Hot-rolled coil prices in the United States have fallen below $23 per hundredweight ($460 per short ton) amid pessimistic outlooks on both demand and ferrous scrap pricing following a surge in Covid-19 infections across the country, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $22.90 per cwt ($458 per ton) on Friday July 17, down by 2....Read More

Markets were mixed across the board this morning, Friday July 17, while traders consolidate recent gains. Key will be how well prices manage to hold up.The base metals traded on the London Metal Exchange were all down, but only by an average of 0.3%, while the base metals on the Shanghai Futures Exchange were mixed, but down by an average of 0.2% * A European Union summit is underway today to try...Read More

Domestic steel rebar prices in Poland widened downwards in the week to Friday July 17, with buyers pushing for lower numbers despite all major producers having no July tonnages left, sources told Fastmarkets.Demand for rebar in Poland was slightly slower this week and buyers were bidding lower citing problems passing their costs downstream. Most major producers, including ArcelorMittal Warszawa, C...Read More

Export prices for Brazil-origin slab remained unchanged in the week ended Friday July 17, but cost pressure and steady demand could boost prices for future deals, sources said.Fastmarkets assessed the price of steel slab, export, fob main port Brazil at $375-380 per tonne fob.Most recent deals were reported to China at $415 per tonne cfr, equivalent to $375 per tonne fob. But offers of at least $3...Read More

Prices for domestic hot-rolled coil in Northern Europe increased day on day on Friday July 17, supported by lack of competitive import offers, sources told Fastmarkets. Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe rose by ?,?2.20 to ?,?407.53 ($464.61) per tonne on Friday July 17, from ?,?405.33 per tonne on July 16. Friday's index was based on deals heard at...Read More

Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism. According to European steel association Eurofer, imports of rebar from outside of EU in January-April 2020 totaled 370,514 tonnes, down by 37% from 589,428 during the corresponding period of 2019. At...Read More

Paccar (PCAR), a NASDAQ 100 stock moved above $79.48 extending an intermediate uptrend.Global Timber iShares (WOOD) moved above $58.93 extending an intermediate uptrend. Magna International (MG), a TSX 60 stock moved above Cdn.$64.70 extending an intermediate uptrend.Pre-opening Comments for Friday July 17thU.S. equity index futures were higher this morning. S&P 500 futures gained 20 points in...Read More

Pig iron export prices from the south of Brazil rose again during the week to Friday July 17 on a new sale to China. Fastmarkets' price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $320 per tonne on Friday, up from $307-315 per tonne a week earlier.One new cargo was reported to be sold to an...Read More

The pig iron market in the United States was silent during the week ended Friday July 17, with prices considered high compared with those for ferrous scrap and hot-rolled coil.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US was unchanged at $330 per tonne on Friday, in line with the latest deal done in the market during the week to July 10.No interest was rep...Read More

Turkish steel producers continued their deep-sea scrap purchases at the end of the week at slightly higher prices, sources told Fastmarkets on Friday July 17.A steel mill in Northern Turkey booked a Baltic Sea cargo, comprising 8,000 tonnes of HMS 1&2 (80:20) at $260 per tonne, 14,000 tonnes of shredded at $265 per tonne and 4,000 tonnes of bonus at $270 per tonne cfr.Another steel mill in the Izm...Read More

Brazilian steelmaker and iron ore producer Companhia Sider??rgica Nacional (CSN) has signed a new agreement with Glencore to supply 4 million tonnes of iron ore over five years with a $115 million pre-payment, the company said on Thursday July 16.This marks the third time CSN and Glencore have agreed terms for iron ore supply pre-payments since February 2019. The Brazilian company has sought such...Read More

The price of ferrous scrap imported into India in containers remained firm on Friday July 17 because of restricted material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $281.46 per tonne on July 17, up from $279.17 per tonne a week earlier.No deals were heard on the market this week, although offers were in the ra...Read More

The inter-merchant spot market for light iron scrap in the UK moved up over the week ended Friday July 17 after being unchanged since June 12, with tighter supplies for delivery into yards seeing higher prices, industry sources said.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was up by ?5 per tonne to ?85-95 ($107-119) per ton...Read More

Seaborne premium prices decreased on Friday July 17 due to bearish sentiment in the market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.50 per tonne, down $1.72 per tonne Premium hard coking coal, cfr Jingtang: $117.61 per tonne, down $0.35 per tonneHard coking coal, fob DBCT: $89.09 per tonne, down $2.24 per tonneHard coking coal, cfr Jingtang: $100.02 per tonne, down...Read More

Declining copper stocks at London Metal Exchange-registered warehouses are not an indicator of improving demand conditions in Europe, according to industry participants, with the LME's recent off-warrant stock publication showing the extent of surplus supply in the region.Deliverable LME copper stocks in Rotterdam have fallen by 55.9% so far this month, declining from 67,225 tonnes on-warrant on J...Read More

Seaborne iron ore prices fell on Friday July 17 amid limited trading activity for the mid- and high-grade fines segment due to the current high prices, according to trade sources. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $110.31 per tonne, down $1.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $112.33 per tonne, down $0.72 per tonne. 58% Fe fines high-grade premium, cfr Qingda...Read More

Import demand for hot-rolled coil in China declined in the week ended Friday July 17 after Indian sellers kept their offers at high levels. Domestic prices were largely stable during the day.DomesticEastern China (Shanghai): 3,870-3,900 yuan ($553-558) per tonne, widening downward by 10 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,770-3,800 yuan per tonne, up 50 yuan per tonneSel...Read More

London Metal Exchange three-month base metals prices were mostly subdued during morning trading on Friday July 17, with a record daily surge in US coronavirus cases weakening investor sentiment, while copper futures managed a slight improvement despite thin volumes and a tight forward curve. LME copper's outright price was recently at $6,406 per tonne, sustaining above nearby support levels and up...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...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...Read More