Fastmarkets' copper concentrates treatment and refining charge (TC/RC) index retreated on Friday July 31 due to continued supply concerns related to Covid-19 shutdowns after more copper producers cut their 2020 production guidance this week. Traders are offering clean copper concentrates into the Chinese market in the high $40s per tonne / 4cents per lb and deals have been heard at that level. A...Read More
Tin stocks in Shanghai Futures Exchange-registered warehouses increased the most in percentage terms across the base metals complex, rising by 12% or 352 tonnes to 3,283 tonnes in the week to Friday July 31. The inflows mainly arrived in warehouses run by Zhongchu Dachang in Shanghai and 830 Huangpu in Guangdong with rises respectively of 153 tonnes and 38 tonnes to 240 tonnes and 1,103 tonnes. "T...Read More
United States' mills list prices for domestic steel beams have held their ground even with mills offering rebates, while prices for imported product have fallen, sources said, noting the steel industry is seeing steady to improving demand.Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US held at $35.25 per hundredweight ($705 per short ton) on Thursday July 30, unc...Read More
Steel industry associations praised the passage of a measure that would ensure adequate funding for trade enforcement activities conducted by the International Trade Administration's Office of Enforcement and Compliance (E&C) to ensure adequate resources to enforce US trade laws."The US House of Representatives today passed an amendment, introduced by the leaders of the Congressional Steel Caucus,...Read More
Indian blast furnace-grade billet export prices have increased by $5 per tonne in the week to Friday July 31, with China being a major buyer along with Southeast Asian countries.Fastmarkets assessed steel billet export, fob main port India at $400-405 per tonne on Friday, up by $5 per tonne from last week's assessment of $395-400 per tonne.Both private sector and government-owned mills have been s...Read More
Brazilian slab export prices increased by $10 per tonne in the week ended Friday July 31, with offers up amid a revival in demand in most buying markets.Sellers were making offers and hoping to achieve deals at $400 per tonne fob, because many had comfortable lead times and were in no rush to book orders.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, reached $39...Read More
A summary of sales figures from Russian steelmaker Evraz in the second quarter of 2020, as stated in a trading update report published on Thursday July 30. In brief Sales of semi-finished steel products from Evraz assests based in the Commonwealth of Independednt States (CIS) surged by 29.2% year on year in the second quarter of 2020 to 1.67 million tonnes from 1.29 million tonnes. CIS asset...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday July 31 due to the seasonal market slowdown, but sentiment in the market remained positive, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?412.50 ($486.30) per tonne on Friday, down by ?,?0.45 per tonne from ?,?412.95 per tonne...Read More
Demand for steel rebar in Poland continued to be good in the week to Friday July 31, supporting the low end of the range, although the high end slipped sources told Fastmarkets Poland's rebar market was still active in the last week of July, supported by vigorous demand from the construction industry. The country's major rebar producers announced higher prices last week, and managed to fix an incr...Read More
Pig iron export prices from Brazil continued to climb in the week to Friday July 31, on new sales to China and the United States. Fastmarkets' price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $325 per tonne on Friday, up from $322 per tonne a week earlier.A cargo was sold to an international trader for the...Read More
Ferrous scrap prices in all the key global markets continued to surge upward in the week ended Friday July 31, with Turkey again achieving higher prices through the week and pushing up those in other regions.Turkey books more cargoes at higher pricesUS market upbeat on recent tradesVietnam scrap prices continue to riseTaiwan prices up with sellers holding back materialIndia reports surge in prices...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was quiet during the week ended Thursday July 30 with demand being heard only in China.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $320-326 per tonne on July 30, up from $319-324 per tonne a week before."This week was deathly silent in all markets due to...Read More
The price of ferrous scrap imported into India in containers jumped by $15 per tonne during the week to Friday July 31 following a flurry of new bookings, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $301.15 per tonne on Friday, up by $15.19 per tonne from $285.96 per tonne a week earlier.Several deals were heard done this week...Read More
The Turkish steel scrap import market was quiet on Friday July 31 because of the Eid al-Adha religious holiday across the region, with no bookings heard and prices flat as a result.Earlier in the week and late last week, however, a number of cargoes were booked.Late on July 24, a steel mill in northern Turkey booked a United States-origin cargo comprising 15,000 tonnes of shredded at $275 per tonn...Read More
The stainless steel scrap market was stable this week amid typically quiet summer activity, sources told Fastmarkets on Friday July 31. Many market participants are absent for holidays while stainless steel mills are undergoing their usual summer shutdowns, meaning demand for scrap is low. One trader in Europe was anticipating a push in September from mills for lower...Read More
The inter-merchant spot market for light iron scrap in the UK was unchanged in the week to Friday July 31, with prices remaining firm and expectations of increases to come, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?85-95 ($111-124) per tonne on Friday.Material availability kept the p...Read More
China's hot-rolled coil prices remained firm on Friday July 31 amid continuous supply shortages in the east of the country, sources told Fastmarkets.DomesticEastern China (Shanghai): 3,970-4,000 yuan ($567-571) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,740-3,770 yuan per tonne, down 50-60 yuan per tonneSellers were offering material at around 3,970 yuan per...Read More
There was strong demand in London Metal Exchange zinc during the Asia trading hours on Friday July 31, causing the three-month price to rise by 1.3%, while an easing of LME tin's forward curve prompted similar buying momentum over the morning. Zinc's outright price on the LME was recently at $2,320 per tonne, breaking through nearby resistance and improving from Thursday's closing price of $2,286....Read More
Some hesitation in the base metals prices on Thursday was short-lived, with all the prices up this morning on Friday July 31 by an average of 0.5%, with stronger economic data out in Asia, earlier in the day, which boosted sentiment. China's manufacturing purchasing managers index (PMI) for July climbed to 51.1 from 50.9 in June. Japan's preliminary industrial production climbed 2.7% in June, afte...Read More
The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $13.75-14.20/lb on Friday July 31, 2020. Bid at $13.80...Read More