The price of austenitic stainless steel scrap remained steady in the week to Friday July 16 ahead of the summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 316 solids domestic, delivered merchants UK was ?1,700-1,800 ($2,352- 2,491) per tonne on July 16, unchanged week on week.In the UK and in Europe, there is a summer slowdown in July and Aug...Read More
China's domestic rebar prices halted its upward trend on Friday July 16 due to market participants' concern of price supervision from government offices.Domestic Eastern China (Shanghai): 5,200-5,240 yuan ($804-811) per tonne, unchangedNorthern China (Beijing): 5,070-5,120 yuan per tonne, up by 120-130 yuan per tonneEastern rebar prices were 180-190 yuan per tonne higher than on July 9, mainly due...Read More
Flat-rolled steel import prices increased in South America during the week ended Friday July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin, market participants told Fastmarkets."Freight from China... was heard to be still rising. This is creating big headaches for traders," a mill source said.A vessel shortage and less b...Read More
There was little interest in imported scrap in the Vietnam market during the week to Friday July 16 due to the Covid-19 pandemic causing an almost complete shutdown of the local long steel and scrap markets, sources said.Offers for bulk Japanese H2 were mostly at $490-500 per tonne cfr Vietnam, with one offer at $505 per tonne cfr Vietnam, sources told Fastmarkets."There's not much interest in pur...Read More
Brazilian slab export prices were unchanged on Friday July 16, with most producers in a wait-and-see mode amid high prices for flat steel in the United States and falling slab prices in other regions.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil was $975-995 per tonne on July 16, stable from the previous week.Slab sellers were optimistic about the US market, sinc...Read More
Italian domestic steel scrap prices increased in the month to Friday July 16 on support from short supply of the material, particularly of "new scrap" grades, sources told Fastmarkets.Supplies of new scrap, including E8-grade, were short due to low automotive production caused by a shortage of computer chips used in cars, sources said. Car manufacturers are the main suppliers of E8-grade scrap mat...Read More
Export prices for pig iron from the Commonwealth of Independent States fell over the week to Thursday July 15 because buyers had restocked earlier and were in no hurry to make new purchases.Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $600-620 per tonne on Thursday July 15, down from $610-630 per tonne a week before.Pig iron offers from Russia...Read More
Mining and metals producer Assmang has declared force majeure on its medium-carbon ferro-manganese production in South Africa, a source told Fastmarkets on Friday July 16.Assmang produces refined ferro-manganese at its Cato Ridge Alloys plant in the eastern province of KwaZulu-Natal and informed its customers about the force majeure on production earlier this week.The force majeure declaration was...Read More
The Turkish steel mills continued to limit their deep-sea scrap bookings 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 markets in VietnamDomestic supply ti...Read More
Several steelmakers in China stopped issuing export offers this week, while others sharply increased their offer prices to overseas buyers, suggesting that the Chinese government's desire to see production cuts is starting to have an impact.Steel mills, including Shandong Iron & Steel and Yingkou Medium Plate Co, have issued no export offers this week, with limited availability forcing them to pri...Read More
Several steelmakers in China stopped issuing export offers this week, while others sharply increased their offer prices to overseas buyers, suggesting that the Chinese government's desire to see production cuts is starting to have an impact.Steel mills, including Shandong Iron & Steel and Yingkou Medium Plate Co, have issued no export offers this week, with limited availability forcing them to pri...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
Lithium prices in Asia were broadly firm in the week ended Thursday July 15, with technical-grade lithium carbonate outperforming other grades amid good restocking appetite among traders.Lithium prices in the domestic Chinese market were broadly steady, with technical-grade lithium carbonate prices continuing to rise.Battery-grade lithium prices in the seaborne Asian market were also stable amid t...Read More
Tin's three-month price reached a new all-time peak on the London Metal Exchange on Friday July 16, with supply concerns from Southeast Asia - due to the spread of the delta variant of Covid-19 - also supporting most prices.Tin's benchmark futures price has jumped by 63% since the start of the year, when the metal was priced $20,735 per tonne. It closed at $33,600 per tonne on Friday, a 1.4% gain...Read More
The Turkish steel mills continued to limit their deep-sea scrap bookings 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 markets in VietnamDomestic supply ti...Read More
The polish steel rebar market was seasonally quiet in the week to July 16, although prices were stable due to good order books at mills, high construction demand and shortages, sources told Fastmarkets.Local market sources reported quiet trading activity over the past seven days, mainly due to the seasonal slowdown."The market is entering summer lull, everything is very quiet, everyone who wanted...Read More
The steel wire rod market in Poland was flat in the week to Friday July 16 with local producers sold out for July and holding back from August rolling offers, source told Fastmarkets.Several sources suggested that Polish producers may attempt to push for ?,?20-50 ($24-59) per tonne price increases for August rolling offers due to increased scrap costs, but the summer slowdown and high current pric...Read More
Prices in the Turkish flat steel market reduced over the week to Friday July 16 due to lower demand prior to the long holiday period, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $1,050-1,070 per tonne on July 16, down from $1,060-1,100 per tonne the previous week.HRC offers were mostly heard at $1,050 per tonne ex...Read More
Hot-rolled coil in the India's domestic market continues to sell at discount of 3,000-3,500 ($40-47) rupees per tonne compared with mill pricing.Domestic HRC producers' prices, however, were stable this past week despite the price undercutting.Fastmarkets assessed steel HRC, domestic ex-warehouse India at 67,000-68,500 rupees per tonne on Friday July 16, unchanged from the previous week....Read More
Production at Koniambo Nickel SAS (KNS) in New Caledonia has been disrupted by protesters, a Glencore spokesperson confirmed to Fastmarkets.Le Figaro newspaper had reported the disruption on Thursday July 15, citing a statement issued by KNS owners Glencore and Soci?(C)t?(C) Mini??re du Sud Pacifique SA (SMSP).The site was placed "on standby," with production...Read More