China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More
The seaborne coking coal market was quiet on Tuesday August 27, leaving market participants keenly anticipating the next transaction to gauge the price direction.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.28 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $166.33 per tonne, up $0.08 per tonne Hard coking coal, fob DBCT: $138.76 per tonne, unchangedHard coking coal, cfr...Read More
The export market for Commonwealth of Independent States (CIS)-origin hot-rolled coil and cold-rolled coil weakened during the week ended Monday August 27 amid anticipated further price declines and high trader stocks.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS was $450-460 per tonne on Monday, falling by $20 per tonne week-on-week. "We see that mills are stru...Read More
The London Metal Exchange cash/three-month nickel spread was trading in a $79 per tonne backwardation at the close on Tuesday August 27, its narrowest since July 2007 when it traded in a backwardation of $199 per tonne. Historically trading in a healthy contango, nickel's forward curve has recently become prone to pockets of tightness, attributed mostly to technical trading activity. It most recen...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 27 that are worth another look.The whole battery supply chain will benefit from lithium benchmark pricing, according to Fastmarkets head of battery raw materials research William Adams. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles into their portfolios...Read More
Hilmar Rode will step down as chief executive officer of Nyrstar on September 30 to pursue other opportunities, the miner-smelter announced on Tuesday August 27, noting that the decision was a "mutual agreement."Rode, who was appointed Nyrstar CEO in December 2016, will also cease to be a director of Nyrstar from September 30, the company noted."Daniel Vanin is the chief...Read More
Ball Corporation has launched a pilot for infinitely recyclable aluminium cups in the United States, marking a further sign of customer-driven demand for sustainable products.From September and throughout 2020, Ball will roll out a number of pilots with major indoor and outdoor venues and concessionaires across the US. The cup is currently available in a 20-oz size and Ball aims to introduce addit...Read More
The publication of Fastmarkets' Shanghai copper bonded stocks assessment was delayed due to an administrative error. Fastmarkets assessed copper stocks in the Shanghai bonded zone as normal on Monday August 26. However, the calculation was not published until Tuesday August 27 due to an administrative error. The Fastmarkets price book and database have now been updated and the data has been b...Read More
Tin's three-month price on the London Metal Exchange continued its downtrend during morning trading on Tuesday August 27, with prices near the 2015-low and down 2% on the morning, while a fresh cancelation of just over 17,000 tonnes prompted a slightly higher copper price. At around $15,625 per tonne, three-month tin futures have fallen by around 12% in August, shedding some $1,900 per tonne of it...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased during the week ended Tuesday August 27 on lower offers, with demand yet to recover as buyers hold back until prices reach a bottom. The market is expected to improve after prices stop falling, according to sources. UAE Offers for imports of hot-rolled coil (HRC) from China to the UAE were heard a...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
Turkey produced 19.919 million tonnes of crude steel in January-July 2019, down from 22.184 million tonnes in the corresponding period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The 10.2% drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel. The European Commission (EC) imposed definitive safeguard...Read More
China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More
Prices for most ferrous scrap grades in Mexico's steelmaking regions of Monterrey and Baj?-o held steady in the week to Friday August 23, with a few slight increases seen in Monterrey.Fastmarkets' assessment for the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey, was 5,000 pesos per tonne on Tuesday August 27, up by 50 pesos from 4,950 pesos per tonne a week earlier.Sim...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More
Seaborne iron ore prices fell on Tuesday August 27, closing in on $80 per tonne cfr, amid weaker futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.35 per tonne, down $2.56 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.73 per tonne, down $2.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.07 per tonne, down $3.25 per tonne. 58...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreVale, tender, 160,000 tonnes of 62.51% Fe Standard Sinter Feed Tubarao, traded at the October average of Fastmarkets' index for iron ore...Read More