Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday August 11, due to the normal seasonal demand slowdown.But steelmakers insisted on higher offers, and deal prices were likely to rise in September, when market activity traditionally revives after the summer lull.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculate...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia continued to increase over the past seven days, with demand better than last week, when market participants were just returning from the Eid al-Adha religious holiday, sources told Fastmarkets on Tuesday August 11.Some deals were heard for re-stocking purposes, and buyers said that more price increases were expected because of g...Read More
Offers for steel slab from the Commonwealth of Independent States (CIS) surged in the week to Monday August 10 amid supportive market fundamentals, sources said.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $425-430 per tonne on Monday, up from $400-405 per tonne a week earlier.One of the reasons for higher prices was the reduced availability of material amid...Read More
Turkish steel producers have slowed down their deep-sea scrap purchasing, after the domestic long steel market was affected by the weakening of the country's lira, sources said on Tuesday August 11.Mills in Turkey booked a number of cargoes last week, with the most recent transactions for material from the US and Baltic Sea at $285 per tonne cfr for HMS 1&2 (80:20).But the mills then paused their...Read More
China is turning to mergers, acquisitions and mine shutdowns to maintain its drive toward energy reform and the use of fewer fossil fuel resources.Shanxi is the country's second-largest coal-producing province. It plans to shut down 32 coal mines with total capacity for 20.74 million tonnes per year in 2020, as part of the country's drive to reduce pollution and overcapacity in the coal sector.The...Read More
Seaborne premium hard coking coal prices were relatively flat on Tuesday August 11 due to a lack of transactions, but the premium mid-volatility hard coking coal price was under pressure, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.51 per tonne, down $0.05 per tonne Premium hard coking coal, cfr Jingtang: $115.84 per tonne, down $0.04 per tonneHard coking coal, fob DBC...Read More
Seaborne iron ore prices rose on Tuesday August 11, with supply concerns developing because the Chinese government may extend the processing time for import licenses, while the high price for mid-grade fines has pushed mills to adjust their brand usage.Fastmarkets iron ore indices(Comparisons with August 7 due to National Day holiday in Singapore on August 10.)62% Fe fines, cfr Qingdao: $121.09 pe...Read More
Prices for seaborne iron ore concentrate and pellets went up last week amid an uptrend in the futures market, though demand remained weak, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $124.47 per tonne, up $9.91 per tonne65% Fe blast furnace pellet, cfr Qingdao: $131.04 per tonne, up $5.68 per tonne Key driversMarket participants said surging iron ore futur...Read More
China's domestic rebar prices rose on Tuesday August 11 to regain losses of a day earlier amid a strengthening of demand.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($523-527) per tonne, up by 30 yuan per tonneBuyers raised their procurement rates in the earlier part of the day amid rising futures. The increased demand pushed up spot rebar prices.But demand dropped in the late afternoon af...Read More
Key data from the pricing session in London on Tuesday August 11.Key driversMetal prices moved higher with prices in the $14s no longer available for either alloy-grade or standard-grade metal. Lower bids went untapped and sellers successfully raised their offer prices against a backdrop of high raw materials...Read More
The cobalt standard grade, in-whs Rotterdam 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 the price of cobalt standard grade, in-whs Rotterdam, at $15-15.30 per lb on Tuesday August 11, 20...Read More
The cobalt alloy grade, in-whs Rotterdam 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
Stainless steel cold-rolled sheet prices in the United States mostly moved in line with surcharges in August, with some buyers remaining on the sidelines until demand improves. Fastmarkets' price assessments for stainless steel 304 cold-rolled sheet, fob mill US and for stainless steel 304L cold-rolled sheet, fob mill US both rose by 50 cents per hundredweight to $117.50 per cw...Read More
Increased choppiness in the base metals in recent days suggests the bullish and bearish camps are getting more balanced and a new fight for supremacy is unfolding.This morning, Wednesday August 12, the bears have the upper hand, with base metals prices down on the London Metal Exchange and Shanghai Futures Exchange - both complexes were down by an average of 1.4% as at 6.20am London timeWider mark...Read More
Italy iShares (EWI) moved above $26.32 extending an intermediate uptrend.Morgan Stanley (MS), an S&P 100 stock moved above $53.14 extending an intermediate uptrend.Royal Bank (RY), a TSX 60 stock moved above $98.27 extending an intermediate uptrend. Nutrien (NTR), a TSX 60 stock moved above $51.76 extending an intermediate uptrend.Inter Pipeline (IPL), a TSX 60 stock moved above $14.58 extendi...Read More
Here are five Fastmarkets stories you might have missed on Monday August 10 that are worth another look.Production activity has come under threat at Belarus Steel Works (BMZ) with workers protesting against the result of the country's presidential election on Sunday August 9.Liberty House Group,...Read More
Copper futures on the London Metal Exchange sold for more than $6,400 per tonne in afternoon trading on Monday August 10, starting the week on the front foot after a slump last Friday.At the 5pm close, 3-month copper futures were settled at $6,395 per tonne, a 1.4% gain from last Friday, when news of Chilean supply strength proved negative for market sentiment. The price had been as high as $6,428...Read More
Liberty House Group, part of GFG Alliance, is interested in purchasing Alcoa's San Cipri??n aluminium smelter in Spain, sources told Fastmarkets. Alcoa launched an informal process with the workers' representatives to discuss collective dismissals at San Cipri??n on May 28. The company announced last week that the formal consultation period for collective staff dismissals at the Spanish aluminium...Read More
Liberty House Group, part of GFG Alliance, is interested in purchasing Alcoa's San Cipri??n aluminium smelter in Spain, sources told Fastmarkets. Alcoa launched an informal process with the workers' representatives to discuss collective dismissals at San Cipri??n on May 28. The company announced last week that the formal consultation period for collective staff dismissals at the Spanish aluminium...Read More
Fastmarkets will change the publication day of its European and seaborne price assessments, indices and indicators covering chrome ore and ferro-chrome to Tuesday, from Friday.Fastmarkets will change the publication day of its European and seaborne price assessments, indices and indicators covering chrome ore and ferro-chrome to Tuesday, from Friday. The prices involved are: MB-FEC-0004 - Fer...Read More