The bullish momentum in China's stainless steel market in the first half of 2021 will likely extend into the third quarter, which would underpin prices for upstream products such as nickel pig iron (NPI) and ferro-chrome, market participants say.But several mills' plan to put new capacity into operation could weigh on prices in the fourth quarter, which would affect the upstream market for these r...Read More

Nearby lead spreads are again in backwardation, with the metal's futures continuing to trade at a discount to cash prices on the London Metal Exchange on July 5.The LME's cash-three month spread is currently backwardated at $19 per tonne although cash-July and cash-August remain in small contangos.The LME three-month lead price has gained $12 from Friday's 5pm close to $2,312 per tonne."It's causi...Read More

ArcelorMittal will invest 750 million Reais ($148 million) in projects to strengthen environmental controls at its Tubar??o slab and hot-rolled coil facility in Brazil's southeastern state of Esp?-rito Santo.The investment will be part of a deal signed in 2018 with state and federal authorities, in which the company committed to a series of operational actions and investments intended to...Read More

The platform uses sources including satellite data to monitor up to 90% of global copper smelting capacity and is now also monitoring 96% of global nickel smelting capacity.June was traditionally a seasonally strong month for nickel, yet its global activity dispersion index was 49.8, the lowest reading for the month over the past five years, according to SAVANT.However it said the China Nickel Pig...Read More

Pakistan's government has removed some duties on imports of hot-rolled and stainless flat steel in its annual budget for 2021-2022, the Karachi Iron & Steel Merchants Association told Fastmarkets on Monday, July 5.The government made the announcement in its latest official budget statement, having suggested that it was a possibility on June 11.The annual budget was approved on June 29, and came in...Read More

Brazilian slab prices remained stable for the fourth consecutive assessment period in the week ended Friday July 2, with buyers and sellers continuing to dispute the price level.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil, was $980-1,000 per tonne fob on July 2, unchanged since June 4.A little activity was seen during the week, with the market beginning to transitio...Read More

Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.Markets taking comfort from Friday’s US employment report. But markets likely to be quiet today with the United States celebrating Sunday’s Independence Day.Base me...Read More

Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely stable in the week to Monday July 5, aided by solid demand from construction.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 72,500-75,000 ($990-1,024) roubles per tonne on Monday, including 20% value-added tax, unchanged from last week.High const...Read More

The domestic market for flat steel in Russia's Central Federal District around Moscow was broadly stable during the week to Monday July 5, with trading remaining slow amid expectations that prices will decline in July due to the effects of export duties, sources told Fastmarkets.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 105,00...Read More

July 3rd 2021The following notes were developed prior to my interview on Michael Campbell's Money Talks radio show on CKNW on Saturday. Trader's outlook for North American equity marketsSeasonal influences for North American equity markets are positive in the month of July (particularly in a Post-U.S. Presidential Election year). Strength is Post-U.S. Presidential Election years is related to...Read More

Turkish deep-sea scrap import markets were quiet on Monday July 5 with mills reluctant to buy scrap amid limited finished steel demand, while suppliers kept offers firm, market sources told Fastmarkets.Steel producers in Turkey booked four deep-sea cargoes last week, three of which were booked by a single steel mill.The most recent deep-sea transaction put the heavy melting scrap 1&2 (80:20) price...Read More

Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More

Iron ore prices were up on Monday July 5 with market sentiment improving because of the easing of restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.82 per tonne, up by $3.84 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.14 per tonne, up by $3.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184...Read More

Seaborne coking coal prices were largely stable in the cfr market on Monday July 5, but surged in the fob market due to some buyers starting purchase material to restock, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $203.20 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $307.85 per tonne, up $0.27 per tonneHard coking coal, fob DBCT: $173.42...Read More

China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.The country imported 1.17 billion tonnes of the iron ore last year, an increase of 9.4% compared with 2019.European Union countries collectively accounted for the largest decrease among major iron ore importers, with purchases tumbling 20.8% year on year...Read More

Fastmarkets invited feedback from the industry on the pricing methodology for steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne (MB-STE-0464), via an open consultation process between June 1 and July 1, 2021.This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period and therefore no...Read More

Prices for seaborne iron ore pellets and concentrate rose in the week ended Friday July 2, albeit at a slower pace than a week earlier amid temporary restrictions on sintering and blast furnace operations in certain parts of China.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $62 per tonne, unchanged65% Fe blast furnace pellet, cfr Qingdao: $301.21 per tonne, up...Read More

Vale has completed maintenance on its ship loader CN6 at its Ponta da Madeira port terminal in the northern Brazilian state of Maranh??o, which caught fire in January, it said on Friday July 2.The miner has started the commissioning of the ship loader after a five-month maintenance, in line with its schedule announced earlier this year.It has replaced more than 60% of the components of the ship lo...Read More

Hot-rolled coil prices across China's domestic market cruised higher on Monday July 5, with the futures market riding an upward wave across the ferrous complex. DomesticEastern China (Shanghai): 5,500-5,540 yuan ($851-858) per tonne, up by 60-70 yuan from 5,430-5,480 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange gained more than 1% to end the day at 5,494 yuan per t...Read More

China's domestic rebar prices increased on Monday July 5 amid higher trading activity and stronger futures prices.DomesticEastern China (Shanghai): 4,870-4,900 yuan ($754-759) per tonne, up by 40 yuan per tonneMarket participants expect steel production to drop in the second half of this year to meet a target set late last year by the Chinese Ministry of Industry & Information Technology (MIIT).Th...Read More