Prices for shredded steel scrap imports into Pakistan and India were stable on Friday July 23 due to slow trading and public holidays, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $546.46 per tonne on Friday, down by $1.34 from $547.80 per tonne one week prior.Many market participants were off work due to the w...Read More
Long steel producer Badische Stahlwerke has denied that there was a stoppage at its rolling mill in southwest Germany, a source at the company told Fastmarkets on Friday July 23.Heavy floods in Germany have interrupted the supply of steel products and raw materials across the country, with some flat steel producers even declaring force majeure to customers.There were market rumors on Friday indica...Read More
A barrage of import steel billet deals have been concluded with Chinese buyers this week at progressively higher prices, sources told Fastmarkets on Friday July 23.Demand for imported billet has spiked at mills in China amid targets which would push down steel production in the country over the second half of 2021.Chinese steelmakers can use import billet to roll long steel products while simultan...Read More
An overview of the aerospace materials markets and the latest price moves.Jessica Long, Ruby Liu and...Read More
Indian domestic prices for secondary steel billet rose by about $13 per tonne during the week to Friday July 23 on stronger demand for finished products, particularly rebar, sources said.Fastmarkets assessed steel billet domestic, ex-works India at 42,200-42,400 rupees ($567-570) per tonne on Friday, up by 1,000 rupees from 41,200-41,400 rupees per tonne last week. "The billet price recovery is in...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally stronger this morning, Friday July 23, the exception was lead on the LME that was down by 0.5%, but that was after a strong gain on Thursday. Lead, tin and nickel all pushed the boundary on the upside on Thursday with gains of 1.5% or moreEuropean Central Bank projected a dovish outlook on monetary po...Read More
Hot-rolled coil prices in the United States fell below$91 per hundredweight ($1,820 per short ton) on Friday July 23 after three consecutive business days above that threshold. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.80 per cwt ($1,816 per ton), down by 0.51% from $91.27 per cwt on Thursday July 22 and virtually unchanged from $90.75 per cwt one week earli...Read More
Spot copper concentrate processing charge rose to its highest level since June last year, with the market firming up levels after a month of volatility.Smelter deals concluded for clean spot concentrates at low-to-mid $50s, including shipment diverted as a result of a smelter outage in Yantai. Major smelters...Read More
Key data from Fastmarkets' pricing sessions in the United States, China and Europe for the week ended Friday July 23.China The in-warehouse China ferro-silicon price went up following the news that a major producer in Inner Mongolia will issue a production cut due to the electricity controls in summer; in addition, Ningxia will start a series of electricity controls to limit production. Spot avail...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...Read More
Prices for containerized ferrous scrap in the Taiwan import market continuedto fall during the week to Friday July 23 due to a resurgence of Covid-19 cases in many parts of Asia causing more lockdowns, sources told Fastmarkets.Fastmarkets' daily price assessment for containerized steel scrap, heavy melting scrap 1&2 (80:20), United States material import, cfr main port Taiwan was $450 per tonne on...Read More
European steelmakers are returning to the bulk alloys markets for quarterly deliveries to be shipped between October and December due to persistent supply tightness, shipping delays and container shortages and strong steel production and prices, sources told Fastmarkets.It had appeared that steelmakers were satisfied with their current quarterly intake of ferro-alloys and would typically return fo...Read More
Italian steel re-roller Marcegaglia has been short-listed for the purchase of Italian stainless steelmaker Acciai Speciali Terni (AST), which is owned by German steelmaker Thyssenkrupp."We are really interested [in purchasing AST]. There has been the due diligence; we visited the plant this week. August will be the time for negotiations... [at the start of] September probably there will be some in...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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....Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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.Read More
Iron ore prices edged down on Friday July 23 amid weaker demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $201.33 per tonne, down by $1.30 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.86 per tonne, down by $1.76 per tonne58% Fe fines high-grade premium, cfr Qingdao: $165.45 per tonne, down by $1.43 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $236.10 per tonne, down by $3...Read More
The Turkish steel mills continued to limit their deep-sea scrap bookings in the week ended Friday July 16 due to weak finished steel sales, while the downturn in the country had a knock-on effect on prices in the global markets.Turkish mills restrict deep-sea purchases to put downward pressure on pricesSummer slowdown hits US export marketCovid-19 pandemic shuts down local long steel and scrap mar...Read More
Base metals prices were up across the board at the 5pm close of trading on the London Metal Exchange on Thursday July 22, with the market appearing to calm down after a recent period of choppy trading."Two positive macro dynamics were at work this morning, and have provided the LME base metals with much-needed support," Fastmarkets analyst Andy Farida said on Thursday."The US Dollar Index has star...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More