Hot-rolled coil prices in the United States topped $93 per hundredweight ($1,800 per short ton) for a third consecutive day, with the rally expected to reach new highs in coming weeks, market participants said. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $93.70 per cwt ($1,874 per ton) on Friday July 30, down by 0.35% from $94.03 per cwt on Thursday July 29, but u...Read More
Iron ore prices drop drastically on Friday July 30 with market sentiment depressed by worsening demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $181.57 per tonne, down by $14.49 per tonne62% Fe low-alumina fines, cfr Qingdao: $182.80 per tonne, down by $14.66 per tonne58% Fe fines high-grade premium, cfr Qingdao: $146.61 per tonne, down by $14.26 per tonne65% Fe Brazil-origin fines,...Read More
Sudbury, a Vale SA mine in Canada where workers have been striking since June 1, has had "a very large impact" on the Brazilian miner's operations, the company's chief executive officer told analysts on July 29."Even if we quickly resolve the strike, we will still have many weeks until we normalize," CEO Eduardo De Salles Bartolomeo said, without directly answering a question on how long the strik...Read More
Fastmarkets' copper concentrates index jumped this week with both smelters and traders locking higher numbers for spot cargoes.Fastmarkets' assessment of the copper concentrates treatment charge/ refining charge index cif Asia Pacific has risen to its highest level since late April 2020, at $53.2 per tonne on July 30.Smelters bought spot cargoes in the mid-to-high...Read More
Domestic prices for rebar in Poland were stable in week to Friday July 30 amid the seasonal slowdown, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 4,000-4,150 zloty ($1,036-1,075) per tonne on Friday, unchanged week on...Read More
The prices of shredded steel scrap imports into Pakistan and India weakened on Friday July 30 following a drop in Turkish scrap prices, sources told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $544.77 per tonne on Friday, down from $546.46 per tonne a week earlier.Deals were reported at $543-545 per tonne this week, down from deal...Read More
Turkish steel mills continued to book deep-sea scrap cargoes at a slow pace on Friday July 30, sources told Fastmarkets.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $465 per tonne, 15,000 tonnes of shredded and 5,000 tonnes of a mixture of HMS 1 and plate and structural (P&S) at $480 per tonne cfr....Read More
Chinese aluminium producer Yunnan Shenhuo will cut its output by 50,000 tonnes because of the latest round of power restrictions announced by local power supplier Yunnan Power Grid on July 27.The reduction in output was announced on the Shenzhen Stock Exchange website on Friday July 30, in a notice from the producer's parent company, Shenhuo Group, an aluminium and aluminium products fabricator li...Read More
Domestic and imported steel beam prices rose in the United States on Thursday July 29 after remaining flat the prior month.Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $63 per hundredweight ($1,260 per short ton) on July 29, up by 5% from $60 per per cwt in May and June and up by 20% from $52.50 per cwt on April 29.Fastmarkets' assessment for steel beams medium se...Read More
Prices for cold-rolled and galvanized steel sheet in the United States surged to record highs - capping an unprecedented 12 months of gains - with market participants watching the timing of automotive production resumptions for clues as to availability for the remainder of 2021.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US achieved a new all-time high of $103.50 per...Read More
A change in China's tax rebates for several steel products brought trade to a halt in the South American coil import market, while prices continued to rise.China's announcement of a cut in existing tax rebates on several steel products brought an already slow import market to a stop.The cut in rebates will affect flat steel products classified under Harmonized System codes 7209, 7210, 7225, 7226,...Read More
Domestic prices for rebar in Poland were stable in week to Friday July 30 amid the seasonal slowdown, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 4,000-4,150 zloty ($1,036-1,075) per tonne on Friday, unchanged week on...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices were mostly stable in Turkey during the week to Friday July 30, amid moderate demand, sources told Fastmarkets.Most export destinations were in holiday season, when demand for exports typically slows, while local buying continued, producers said.Turkish producers held prices stable because they are fully booked for more than two months a...Read More
Precious metals mining company Sibanye-Stillwater is going to buy the Sandouville nickel hydrometallurgical processing facility from French mining group Eramet SA in a move to build on its strategy to diversify into the battery metals supply chain, the company said.The current Sandouville facilities, located in Normandy, France, include a hydrometallurgical nickel refinery with a capacity of 12,00...Read More
Slab export prices from Brazil dropped sharply, with new offers and bids affected by low-priced material from Russia and Ukraine.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil was $920-930 per tonne on Friday July 30, down from $975-985 per tonne the previous weekMost deals for September shipment to the United States market were closed around...Read More
Negotiations in the United States' pig iron import market became more active during the week ended Friday July 30, although buyers have insisted on much lower prices than suppliers offered.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $620-635 per tonne on Friday, down by 0.79% from $625-640 per tonne a week...Read More
Brazil's pig iron export market declined in the week ended Friday July 30, in line with lower prices globally, sources said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was at $560-570 per tonne on Friday, down by 9.24% from $620-625 per tonne a week earlier."Suppliers have no more time to wait because they have availability...Read More
Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.Aluminium's price was up 5.3% on Friday from a closing price of $2,507.50 per tonne on July 1 and at its highest since April 201...Read More
A surge in raw material prices, principally for direct-reduced iron (DRI), over the week ended Friday July 30 has led to Indian secondary billet prices rising by about 800 rupees ($11) per tonne.Fastmarkets assessed the price of steel billet, domestic, ex-works India, at 43,000-43,200 rupees ($579-582) per tonne on Friday, up by 800 rupees per tonne from last week's assessment at 42,200-42,400 rup...Read More
A summary of Luxemburg-based Nexa Resources' copper, zinc, and lead ore production for the second quarter of 2021, according to results released on Thursday July 29 and a conference call on Friday July 30.In brief Nexa Resources' zinc production jumped by 30.7% year on year. The company cited renewed output from its Peruvian mines, which had been subject to government-mandated restrictions in the...Read More