Shanghai copper premiums fell in the week ending Tuesday July 2 after import arbitrage losses widened, while copper premiums in Italy and the United States were flat amid stagnant demand. Cif Shanghai premium narrows after import arbitrage loss between London and Shanghai widensNarrowing contango in London Metal Exchange forward spreads and tighter credit weaken trader confidence in holding onto t...Read More
Turkish authorities are considering whether to launch a trade defense case against imports of hot-rolled coil (HRC) from the EU, market sources have told Fastmarkets.European mills have increased their HRC export volumes recently, particularly to Turkey, due to the weak demand in their home markets."The start of an anti-dumping case against EU-origin HRC will entirely depend on the attitude of the...Read More
Domestic prices for hollow steel sections in Northern and Southern Europe remained flat this week on a lack of trading, resulting from uncertainty about the region's new import quotas, sources told Fastmarkets on Wednesday July 3.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?630-640 per tonne ($711-722) per tonne deliver...Read More
The price of mesh-quality wire rod in Europe was unchanged week on week, with market participants expecting price stability to continue into the summer holiday period, sources told Fastmarkets on Wednesday July 3.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was ?,?500-510 ($564-575) per tonne delivered on Wednesday, unchanged from June 26."We expect th...Read More
Steel H-beam prices in Northern Europe fell back this week after a short-lived increase last week, despite mills being keen to push prices upward, sources told Fastmarkets on Wednesday July 3.Fastmarkets' price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?570-605 ($644-683) per tonne delivered on July 3, down from ?,?575-610 per tonne one week earlier....Read More
Prices for rebar produced and delivered in Southern Europe widened downwards this week as domestic mills aimed to maintain current price levels, sources told Fastmarkets on Wednesday July 3.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?485-500 ($548-565) per tonne delivered on Wednesday, down ?,?5 per tonne week on week on the lower end from ?,?490-500 per...Read More
The weekly price assessment for rebar produced and delivered in Northern Europe softened this week amid reluctant buying activity, sources told Fastmarkets on Wednesday July 3.Market participants held back from buying while they waited to see the effects on pricing of an influx of imports, following the start of the new annual quota period for the EU steel import safeguards on July 1.Fastmarkets'...Read More
The steel mills in Turkey have continued to book deep-sea scrap cargoes for August shipments to replenish their stocks, sources said on Wednesday July 3.A steel mill in the Marmara region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $299 per tonne, 5,000 tonnes of shredded at $304 per tonne and 5,000 tonnes of bonus at $309 per tonne cfr.This compared with the...Read More
Seaborne iron ore prices were down on Wednesday July 3, even as futures on the Dalian Commodity Exchange closed higher after hitting a five-year peak a day earlier. MB 62% Fe Iron Ore Index: $124.75 per tonne cfr China, down $1.02 per tonneMB 62% Fe Iron Ore Index-Low Alumina: $125.83 per tonne cfr China, down $0.41 per tonneMB 58% Fe Premium Index: $114.86 per tonne cfr China, down $0.18 per tonn...Read More
The seaborne coking coal market continued to weaken on Wednesday July 3 with fob Australia offers falling further while Chinese participants took a step back in anticipation of the outcome of a couple of tenders.A cargo of unbranded materials was offered at $185 per tonne fob Australia on the Global Coal trading platform during the day, down $1 per tonne from a day earlier. A shipment of branded m...Read More
China will allow 15,000 tonnes of ferrous scrap to be imported in 2019, according to a notice seen by Fastmarkets MB this week.The China Solid Waste & Chemicals Management Center listed nine companies in Zhejiang province that have been awarded quotas to import ferrous scrap through ports in the cities of Ningbo and Shanghai. The companies, listed below, can use their quotas in the third and fourt...Read More
Michael Overlander will leave his role as chief executive officer at Sucden Financial and move to become non-executive Chairman of the company, effective of January 1, 2020. Current deputy CEO Marc Bailey will take over the role of CEO from Overlander, Sucden confirmed on July 3. Overlander has worked for the Sucden Group since 1973 and was appointed to the board of Sucden Financial in 1984. He ha...Read More
Exporters of Chinese hot-rolled coil pushed ahead with higher prices on Wednesday July 3 on expectations of a turnaround of the domestic market, notwithstanding the day's losses.DomesticEastern China (Shanghai): 3,890-3,900 yuan ($566-568) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, down 30 yuan per tonneSpot prices fell further after mills lowered their...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 3:Minor metalsAntimony MB free market regulus, $/tonne: $6,100-6,250 per tonne from $6,180-6,400Antimony MMTA standard grade II, $/tonne: $6,000-6,200 per tonne from $6,100-6,350Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 37,500-39,000 yuan per tonne from 38,000-39,000 yuanBismuth...Read More
Key data from the Fastmarkets' Wednesday July 3 pricing session in Europe:Key drivers The European ferro-titanium price fell for the sixth consecutive week after six weeks of stability.Demand has been quiet while the market moves into the seasonal summer slowdown, although some European suppliers say they are resisting going as low as the prices currently being offered from Russia. The initial bou...Read More
China's leading stainless steel mills -Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - have cut their July tender prices for high-carbon ferro-chrome by 450-500 ($65-72) yuan per tonne month on month on July 3.Tsingshan and Baosteel announced the month on month 450-yuan-per tonne reduction in their July tender prices for high-carbon ferro-chrome earlier in the morning on July 3, with...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday July 3:Aluminium scrapCommercial pure cuttings: ?870-920 per tonne from ?900-950Loose old rolled cuttings:...Read More
Demand for flat steel in Turkey failed to improve in June even after the United States halved its import tariffs for Turkish steel to 25%, market participants told Fastmarkets.And local producers have now filled their order books until late August, they said on Wednesday July 3. Turkish steel prices started to rise on May 17 after US import duties of 50% introduced in August 2018 were cut to...Read More
Yesterday, the Dow Jones Industrial Average moved above its previous inter-day high at 26,951.81 to close at an all-time high.The NASDAQ Composite Index closed just below its inter-day all-time high at 8,176.08. StockTwits released yesterday @EquityClockPharmaceutical ETF $PPH moved above $59.16 setting an intermediate uptrend.Technical action by S&P 500 stocks to 10:00: Quiet. Intermedia...Read More
Free Nickel Intraday – BUY Nickel at CMP 881.0 for Target 888.20 – 892.60 with SL 774.90 (small SL) Read More