Domestic steel rebar prices in Poland were broadly flat in the week to Friday July 9, with market activity slowing down on seasonal factors, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 4,050-4,100 zloty ($1,054-1,067) per tonne on Friday, the same as last week.The assessment was based on deals, offers and achievable prices rep...Read More
Activity in the market for pig iron exports from Brazil was at a standstill in the week to Friday July 9, but local demand for such material was strong, sources have told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620-625 per tonne on Friday, stable week on week.Suppliers in the south of Brazil were heard to be inactive as regards...Read More
Sandfire Resources' Motheo copper mine in Botswana will come online in 2023, the mid-tier copper and gold miner said this week, after acquiring a mining license for the project. The construction of the Motheo copper mine will accelerate in the coming months and should deliver 30,000 tonnes of copper and 1.2 million ounces of silver for the first 12-and-a-half years of mine life, the Canada-listed...Read More
Domestic prices for hot-rolled coil in Europe were relatively stable on Friday July 9 due to slow buying activity, sources told Fastmarkets.Market sources believed that the price fluctuations during the week have not been indicative of a trend change, but mainly reflected the uncertainty among buyers in the market with a limited number of offers.Buyers have been holding back from making new deals...Read More
Global scrap prices broadly fell over the week to Friday July 9. Spot demand in Asia remained weak, with buyers looking at lower Turkish steel scrap prices for indications of better buying opportunities in the future.Turkey resumes deep-sea importsPrime grades perform best in USVietnam demand soft but billet demand could offer hopeChinese price uptrend capped by production cutsTaiwan continues to...Read More
The inter-merchant light iron scrap market in the United Kingdom was unchanged this week although increased demand could result in small price rises in the coming weeks, participants told Fastmarkets on Friday July 9.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?175-190 ($241-262) per tonne on Friday, unchanged since June 18...Read More
Prices for shredded steel scrap imports into Pakistan increased in the week to Friday July 9, supported by higher trading activity compared with India, sources have told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $547.34 per tonne on July 9, up by $7.83 per tonne from $539.51 per tonne on July 2.Deals for the material have been...Read More
Turkish steel mills ended the week with six deep-sea cargo deals, which were booked for immediate requirements, market participants told Fastmarkets on Friday July 9.A steel mill in the Iskenderun region booked a United States cargo on July 8 comprising heavy melting scrap 1&2 (90:10) at $498 per tonne, shredded and plate & structural (P&S) at $516.A steel mill in the Izmir region also booked a ca...Read More
Domestic prices for hot-rolled coil in Europe were relatively stable on Friday July 9 due to slow buying activity, sources told Fastmarkets.Market sources believed that the price fluctuations during the week have not been indicative of a trend change, but mainly reflected the uncertainty among buyers in the market with a limited number of offers.Buyers have been holding back from making new deals...Read More
Base metals prices on the London Metal Exchange increased across the board during morning trading on Friday July 9.The three-month aluminium price was most recently trading at $2,465 per tonne, up $23 from Thursday's close. It has retreated from a high of $2,581.50 per tonne on Monday.Stock availability continues to fall, with a further 10,525 tonnes of aluminium delivered out across multiple diff...Read More
Spot copper concentrate treatment/refining charges (TC/RC) continued to rise for the fourth week in a row on the improving availability of the copper raw material.Fastmarkets copper concentrate TC/RC index was calculated at $42.4 per tonne/4.24 cents per lb for the week to Friday July 9, its first foray above the $40/4 cents mark since late...Read More
Treatment charges (TCs) for zinc concentrates have risen over the past two weeks, with smelters sitting on better inventories and a flurry of mine tenders indicating rising supply, Fastmarkets heard on Friday July 9.TCs becoming firmer, but slower than market expectedSeveral tenders issued by miners in recent weeks, well bid by the tradeSome smelters see TCs at $100 per tonne as a peak for this ye...Read More
Hot-rolled coil prices in the United States fell for a second day after breaching $90 per hundredweight ($1,800 per short ton) for the first time, with scarce spot availability projected to extend the rally, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.06 per hundredweight ($1,781.20 per short ton) on Friday July 9, down 0.46% from $89....Read More
Activity in the Turkish flat steel market weakened further during the week to Friday July 9, ahead of the public holidays that start in the country on July 15.July 15 is Democracy Day in Turkey, and the Ei al-Adha holidays will take place from July 19-24.Uncertainty on prices also contributed to weak buying activity in Turkey. Hot-rolled coil prices increased during the week in China, while prices...Read More
London Metal Exchange base metal futures barring tin traded higher on Friday July 9 after the market responded to news that China's central bank will boost liquidity to small and medium sized businesses.The People's Bank of China said it would reduce the Reserve Requirement Ratio (RRR), the amount of cash banks have to hold in reserve, by 0.5%, equivalent to the release of a trillion yuan ($154 bi...Read More
Indian mills reduced the export prices of hot rolled coils by $50-70 per tonne to sell higher tonnages in the international market as domestic demand for HRC remains sluggish, sources told Fastmarkets.According to a market participant, Indian mills aim to keep supply tight in the domestic market, so they have to move higher tonnages of HRC out of the country at low prices. Fastmarkets' assessment...Read More
Bullish sentiment in the aluminium supply chain fueled increases in premium foundry alloy (PFA) premiums in Europe in the week ended Friday July 9. The PFA premium in the US was flat once again.EuropeSoaring premiums for P1020 aluminium, expensive logistics and solid demand pushed the premiums for primary foundry alloy (PFA) in Europe to new all-time highs this week.Fastmarkets' assessment of the...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices remained stable in Turkey during the week to Friday July 9 due to upcoming holidays, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-23 will be the Eid al-Adha holidays so buyers preferred to postpone bookings.Domestic pricesFastmarkets' weekly price assessment for steel HDG coil domestic, exw Turkey was unchanged...Read More
Prices in the CIS export billet market improved some more by the end of the week. Offers were mainly coming from Ukrainian mills, while Russian producers preferred to stay away from the market assessing the situation with export duty introduction in August.The duties will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate of $115 per tonne for stee...Read More
Domestic steel rebar prices in Poland were broadly flat in the week to Friday July 9, with market activity slowing down on seasonal factors, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 4,050-4,100 zloty ($1,054-1,067) per tonne on Friday, the same as last week.The assessment was based on deals, offers and achievable prices rep...Read More