter of the stainlesssteel raw material. Copper and most other industrial metals al...Read More