Seaborne iron ore prices fell on Wednesday July 31, on an uncertain outlook for the markets.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.15 per tonne, down by $2.46 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $115.65 per tonne, down by $3.88 per tonne.Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qingdao: $118.34 per dmt, do...Read More
Export billet prices from Iran continued to increase in the last week of July amid lively trading of September-rolling volumes.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $390-395 per tonne on Wednesday July 31, against $385-395 per tonne a week earlier.Several cargoes have been reported sold to customers in the Middle East, Africa and Southeast Asia within t...Read More
China's rebar prices were flat in both the domestic and export markets on Wednesday July 31, with demand being reported as steady but weak.Domestic Eastern China (Shanghai): 3,920-3,940 yuan ($569-572) per tonne, unchangedNorthern China (Beijing): 3,830-3,850 yuan per tonne, unchangedRebar futures picked up in the morning before retreating in the afternoon, but the early gains failed to stimulate...Read More
Fastmarkets on Wednesday July 31 launched weekly export price assessments for stainless steel cold-rolled coil, grade 304 (2mm), fob China, $/tonne and stainless steel hot-rolled coil, grade 304, fob China, $/tonne.The launch of these assessments following a month-long consultation reflects China's status as a major exporter of stainless steel. They will serve as important benchmarks for the inter...Read More
Glencore has cut its ferro-chrome production guidance for 2019 by 10% to 1.48 million tonnes as part of its extended winter shutdown, the company said on Wednesday July 31. The trader-miner had already reduced its output guidance by 50,000 tonnes to 1.64 million tonnes in April due to "additional maintenance and extended winter shutdowns, amid reduced power availability/challenges in South Af...Read More
The domestic prices for hollow steel sections in both Northern and Southern Europe were unchanged this week ahead of the seasonal summer break, sources told Fastmarkets on Wednesday July 31.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?615-630 ($686-702) per tonne on Wednesday, flat week on week.Market participants reported very low levels o...Read More
Sales at Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) dropped by 12.1% in the second quarter from a year earlier because of weakness in markets both at home and abroad, it said.Its sales volumes totaled 1.16 million tonnes in April-June, down from 1.32 million tonnes in the second quarter of last year, it said in its earnings report on Tuesday July 30. The faltering Brazilian economy...Read More
Brazil's Companhia Sider??rgica Nacional (CSN) has increased its planned iron ore sales volumes for 2019 by 2 million tonnes or more than 5%, it said.CSN now expects to sell 40 million tonnes of iron ore during the year, the steel and iron ore producer said alongside its second-quarter earnings report on Tuesday July 30, up from its forecast of 38 million tonnes published in May,To...Read More
Metinvest chief executive officer Yuriy Ryzhenkov discusses with Marina Shulga the challenges the company has overcome and the strategies for its future prosperity.Metinvest, the largest steel producer in Ukraine, has faced the seizing of its assets by rebels, military action right next to its plants, raw material supply interruptions and debt restructuring over the last five years. Over this peri...Read More
Zinc premiums dipped in Europe but were flat elsewhere, reflecting the onset of the summer slowdown, although US demand for lead and zinc is reportedly improving. SHG zinc premiums drop in Antwerp, backwardation in forward curve re-emerges Cash/three-month spread swings to $13 backwardation vs contango last week Some US lead buyers picking up tonnages at low numbersNorth European premiums down, ba...Read More
The three-month nickel price on the London Metal Exchange climbed by 1.4% at the close of trading on Wednesday July 31, shaking off downward momentum emanating from an expected US Federal Reserve interest rate cut and subsequent dollar incline. Nickel futures closed at $14,490 per tonne on Wednesday, climbing from an intraday low of $14,255 per tonne while just over 7,000 lots of metal traded over...Read More
The Turkish steel mills have remained quiet in the deep-sea markets due to limited trading activity in te long steel and billet markets, sources said on Wednesday July 31.The mills in the country booked four deep-sea cargoes last week.Sources believed that the Turkish mills still needed scrap for August shipments but the weak rebar...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 31 that are worth another look.A fundamental industry that has always been a primary facilitator of global trade, shipping aims to be at the forefront of digital technology. This report explores initiatives at the Dutch Port of Rotterdam - Europe's largest port by cargo tonnage - and how those connect with global tra...Read More
Dramatic inflows of lead stock into London Metal Exchange warehouses this week have challenged the market notion of physical tightness following a suspension at Nyrstar's Port Pirie smelter, which has been cited as the key driver of a recent surge in the lead price. Total LME lead stock soared to 79,050 tonnes as of Wednesday July 31, up 42.5% from Monday's 55,475 tonnes. There were significant de...Read More
The three-month nickel price on the London Metal Exchange climbed by 1.4% at the close of trading on Wednesday July 31, shaking off downward momentum emanating from an expected US Federal Reserve interest rate cut and subsequent dollar incline. Nickel futures closed at $14,490 per tonne on Wednesday, climbing from an intraday low of $14,255 per tonne while just over 7,000 lots of metal traded over...Read More
Dramatic inflows of lead stock into London Metal Exchange warehouses this week have challenged the market notion of physical tightness following a suspension at Nyrstar's Port Pirie smelter, which has been cited as the key driver of a recent surge in the lead price. Total LME lead stock soared to 79,050 tonnes as of Wednesday July 31, up 42.5% from Monday's 55,475 tonnes. There were significant de...Read More
Chinese buying activity appears to be supporting prices for premium low-vol hard coking coal despite a bearish outlook for the market among Indian buyers who pointed to ample supply and a subdued steel market in the South Asian country.A September-loading cargo of premium low-vol product was at $182.50 per tonne cfr China, sources told Fastmarkets on Wednesday July 31.Another cargo of the same pro...Read More
The US nickel briquette premium narrowed in the week to Tuesday July 30 with the material no longer being offered or traded at lower premium levels, while the nickel premium markets in China and Europe were quiet on a lack of import incentive and summer slowdowns respectively. US briquette premium narrows with business concluded at higher levels despite seasonal lull Chinese premiums flat wh...Read More
Sales at Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) dropped by 12.1% in the second quarter from a year earlier because of weakness in markets both at home and abroad, it said.Its sales volumes totaled 1.16 million tonnes in April-June, down from 1.32 million tonnes in the second quarter of last year, it said in its earnings report on Tuesday July 30. The faltering Brazilian economy...Read More