Brazilian steel producers have accepted a reduction of 10% in import duties, and agreed to avoid raising domestic prices further, according to the country's economy minister, Paulo Guedes.The government has been in talks with representatives of steel producers, the country's construction industry and other end users. They are discussing options to normalize supply of rebar and other steel products...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
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.Fastmarkets assessed Cobalt...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
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 specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Declan...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
The US aluminium billet premium soared on Friday July 16, supplanting the all-time high set in the previous assessment despite limited spot activity while market participants await the impact of the looming Russian export tax set to take effect next month.Fastmarkets assessed the aluminium 6063 extrusion billet premium, delivered Midwest US at 21-25 cents per lb on July 16, up by 6.98% from 20-23...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
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
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
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
Treatment and refining charges (TC/RCs) paid for copper concentrates became noticeably firmer over the past week, with smelters pressing home their negotiating advantage for the few cargoes that traded.Fastmarkets' copper concentrates TC index, cif Asia Pacific, was calculated at $47.40 per tonne/4.74 cents per lb for the week to Friday July 16, up from $42.40...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
An overview of the aerospace materials markets and the latest price moves.Carrie Shi, Jessica Long and Ruby...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
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
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
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