South America flat steel import prices rise as China returns from holiday

South American flat steel import prices rose during the week to Friday May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material from elsewhere was sold at higher levels.

Only a few firm offers were provided to clients in South America, according to market participants. Most were price indications for residual June shipments and initial assessments for shipment in July - all at higher prices than the previous weeks.
"July-shipment negotiations in South America will begin from next week, with another round of price increases expected over rising iron ore prices," a mill source said.

Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, hit an all-time high of $212.25 per tonne on Friday, up by 5.14% from $201.88 per tonne on May 6 and by 12.39% from...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold