Chinese suppliers have already exhausted their annual quota for imports into Europe of hot-dipped galvanized coil (HDG) grades used by the automotive industry, just a few days after the start of the new quota period.The HDG grades traditionally used by European car-makers fall into product category 4B of the region's safeguard measures.The full annual quota allocated to material from China for the...Read More
Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told Fastmarkets this week. Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told...Read More
China's hot-rolled coil prices weakened on Friday July 5 with developments in the iron ore market hogging the spotlight for a second day, though participants expect some stability to return to the flat steel segment in the longer term, or even a rebound as a result of falling supply.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, widening downward 10 yuan per tonneNorthern...Read More
The price of shredded ferrous scrap imported into India rose for the first time in several weeks ahead of the country's national budget but sentiment remained negative, sources told Fastmarkets.Fastmarkets' weekly index for containerized imports of shredded scrap into India moved up to $316.27 per tonne cfr Nhava Sheva on Friday July 5 from $308.88 per tonne cfr Nhava Sheva a week earlier, which w...Read More
Turkish mills continued to book deep-sea scrap cargoes for August shipments at the end of the week, with prices remaining firm, sources said on Friday July 5.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $298.50 per tonne and bonus at $308.50 per tonne cfr. The cargo breakdown was not clear at the time of publication.Cargo sizes from that region are gene...Read More
Seaborne iron ore prices fell on Friday July 5, while futures prices on the Dalian Commodity Exchange plunged for the second consecutive session.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $114.81 per tonne, down by $7.22 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines: $114.06 per tonne cfr Qingdao, down by $7.22 per tonne.Fastmarkets' index for iron ore 62% Fe...Read More
Seaborne coking coal prices experienced mild movements on Friday July 5, with premium Australian products continuing to find interest among traders.A cargo of premium mid-vol materials, scheduled for loading in August, was traded at $191 per tonne cfr China, sources said during the day.A day earlier, a shipment of premium low-vol product changed hands around $6-7 per tonne higher. A trader source...Read More
Spot prices for Japanese H2 scrap in Vietnam softened in the latter half of this week after Tokyo Steel, a major buyer of the steelmaking raw material in Japan, slashed the amount it would pay for it.But prices for heavy melting scrap in Taiwan started to strengthen at the start of the week on a rebounding scrap market in Turkey, and held steady thereafter due to thin market liquidity.The mixed si...Read More
China's rebar prices were flat on Friday July 5 with market participants taking a wait-and-see approach in spite of lower futures. Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($578-582) per tonne, unchangedNorthern China (Beijing): 3,920-3,950 yuan per tonne, unchangedRebar futures fell during the day, but the decrease was attributed not to developments in the long steel market but to the...Read More
The following Fastmarkets minor metals prices changed on Friday July 5:Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $6,000-6,250 per tonne from $6,100-6,250Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 40,500-42,000 yuan per tonne from 41,500-42,500 yuanCadmium 99.99% Bi min, cif global ports, cents/lb: 114-124 from 115-124Chromium alumino-thermic 99% min, in-whs...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Stainless steel prices in Europe were likely to remain under pressure due to a longer-than-usual summer slowdown and the renewal of the region's safeguarding quota allocations, while in the United States the determining factor was likely to be the level of alloy surcharges.Meanwhile, the resumption of trade talks between the US and China was likely to boost market activity in Asia.EuropeParticipan...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday July 5:Aluminium scrapFloated frag delivered consumer Europe: ?,?960-990 per tonne from ?,?940-980Cast...Read More
ZINC TRADING TIPSZinc Trading Tips – Zinc Buy Call 1c67 given at price 195.30 Triggered SL at price 194.20. Total 1.10 Points SL hitTIPS ID 1c67 : Zinc Intraday Calls - BUY Mcx Zinc July at CMP 195.30 for Target 196.20 - 196.90 with SL 194.20 Read More
LEAD MCXLead Mcx – Lead Buy Call 1c66 given at 152. CMP 152.65. Low risk taker book 0.65 Points per lot. RISK taker HoldTIPS ID IC66 : Lead Calls - Buy Lead between 151.90 - 152.10 (CMP 152) for Target 152.85 - 153.80 with SL Below price 150.85 Read More
Zinc Intraday Calls – BUY Mcx Zinc July at CMP 195.30 for Target 196.20 – 196.90 with SL 194.20 Read More
Lead Calls – Buy Lead between 151.90 – 152.10 (CMP 152) for Target 152.85 – 153.80 with SL Below price 150.85 Read More
Key data from the July 4 pricing session in London and Shanghai.Fastmarkets' benchmark daily fob Australia alumina index declined to $318.10 per tonne on Thursday July 4 from $319.28 per tonne on the previous day. It remains at its lowest since August 2017 and is down by 12% from $363.08 per tonne on June 4.Chinese free market, metallurgical grade alumina fell to 2,700-2,750 yuan ($400.20) per ton...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday July 4, with price movements largely subdued by a national holiday in the United States while volumes traded were markedly lower.Over the afternoon, tin's three-month price continued its ascent back above $18,000 per tonne, climbing by more than 4% to close at $18,350 per tonne.The metal was subject to i...Read More
Base metals prices on the London Metal Exchange were mixed across morning trading on Thursday July 4, with low liquidity capping three-month prices in broadly narrow ranges.Overnight, tin's three-month price continued to stabilize above the $18,000 per tonne level after falling by more than 6% at Tuesday's close.Forward spreads have also been favorable in tin, with the benchmark cash/three-month r...Read More