Indian mills were likely to increase their prices for hot-rolled coil (HRC) for June sales by 1,000 rupees ($14) per tonne because of a rise in input costs, Fastmarkets was told on Friday May 31.Officials from at least two mills confirmed that their mills may consider increasing domestic HRC prices because of rises in the costs of key raw materials such as iron ore and coking coal."Domestic spot p...Read More
The price of hot-rolled coil products in Turkey adjusted over the week to Friday May 31, with local demand moderate before next week's Eid al Fitr celebrations, sources told Fastmarkets.Local demand for flat steel in Turkey failed to improve over the week to May 31, even though prices increased last week after the United States' duty reduction. The US halved its import tariffs on Turkish steel fro...Read More
Coated flat steel prices in Turkey were stable over the week ended Friday May 31, with demand improving in the export markets.Export demand was strong after the United States decided on May 17 to reduce its tariff on Turkish steel imports to 25% from the previous 50%.Coated coil producers did not accept any new orders between May 17 and May 22 because they wanted to see how much the price of hot-r...Read More
The price of shredded ferrous scrap imported into India was almost unchanged week on week due to market uncertainty and poor demand, sources told Fastmarkets on Friday May 31.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $330.40 per tonne cfr Nhava Sheva on Friday, little changed from $330.25 per tonne cfr one week earlier.Last week, prices went up by $10 per...Read More
Prices in the UK's light iron market were unchanged week on week on Friday May 31 despite the uncertainty caused by a fluctuating Turkish scrap market, sources said.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-105 ($107-133) per tonne on May 31, steady week on week."There was no change to prices this week. Prices in Turkey went up, and then...Read More
The Turkish deep-sea scrap markets remained silent at the end of the week because there was no demand in the United States for Turkey-origin finished steel materials, sources said on Friday May 31.Turkish steel producers had resumed their deep-sea scrap purchases at the end of the last week for a short-lived buying spree, after the US reduced its import duty on Turkey-origin products to the pre-ex...Read More
Seaborne iron ore prices fell further on Friday May 31 amid losses in the futures and steel markets.MB 62% Fe Iron Ore Index: $101.60 per tonne cfr Qingdao, down by $2.27 per tonne.MB 62% Fe Pilbara Blend Fines Index: $100.08 per tonne cfr Qingdao, down by $2.27 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $105.53 per tonne cfr Qingdao, down by $2.13 per tonne.MB 58% Fe Premium Index: $94.55 pe...Read More
Seaborne coking coal prices have ended this week lower, and expectations are rife that the market would weaken further, which prompted buyers to sit things out on Friday May 31.The Fastmarkets MB fob Australia Premium Hard Coking Coal Index stood at $201.59 per tonne during the day, unchanged from a day earlier but down 1.3% from that on Monday.The Fastmarkets MB cfr China Premium Hard Coking Coal...Read More
China's hot-rolled coil prices dropped again on Friday May 31, with pessimism growing amid expectations of higher output over the next few days amid stagnant demand.DomesticEastern China (Shanghai): 3,930-3,950 yuan ($569-572) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, down 30 yuan per tonneTrading was reported to be "merely moderate" during the day e...Read More
China's rebar prices resumed its downtrend on Friday May 31 amid declining futures, though the outlook for the market over the next week remains mixed.Domestic Eastern China (Shanghai): 3,940-3,980 yuan ($570-576) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,880-3,950 yuan per tonne, narrowed down 10-40 yuan per tonneTrading activity during the day was thinner than that on Thursday...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 May 31:Minor metals Antimony MB free market regulus, $/tonne: $6,600-6,800 per tonne from $6,600-6,850Antimony MMTA standard grade II, $/tonne: $6,450-6,650 per tonne from $6,500-6,700Bismuth MB China domestic, yuan/tonne: 40,500-42,000 yuan per tonne from 41,500-44,000 yuanCadmium MB free market min 99.95%, cents/lb: 120-130 cents fr...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Fastmarkets has amended the specifications of its standard-grade cobalt price assessment to include grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. Fastmarkets has amended the specifications of its standard-grade cobalt price assessment to include grade-1 and grade-2 Norilsk cut cathodes within its list of accepted cobalt brands. Market feedback suggests both gr...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Transaction prices for grade-304 stainless steel sheet narrowed lower this week ahead of lower alloy surcharges officially taking effect from June 1, sources told Fastmarkets on Friday May 31. Fastmarkets' price assessment for grade-304 cold-rolled stainless steel sheet was ?,?2,200-2,260 ($2,449-2,516) per tonne delivered to Northern Europe on Friday, down by ?,?40 per tonne on the high side from...Read More
Hebei Steel, China's largest steel mill, has kept its purchase price for silico-manganese unchanged at 7,600 yuan ($1,099) per tonne for June delivery, with suppliers trying to maintain higher offers amid rebounding prices in both the spot and futures markets, market sources told Fastmarkets MB.Hebei Steel, as the majority of market participants had expected, initially bid at 7,500 yuan per tonne...Read More
Vietnamese steelmakers booked H2-grade scrap from Japan this week, snubbing offers from the United States and Europe while they await price drops for materials from these two sources as well as in Turkey.But in Taiwan, tight supply of the steelmaking raw material in the island's domestic market led to mills there continuing to snap up US cargoes of heavy melting scrap 1&2 (80:20).VietnamThe weekly...Read More
Copper's three-month price on the London Metal Exchange remained low at the close of trading on Thursday May 30, with its price action capped by a sizable inflow into LME-registered warehouses, while US dollar strength and trade tensions continue to hang over commodity investment. The red metal's three-month price closed the day's trading session at $5,852 per tonne on Thursday May 30. Just u...Read More
Chinese stainless-steel producer Tsingshan Holding Group plans to set-up a cold-rolling mill with an annual capacity of 600,000 tonnes per year in Busan, South Korea, and has submitted letters of intent to the city government and potential business partners, Chinese market sources told Fastmarkets.Domestic suppliers may raise concerns about Tsingshan's plans because South Korea currently consumes...Read More