Prices for cold-rolled coil in the United States fell further in the week to Thursday June 20, while coated steel prices declined after stabilizing somewhat the week before.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil stood at $35 per hundredweight ($700 per short ton) on June 20, down by $1 from one week earlier and its lowest since early November 2016.Fastmarkets assessed th...Read More
Mexican steelmaker Altos Hornos de Mexico (Ahmsa) is suspending its No5 blast furnace - the largest in its operations - for 10 days beginning Thursday June 20 for maintenance.The move is needed to ensure that it meets its output schedule for the second half of 2019, it said on Wednesday. "All other equipment will operate normally during this period to guarantee delivery to customers," the steelmak...Read More
European alloy steel scrap prices were largely unchanged in a week when the effects of low demand were countered by a slight increase in the price of nickel, sources told Fastmarkets on Friday June 21.Austenitic scrap prices primarily track nickel costs, with supply and demand acting as secondary price drivers. But demand has been so poor in recent weeks that it has started to exert a greater infl...Read More
The price of shredded ferrous scrap imported into India went down for the fourth consecutive week amid poor trading conditions, sources told Fastmarkets on Friday June 21.Fastmarkets' weekly index for containerized imports of shredded scrap into India fell to $312.87 per tonne cfr Nhava Sheva on Friday, down from $318.38 per tonne cfr Nhava Sheva on Friday June 14.This is the lowest price to date...Read More
Turkish steel mills stayed away from the deep-sea scrap market at the end of the week amid increasing stock levels, sources said on Friday June 21.After booking a US cargo on Wednesday June 19, the mills went quiet in the deep-sea markets.A steel mill in the Iskenderun region had booked the US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $278.50 per tonne and 7,000 tonnes of shredded at $2...Read More
Iron ore prices were rangebound on Friday June 21 with more concerns raised over the profit margins of Chinese steelmakers.MB 62% Fe Iron Ore Index: $116.98 per tonne cfr Qingdao, down $0.27 per tonne. MB 62% Fe Pilbara Blend Fines Index: $115.78 per tonne cfr Qingdao, down $0.27 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $118.46 per tonne cfr Qingdao, down $0.33 per tonne. MB 58% Fe Premium...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron ore Iron ore BHP, Global Ore, 90,000 tonnes of 62% Fe Newman fines, traded at the July average of a 62% Fe index at a premium of $5.65 per tonne, July arrival. BHP, Global Ore, 170,000 tonnes of 62%...Read More
The London Metal Exchange has reintroduced a matched bargain service to facilitate the buying and selling of B shares across its membership structure, it said in a note to members on Friday June 21.Stemming from the bourse's Strategic Pathway, which began in 2017, the LME pledged to provide an adequate matched bargain facility and leasing scheme for B shares after its previous service was disconti...Read More
Trading was active in China's export hot-rolled coil market on June 21, with traders rushing to restock on expectations that prices will gain further. Domestic Eastern China (Shanghai): 3,780-3,800 yuan ($550-553) per tonne, up 10-20 yuan per tonne. Northern China (Tianjin): 3,770-3,780 yuan per tonne, narrowing upward 10 yuan per tonne. Prices climbed further on Friday on futures g...Read More
Iran's shooting down of a US drone has raised tensions in the Middle East, with gold and oil prices extending gains, while equities in Asia have weakened.Spot gold price reaches high of $1,411.90 per ozUS President Donald Trump reportedly ordered an attack on Iran, which was later aborted Asian equities weaker across the board Base metals Three-month base metals on the London Metal Exchange were f...Read More
Base metals prices on the Shanghai Futures Exchange were broadly down during the morning trading session on Friday June 21, with nickel leading the charge lower.The most-traded August nickel contract stood at 98,450 yuan ($14,332) per tonne as at 10.15am Shanghai time, down by 1,430 yuan per tonne, or 1.4%, from Thursday's close of 99,880 yuan per tonne.The rest of the complex, barring tin, were i...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price assessment, click here.To see all Fastmarkets' pricing methodology and specification documents, go to www.metalbulletin.com/prices/pricing-methodology.Friday...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday June 21:Minor metalsBismuth MB free market, $/lb: $3-3.20 per lb from $3-3.30Bismuth MB China domestic, yuan/tonne: 42,000-43,000 yuan per tonne from 41,500-43,500 yuanCobalt MB free market alloy grade, $/lb: $14.50-15.15 per lb from $14.60-15.30Cobalt...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Prices for flat stainless steel products produced and delivered in Europe fell his week because of low demand and an expected surge of imports from July 1, Fastmarkets heard on Friday June 21. One European producer posted monthly alloy surcharges for July at lower levels than for June; others are expected to follow suit. Anticipation of these decreases is also believed to have weighed on stainless...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday June 21:Aluminium scrapCast: ?,?850-870 per...Read More
Ferrous scrap prices in Asia continued to trend downward this week, but a rebound might be on the horizon, market sources told Fastmarkets MB.This is because scrapyards in the United States and Japan are facing very thin margins and are unlikely to lower their prices any further, they said."The downtrend is still present, especially with long steel still being offered at low prices by mills in Tur...Read More
Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Thursday June 20, settling at its highest level since May 24, while the rest of the complex was buoyed by dollar weakness and strong figures from the United States labor market. The metal's three-month price reached an intraday high of $12,390 per tonne, closing at $12,300 per tonne while total volumes tr...Read More
The International Lead and Zinc Study Group (ILZSG) has indicated a slight uptick in global production for both zinc and lead across January-April of 2019, while global zinc demand remains in question against a 1.3% fall in global usage.Across January-April of this year, lead mine production climbed up by 0.7% to 1,544,000 tonnes from 1,534,000 tonnes over the same period in 2018. Refined lead met...Read More