Most iron ore prices increased on Monday August 16 despite limited trading activity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $163.52 per tonne, up $1.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $164.03 per tonne, up $1.29 per tonne58% Fe fines high-grade premium, cfr Qingdao: $131.47 per tonne, up $0.81 per tonne65% Fe Brazil-o...Read More
China's domestic coking coal prices continued higher in the week to August 16 due to a supply shortage, which buoyed seaborne coking coal prices in the cfr China market on Monday August 16.The fob Australia market held largely steady on the first working day of the weekFastmarkets indicesPremium hard coking coal, cfr Jingtang: $350.66 per tonne, up $5.66 per tonneHard coking coal, cfr Jingtang: $3...Read More
Turkish steel producers started the week with a single deep-sea cargo, which further deepened the decrease in prices, market participants told Fastmarkets on Monday August 16.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 18,500 tonnes of HMS 1&2 (80:20) at $455 per tonne, along with 5,000 tonnes of shredded and 1,500 tonnes of bonus at $470 per tonne cfr.The previous cargo...Read More
China's Covid-19 measures are causing chokepoints in the country's ferrous supply chain, raising logistical costs for both traders and steel mills.China's National Health Commission reported 51 new cases of Covid-19 on Monday August 16 - 38 imported cases and 13 locally transmitted ones. Six of the locally transmitted cases were in Jiangsu province, while six were detected in Henan. While the numb...Read More
German steelmakers settled their monthly steel scrap contracts for August at lower prices, following the trend in international markets, sources told Fastmarkets.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of the material both from automotive producers and from flat steel service centres.Stoppages and reduced production rates in...Read More
Manganese flake prices hit record highs in Europe and the United States in the week ended Friday August 13, amid short supply, talk of further production cuts and persistent delays in transportation from China.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 5.6% to $5,050-5,250 per tonne on August 13, up from $4,750-5,000 per tonne in the...Read More
Apparent steel use in the European Union will increase by 11.2% year on year in 2021, the European steel association Eurofer said in the week to Monday August 16.The association has downgraded the outlook slightly compared to figures publishedin May 2021.In its previous outlook, Eurofer expected the EU's apparent steel consumption toincrease by 11.7% year on year in 2021.The association also...Read More
China's Covid-19 measures are causing chokepoints in the country's ferrous supply chain, raising logistical costs for both traders and steel mills.China's National Health Commission reported 51 new cases of Covid-19 on Monday August 16 - 38 imported cases and 13 locally transmitted ones. Six of the locally transmitted cases were in Jiangsu province, while six were detected in Henan. While the numb...Read More
Prices on the London Metal Exchange were mixed at the close on Monday August 16, with only tin making a solid advance, while the rest of the metals were either down or around their Friday levels. Tin's three-month price was up to $35,680 per tonne on Monday, up 1% from last Friday's closing price of $35,680 per tonne. It reached its latest all-time high of $35,955 per tonne on Thursday of last wee...Read More
Eastern China's domestic rebar price decreased slightly on Monday August 16 after the National Bureau of Statistics (NBS) released housing industry data for July.DomesticEastern China (Shanghai): 5,190-5,220 yuan ($801-806) per tonne, down by 10 yuan per tonneThe total area used for new housing construction totaled 1.19 billion square meters in January to July, down by 0.9% year on year, while the...Read More
Eastern China's domestic rebar price decreased slightly on Monday August 16 after the National Bureau of Statistics (NBS) released housing industry data for July.DomesticEastern China (Shanghai): 5,190-5,220 yuan ($801-806) per tonne, down by 10 yuan per tonneThe total area used for new housing construction totaled 1.19 billion square meters in January to July, down by 0.9% year on year, while the...Read More
Here are five Fastmarkets stories you might have missed on Monday August 16 that are worth another look.Apparent steel use in the European Union will increase by 11.2% year on year in 2021, the European steel association Eurofer said in the week to August 16.A lack of available containers for shipments out...Read More
Prices of flat steel coil products in the Brazilian spot market remained stable in August, with distributors finding it difficult to compete with a strong influx of imported material.High volumes of coil material arrived through July and continued into August, all booked at lower prices several months ago.Imports of flat steel reached 190,854 tonnes in July 2021, up by 141% from the 79,186 tonnes...Read More
Rebar and wire rod export prices from the Commonwealth of Independent States continued to decrease in the week ended Monday August 16, pressured by the downward trend in the Turkish market that was spurred by a lack of demand and lower costs for imported scrap.Scrap prices in Turkey declined at the beginning of this week due to the latest transaction.Thus, Fastmarkets' index for steel scrap,...Read More
Fastmarkets proposes to increase the frequency of its China import steel billet price from once to twice each week because of continued price volatility in the market.Fastmarkets' price assessment for steel billet, import, cfr China has been subject to constant fluctuations and high liquidity since the price was launched in February 2021.Key factors affecting the Chinese import billet price h...Read More
Export prices for steel billet from the Black Sea basin have continued to decrease in mid-August amid limited demand in most outlet markets and lower costs for scrap raw material globally.Customers from Europe were mainly out of the market due to the holiday season in that region, while Turkish buyers were not willing to pay more than $650 per tonne cfr (equivalent to $620 per tonne fob) due to th...Read More
Domestic hot-rolled coil prices were stable across Europe on Monday August 16, reflecting typically quiet market conditions over the summer, sources told Fastmarkets.Most of the region's buyers and producers have been holding back from trading during August; activity is not expected to pick up until early September, as is traditional.Fastmarkets calculated its steel hot-rolled coil index, domestic...Read More
Key participants in India's steel and scrap sectors welcomed the launch of the National Automobile Scrappage Policy at an investor summit held by Prime Minister Narendra Modi, with private companies signing Memoranda of Understanding (MoUs) to set up vehicle scrapping facilities, Fastmarkets has heard.The investor summit was held in Gujarat on August 13, and was addressed by Modi via video confere...Read More
Here are five Fastmarkets stories you might have missed on Monday August 16 that are worth another look.Apparent steel use in the European Union will increase by 11.2% year on year in 2021, the European steel association Eurofer said in the week to August 16.A lack of available containers for shipments out...Read More
Here are five Fastmarkets stories you might have missed on Monday August 16 that are worth another look.Apparent steel use in the European Union will increase by 11.2% year on year in 2021, the European steel association Eurofer said in the week to August 16.A lack of available containers for shipments out...Read More