Although the softer dollar index has provided a conducive backdrop for risk sentiment, there is still an air of caution amid the simmering geo-political tensions in the Middle East.Over the weekend, Iran warned that it is 'fully prepared to enrich uranium at any level and with any amount', sparking fears that the long-tense relations between Iran and the United States is edging closer to a full mi...Read More
Base metals prices on the Shanghai Futures Exchange were mostly up during morning trading on Monday July 8 after the release of better-than-expected US non-farm payroll numbers last week and amid anticipation that the US Federal Reserve will cut interest rates.The non-farm payrolls release last Friday showed that 162,000 jobs were added to the US economy in June after an increase of 75,000 jobs in...Read More
Brazilian imports of flat and long steel decreased in June due to lower coil shipments from China and reduced rebar deliveries from Turkey.Brazil imported 74,541 tonnes of flat steel in June, down by 44.86% from 135,187 tonnes in the same month last year.Imports of cold-rolled coil from China tumbled to 2,438 tonnes in June from 26,360 tonnes a year earlier.Inbound shipments of hot-dipped gal...Read More
There were varied expectations for the development of the CIS export slab market in the week ended Monday June 8.Some market participants expected prices to pick up following the recent rises in raw materials prices - iron ore and scrap, in particular - as well as the recent successful sales of material from both the Black Sea and Russia's Far East ports to Asia."We intend to increase prices this...Read More
Steel slab import prices in Southeast Asia and East Asia remained unchanged, despite the fall in iron ore prices, because market participants were holding back awaiting further clarity, sources said on Monday July 8.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, was $114.81 per tonne on July 5, down $3.66 per tonne from a week earlier.A slab producer in the Commonwealth of Independent...Read More
China's hot-rolled coil prices fell further on Monday July 8, though market participants expect things to improve soon with trading activity picking up domestically.DomesticEastern China (Shanghai): 3,860-3,870 yuan ($560-561) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, narrowing downward 10 yuan per tonneSpot prices fell with mills lowering their offe...Read More
Turkish steel mills have taken a break from deep-sea scrap purchasing at the beginning of the week but are expected to soon book more cargoes for August shipment, sources told Fastmarkets on Monday July 8.After booking a Baltic Sea cargo at $298.50 per tonne cfr for HMS 1&2 (80:20) late last week, mills were quiet at the beginning of this week.However, they are expected to book more deep-sea...Read More
Turkish domestic prices for steel scrap have remained stable over the past seven days on weak demand in the summer holiday period, sources said on Monday July 8.Only one steel mill changed its buy price for auto bundle scrap in the past week. Habas reduced its purchasing price for the material by TRY20...Read More
Seaborne iron ore prices rebounded on Monday July 8, with supply tightness a lingering concern for most market participants.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $118.38 per tonne, up $3.57 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $118.30 per tonne, up $4.24 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qing...Read More
Seaborne iron ore concentrate and pellet prices increased in the week to Friday July 5, propelled by the recent surge in iron ore fines values.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao was $125.12 per tonne on July 5, up by $2.09 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $131.06...Read More
Seaborne coking coal prices experienced mild movements on Monday July 8, with spot trading activity remaining robust.A cargo of top-quality product was traded at around 190-191 per tonne fob Australia. The shipment is bound for Malaysia, sources said during the day.A shipment of premium mid-vol materials was heard to have changed hands at $190 per tonne cfr China. This price is similar to that for...Read More
Import prices for rebar in Singapore rose in the past week due to the rising cost of ferrous scrap.The weekly Fastmarkets MB price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $490-495 per tonne cfr for the week to Monday July 8, up $15 from $475-480 per tonne cfr from a week earlier.Ferro...Read More
The Queensland Resources Council (QRC) will hold discussions with the Australian government, mining unions and workers this week regarding action that can be taken to increase safety across the sector. This follows a fatal accident over the weekend at the Baralaba North mine - located in the Bowen Basin of Australia's Queensland state - that led to the death of a worker. The Middlemount mine, loca...Read More
Northern China's rebar prices weakened on Monday July 8 while those in the country's eastern region held steady, with market participants still taking a wait-and-see approach after iron ore prices plunged last week.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($576-580) per tonne, unchangedNorthern China (Beijing): 3,900-3,940 yuan per tonne, down 10-20 yuan per tonneMarket participants wer...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday July 5. China Key drivers The antimony MMTA standard grade II ddp China price ended five weeks of stability last week, softening by 0.6% week on week. The price dropped after some Chinese antimony producers in southwestern Yunan, Guizhou provinces and southern Guangxi province were heard to have cut their o...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 5.China Key drivers Good supply coupled with persistently weak demand pushed the Chinese silicon export price to its lowest level since September 2016. Most silicon producers in Fujian province have shut down operations because of the cancellation of cheaper electricity prices in the third quarter by t...Read More
Key data from the Friday July 5 pricing session in Shanghai. Key drivers China's cobalt market broadly remained under pressure on weak demand last week, with metal and tetroxide prices dropping 1.8% and 1.6% respectively on Friday from the midweek pricing session. The cobalt metal price dropped by 8,000 yuan at the high end, which usually represents the...Read More
Key data from the July 5 pricing session in London. Key driversThe benchmark standard grade cobalt price fell to its lowest level in 32 months, with spot demand slow over the summer. Sellers are cutting their offer prices, or targeting the lower end of Fastmarkets' price range to lock in trades. Some sellers said they might be open to taking a bid below...Read More
A sharp drop in July ferro-chrome tender prices from China's leading mills triggered a further slide in spot ore and alloy prices last week. Spot ferro-chrome price dropped by 4.6% in ChinaUG2 chrome ore slid againAlloy prices under pressure in Japan and South KoreaEuropean alloy prices weaken again Chrome ore and ferro-chrome prices dropped in China in the week ended Friday July 5 after mills an...Read More
India's Ministry of Commerce & Industry has initiated an anti-dumping investigation into imports of flat-rolled stainless steel from 15 regions.The investigation covers flat-rolled stainless steel products imported between 2015 and March 2019, under HS code codes 7219 and 7220, from China, South Korea, the European Union, Japan, Taiwan, Indonesia, the United States, Thailand, South Africa, Me...Read More