Demand for steel rebar in Poland continued to be good in the week to Friday July 31, supporting the low end of the range, although the high end slipped sources told Fastmarkets Poland's rebar market was still active in the last week of July, supported by vigorous demand from the construction industry. The country's major rebar producers announced higher prices last week, and managed to fix an incr...Read More
Chevron (CVX), a Dow Jones Industrial Average stock moved below $82.50 setting an intermediate downtrend.Exxon Mobil (XOM), a Dow Jones Industrial Average stock moved below $41.10 setting an intermediate downtrend. Gilead (GILD), a NASDAQ 100 stock moved below $71.66 setting an intermediate downtrend.American Airlines (AAL), a NASDAQ 100 stock moved below $10.98 extending an intermediate downtrend...Read More
Pig iron export prices from Brazil continued to climb in the week to Friday July 31, on new sales to China and the United States. Fastmarkets' price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $325 per tonne on Friday, up from $322 per tonne a week earlier.A cargo was sold to an international trader for the...Read More
Ferrous scrap prices in all the key global markets continued to surge upward in the week ended Friday July 31, with Turkey again achieving higher prices through the week and pushing up those in other regions.Turkey books more cargoes at higher pricesUS market upbeat on recent tradesVietnam scrap prices continue to riseTaiwan prices up with sellers holding back materialIndia reports surge in prices...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was quiet during the week ended Thursday July 30 with demand being heard only in China.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $320-326 per tonne on July 30, up from $319-324 per tonne a week before."This week was deathly silent in all markets due to...Read More
The price of ferrous scrap imported into India in containers jumped by $15 per tonne during the week to Friday July 31 following a flurry of new bookings, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $301.15 per tonne on Friday, up by $15.19 per tonne from $285.96 per tonne a week earlier.Several deals were heard done this week...Read More
PRIVATE BLOG - Gold & Euro Close for July 2020Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
The Turkish steel scrap import market was quiet on Friday July 31 because of the Eid al-Adha religious holiday across the region, with no bookings heard and prices flat as a result.Earlier in the week and late last week, however, a number of cargoes were booked.Late on July 24, a steel mill in northern Turkey booked a United States-origin cargo comprising 15,000 tonnes of shredded at $275 per tonn...Read More
The stainless steel scrap market was stable this week amid typically quiet summer activity, sources told Fastmarkets on Friday July 31. Many market participants are absent for holidays while stainless steel mills are undergoing their usual summer shutdowns, meaning demand for scrap is low. One trader in Europe was anticipating a push in September from mills for lower...Read More
The inter-merchant spot market for light iron scrap in the UK was unchanged in the week to Friday July 31, with prices remaining firm and expectations of increases to come, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?85-95 ($111-124) per tonne on Friday.Material availability kept the p...Read More
China's hot-rolled coil prices remained firm on Friday July 31 amid continuous supply shortages in the east of the country, sources told Fastmarkets.DomesticEastern China (Shanghai): 3,970-4,000 yuan ($567-571) per tonne, up 20-30 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,740-3,770 yuan per tonne, down 50-60 yuan per tonneSellers were offering material at around 3,970 yuan per...Read More
There was strong demand in London Metal Exchange zinc during the Asia trading hours on Friday July 31, causing the three-month price to rise by 1.3%, while an easing of LME tin's forward curve prompted similar buying momentum over the morning. Zinc's outright price on the LME was recently at $2,320 per tonne, breaking through nearby resistance and improving from Thursday's closing price of $2,286....Read More
Some hesitation in the base metals prices on Thursday was short-lived, with all the prices up this morning on Friday July 31 by an average of 0.5%, with stronger economic data out in Asia, earlier in the day, which boosted sentiment. China's manufacturing purchasing managers index (PMI) for July climbed to 51.1 from 50.9 in June. Japan's preliminary industrial production climbed 2.7% in June, afte...Read More
The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $13.75-14.20/lb on Friday July 31, 2020. Bid at $13.80...Read More
The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
A summary of Glencore's production results for the half year ended June 30, as stated in the company's latest half year report released on Friday July 31. In brief Glencore attributable ferro-chrome production fell by 42% year on year in the first half of the year due to production disruptions in South Africa following the national Covid-19 lockdown during March and April. Smelting operation...Read More
European monthly grade-304 alloy steel surcharges for August have increased slightly from July's values because of higher nickel costs, Fastmarkets heard on Friday July 31.Fastmarkets' stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe was calculated at ?,?1,345-1,367 ($1,586-1,612) per tonne on Friday, up by ?,?16-24 per tonne from the July range.The average nick...Read More
A slight increase in European monthly grade-304 alloy steel surcharges for August is unlikely to result in higher transaction prices for finished stainless steel products because of a weak underlying market, Fastmarkets heard on Friday July 31.Grade-304 surcharges have increased on higher nickel costs but by relatively modest amounts, with Fastmarkets' stainless steel cold-rolled sheet 2mm grade 3...Read More