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
A summary of the financial results for Turkey's biggest steelmaking group Erdemir for the first half of 2019, between January 1 and June 30.In briefEarnings were down due to the negative sentiment in Turkey from late 2018 into early 2019, especially after August when the country's lira lost significant ground against the dollar, following the United States doubling the tariff imposed on Turki...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
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
A lack of activity combined with pessimism and weak iron ore prices to leave export prices for pig iron from the Commonwealth of Independent States (CIS) unchanged in the week to Thursday August 15.Fastmarkets' weekly price assessment for high-manganese pig iron export, fob main port Black Sea, CIS, stayed at at $335-343 per tonne on Thursday."Italy is [at the height of the] vacation season,...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 latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 62% Fe Brazilian Blend fines, sold at the September average of Fastmarkets' index for iron ore 62% Fe low-alumina fines, cfr Qingdao, and another 62%...Read More
The retreat in seaborne iron ore prices resumed on Thursday August 15 following losses in derivatives markets while premiums continued to soften for index-linked cargoes. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $88.44 per tonne, down by $2.28 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $86.94 per tonne, down by $2.28 per tonne. Fastmarkets...Read More
The seaborne coking coal market was steady on Thursday August 14, with market participants taking a wait-and-see approach amid this month's general decline in prices.A cargo of premium low-vol hard coking coal was heard offered at $168 per tonne cfr China while another shipment of similar materials was heard to have changed hands at around $169 per tonne cfr China.The transaction was not corrobora...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, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...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
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
Southwestern China's Kunming Intermediate People's Court will auction for all of the 18,661 tonnes of antimony ingots held by the collapsed Fanya Metal Exchange in late August, according to an official notice seen by Fastmarkets on Thursday August 15.The antimony ingots - equivalent to about two months of global output - will be put up for auction from 10am Beijing time on August 31 until 10am on...Read More
Sellers successfully raised their spot offers for cobalt metal in the first half of this week against trader position taking and modest consumer restocking in anticipation of higher prices in the coming weeks. Fastmarkets assessed the price for cobalt standard grade, in-whs Rotterdam at $14.65-15.70 per lb on Wednesday August 14, up by 11% compared with last Friday's assessment of $13.05-14.30 per...Read More
Against the background of heavy economic and geopolitical clouds, markets are getting some lift on Friday August 16, presumably since they have absorbed all the latest gloomy news on global economy, trade, the unrest in Hong Kong and debt default concerns in Argentina. Gold, the yen and US and German government bonds, remain in high demand, which highlight the cautionary stance investors hold and...Read More
The Russell 2000 Index moved below support at1460.49 setting an intermediate downtrend.The Dow Jones Transportation Average moved below support at 9715.20 setting an intermediate downtrend. StockTwits released yesterday @EquityClockU.S. Telecommunications iShares $IYZ moved below $27.80 completing a double top pattern.US #Retail Trade up 3.0% (NSA) in July, much stronger than the unchanged re...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Aug 15 (Reuters) - Copper slipped on Thursday afterChina said it would hit back against additional U.S. tariffs,fuelling fears over global growth and metals demand.Some other industrial metals, however, clawed higher in thinvolumes as investors closed out bearish positions. China has to take necessary counter-measur...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 14.Please click...Read More
The three-month price of zinc on the London Metal Exchange continued to slide at the close of trading on Wednesday August 14, slipping below the support level at $2,300 per tonne amid a 2.8% selloff, while tin futures held on to gains above the $17,000 per tonne threshold.Volumes traded over the day were moderately low, with copper's 13,234 lots topping the complex, while 11,200 lots of aluminium,...Read More
In the United States, the nickel 4x4 cut cathode premium weakened on the high end while nickel briquette premiums held their wide range, European market players eyed the forward curve and Chinese players maintained focus on the import window. US 4x4 nickel cut cathodes respond to falls from cheaper nickel forms European premiums steady but backwardation may signal a future sell-off Chinese premium...Read More