Global scrap prices in the key markets diverged in the week to Friday June 18, with those in Asia moving upward, while Turkish scrap prices fell amid slow buying driven by uncertainty over finished steel sales.Turkish buyers had to pay a premium for US-origin shredded scrapUS export market reported new sales to TurkeySolid demand in Vietnam resulted in higher pricesChina reported stability in impo...Read More
An overview of the aerospace materials markets and the latest price moves.Cristina Belda in London; Jessica...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
The market for pig iron exports from Brazil was quiet during the week to Friday June 18 on long lead times, sources said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, stable week on week.Suppliers from the south of Brazil were inactive in the market, but their price idea was indicated at $620-625 per...Read More
A shortage of shredded scrap is squeezing major supplier markets and pushing up the prices of key grades in the world's export markets, sources told Fastmarkets this week.Lower inflows to scrapyards and stronger demand for key grades in the major supplier nations have made it much harder for overseas consumers to secure shredded scrap over the past month.The lack of available shredded scrap, combi...Read More
Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.The more hawkish stance from the United States Federal Reserve on Wednesday lifted the dollar but has weighed on sentiment......as has China's decision to release state reserves of copper, aluminium...Read More
The price range for inter-merchant light iron scrap in the United Kingdom hit an 11-year high on June 18 with suppliers increasing their offer prices in the domestic market due to relatively tight supplies and firm demand from major scrap processors, sources told Fastmarkets.Light iron scrap prices were up by ?5-10 ($ 6.98-13.95) per tonne in the week to June 18 as processors looked to secure fee...Read More
Prices for shredded steel scrap imported into India and Pakistan have risen on active purchasing that tailed off toward the end of the week, sources told Fastmarkets on Friday June 18.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $533.93 per tonne on June 18, up from $516.47 per tonne on June 11.Offers heard this week were in the range of $520-540 per tonne cfr, whi...Read More
The United States' pig iron import prices softened during the week to Friday June 18, with buyers having predominantly restocked while material for near-term shipment remained available in the market. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $650-665 per tonne on Friday, down by 2.16% from $672 per tonne a week earlier."We have bought enough and do not nee...Read More
The October rebar futures contract at the Shanghai Futures Exchange rose in the morning and dropped in the afternoon of Friday June 18 due to conflicting trends in the rebar market.Domestic Eastern China (Shanghai): 4,970-5,000 yuan ($771-776) per tonne, up by 50-60 yuan per tonne. Northern China (Beijing): 4,930-4,970 yuan per tonne, down by 140-150 yuan per tonne The National Developmen...Read More
Iron ore prices went down slightly on Friday June 18 on news of state monitoring of the commodities markets, new operational restrictions in Tangshan and market rumors about capacity reductions.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.90 per tonne, down by $1.92 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.24 per tonne, down by $1.77 per tonne58% Fe fines high-grade prem...Read More
China has started cautioning state-owned enterprises (SOEs) regarding overdependence on imported commodities and overexposure in commodity-based financial derivatives, market sources told Fastmarkets this week.In the past few days, there had been rampant market chatter the country's State-owned Assets Supervision & Administration Commission (Sasac) asking SOEs to report their positions in commodit...Read More
Import prices in Vietnam rose during the week to Friday June 18 despite weak demand from end users, sources told Fastmarkets. Higher offers forJapanese bulk cargoes after the recent Kanto Tetsugen auction supported higherimport prices, sources said. A transaction for a bulk Japanese H2 was concludedat $500 per tonne cfr Vietnam in the week to June 18, against offersat $500-510 per t...Read More
Turkish steel mills ended the working week in silence on Friday June 18, having not booked any deep-sea scrap cargoes since Tuesday.Just two cargoes were heard booked during this week, leading to a decline in the indices. The two United States cargoes were heard on Tuesday. A mill in the Marmara region bought the two US cargoes...Read More
All base metals prices on the London Metal Exchange were lower on Friday June 18 than at the start of the week, by an average of 5.6%, brought down by a mixture of macroeconomic factors that have stifled the complex's recent bullish run.The decline across the complex to Friday was led by copper's fall on the LME, down by 8.3% on Friday to $9,135 per tonne from Monday's closing price of $9,971.50 p...Read More
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An overview of the specialty steel raw materials markets in Europe and their latest price moves.Fleur Ritzema, Davide Ghilloti...Read More
Key data from Fastmarkets' pricing sessions in China, the United States and Europe.China The impact of Inner Mongolia's move to raise electricity rates has continued to provide support for the current high prices, with suppliers offers broadly unchanged. Relatively tight availability due to a lack of stocks along with production cuts resulting from Ningxia's mission to conserve energy, reduce...Read More
Copper concentrate treatment and refining charges (TC/RCs) rose during the week to Friday June 18, with smelters buying cargoes at higher levels and traders also assessing material from miners at TCs in the $30s.Chinese smelters bought several cargoes in the high $30s per tonne/3 cents per lb this week, picking up units for the third quarter....Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More