The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are relatively stable this month, showing little change since our previous tracker. Such stability masks growing issues for stainless steelmakers, however, who are increasingly unable to pass on rising costs to consumers and are, thus, facing cuts to their margins.In general, this is due to an excess of...Read More
Scott Shi and Ben Liu have joined Shanxi Securities while the Chinese brokerage company looks to enhance its commodities business, Fastmarkets understands.Shi - formerly of Hong Kong Exchanges and Clearing (HKEX) - and Liu - who worked at Gelin Dahua previously - will...Read More
The three-month zinc price on the London Metal Exchange was the highest climber among the base metals complex during morning trading on Thursday July 2, supported by strong buying during Asian trading hours, while an 810-tonne inflow failed to stop LME nickel's price incline. The three-month zinc price was recently at $2,064 per tonne, up by 1.1% from Wednesday's closing price of $2,041 per tonne....Read More
Hot-rolled coil prices in the United States continue to hover just below $24 per hundredweight ($480 per short ton) on short mill lead times, uneven demand and concerns about the potential economic impact of a surge in Covid-19 infections.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $23.85 per cwt ($477 per ton) on Thursday July 2, down by 0.6% from $23.99 per cwt...Read More
Most Turkish flat steel prices hit a monthly peak on June 12, following feedstock prices, before edging back down when buyers concluded their procurement activity, market participants told Fastmarkets on Thursday July 2. Turkish flat steel producers are fully booked until mid-September. Feedstock scrap prices fluctuated in June. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), U...Read More
Steel billet import prices decreased in Egypt on lower bids in the week to Thursday July 2, sources told Fastmarkets.In addition, Egypt imposed a 10% duty on imports of finished steel products under HS code 7208, 7209, 7210, 7211, 7212, 7213, 7214, 7215, and 7216, in effect from June 24.The duty does not affect semi-finished product imports, but billet is already subject to a 16% safeguard duty un...Read More
European importers of long steel and hot-rolled coil have claimed that this week's definitive decision in the EU steel imports safeguard case review ignored the interests of independent buyers and focused protection only on steelmakers, market sources told Fastmarkets on Wednesday July 1.The European Commission (EC) presented its definitive decision in the safeguard case on June 30. The adjusted m...Read More
Turkey exported 467,295 tonnes of flat steel products in May, marking a 3.5% increase annually, according to the Turkish Statistical Institute (TUIK). The total flat steel export increase was driven mainly by a 59.5% increase in coated coil exports during the month, which offset falling hot-rolled and cold-rolled coil exports. The reason for the increase in coated steel exports was strong demand i...Read More
Monthly average consumption of steel scrap in Brazil was expected to have fallen by 50% year-on-year during the first half of 2020, amid lower demand from steelmakers due to the Covid-19 pandemic, local scrap association Inesfa said on Thursday July 2.The association estimated that first-half consumption would have totaled 1.95 million tonnes, or 325,000 tonnes per month. Full-year 2019 consumptio...Read More
An accident interrupted operations at one of the coking coal mines operated in Poland by Jastrzebska Sp??lka Weglowa (JSW), the company said on Thursday July 2.A short-lived methane fire at the Budryk long-wall mine on Thursday prompted the stop-work order, JSW said."Mining in the wall has been suspended. The causes of the incident will be...Read More
Iron ore prices maintained their current level on Thursday July 1 amid active trading in the seaborne market and the ports in China, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $99.47 per tonne, up $0.30 per tonne.62% Fe low-alumina fines, cfr Qingdao: $102.10 per tonne, down $0.40 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne, up $0...Read More
The seaborne premium cfr China index jumped on Thursday July 2 following a transaction of premium low-volatility hard coking coal the previous day, although market participants were still unclear about the price trend, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $114.49 per tonne, up $0.92 per tonne Premium hard coking coal, cfr Jingtang: $126.77 per tonne, u...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent price fall in the iron ore market signals the start of a downturn, after prices averaged at the highest level in almost a year in June. A combination of both supply-related events in Brazil and demand factors in China have put pressure on prices. Vale has received permit to resume mining operations in Itabira, whi...Read More
Jindal Steel & Power Ltd (JSPL) has accepted a binding bid for its entire stake in Omani steel producer Jindal Shadeed Iron & Steel in an attempt to reduce company debt, the Indian steelmaker has announced.Jindal Shadeed will be sold to Mauritius-based investment company Templar Investments in a deal worth more than $1 billion. Subject to approval from lenders in Oman and shareholders in India, th...Read More
Robust steel production rates in China kept seaborne iron ore prices above $100 per tonne cfr China for the whole of June, but meager profit margins are beginning to keep Chinese mills away from higher grades of the steelmaking raw material. Prices for 62% Fe iron ore averaged $102.49 per tonne cfr last month - a 10% month-on-month increases - while those for 65% Fe products averaged $115.45 per t...Read More
Markets participants are in an optimistic mood while they focus on economic data that is improving and hopes of a Covid-19 vaccine this morning, Thursday July 2, while apparently choosing not to focus on the havoc that the pandemic is causing.US total vehicle sales climbed to an annualized 13.1 million units in June, after 8.7 million units in May; sales were around 17 million in 2019. Spanish une...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...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...Read More
China imported more than double the volume of cobalt metal in May compared with the same period last year due to arbitrage opportunities, according to market sources. China imported 435 tonnes of cobalt metal in May, up 107% year on year from 210 tonnes and 151% higher than April 2020 when imports totaled only at 173 tonnes, according to China Customs data. Several market participants cited the na...Read More
Key data from the Wednesday July 1 pricing session in Shanghai.Key drivers The cobalt metal price in China was marginally lower in the first half of this week after a persistent downturn in local futures prices was capped on Wednesday, while spot demand improved...Read More