China's domestic stainless steel prices continued to rise over the past week on low inventory levels and high production costs. Meanwhile, export prices were flat amid sparse trading.A strong nickel market also supported stainless steel prices.The three-month nickel contract on the London Metal Exchange ended Wednesday July 15's official trading session at $13,555 per tonne, up by $90 per tonne fr...Read More
The Northern European domestic hot-rolled coil price was fairly stable day on day on Thursday July 16, while steelmakers continue to insist on price rises, sources told Fastmarkets. While sentiment in the market remains bullish, further price recovery is likely to be slowed by the seasonal weakening of trading activity during summer, sources said. Fastmarkets' daily steel hot-rolled coil inde...Read More
Egypt's Ministry of Finance has decided to exempt finished steel imports from the recently imposed 10% duty if they are to be used for "industrial purposes."The ministry reviewed its decision after a request from the Federation of Egyptian Industries' (FEI) on the new duties.On Monday July 13, the ministry announced that the 10% duty...Read More
The imported billet price increased in Egypt because of higher offers despite tepid demand in the week to Thursday July 16. CIS-origin billet was offered this week at $400-405 per tonne cfr while buyers believed $350 per tonne cfr may be a workable price for the material. CIS sellers did not accept the lower-priced bids. No deals were heard over the assessment period because...Read More
The price for steel billet in the Turkish market has been increasing over the past week, largely due to rising imported scrap costs, sources said on Thursday July 16.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey, was $380-390 per tonne on Thursday, up from the $370-375 per tonne of last week.Export prices for steel billet from the Commonwealth of Independent St...Read More
Turkish domestic long steel prices have increased over the past week in line with the recent upturn in imported scrap values, sources said on Thursday July 16. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,400-3,480 lira ($496-507) per tonne on Thursday, up from 3,350-3,400 lira per tonne of last week, including 18% VAT. Steel mills in the I...Read More
Sales of passenger cars in Europe fell by 22.34% year on year in June 2020, marking the sixth consecutive month of decline.New car sales in Europe totaled 949,722 vehicles in June 2020, down from 1,222,942 units sold in the corresponding month of 2019, the European Automotive Manufacturers Association (ACEA) said on Thursday July 16."However,...Read More
Turkish export prices for steel rebar and wire rod have increased over the past week due to rising costs for imported scrap, but the demand for finished materials was still weak, sources said on Thursday July 16.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $415-420 per tonne on Thursday, up from last week's figure of $400-410 per tonne f...Read More
Turkey's Tosyali Holding is set to start the process of reviving steelmaking in Cassinga in southwest Angola, Africa.The Angolan government approved Tosyali's investment in the Cassinga Integrated Iron & Steel project in 2019, the company said on Friday July 10.Operations...Read More
Seaborne premium coking coal prices fell further on Thursday July 16, largely due to China's strict import restrictions and with market participants split over the future direction of the steelmaking raw material, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.22 per tonne, down $1.63 per tonne Premium hard coking coal, cfr Jingtang: $117.96 per ton...Read More
India imported 9.26 million tonnes of coking coal in the April-June quarter of 2020, according to local media reports. This was down by 28.3% from the corresponding period last year.In June alone, the country imported 2.84 million tonnes of coking coal, down by 10.7% month on month.Total imports of all kinds of coal came to 48.84...Read More
Seaborne iron ore prices went down further on Thursday July 16 with few deals done in the seaborne market and persistent concerns of weak demand due to floods in southern China, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $112.30 per tonne, down $0.68 per tonne.62% Fe low-alumina fines, cfr Qingdao: $113.05 per tonne, down $1.06 per tonne. 58% Fe fines high-grade premium,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prolonged flooding in China could limit the use of construction steel and drag down demand for steel rebar in the short term, which in turn could damp the demand for iron ore. So far, it has been reported that steel mills in the affected regions have continued to operate as normal. The floods have, however, caused a few days...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:Upward momentum in US domestic sheet steel prices came to a halt in the second half of June, wiping out earlier gains. Although the prices of hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased on a monthly average basis, the d...Read More
China's hot-rolled coil inventory levels rose in the past week due to the arrival of imports, but prices were largely stable on Thursday July 16 amid steady buying.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($555-558) per tonne, widening downward by 10 yuan per tonneSellers were mainly asking for 3,890-3,900 yuan per tonne on Thursday morning, but prices weakened slightly in the afternoon...Read More
China's domestic rebar prices fell further on Thursday July 16 amid high stock levels in the spot market.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($509-513) per tonne, down by 20-30 yuan per tonneHeavy rain and high summer temperatures sapped demand for rebar in the past week, which resulted in higher inventory levels in the market.Spot markets in China had 8.42 million tonnes of rebar...Read More
The cobalt alloy 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...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...Read More
Key data from Fastmarkets' July 15 pricing session in Europe.Key drivers The global cadmium market is still paralyzed, with demand from India - the main buyer worldwide - at minimal levels since the pandemic started. Some sources expect renewed activity by early August, they told Fastmarkets. But with several Indian states reimposing partial lockdowns while coronavirus cases in the country near on...Read More
Key data from the July 15 pricing session in London and Shanghai. Key drivers:Cobalt hydroxide payables moved up in the first half of this week with buyers still holding out from making offers in light of tight spot availability and softening standard-grade benchmark metal prices, against...Read More