Prices for shredded steel scrap imports into Pakistan were broadly stable during the week to Friday July 16, while Indian prices fell further, sources told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $547.80 per tonne on Friday, compared with $547.34 per tonne a week ago.Pakistan market participants reported deals at $550 per tonn...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
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
Activity in the EU hot-rolled coil market has been limited on Friday July 16 due to buyers and sellers both being in wait-and-see mode, sources told Fastmarkets.Buyers have been holding back from acquiring material due to a seasonal slowdown and uncertainty about the price trend. Domestic prices have remained high despite a slight correction lower while buyers, who have sufficient stocks for...Read More
Hot-rolled coil prices across China's domestic market edged lower on Friday July 16, while futures prices dropped to a one-week low following Beijing's fresh pledge to ensure stable supply and prices for commodities.DomesticEastern China (Shanghai): 5,860-5,900 yuan ($906-913) per tonne, narrowing downward by 20 yuan per tonneNorthern China (Tangshan): 5,710-5,720 yuan per tonne, up by 100-210 yua...Read More
Seaborne coking coal prices were firm in the cfr market on Friday July 16 despite quiet trading. Offers for September loaded cargoes rose but the fob coking coal market also remained stable, sources said.Prices for seaborne pulverized coal injection (PCI) inched up in the cfr market in the week to July 16 due to tight supply for high quality resources from Russia. The fob market continued to incre...Read More
Iron ore prices mostly edged downward on Friday July 16 under the influence of increasing inventory at China's ports despite reduced shipments.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.43 per tonne, down by $0.66 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.39 per tonne, down by $0.36 per tonne58% Fe fines high-grade premium, cfr Qingdao: $181.57 per tonne, down by $0.49...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses showed varying changes in the week to Friday July 16, with the biggest decrease being in copper while lead showed the highest increase in percentage terms.Copper stocks totalled 113,593 tonnes this week, down by 15,876 tonnes (12.3%) from 129,469 tonnes the week before.The largest outflow was from the 830 GuangDon...Read More
Ukraine's ArcelorMittal Kryvyi Rih has begun modernization of its blast furnace (BF) No9. The BF has a current capacity of 3.7 million tonnes per year of hot metal but the reconstruction will increase capacity by 35.7%, to 4.5 million tpy, sources told Fastmarkets.The BF modernization aims to optimize raw materials consumption.The works should be finalized by the end of 2023. Total investment in t...Read More
Turkish steel mills were quiet at the end of the week due to the public holidays being observed in the country, market sources told Fastmarkets on Friday July 16.Turkish market participants were not working on Thursday July 15 because the country was celebrating its Democracy and National Unity Day.The Islamic Eid al-Adha holiday will be observed during the coming working week, so trade is expecte...Read More
Some Chinese mills are seeking alternative scrap import suppliers because of expensive offers for Japanese heavy scrap (HS), sources said on Friday July 16.Bids were heard at $535 per tonne cfr northern China on July 16, which would be equivalent to $525 per tonne cfr eastern China, and no new offers were heard on July 16. Prior to that, the latest to come in was on July 14 at $580-590 per tonne c...Read More
The inter-merchant light iron scrap market in the United Kingdom was up ?5 ($6.92) per tonne in the week to Friday July 16 amid firm fundamentals, with some sources suggesting the market may consolidate higher in the near term while others say a correction may be likely due to the steel summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old li...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
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...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
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
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
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