Eastern China rebar prices rose on Friday August 20 due to restocking demand ahead of the weekend, but a drop earlier in the week means that prices are down by 120 yuan ($18) per tonne week on week.DomesticEastern China (Shanghai): 5,080-5,110 yuan per tonne, up by 70 yuan per tonneNorthern China (Beijing) weekly assessment: 5,010-5,050 yuan per tonne, down by 160 yuan per tonneBuyers raised procu...Read More
Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken at the end of the week to Friday August 20, market participants told Fastmarkets. A steel mill in the Iskenderun region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredded at $470 per tonne cfr. ...Read More
Coated steel coil prices decreased in Turkey during the week to Friday August 20 because of low levels of demand, sources have told Fastmarkets.Buyers wanted to see which direction global prices would move before placing orders, they said.Many export market participants were on holiday, so demand for exports was low during the week.Domestic pricesFastmarkets' weekly price assessment for steel hot-...Read More
The light iron scrap market in the United Kingdom was stable over the week to Friday August 20 while scrap processors held their offer prices to ensure a steady flow of material into their yards, sources told Fastmarkets.UK export prices were also relatively stable despite quieter trade due to the seasonal slowdown, cementing support for domestic British prices. The export market accounts for more...Read More
Eastern China rebar prices rose on Friday August 20 due to restocking demand ahead of the weekend, but a drop earlier in the week means that prices are down by 120 yuan ($18) per tonne week on week.DomesticEastern China (Shanghai): 5,080-5,110 yuan per tonne, up by 70 yuan per tonneNorthern China (Beijing) weekly assessment: 5,010-5,050 yuan per tonne, down by 160 yuan per tonneBuyers raised procu...Read More
Brazil's pig iron export market was calm but prices weakened during the week to Friday August 20 due to low demand.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $510-520 per tonne on Friday, down from $540-545 per tonne a week earlier."[The] market is very slow now because demand is almost non-existent, buyers are very cautious...Read More
Global aluminium prices and premiums have been on a near-vertical uptrend, touching record highs along the way, with consumers of aluminium in various sectors finding ways to absorb and pass on the increasing costs.Managing high raw material costs has become a key theme in quarterly earnings reports and in conference calls for manufacturing companies throughout the summer months of 2021. Despite h...Read More
A large drop in Chinese import steel billet bid prices has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in free-fall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightl...Read More
Some secondary alloy prices in the United States rose to all-time highs again on Thursday August 19, though the benchmark A380.1 price held steady.This resulted from continued tight supply and despite what some said was lackluster summer demand. "Volume is still suspect, but copper and silicon are still very high," one trader said of the continuing cost push for alloy prices. "On the other hand, p...Read More
Short-covering activity helped some base metals prices on the LME end the week on a higher note at the end of trading on Friday August 20, but it was not enough to offset the losses seen after Thursday's sell-off.Copper's three-month price was $9,037 per tonne at 5pm on Friday, up 1.6% on Thursday's $8,894 per tonne, with the 200 daily moving average (DMA) acting as key support at $8,843 per...Read More
Prices of imported scrap in Turkey continued to weaken amid limited finished steel trade in the week to August 20, while buyers in Asia resisted higher offers. Turkish steel mills book more scrap for September shipments at decreasing prices The United States scrap export market reports further price decrease with a fresh cargo sale to Turkey Buyers in Vietnam resist higher offers for bulk cargoes...Read More
Iron ore prices rebounded on Friday August 20 from losses the day before, although demand from Chinese mills showed no sign of picking up and market participants remained cautious.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $140.44 per tonne, up by $7.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $141.15 per tonne, up by $7.85 per tonne58% Fe fines high-grade premium, cfr Qingdao:...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 20.Susan Zou, Yingchi Yang and...Read More
A large drop in Chinese import steel billet bid prices has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in free-fall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightl...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
Global aluminium prices and premiums have been on a near-vertical uptrend, touching record highs along the way, with consumers of aluminium in various sectors finding ways to absorb and pass on the increasing costs.Managing high raw material costs has become a key theme in quarterly earnings reports and in conference calls for manufacturing companies throughout the summer months of 2021. Despite h...Read More
A reduction in South Korean bid prices for steel scrap on Friday August 20 has further lowered sentiment in the Japan steel scrap export market, sources have told Fastmarkets.Some Japanese suppliers accept lower bid prices from South KoreaChinese mills reduce local scrap buy prices againExpensive Japan-origin offers persist in cfr China market.South KoreaA major steelmaker in South Korea announced...Read More
Toyota is to suspend automotive production for between two days and just over a month at 27 of its 28 production lines in Japan in August and September.The suspensions were due to "parts shortages resulting from the spread of Covid-19 in southeast Asia," the company said on Thursday August 19.The main Toyota Motor Corp production facilities affected include Motomachi, Takaoka, Tsusumi, Tahara...Read More
A combination of low liquidity, supply constraints that were said to be easing, and a rushed exit from long positions took the three-month price of tin on the London Metal Exchange down by 11% on Thursday August 19, despite its recent and seemingly unstoppable rise. Where will it go from here?Prior to the fall on Thursday, tin's benchmark futures price had reached an all-time high of $35,955 per t...Read More
Seaborne coking coal prices maintained their upward trend in the cfr China market following a strong domestic coking coal market and prices inched higher in the fob market on Friday August 20 amid necessary restocking demand.Prices for seaborne pulverized coal injection (PCI) increased in both the cfr China and fob Australia markets in the week to August 20 due to supply tightness in both markets,...Read More