Turkish steel mills have reported no bookings in the deep-sea scrap markets at the start of this week although they were still need to buy more material for August, sources said on Monday July 29.After booking four deep-sea cargoes last week, the mills stepped out of the deep-sea markets because of weak demand for finished long steel, those sources added."I believe the mills will need to buy few m...Read More
Turkish domestic scrap prices have remained unchanged over the past week because of the slowness of the finished steel markets in summer, sources said on Monday July 29.Almost all of the mills kept their buy prices for local scrap unchanged from the previous week.Only ID??, the long steel mill in the Izmir region,...Read More
Singapore Exchange's (SGX) 65% Fe iron ore derivative contract hit a monthly-traded volume of 2.0397 million tonnes as on Monday July 29, the highest since the contract's launch on December 3, 2018.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $117.99 per tonne, down $0.32 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $1117.91 per t...Read More
Seaborne coking coal prices dropped on Monday July 29, as offer and traded levels plunged.A premium mid-vol cargo changed hands at $168 per tonne fob Australia, market sources said during the day.On the Global Coal platform, an offer for a September-loading premium mid-vol cargo stood at $162 per tonne fob Australia, they added.Chinese buyers continue to hold a bearish outlook on prices amid restr...Read More
Seaborne iron ore concentrate and pellet prices retreated in the past week while the general iron ore market experienced corrections amid softer demand from China.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $119.41 per tonne last Friday July 26, down by $3.47 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines...Read More
Brazilian steel and iron ore producer Usiminas plans to sell a total of 9 million tonnes of iron ore this year, while production is expected to remain close to 8 million tonnes, chief executive officer of the company's mining unit, Carlos H?(C)ctor Rezzonico, said on Friday July 26.Last year, Usiminas's mining division produced 5.65 million tonnes of iron ore and sold a total 6.47 million tonnes.T...Read More
Base metals prices traded on the London Metal Exchange were largely down during the morning session on Monday July 29, despite inventory outflows seen across all of the metals as of 9am on the same day.Only the LME three-month zinc price gained any ground this morning, trading up by 0.6% from Friday's kerb at around $2,454 per tonne.Market sentiment indicates that the complex's price movement cont...Read More
With economic growth still deteriorating - the United States' second quarter gross domestic product (GDP) came in at 2.1%, compared with 3.1% in the first quarter - the markets have little to cheer about this morning, Monday July 29.Economic headwinds, geopolitical tension in the Middle East and in Hong Kong, combined with some record equity levels make for an unstable market platform.A likely US...Read More
With the exception of zinc, base metals prices on the Shanghai Futures Exchange were down during the morning trading session on Monday July 29, dragged down by a firm dollar and trade uncertainty. US-China trade talks restart later today - the first face-to-face discussions since the countries' presidents met in Japan at the end of June - but expectations for a deal are low after White House econo...Read More
Concerns about a possible round of auction for indium stocks held by the defunct Fanya Metal Exchange in the coming months re-emerged among Chinese market participants after the Southwest China's Kunming Superior People's Court announced the second trial result in an open court on Friday July 26, Chinese state news agency Xinhua reported.Kunming Superior People's Court decided to uphold the earlie...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday July 26 ChinaKey drivers The Chinese silicon export price has stabilized after a run of losses, with signs of stability in underpinning domestic market sentiment. The domestic market is reaching a floor, with silicon refiners tightening the spot material supply in response to continuing profit losses.Secondary aluminiu...Read More
Spot cobalt prices continued to grind lower in the international market in the week ending July 26, with traders showing a limited appetite to restock despite prices sitting at multi-year lows. Fastmarkets assessed the alloy-grade cobalt price, in-whs Rotterdam, at $12.45-13 per lb on Friday July 26, a fall of 0.8% from the previous assessment. Fastmarkets assessed the price for standard-grade cob...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday July 26.ChinaKey drivers The price of antimony MMTA standard-grade II, ddp China, stalled after some major domestic suppliers refused to cut offer prices on noticing resumed buying appetite from downstream consumers.Trading activity picked up last week with several domestic antimony consumers re-entering the market for...Read More
A summary of stainless steel producer Acerinox's financial results for the second quarter of 2019, ended June 30.In brief Second-quarter earnings and production output fall significantly year-on-year amid strong import pressure and declining demand in Europe and excess supply in Asia, leading to low prices in both markets. The market in the United States, the company's primary outlet, remains robu...Read More
The Chinese ferro-silicon market has been steady over the past week, consolidating a jump of 5% from the previous week both in domestic and export prices.Chinese market dealers expect further price increases when consumer tenders are settled because heavy industries face strict environmental controls in the near term that may affect production.European trading has been quiet although there are sig...Read More
China's stainless crude steel production increased over the first six months of 2019 amid steady growth in demand.Stainless steel mills produced 14.35 million tonnes of stainless crude steel in January-June period, up 1.13 million tonnes - or 8.51% - from an adjusted 13.22 million tonnes in the first half of last year, according to the China Stainless Steel Council (CSSC) late last Friday Jul...Read More
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LME weekly average cash price down...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soo...Read More
Aluminium The LME three-month aluminium price remains confined...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus...Read More
Short-covering rebound takes a breather... The...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More