Turkish prices for domestic and export hot-dipped galvanized coil (HDG) and color-coated coil fell in the week to Friday July 10, following a dip in feedstock prices. Hot-rolled coil is the base material for coated coil, and the Turkish price widened downward this week, having been stable for two consecutive weeks prior. Fastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey...Read More
The ferrous scrap market in the United States suffered a large downward correction during the July trade, and more downside might be in store for August given a supply overhang, only marginal demand and depressed pricing for finished steel products."The July trade is a reminder of how bad things really are in this country. May and June were only up on supply concerns," a shredder source said. ...Read More
Pig iron export prices from the south of Brazil showed signs growing strength in the week to Friday July 10, on a resumption of sales to China. Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $307-315 per tonne on Friday, narrowing down from $307-320 per tonne a week ago. ...Read More
Steel scrap prices in the Asian markets have recovered following the Kanto auction in Japan, while Turkish deep-sea scrap import values inched down at the end of the week due to weak demand for rebar.Turkish steel producers resumed their deep-sea scrap purchases at the end of the week at slightly lower pricesUS export markets broke silence at the end of the week with fresh cargoes to TurkeyJapanes...Read More
China bought at least 290,000 tonnes of pig iron from Brazil and Russia during the week ended Friday July 10, supporting global pig iron prices, market sources have told Fastmarkets.Suppliers in the south of Brazil sold three cargoes each of 60,000 tonnes for October shipment to international traders. The final price in the Chinese market, including the traders' margin, was $343-344 per tonne cfr...Read More
The pig iron market in the United States went up during the week ended Friday July 10 because of external factors such as low availability globally and high demand in China.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US, was $330 per tonne on Friday, up from $320-325 per tonne a week before.One booking of pig iron from the Commonwealth of Independent States was r...Read More
The inter-merchant spot price for light iron scrap in the UK was steady for the fourth consecutive week in the week to Friday July 10, supported by relatively low volumes being delivered into yards and steady export trade, industry sources said.UK steel scrap supply has seen lower scrap generation due to the economic impact of the Covid-19 pandemic and the national lockdown which is gradually bein...Read More
The cost of containerized ferrous scrap imported into India pared losses in the week to Friday July 10, on lower availability and regular, albeit low key consumer buying, at higher prices, sources told Fastmarkets.The markets are expected to come under renewed pressure in the coming weeks as steel production capacity utilization is well down from maximum at around 60%, with more steel being punted...Read More
Swedish state-owned iron ore producer LKAB plans a short maintenance stoppage at its facility at Malmberget next week.LKAB's sorting and concentrating plants at Malmberget, in the northernmost county of Norrbotten, will be out of action for 12 hours on July 15, the company said this week."LKAB ?s planned maintenance stops are decisive for our ability to...Read More
Market participants say off-warrant aluminium stocks are much higher than what is reflected in this week's London Metal Exchange data release, but many welcomed the added transparency. As part of a new warehouse reform, the LME has begun publishing off-warrant stock data. In the data published yesterday, it highlighted an extra 1 million tonnes of aluminium available as of the end of May 2020. So...Read More
Copper showed the largest increase in deliverable stocks in percentage terms in Shanghai Futures Exchange-approved warehouses in the week to Friday July 10, climbing by 23,018 tonnes or 20.1% to 137,336 tonnes.The largest inflow was reported at the Zhongchu Wusong warehouse in Shanghai, where stocks rose by 9,827 tonnes (47.6%) week on week to 30,469 tonnes, according to the weekly report.The rise...Read More
China's hot-rolled coil prices weakened on Friday July 10 amid inactive trading, with buyers taking a wait-and-see position after restocking at high prices earlier this week.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($551-554) per tonne, down 10 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,720-3,750 yuan per tonne, up 100 yuan per tonneSellers in Shanghai were offering H...Read More
The LME three-month nickel price was trading down 1.2% on the previous day's close at around $13,080 per tonne during the morning session on Friday July 10, continuing its descent from yesterday's $13,550 per tonne intraday high.Yesterday's shadow-stock report from the London Metal Exchange said that 18,753 tonnes of nickel was available off-warrant globally, which constitutes about 8% of the 234,...Read More
An overview of the minor metals markets and the reasons for their latest price moves.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 cobalt alloy grade, in-whs...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...Read More
Key data from the Friday July 10 pricing session in Shanghai.Key driversChina's cobalt metal prices edge up amid rising local futures prices with investors' appetites strengthening on cobalt demand optimism from the electric vehicle (EV) sector after news that BMW Group signed a ?,?100 million ($113 million) contract to secure cobalt supply. Spot demand remained sluggish, however....Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Production at Glencore's Katanga copper and cobalt mine in the Democratic Republic of the Congo (DRC) has been uninterrupted by the confirmation of six Covid-19 cases at the operation.Closure of the mine is unlikely although the possibility has not been ruled out, Fastmarkets understands. The six...Read More
The price of stainless steel in the European domestic market has dropped this week because of low demand, sources told Fastmarkets on Friday July 10.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?1,930-2,000 ($2,185-2,264) per tonne on Friday, down by ?,?50 per tonne week on week.Read More