Spot supply of blister copper improved to boost the intermediate copper product's refining charges (RC) in July, mainly due to arrival of delayed African cargoes at Chinese ports, Fastmarkets heard.Fastmarkets assessed 98-99% blister copper RC, spot, cif China at $135-155 per tonne for July, up 20% from $110-132 per tonne one month earlier. A few parcels were even reported being bought close to $1...Read More
Amid mixed trading activity and a lower dollar index, the London Metal Exchange three-month lead price succumbed to selling pressure during morning trading on Tuesday August 4 while aluminium futures held on to gains made on Monday against moderate turnover. Lead's outright price on the LME recently traded at $1,845.50 per tonne, falling from a morning high of $1,871 per tonne, while turnover was...Read More
The metals and equity indices were headed in different directions this morning, Tuesday August 4, with equities up and metals down, but good data may well push metals prices higher as the day progresses - especially given better-than-expected US vehicle sales in July. Nasdaq set another record high on Monday.US total vehicle sales rose to 14.5 million units annualized in July, sales were expected...Read More
US hot-rolled coil prices have rebounded above $22.50 per hundredweight ($450 per short ton) as mill lead times increasingly stretch into the typically busier autumn months - although questions remain as to whether the Covid-19 pandemic might disrupt those usual seasonal patterns.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.64 per cwt ($452.80 per ton) on Tuesd...Read More
Hot-rolled coil prices in the United States weakened on Monday August 3, with some discounting still evident because of uneven demand during a period when the Covid-19 pandemic has become more problematic in some US states.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.13 per hundredweight ($442.60 per short ton) on Monday, down by 1.8% from $22.53 per cwt on Fri...Read More
Domestic prices for hot-rolled coil in Northern Europe were stable day on day on Tuesday August 4 due to the seasonal market slowdown, but sentiment in the market remained positive, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?412.50 ($484.81) per tonne on Tuesday August 4, unchanged from Monday.Tuesday's index was base...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week in response to global price hikes, sources told Fastmarkets on Tuesday August 4. Market participants were just returning in the second half of the assessment period from Eid al-Adha celebrations and demand was moderate because of the holiday at the end of last week. UAE Offer prices for hot-rolled coil from I...Read More
The prices for steel rebar and billet in the United Arab Emirates increased this week, while market participants were just returning from the Eid Al-Adha holiday, which was celebrated at the end of last week, market sources said on Tuesday August 4.Domestic rebarThe country's rebar producers were still offering the product at 1,770-1,773 dirhams ($482-483) per tonne ex-works for orders to be produ...Read More
CIS export slab market was largely quiet in the week to Monday August 3 amid limited availability of material in the region as well as religious holidays in some of the customers' markets. Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $400-405 per tonne on Monday, up from $400 per tonne a week earlier. Some Russian producers of slab and finished flat stee...Read More
Chinese demand for imported billet increased sharply in the first six months of 2020 due to higher domestic prices in China in comparison with those beyond its shores, and market participants expect this situation to persist in the second half.Buyers in China started importing billet in large quantities since the second half of 2019, and the volume of imports grew gradually month on month.In Janua...Read More
The Turkish steel mills have broken their silence in the market and have resumed their deep-sea purchases after the Eid al-Adha religious holiday in the country, sources said on Tuesday August 4.A steel mill in the Marmara region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 20,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and new cuttings at an average...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The price for steel scrap in China has risen recently, amid high mill operating rates and at a time of heavy rain, but it remains at a premium to hot metal, we estimate. Heavy rains in China tend to increase the moisture content of iron ore stockpiles, which can cause issues during the sintering process, and this may have en...Read More
Turkish domestic auto bundle scrap prices continued to rise over the past week amid increasing imported scrap costs, while the ship scrap prices inched down amid a weaker lira, sources said on Tuesday August 4. Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,720-2,045 lira ($247-294) per tonne on Tuesday, up from last week's 1,720-1,97...Read More
Seaborne premium hard coking coal prices slumped on Tuesday August 4 following a recent transaction sealed at lower prices, with market participants attributing the downtrend partly to China's import restrictions on coking coal. Fastmarkets indices Premium hard coking coal, fob DBCT: $106.40 per tonne, down $1.96 per tonne Premium hard coking coal, cfr Jingtang: $116.38 per tonne, down $2.27 per t...Read More
Seaborne iron ore prices rose on Tuesday August 4 amid a healthy appetite for material among steel mills, according to traders.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $117.88 per tonne, up by $1.85 per tonne.62% Fe low-alumina fines, cfr Qingdao: $118.30 per tonne, up by $1.92 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $102.78 per tonne, up by $1.72 per tonne.65% Fe Bra...Read More
The price fluctuations in the high-grade iron ore market remains a key concern for Chinese steelmakers, especially with iron ore fines prices hitting an intra-year high on August 3.Steelmakers in China have started using a more price sensitive approach from July onward by consuming slightly cheaper low and mid-grade iron ore fines, trading sources said. The high-grade iron ore indices have also be...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 applies. Fastmarkets assessed cobalt alloy grade, in-whs Rotterdam at $14.25-14.70 per lb on Tuesday August...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 cobalt standard grade, in-whs Rotterdam at $14.25-14.70 per lb on Tuesday August 4, 2020. Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Numerous ore and alloy markets enjoyed upward pricing momentum in the first half 2020, with supply-side constraints supporting prices despite collapsing demand from steelmakers and other key end users. While supply side issues related to Covid-19 lockdowns have been resolved,...Read More
Three-month base metals prices on the London Metal Exchange were firmer this morning, Wednesday August 5, with gains averaging 0.3%.Pre-market major western equity index futures were also in positive territory, while metals and equities in Asian-Pacific markets were mixed.* Western markets seem buoyed by hopes for a stimulus package announcement by the United States this week.* China’s Caixin...Read More