Egypt's Administrative Courts suspended an earlier decision to impose safeguard duties on imports of rebar and steel billet on Thursday July 4.The country's Ministry of Trade & Industry started a safeguard investigation into billet imports on March 31.The ministry then imposed a temporary additional duty on imports of rebar and billet on April 15, with the import duty for rebar set at 25% and that...Read More
The domestic rebar prices in Turkey have edged down slightly over the past week amid strength in the Turkish lira against the US dollar, sources said on Thursday July 4.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,100-3,120 ($550-554) per tonne ex-works, narrowing down from last week's TRY3,100-3,160 per tonne ex-works.The domestic rebar price in the Izmir region was...Read More
Turkish rebar producers failed to fully pass the increase in imported scrap costs onto their finished goods prices over the past week due to weak demand, sources said on Thursday July 4.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $445-465 per tonne fob on actual weight basis, slightly wideneding up from last week's $445-460 per tonne.The country's mills increased their...Read More
Italian welded tube manufacturer Padana Tubi & Profilati Acciaio is to increase tube capacity at one of its mills with a new welding line, equipment provider SMS Group said on July 3.SMS group will provide the new 16 3/4 -inch ERW tube welding line which will be installed at Padana ?s Guastalla works in 2020. There is already a 14-inch tube welding line at the same location. This new line...Read More
ArcelorMittal has widened the area that it considers vulnerable to any tailings dam breach at its Serra Azul iron ore mine in the southeast Brazilian state of Minas Gerais, the company said on Thursday July 4.It has decided to relocate 30 families from the vicinity, it said.The alert status for the mine, however, will remain unchanged at level 2, because those risks did not derive from the latest...Read More
Turkish steel producers continued their deep-sea scrap purchases for August shipments despite increasing prices, market sources said on Thursday July 4.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 26,000 tonnes of HMS 1&2 (80:20) and 1,500 tonnes of bonus, at an average price of $298.50 per tonne cfr.Fastmarkets calculates the HMS 1&2 (80:20)...Read More
Seaborne iron ore prices fell on Thursday July 4, while futures prices on the Dalian Commodity Exchange plunged after hitting a five-year high earlier this week.MB 62% Fe Iron Ore Index: $122.03 per tonne cfr Qingdao, down $2.72 per tonne. MB 62% Fe Pilbara Blend Fines Index: $122.03 per tonne cfr Qingdao, up $2.72 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $124 per tonne cfr Qingdao, down $...Read More
Seaborne coking coal market was stable on Thursday July 4, underlining some market participants' expectations of a slow price slide for the steelmaking raw material.An 85,000-tonne cargo of a top brand of premium low-vol hard coking coal was traded at $197.19 per tonne cfr China. The cargo is scheduled for loading in August.The same brand had fetched $200 per tonne cfr China last week.A buyer sour...Read More
China's hot-rolled coil prices were unchanged on Thursday July 4 although trading activity dropped in the afternoon after futures declined amid chatter that a group of Chinese steelmakers has planned a working group to study the import iron ore market where prices have hit record highs this year.DomesticEastern China (Shanghai): 3,890-3,900 yuan ($565-567) per tonne, unchangedNorthern China (Tianj...Read More
China's domestic rebar prices were relatively steady on Thursday July 4 amid mild movements in the futures market, though the export segment continued to weaken on soft demand.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-581) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,920-3,950 yuan per tonne, widened downward by 10 yuan per tonneSellers in eastern China raised their p...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-warehouse, $ per lb Click here for Fastmark...Read More
Chinese magnesium suppliers have been making increasingly aggressive offers amid persistent selling pressure as a result of lackluster buying appetite from a magnesium casting sector being hit hard by US tariffs and weakness in the domestic automotive industry. Fastmarkets MB 's assessed Chinese domestic magnesium min 99% Mg, ex-works price fell to 15,500-15,600 ($2,252-2,266) yuan per tonne...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. The cobalt sulfate, Co 20.5% basis, China ex-works, adjustment to the standard-grade cobalt low-end price is on a $ per lb basis. Fastmarkets MB prices Click here for Fastmarket MB's price assessment...Read More
Import prices for stainless steel in East Asia rose over the past week following a surge in the price of nickel.Producers will attempt to sustain the upward trend in stainless steel prices going forward under the pretext of higher nickel costs, a trader in Taiwan said.But a trader in northern China said the jump in the price of nickel had been too abrupt and buyers are likely to be unwil...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade.Index futures were virtually unchanged following release of the June Employment Report released at 8:30 AM EDT. Consensus for June Non-farm Payrolls was 160,000 versus downwardly revised 72,000 in May. Actual was 224,000. Consensus for the June Unemployment Rate was unchanged from May at...Read More
ZINC INTRADAY TIPSZinc Intraday Tips – Zinc Sell Call 1c60 given at 197.40 Achieved 1st 196.40 & 2nd Target 195.70. Made 195.70 TOTAL profit of 1.7 Points / Rs 8500 ProfitTIPS ID 1c60 : Zinc Intraday - SELL Zinc at CMP 197.40 for Target 196.40 - 195.70 with SL Above 198.55 Read More
Zinc Intraday – SELL Zinc at CMP 197.40 for Target 196.40 – 195.70 with SL Above 198.55 Read More
Tin's three-month price on the London Metal Exchange climbed by more than 3% at the close of trading on Wednesday July 3, settling above the nearby $18,000-per-tonne resistance level after sliding by more than 6% at Tuesday's close. More than 600 lots of tin were traded by the close, around half of Tuesday's total volumes traded but higher than the June average of around 300 lots. Recovering...Read More
Chinese nickel premiums dipped in the week to Tuesday July 2 while the closed import arbitrage window and sufficient supply of material in the region dampened physical appetite for the metal and European and United States' premiums continued to trade flat on holiday season illiquidity. Arbitrage loss in China sends both nickel premiums down European premiums trade flat amid summer season illiquidi...Read More
Open Mineral Exchange beat hopefuls to be named one of 56 Technology Pioneers of 2019 by the World Economic Forum (WEF) in Zug, Switzerland, on July 1 for its trading platform.The Swiss trading platform wants to bring transparency to the metal concentrate markets, which enables buyers and sellers to swap assays, payment terms and trade via its online business-to-business platform.The platform is.....Read More