Ferrous scrap prices in the major trading regions other than the United States mostly moved downward during the week from Monday August 5 to Friday August 9. Limited demand for finished steel in Turkey and India, and worsening political tensions in Asia, created the conditions for prices to weaken, Fastmarkets heard. Turkish mills mostly stay out of spot markets, seeking lower prices US scrap expo...Read More
The export market for pig iron from Brazil was muted this week because suppliers were sold out for September, sources told Fastmarkets on Friday August 9.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $325 per tonne on Friday, unchanged week on week.Offers from mills were heard at $320-325 per tonne net to producer, or about $325-330 per tonne fob including...Read More
The inter-merchant spot market for UK light iron scrap was stable over the week to Friday August 9, extending the steady trend into a seventh week, with prices supported by major steel scrap shredders competing for business amid relatively tight availability, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More
Prices for Brazil-origin steel slab remained unchanged in the week ended Friday August 9, with improved demand in the export and domestic markets helping to keep sentiment buoyant.The weekly Fastmarkets price assessment for steel slab, export, fob main port Brazil, was $425-435 per tonne on Friday, stable from the previous week.Slab producers were more optimistic after the price of iron ore took a...Read More
Indian domestic prices for secondary steel billet have fallen by 500 rupees ($7) per tonne in the week ended Friday August 9, on account of reduced buying by finished product makers, Fastmarkets has heard.Prices of secondary billet, mainly produced using the induction furnace process, have weakened even although billet mills have reduced their production, according to an official from a billet mil...Read More
China's rebar prices dropped sharply in both the domestic and export markets on Friday August 9 amid bearish sentiment among market participants. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($518-522) per tonne, down 120 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, down 90-100 yuan per tonneHigh inventories, dropping raw material prices, and weakening deman...Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday August 9. China UG2 chrome ore prices ticked down, breaking a four-week rally, after depreciation of the yuan against the dollar raised the cost of importing material. The charge chrome market was stable for the sixth consecutive week amid limited activity. ...Read More
Domestic European transaction prices for stainless-steel flat products were expected to increase in late August, when market activity revives after the seasonal slowdown, sources told Fastmarkets on Friday August 9.The price increase was expected to be driven by rising nickel prices. The price of nickel, 3 months, London Metal Exchange Daily Official, was $15,675-15,680 per tonne on August 9, up f...Read More
Reduced volumes of Chinese-produced steel have been going into the country's export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?According to China's General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished and finished material. This was down ye...Read More
Reduced volumes of Chinese-produced steel have been going into the country's export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?According to China's General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished and finished material. This was down ye...Read More
Major Chinese steelmakers' daily crude steel output rates were largely flat in mid-July compared with the previous period.Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.02 million tpd during the second 10 days of July, up a mere 0.2 %...Read More
China's finished steel exports decreased on a yearly basis in July 2019, as did exports in the January-July period.The country shipped 5.57 million tonnes of finished steel abroad in July, down 5.43% from 5.89 million tonnes a year earlier, according to preliminary Chinese customs data released on Thursday August 8. Last month's exports were 4.90% higher than June's...Read More
Weak demand and bearish macroeconomic factors continued to pressure primary aluminium foundry alloy premiums lower in Europe and the United States on Friday August 9.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, down from $340-355 per tonne on July 11. The premium fell for the second straight month, with market participants...Read More
Prices for Brazil-origin steel slab remained unchanged in the week ended Friday August 9, with improved demand in the export and domestic markets helping to keep sentiment buoyant.The weekly Fastmarkets price assessment for steel slab, export, fob main port Brazil, was $425-435 per tonne on Friday, stable from the previous week.Slab producers were more optimistic after the price of iron ore took a...Read More
Import prices for flat-rolled steel in South America were mostly down over the week ended Friday August 9, with Chinese mills making less expensive offers and liquidity in the region remaining low.Fastmarkets assessed the price for steel cold-rolled coil, import, cfr main ports South America, at $560-570 per tonne on August 9, down from $570-585 per tonne a week before. This was the lowest level s...Read More
Ferrous scrap prices in the major trading regions other than the United States mostly moved downward during the week from Monday August 5 to Friday August 9. Limited demand for finished steel in Turkey and India, and worsening political tensions in Asia, created the conditions for prices to weaken, Fastmarkets heard. Turkish mills mostly stay out of spot markets, seeking lower prices US scrap expo...Read More
Zinc's three-month price on the London Metal Exchange fell by 3% at the close of trading on Friday August 9, dropping its lowest price September 2016, while nickel futures held at newly elevated levels despite a 1.6% decline (over the day?). Turnover across the exchange was fairly light over the day's trading, with nickel volumes leading the complex at just over 10,500 lots exchanged by the close....Read More
Three-month base metals prices on the London Metal Exchange were broadly lower during morning trading on Friday August 9, with turnover predominantly low across the complex while continued buying momentum in lead this week tightened nearby spreads. Despite a 0.4% downturn this morning, the three-month nickel price held onto gains made earlier in the week, coming down from a 16-month high of $16,69...Read More
Base metals prices on the Shanghai Futures Exchange were broadly up during morning trading on Friday August 9 as the Chinese yuan stabilized, with nickel continuing to push higher amid bullish sentiment. "The markets have regained some semblance of composure after the People's Bank of China's countercyclical efforts temporarily tamed the yuan beast, but this probably won't stop traders from p...Read More
Indian domestic prices for secondary steel billet have fallen by 500 rupees ($7) per tonne in the week ended Friday August 9, on account of reduced buying by finished product makers, Fastmarkets has heard.Prices of secondary billet, mainly produced using the induction furnace process, have weakened even although billet mills have reduced their production, according to an official from a billet mil...Read More