Sanjeev Gupta, Executive Chairman of steel and aluminium investment company GFG Alliance, will head the roster at the London Metal Exchange's virtual seminar this year, the LME announced on August 28.The virtual seminar will start on Monday October 19, 2020 and replaces the annual LME week gathering of metal market participants in London, which has been canceled amid the Covid-19 pandemic.Gupta ha...Read More

Daily PDFs will be downloadable until Monday August 31. After that, because of the UK's Summer bank holiday, the next daily PDF will be downloadable on Wednesday September 2.Read More

Hot-rolled coil prices in the United States have risen above $25 per hundredweight ($500 per short ton) for the first time since mid-June thanks to a recent round of price increases bolstered by healthy demand. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.03 per cwt ($500.60 per ton) on Friday August 28, up by 0.5% from $24.90 per cwt on Thursday August 27 and...Read More

Prices for domestic steel beams in the United States were flat on Thursday August 27, while prices for imported products fell for a second month in a row on weakening demand, sources said.Fastmarkets' assessment for steel beams 8 x 8-inch, fob mill US held at $35.25 per hundredweight ($705 per short ton) on Thursday, unchanged for a fourth consecutive month.Most sources reported that demand was st...Read More

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European distributors of flat steel products reported a 16.50% year-on-year drop in shipment volumes in June, regional steel industry association Eurometal said on Friday August 28.The decrease was less than an earlier fall in May of this year, when shipments dropped by 38.50%.In the first half of 2020, shipment volumes of flat steel products from European steel service centers dropped by 21.8% ye...Read More

Export billet prices from the Commonwealth of Independent States region strengthened week on week, supported by rising prices in the scrap segment and the revival of customer interest, particularly in North Africa.A cargo of CIS-origin billet was reported sold to Tunisia in the middle of the week at $425 per tonne cfr, which would net back to $400-402 per tonne fob Black Sea, according to market s...Read More

Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day on Friday August 28, although the region's steelmakers continue to push for further price increases, sources told FastmarketsFastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?450.45 ($532.53) per tonne on Friday August 28, up by just ?,?0.56 per tonne day on da...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening tradeU.S. equity indices were virtually unchanged following release of economic news at 8:30 AM. Consensus for July Personal Income was an ease of 0.2% versus a decline of 1.1% in June. Actual was a gain of 0.4% Consensus for July Personal Spending was an increase of 1.5% versus an increase of...Read More

Brazil's pig iron export market was active during the week to Friday August 28 amid new sales to China.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $340-350 per tonne on Friday, widening from $343-348 per tonne one week earlier. ...Read More

Negotiations resumed in the import pig iron market in the United States during the week to Friday August 28, but no deals have yet been concluded.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US rose to $355-360 per tonne on Friday, up by $15 from $340-345 per tonne a week before."All key buyers appeared in...Read More

The key global scrap markets improved in terms of both sentiment and prices in the week to Friday August 28, after Turkey resumed its deep-sea cargo purchases following a three-week hiatus.Turkey continues to book deep-sea cargoesUS sees liquid activity in spot export marketVietnamese buyers remain keen on bulk cargoes from US West CoastTaiwanese buyers see slowdown in price upswingIndia sentiment...Read More

The market for pig iron exports from the Commonwealth of Independent States was firm over the week to Thursday August 27 on resumed sales to China. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $335-343 per tonne on Thursday, narrowing upward from $330-343 per tonne the week before.A sale of Russia-origin pig iron was repo...Read More

The price of containerized ferrous scrap imports into India inched higher over the past week, following jitters in the market last week brought on by Turkey's scrap-buying hiatus, sources told Fastmarkets on Friday August 28.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $310.41 per tonne on Friday, inching up from $309.47 per tonne last week.Last week,...Read More

The price of grade-316 stainless steel scrap imported to Europe increased sharply on tight supply in the week to Friday August 28, sources told Fastmarkets.Fastmarkets' weekly price assessment of stainless steel scrap 316 solids import, cif main port Europe was ?,?1,420-1,440 ($1,679-1,702) per tonne on Friday, up by ?,?50 per tonne from ?,?1,370-1,390 per tonne a week earlier. One trader sai...Read More

Turkish steel producers made no deep-sea bookings on Friday August 28, after booking several cargoes earlier in the week, sources told Fastmarkets.Six deep-sea cargoes totalling around 220,000 tonnes were booked by Turkish steelmakers from various sources at strengthening prices this week. After a hiatus of more than two weeks earlier this month, the steel producers resumed their deep-sea scrap bo...Read More

Seaborne iron ore prices rose on Friday August 28 amid concerns over logistics which have been limited by precautions taken by Chinese ports against typhoon Bavi, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.37 per tonne, up $2.15 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, up $2.47 per tonne. 58% Fe fines high-grade premium, cfr Q...Read More

There was little to no movement in seaborne coking coal prices on Friday August 28 and sources from China said they expect the cfr market to be soft for another month. Fastmarkets indices Premium hard coking coal, fob DBCT: $105.90 per tonne, down $0.02 per tonne Premium hard coking coal, cfr Jingtang: $114.71 per tonne, up $0.01 per tonne Hard coking coal, fob DBCT: $85.27 per tonne, down $0.25 p...Read More

The London Metal Exchange three-month nickel price continued to gain during the morning session on Friday August 28, trading up 1.2% from the previous day's close at $15,340 per tonne, its highest since November 2019.Often considered a proxy for the Asian markets, nickel has continued to trend higher of late on near-term demand from China's industrial sector and ongoing speculative rhetoric from t...Read More

An overview of the minor metals markets and the reasons for any price moves.Read More