The price of steel rebar in the Southern Europe domestic market was stable this week amid heavily subdued activity due to the traditional August slowdown, when most companies close for holidays and maintenance, Fastmarkets heard on Wednesday August 16.Fastmarkets' weekly price assessment for rebar, domestic, delivered Southern Europe was unchanged week on week at ?,?470-485 ($526-543) per tonne on...Read More
A summary of Tata Steel's financial results for the quarter ending in June 2019.In briefConsolidated adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) went down, mainly because of lower deliveries from the company's EU assets resulting from planned shutdowns and unplanned outages, coupled with sluggish demand."A rising share of imports and elevated...Read More
Stainless steel scrap prices in the United States have continued to climb following an uptick in London Metal Exchange nickel prices."I wish the recent price improvement was due to increased demand, but unfortunately the price improvement is solely attributable to the London Metal Exchange nickel price and speculation of potential nickel supply issues," one dealer told Fastmarkets."[There's] lots...Read More
The suspension of iron ore exports from SL Mining's operations at Marampa in Sierra Leone have left stockpiles of more than 500,000 tonnes of concentrates at the mine in the Port Loko district, according to the company.An export ban was imposed on SL Mining, a subsidiary of Gerald Group, by the country's new minister for mines and mineral resources, Foday Rado Yokie, from July 24, on the expiry of...Read More
The conspicuous absence of Turkish mills from the East Coast ferrous scrap export market has started to take its toll, with Boston docks lowering prices effective from Tuesday August 13 and headwinds in global rebar prices likely to drag scrap prices lower.Fastmarkets' assessment for the steel scrap No1 heavy melt, export yard buying price, delivered to yard Boston, stands at $230 per gross t...Read More
Steel mills in Turkey have remained out of the deep-sea scrap markets so far this week with trading limited by the Eid al-Adha religious holiday in the country, sources told Fastmarkets on Wednesday August 14.The Turkish market and those in other Middle Eastern territories will be closed until August 15 for Eid al-Adha; no new deals for cargoes were expected to be heard before then.As a...Read More
Physical iron ore prices rebounded on Wednesday August 14 amid an easing of the trade tensions between China and the United States, but seaborne buying remained lackluster.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $90.72 per tonne, up by $1.47 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $89.22 per tonne, up by $1.47 per tonne.Fastmarkets' ind...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 oreBHP, private tender, joint cargo, 110,000 tonnes of 62.4% Fe Newman fines, sold...Read More
Robust buying activity kept seaborne coking coal prices largely supported on Wednesday August 14.A cargo of premium low-vol hard coking coal was traded at $170 per tonne cfr China while a shipment of mid-vol product in the same segment changed hands at $156.50 per tonne fob Australia.Another cargo of premium mid-vol materials was sold at $150 per tonne fob Australia. A shipment of premium low-vol...Read More
The following Fastmarkets minor metals prices changed on Wednesday August 14:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,150 per tonne from $5,950-6,200Antimony MMTA standard grade II, ddp China, yuan/tonne: 36,500-38,000 yuan per tonne from 37,000-38,500...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday August 14:Aluminium scrapClean HE9 extrusions, delivered consumer UK, ?/tonne: ?1,285-1,325 per...Read More
Equity index futures moved higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures responded overnight to Wal-Mart's second quarter report.Index futures moved higher following release of economic data at 8:30 AM EDT. Consensus for Weekly Initial Jobless Claims was an increase to 214,000 from 209,000 last week. Actual was 220,000. Consensus for July Retail Sale...Read More
Aluminium premiums were flat across most regions in the week ended Tuesday August 13, except in Brazil, where the P1020A premium for S??o Paulo delivery ticked higher after three months with no changes. S??o Paulo premium ticks up on dissipating discounts Rotterdam premiums flat, trades thin US Midwest premium unchanged on seasonality MJP steady amid Japanese holidays.Delivered premium up in Brazi...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 13. Please click...Read More
Zinc's three-month price on the London Metal Exchange was higher at the close of trading on Tuesday August 13, appreciating by around 2.6% and settling above the $2,300 per tonne level in a continuing recovery, while strong buying in nickel saw its outright price closed in on the $16,000 per tonne resistance level. Volumes traded in zinc were low over the day's trading, with 7,700 lots exchanged b...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 13. Please click...Read More
Seaborne manganese ore prices continued to fall this past week amid rising risk aversion among Chinese buyers, partly due to the depreciation of yuan against the US dollar, while a weak alloys market also dampened consumers' appetite for seaborne cargoes. Seaborne low-grade, high-grade manganese ore prices continue to soften. Silico-manganese prices dip further in China. Indian silico-manganese pr...Read More
The Chinese ferro-silicon market softened over the past week in line with weaker demand, in turn fueling expectations of further price weakness in the near term.In Europe, however, the ferro-silicon market was steady after recording a small bounce in the prior week after suppliers held their offer prices ahead of expected uptick in demand. Chinese market prepares for further losses Europe awaits r...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday August 9. US Key drivers Excess supply endures, with contracted material, silicon-rich scrap alternatives and grade 5-5-3 increasingly coming to the United States from numerous overseas suppliers. Business remains subdued for automakers, lowering their demand for secondary aluminium...Read More
Key data from the pricing sessions in Asia and Europe in the week ended Friday August 9. China Key drivers The price of antimony MMTA standard-grade II, ddp China ended a month of stability last week, dropping after some domestic suppliers lowered their offer prices to secure sales. Concerns over the possible outflow of antimony stocks held in Fanya Metal Exchange warehouses in the nea...Read More