Prices for flat steel imports into the United Arab Emirates and Saudi Arabia were stable in the week ended Tuesday August 6, with demand weak because of the upcoming Eid al Adha religious holiday next week.The market was expected to improve in the second half of August, when the eid, and the Hajj pilgrimage and holiday seasons, will almost be over.Some deals were placed last week, so buyers did no...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets due to the persistent weak demand for finished long steel products, sources said on Tuesday August 6.Since the mills in the country booked a number of deep-sea cargoes in the week ended July 26, they have made no further purchases.Turkish steel producers want to sell some rebar before making any further deep-sea...Read More
The Midwest aluminium premium in the United States moved to its lowest level in nearly 17 months on Tuesday August 6, with buyers remaining detached from the spot market. Fastmarkets' assessment of the aluminium P1020A premium, ddp Midwest US, edged down to 17.5-18 cents per lb on August 6, down from 17.75-18.25 cents per lb previously, where the premium had held since mid-July.The premium has bee...Read More
The benchmark secondary aluminium alloy A380.1 price in the United States fell to a new low on Monday August 5, with the market pressured by a handful of producers continuing to aggressively compete for sales amid slowing die-caster orders.Fastmarkets' price assessment for aluminium alloy A380.1, delivered Midwest, declined to 65-68 cents per lb on August 5, down from 66-70 cents per lb in the pre...Read More
Prices for some aluminium scrap grades have continued to move lower, particularly the mill grades, due to a decrease in primary metal on the London Metal Exchange, sources said on Monday August 5."I would say prices have dropped a penny or two below [for mill grades]. I do think that smelter prices are dropping again also," one aluminium scrap seller said. "I don't know that we have seen a bottom...Read More
A recovery in the exchange rate between the Chinese offshore yuan and the US dollar helped to steady base metal futures in London on Tuesday August 6, after heavy losses in preceding days, although the price of copper, the complex leader, remained on a downtrend.At $5,683 per tonne on Tuesday, the price of copper, 3 months, London Metal Exchange Daily Official, was down by $2 per tonne from the cl...Read More
Switzerland-based commodities trader Werco Trade has hired metal concentrates trader Theresa Nepote as part of a push to expand the company's commercial capabilities, it said on Tuesday August 6.Nepote will join Werco as a senior trader, enabling the company to diversify into additional markets, the company said. She most recently traded zinc, lead and copper concentrates at Bluequest Resources an...Read More
UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base nearby, sources close to the matter told Fastmarkets on Tuesday August 6.Market participants said that a fire broke out at a nearby military base and an explosion was heard, which led Rusal - the largest aluminium producer outside China - to suspend its operations at...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 6 that are worth another look.Lithium producer Orocobre and joint-venture partner Toyota Tsusho Corp have started construction on what will be the first lithium hydroxide plant in Japan. UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base...Read More
Brazilian automotive output totaled 266,371 units in July, increasing by 8.4% from 245,641 units in the corresponding a year before, with the domestic market showing continued signs of strength, vehicle manufacturers' association Anfavea said on Tuesday August 6.New locally produced vehicle registrations totaled 218,492 units in the month, up by 14.9% compared with 190,151 units in July 2018. Grow...Read More
Prices for rebar imported into the United Arab Emirates have decreased over the past week, with demand only moderate although some deals were heard, sources said on Tuesday August 6.The lower price for imports was because market participants in the Middle East region will be celebrating the Eid al Adha religious holiday most of next week, so some deals were made at discount prices.Domestic rebarLo...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District, decreased over the week ended Monday August 5 because of increased supplies.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Moscow, Russia, including 20% VAT, was 40,000 roubles ($612) per tonne on Monday, down from 41,000-41,500 roubles per tonne a week before."The demand is s...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: hot-rolled coilHot-rolled coilEast China, domestic,...Read More
The price of hot-rolled coil in China continued to drop on Tuesday August 6, with sentiment showing a bearish attitude toward price trends.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($525-526) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,730 yuan per tonne, down 20 yuan per tonneTrading was moderate, even if sellers did cut prices, a Shanghai-based trader said.Mills in the...Read More
Seaborne coking coal prices softened further on Tuesday August 6 with bearishness extending amid limited buying from traders. A cargo of premium mid-vol product with laycan in the second half of August traded recently at $164 per tonne cfr China, sources told Fastmarkets on Tuesday. This compared with similar materials heard sold at $165.50-166 per tonne cfr around the past weekend. A top-brand ca...Read More
Seaborne iron ore prices continued to retreat on Tuesday August 6 with sellers still more pressured than buyers to complete deals. Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $97.55 per tonne, down $3.01 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $96.05 per tonne, down $3.01 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines,...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreRio Tinto, bilateral sale, 170,000 tonnes of 62% Fe Pilbara Blend...Read More
The imported steel billet market in Algeria is expected to become tighter by the end of the year amid the development of local production capacities, sources told Fastmarkets."The [import billet market] is very close. It's not easy to do business with the two majors buyers of billet [Tosyali and Algerian Qatari Steel (AQS)]. Besides, Tosyali is working with [direct reduced iron] DRI and AQS will w...Read More
Brazilian iron ore exports fell by 4.7% on the year in July, with Vale's successful resumption of some of its suspended operations slowing the rate of decrease in comparison with those a few months earlier, data released last week by Brazil's ministry of economy showed.The country exported 34.27 million tonnes of the steelmaking raw material last month, compared with 35.96 million tonnes a year ea...Read More
Physical tin market participants disagree over the next move in the price, with some telling Fastmarkets that it could rebound after a slide of more than 12% over the past two months although weak demand and erratic stock moves continue to dent momentum. On the London Metal Exchange, the three-month tin price has fallen by 12.7% since June 5 from above $19,000 per tonne. The price is also down by...Read More