China's alumina market is showing signs of a recovery following the emergence of higher offer prices by domestic producers this week due to a number of production cuts in the country, market sources told Fastmarkets on Wednesday August 14.Several alumina operations in eastern and northern China, including China Hongqiao Group's facility in Shandong province that is said to be suffering from severe...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More
Turkish steel producers have remained quiet in the deep-sea scrap markets so far this week because of the religious holiday in the country, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Islamic Eid al-Adha celebrations.As a result...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More
China's hot-rolled coil prices retreated on Thursday August 15 after trading activity fell for a third day.DomesticEastern China (Shanghai): 3,710-3,720 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,720 yuan per tonne, narrowing downward by 10 yuan per tonneBuying slowed further during the day, with downstream buyers putting up resistance despite mills keeping their...Read More
The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced last week.Volumes exceeding the quota will be a subject to a...Read More
The Turkish long steel export markets have been largely quiet over the past seven days, and were closed earlier this week for an Islamic religious holiday, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Eid al-Adha celebration.Turkish steel mills were heard offering rebar around $450-455 per tonne fob on an ac...Read More
The Turkish domestic long steel markets have been silent over the past week with trading limited by a religious holiday in the country, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the...Read More
Steel billet and rebar prices in Egypt remained stable in the week to Thursday August 15, largely due to the Eid al-Adha holiday.Egypt's working week runs from Sunday to Thursday, with Eid observed on August 11-14 and no market activity was apparent on August 15.Continuing uncertainty over safeguard duties on steel billet and rebar also had an impact, sources said..In Apri...Read More
Turkish steel producers have remained quiet in the deep-sea scrap markets so far this week because of the religious holiday in the country, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Islamic Eid al-Adha celebrations.As a result...Read More
Domestic prices for ferrous scrap in Italy have declined over the past month due to seasonally weak demand, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill Italy was ?,?230-245 ($257-273) per tonne on August 14, compared with ?,?240-255 per tonne in the middle of July.Demand for ferrous...Read More
The Turkish billet markets have been quiet over the past week with trading activity restricted by absences for a religious holiday, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 to celebrate the Islamic Eid al-Adha.Only one steel mill was heard bidding for...Read More
China's domestic rebar prices retreated again on Thursday August 5 after a two-day rebound, because of destocking, sources told Fastmarkets. Domestic Eastern China (Shanghai): 3,670-3,730 yuan ($522-527) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,610-3,630 yuan per tonne, down 20 yuan per tonneFutures picked up today, stimulating some buying interest and traders with la...Read More
Domestic stainless steel prices in China edged up further over the past week despite the European Union initiation of an anti-dumping investigation on products from the country and two other territories.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,100-15,500 yuan ($2,148-2,205) per tonne includi...Read More
The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced last week.Volumes exceeding the quota will be a subject to a...Read More
Domestic prices for hollow steel sections remained unchanged across Europe this week, with trading largely on hold during the traditional summer break, sources told Fastmarkets on Wednesday August 14.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, stayed at ?,?615-630 ($688-705) per tonne on Wednesday.During August, many workers take...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil dropped over the past week, largely due to limited buying interest arising from heightened trade tensions between China and the United States, market sources told Fastmarkets.The Chinese currency passed the 7-yuan per $1 threshold earlier this month after US president Donald Trump announced plans to impose 10% duties on...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More