The export market for Commonwealth of Independent (CIS)-origin hot-rolled coil and cold-rolled coil were slow on pessimistic buyers' mood, sources told Fastmarkets on Monday August 12.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS was $470-485 per tonne on Monday, unchanged week on week."Local markets in the key outlets are weak, in such conditions import price should go d...Read More
China exported 2,807 tonne of ferro-vanadium (basis 75% vanadium) in the first half of 2019, a drop of 17.9% from 3,419 tonnes over the same period in 2018, according to official but unconfirmed data seen by Fastmarkets. The pronounced year-on-year dip in the export of ferro-vanadium was mainly due to a higher Chinese price compared with its European counterpart for most of the first half of the y...Read More
China's hot-rolled coil prices rose on Tuesday August 13 after trading picked up a day earlier, though some mills lowered their export offers in an attempt to secure sales.DomesticEastern China (Shanghai): 3,700-3,710 yuan ($525-526) per tonne, up 40 yuan per tonneNorthern China (Tangshan): 3,700 yuan per tonne, up 30-50 yuan per tonneMills in northern China raised their ex-works offers by around...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
Prices for hot-rolled coil in Asia maintained their downward trend in the past week amid rampant short-selling and a weakening raw materials market upstream.Fastmarkets' price assessment for steel HRC, import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $495-497 per tonne on Tuesday August 13, down by $5-18 per tonn...Read More
The Turkish deep-sea scrap markets were unchanged today while trading paused in the country due to the Eid al-Adha religious holiday, sources told Fastmarkets on Tuesday August 13.The Turkish market and those in other Middle Eastern territories will be closed until August 15 for Eid al-Adha; no new cargoes are expected...Read More
The UK ferrous scrap market for deliveries to domestic consumers in August has settled with prices unchanged for the third month in a row, balanced between relatively tight supply and low key demand, Fastmarkets heard on Tuesday August 13.The uncertainty about underlying consumption in the UK and Europe, because of weaker manufacturing, helped to confirm the downward trend. And the weakness of ste...Read More
Seaborne iron ore prices continued to retreat on Tuesday August 13 below the $90-per-tonne-cfr mark.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $89.25 per tonne, down $4.87 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $87.75 per tonne, down $4.87 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $89.52 per tonne,...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, Global Ore, 170,000 tonnes of 62% Fe Brazilian...Read More
Seaborne coking coal prices were steady on Tuesday August 13, though Chinese market participants remained bearish about the market.Buyer and trader sources in the country cited weak downstream markets, ample supply and import restrictions on coal at Chinese ports as the main reasons for their pessimistic outlook for prices over the next few weeks."The margins for steel mills in China have narrowed...Read More
US domestic mills resoundingly won the tug-of-war with ferrous scrap sellers this month and successfully limited the upside on prices, yet the outlook for September remains unclear, with some sellers hopeful for further increases while others believe the market may have peaked.Ferrous scrap markets across the country - including Detroit and Chicago - saw a $20-per-gross-ton increase on most grades...Read More
News of a Europe-origin cargo of ferrous scrap booked at lower prices by a Turkish steel mill came to light on Monday August 12, only the second such cargo to be traded this month, sources have told Fastmarkets.News of the cargo came to light late on Friday after the deadline for the indices on that day.A steel mill in the Iskenderun region booked a European cargo comprising 30,000 tonnes of HMS 1...Read More
China's domestic rebar prices picked up some strength on Tuesday August 13 amid early gains in the futures market. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($517-521) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,610-3,640 yuan per tonne, up 10 yuan per tonneRebar futures picked up late on Monday and stayed high for the rest of the day. The most-traded October contract stay...Read More
Silicon prices in the United States logged their 17th consecutive month of declines in August, a trend sources attributed mostly to surplus supply.Fastmarkets' price assessment for silicon, ddp US, dropped to $1.01-1.07 per lb on Friday August 9, down from $1.05-1.10 per lb on July 10 and its lowest since the price stood at $1.01-1.03 per lb in February-March 2017.The price had climbed to $1....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
Under the cloud of the continuing US/China trade dispute, which has no end in sight and is weighing on global economic activity, market sentiment is subdued. But numerous events are buffeting prices - with nickel supported by short-covering and fresh buying against concerns about present and future supplies, while copper mine supplies may be affected by strikes at ports in Peru. Zinc and tin, rema...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
A summary of the financial results for Austrian steelmaking group Voestalpine for the first quarter of its 2019-20 year, April 1 to June 30.In briefEarnings were down due to the fallout from international trade conflicts and the growing weakness of the global economy, which affects Europe's export-oriented industries.Profit margin came under presure from strong increases in...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
The upward momentum in global ferro-vanadium markets stalled in the week ended Friday August 9, with prices in Europe and China edging down. Chinese, European FeV prices edge down after spot activity slows V2O5 prices weaken in China while European market continues to riseUS ferro-vanadium prices soften amid renewed activityAfter rising for three consecutive weeks, the export price for ferro-vanad...Read More