Steel billet suppliers in the Commonwealth of Independent States expect China to resume booking material, albeit at a lower rate than earlier in May, Fastmarkets learned on Friday May 28."It's hard to say, but I think they will resume bookings because no-one cancelled the plan to reduce steel output by the end of the year," one trader said.In northern China's Tangshan city, the country's steelmaki...Read More
Activity in the European hot-rolled coil market has been slow this week while buyers have preferred to hold back from new deals and proved reluctant to accept any further price increases.Buyers - already struggling to open credit lines due to the high prices of flat steel - chose to pause their purchases while monitoring China's coil market.Prices for coil in China have been decreasing over the pa...Read More
Indian domestic secondary billet prices edged up in the week to Friday May 28, even as finished steel prices began to fall.Fastmarkets' price assessment for steel billet domestic, ex-works India was 41,400-41,600 rupees ($565-572) per tonne on Friday, up 300 rupees from last week's 41,100-41,300 rupees per tonne ex-works. "Billet prices have only increased because...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
Nickel's price was up by more than 5% on the London Metal Exchange and tin's was up by 4.3% since the start of the week, with bullish momentum returning to the base-metals complex on Friday May 28 and all metal prices finishing higher than at the start of the week.Prices bounced back following a period of weakness and correction seen at the beginning of the week, after the Chinese government calle...Read More
Ivanhoe Mines - the developer of the Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) - is in talks with that country's government about securing a permit to export concentrate, it said.The talks between Canada-listed Ivanhoe Mines and Kinshasa follow news - broken by Fastmarkets this week - of the DRC introducing a ban on the export of copper...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
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) index rose to above $30/3 cents for the first time since March. Fastmarkets' copper concentrate TC index, cif Asia Pacfic was at $30.10 per tonne/3.01 cents per lb on Friday May 28,its highest level since March 5. Spot activity was limited for the week ended May 28, with smelters looking for $40/4...Read More
Key data from Fastmarkets' pricing sessions in Europe, India, the United States and China on Friday May 28.China The markets for seaborne low- and high-grade manganese ore were quiet oer the week to Friday while buyers awaited a new round of offers from miners in the coming week. Portside low- and high-grade manganese ore prices were little changed, with buyers showing increased appetite for high-...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
Key data from Fastmarkets' pricing sessions in Europe, the United States and China on Friday May 28.China The China ferro-silicon price narrowed downward slightly following a correction of the previous price rally, but the general sentiment remained positive amid Ningxia's production cuts related to the dual control of energy consumption, with suppliers' offers broadly holding firm. The China ferr...Read More
Key data from the pricing session in London on Friday May 28.Key drivers:Some market participants reported that last week's price rise was fueling a larger number of inquiries this week. Others contend that cobalt remains available below the range, causing...Read More
Steel wire rod prices in Poland were largely flat over the past seven days after a massive increase in the previous week, but market sources believed that new price rises were likely because of the shortness of supply, Fastmarkets heard on Friday May 28.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,650-3,700 zloty ($990-1,004) per tonn...Read More
Domestic prices for rebar in Poland were largely unchanged but still high in the week to Friday May 28, supported by strong demand, limited supply and increased scrap costs, although some sources told Fastmarkets that they believed prices had reached a ceiling.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 3,650-3,700 zloty ($990-1,004) per tonne...Read More
Global steel scrap prices dropped in the week to Friday May 28 on poor sentiment resulting from a weaker Chinese market and a softening of the Turkish market.Turkey reports latest trades at lower pricesUS East Coast sees trades to TurkeyVietnamese market affected by weaker Chinese sentimentChinese prices remain down despite improving futuresTaiwan prices lower on soft buying interestIndian buyers...Read More
Prices for shredded steel scrap imported into India and Pakistan moved down after there was further weakening on the Turkish scrap market and in Chinese futures, Fastmarkets heard on Friday May 28.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $495.42 per tonne on May 28, down from $510.93 per tonne on May 25 and from $517.88 per tonne on May 21.Indian buyers showed...Read More
Prices for inter-merchant light iron scrap in the UK were steady over the week ended Friday May 28, consolidating firm gains from the previous week that hit a nine-year peak, with increases possible in talks due next week between suppliers and steel mills, trade sources have told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK,...Read More
Flat steel buyers and sellers in Turkey are questioning what will happen in global markets in the coming week, after the country's imported flat steel prices decreased in the week to Friday May 28 but local producers were firm on prices.Price changes in China were behind the uncertainty.Hot-rolled coil prices from China started decreasing on May 12 due to the government's call for stable comm...Read More
Flat steel buyers and sellers in Turkey are questioning what will happen in global markets in the coming week, after the country's imported flat steel prices decreased in the week to Friday May 28 but local producers were firm on prices.Price changes in China were behind the uncertainty.Hot-rolled coil prices from China started decreasing on May 12 due to the government's call for stable comm...Read More
Hot-rolled coil prices in China's domestic market rose again on Friday May 28, following a rally in the futures market.DomesticEastern China (Shanghai): 5,400-5,500 yuan ($848-864) per tonne, up by 150-180 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,350-5,380 yuan per tonne, down by 250-270 yuan per tonne.The most-traded HRC October contract on the Shanghai Futures Exchange reac...Read More