Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Friday August 27 while market participants wait to hear what United States Federal Reserve chair Jerome Powell has to say about the US monetary policy timeline when he speaks later today. Asian-Pacific equity indices were mixed this morningBase metalsLME three-month zinc ($2,981 per tonne) an...Read More
Prices for shredded steel scrap into Pakistan and India have decreased in the week to Friday August 27, sources told Fastmarkets.Demand in India remained muted due to the monsoon season, and trading activity in Pakistan continues to remain high.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $525.57 per tonne on Friday, down by $13.4...Read More
The Latin American market continued to render support to CIS billet exporters with a second deal to the region reported during the week to Friday August 27. The price of the second one was, however, lower than the first.A cargo of 35,000 tonnes of Ukraine-origin billet with increased manganese content was sold to Latin America at $685 per tonne cfr. Sources said the price for basic grade would be...Read More
Slab export prices from Brazil were stable in the week ended Friday August 27, after most volumes available were sold at the same level as previous weeks.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil was $900-920 per tonne on Friday, unchanged from the previous week.In the last two weeks, deals have been closed to several buyers in the United States, where demand for...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More
The price of alloy steel scrap in the UK domestic market increased in the week to Friday August 27 because of higher nickel costs and an ongoing tightness of supply, sources told Fastmarkets.Fastmarkets' weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,300-1,400 ($1,785-1,922] per tonne on Friday, up by ?50-100 per tonne week on week.The price...Read More
Indian domestic prices for secondary steel billet tumbled by 1,900 rupees ($26) per tonne in the week ended Friday August 27 with the price of the key raw material, direct-reduced iron (DRI), dropping by 1,200 rupees per tonne.The slide in billet prices through the week was driven by sluggish demand and fewer inquiries from buyers.The price of steel billet, domestic, exw India, assessed by Fastmar...Read More
Prices for flat-rolled steel imported into South America ended the week to Friday August 27 with no clear trend amid market illiquidity caused by fewer offers from China and a fewer available products from Commonwealth of Independent States.For hot- and cold-rolled coil, prices increased week on week following fewer offers from CIS-based mills, which were pressuring figures downward. The majority...Read More
Seaborne iron ore prices mostly increased on Friday August 27 amid stable trading activity in the physical market, particularly at China's ports, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $157.55 per tonne, up $4.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.84 per tonne, up $4.04 per tonne58% Fe fines high-grade premium, cfr Qingdao: $126.50 per tonne, up $3.62...Read More
Strict real estate regulations issued by China's central and local governments have slowed down growth in the country's housing market in the first seven months of 2021.Participants expect these policies to continue to have a strong effect on the market for the remainder the year, which would slow down growth for rebar demand.Three red linesThe People's Bank of China and the Ministry of Housing &...Read More
Major steel production exports out of China in July decreased from June due to the removal of an export rebate on May 1.For instance, the hot-rolled coil export was 817,276 tonnes in July, down by 20% from 1.03 million tonnes in June, according to customs data.Market participants expect exports to keep the month-on-month...Read More
Indian domestic prices for secondary steel billet tumbled by 1,900 rupees ($26) per tonne in the week ended Friday August 27 with the price of the key raw material, direct-reduced iron (DRI), dropping by 1,200 rupees per tonne.The slide in billet prices through the week was driven by sluggish demand and fewer inquiries from buyers.The price of steel billet, domestic, exw India, assessed by Fastmar...Read More
At $3 below $2,700 per tonne, aluminium reached its highest three-month price on the London Metal Exchange since May 2011 on Friday August 27, and most prices on the complex were also up following long-awaited statements from the US Federal Reserve Chair. The new year-to-date peak for aluminium was $2,697 per tonne on Friday; the metal was up by 1.1% at 5pm to $2,649.50 per tonne from Thursday's $...Read More
The Commonwealth of Independent States' pig iron export market was weak during the week to Thursday August 26 due to a lack of demand.Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $510-520 per tonne on Thursday, down by $15-20 from $525-540 per tonne the previous week."That was another muted week in the market," one trader said. "[The] gen...Read More
The domestic steel rebar price in Poland was flat in the week to Friday August 27 due to a seasonal slowdown, though expectations for September are rather bright amid solid construction demand, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was unchanged at 4,050-4,100 zloty ($1,041-1,054) per tonne on Friday.Read More
Low-volatility pulverized coal injection (PCI) prices in both the fob and cfr market jumped following price gains in coking coal the week to Friday August 27. And a shortage of railway wagons in Russia has delayed the transport of PCI to China, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.51 per tonne, down $0.42 per tonneHard coking coal, cfr Jingtang: $385.67 per...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 27.Susan Zou, Yingchi Yang and...Read More
Indian domestic prices for secondary steel billet tumbled by 1,900 rupees ($26) per tonne in the week ended Friday August 27 with the price of the key raw material, direct-reduced iron (DRI), dropping by 1,200 rupees per tonne.The slide in billet prices through the week was driven by sluggish demand and fewer inquiries from buyers.The price of steel billet, domestic, exw India, assessed by Fastmar...Read More
Strict real estate regulations issued by China's central and local governments have slowed down growth in the country's housing market in the first seven months of 2021.Participants expect these policies to continue to have a strong effect on the market for the remainder the year, which would slow down growth for rebar demand.Three red linesThe People's Bank of China and the Ministry of Housing &...Read More
Premiums in Europe and the United States continue to push higher, with market participants starting to negotiate contracts for 2022 supply.EuropeFastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,220-1,270 per tonne on Friday August 27, up from $1,200-1,250 per tonne a week earlier and from $1,190-1,240 at the beginning of the month.Fastmarkets'...Read More