No offers have been submitted to acquire struggling Polish plate producer Huta Czestochowa, the spokesman of the district court of the city of Czestochowa told Fastmarkets. Huta Czestochowa was been recommended for sale by tender in March 2020. The starting price was set at 250 million Polish zloty ($63 million) and bids to acquire Huta Czestochowa could be submitted until May 29, the source...Read More
Prices for mesh-quality steel wire rod in Europe declined over the past seven days on pressure from buyers, sources told Fastmarkets on Wednesday June 3.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?420-440 ($470-493) per tonne on Wednesday, narrowing down by ?,?10 per tonne over a week.ItalyThe Italian market have today af...Read More
The stainless steel scrap market in the United States has slowed its pace, and prices have started flattening out with June demand uncertain and continuing worrisome supply conditions."It will take a strong restart in manufacturing to change the supply side of the equation," one dealer said, adding that it is very "unusual to see a gradual uptick in prices as we head into the summer season, b...Read More
Both coasts of the United States have enjoyed a flurry of renewed activity in the ferrous scrap export market, with global demand becoming the bright spot of business in the US.On the West Coast, one exporter sold a 30,000-tonne cargo to India on Tuesday June 2 at an average price of $280 per tonne as low international shipping rates have opened up many areas that are not typically acces...Read More
Turkish steel producers have continued to book more deep-sea scrap cargoes at steady prices, sources told Fastmarkets on Wednesday June 3.A steel mill in the Izmir region booked a US cargo, comprising shredded scrap at $259.50 per tonne and plate & structural scrap (P&S) at $264.50 per tonne cfr late on Tuesday June 2. The cargo's composition and volumes were not clear at the time of publicat...Read More
Seaborne premium hard coking coal prices dropped on Wednesday June 3 after a transaction was completed at $107.33 per tonne cfr China on Tuesday. Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.46 per tonne, down $2.51 per tonne Premium hard coking coal, cfr Jingtang: $114.95 per tonne, down $1.93 per tonneHard coking coal, fob DBCT: $87.66 per tonne, down $1.91 per tonn...Read More
Seaborne iron ore prices were mostly flat at a high price level on Wednesday June 3 with the seaborne market continuing to be active in low-grade and mid-grade iron-ore fines trading, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $101.22 per tonne, down $0.10 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104 per tonne, down $0.13 per tonne. 58% Fe fines high-grade premi...Read More
Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on Wednesday June 3.Indian and Pakistani steelmakers increased their purchases of containerized scrap imports in recent weeks while Covid-19 lockdown measures eased and steelmaking operations ramped up in both countries.Furthermore,...Read More
China's hot-rolled coil market weakened on Wednesday June 3 on futures losses, but exporters kept offering high despite thin trading.DomesticEastern China (Shanghai): 3,640-3,660 yuan ($512-515) per tonne, down 10-20 yuan per tonneSellers in Shanghai offered at 3,660 yuan per tonne this morning, but cut offers to around 3,640 yuan per tonne in the afternoon after market sentiment was dampened by f...Read More
China's domestic rebar prices strengthened further on Wednesday June 3 on market participants' positive outlook for demand over the next few months. Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($508-512) per tonne, up by 20 yuan per tonneThe Chinese finance ministry said that the country had issued 3.2 trillion yuan of local bonds in the first five months of 2020, up by 65.1% year on year....Read More
The three-month copper price on the London Metal Exchange was up during morning trading on Wednesday June 3, maintaining a push above the nearby $5,500-per-tonne threshold achieved on Tuesday afternoon, while weak demand continues to pressure zinc futures downward. Copper's outright price on the LME was recently seen at $5,529.50 per tonne, while turnover topped the complex over the morning with m...Read More
Key data from the June 3 pricing session in London and Shanghai.Key drivers: - Cobalt hydroxide payables were steady in the first half of the week - fresh inquiries were relatively fewer than in late May, but buyers are still finalizing their latest round of spot top-ups. So far, suppliers have refused to compromise and accept lower bids. - Suppliers indicate they are holding their offers firm for...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
The cobalt standard grade, in-whs Rotterdam, $/lb 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, $/lb...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb 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 Fastmarkets' pricing session in China on Wednesday June 3. Key drivers A lack of buying interest has kept China's domestic gallium market under pressure.A few suppliers slashed offer prices amid aggressive bids, while several others held back from...Read More
British Steel will suspend production at its Skinningrove site for three weeks from June 13, the company said on Tuesday June 2. The company said trading conditions remain challenging, including for products manufactured at the special profiles business in Skinningrove and they have now taken the...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday June 3. Key drivers Europe ferro-titanium market drops on slower demand. Scrap prices also fall, with ample availability seen in near term after some trade sources report a postponement or cancellation in orders that have created extra supply for now. But market participants expect that increase in scrap supply to...Read More
The metals were for the most part weaker this morning, Thursday June 4, while Asian-Pacific equities were stronger. * While Asian-Pacific equities were firmer, pre-market major western equity index futures were showing losses.* Germany provides its economy with a €130 billion ($145.8 billion) stimulus package, including a 3 percentage point cut in value-added tax (VAT) and a doubling of rebat...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade.The European Central Bank maintained current interest rates after releasing its monetary statement.Index futures moved lower following release of economic news at 8:30 AM EDT. Consensus for First Quarter Non-farm Productivity was a drop of 2.7% versus a gain of 1.2% in the fourth quarter...Read More