Russian billet offers follow scrap price rise but buyers stay away
Offers for Russian billet exports increased substantially on Monday July 4 on higher steel scrap and rebar prices in Turkey, sources told Fastmarkets.
Offers for Russian billet exports increased substantially on Monday July 4 on higher steel scrap and rebar prices in Turkey, sources told Fastmarkets.
Base metal prices on the London Metal Exchange were mixed across the complex at the 5pm close on Monday July 4, with a public holiday in the United States.
Turkish steelmakers continued to add deep-sea steel scrap cargoes to their August inventory at higher prices, market sources told Fastmarkets on Monday July 4.
Hot-rolled coil prices across Europe were broadly stable on Monday July 4, despite the continuing lack of activity but with market participants questioning the price floor, sources told Fastmarkets.
Turkey’s imports of flat steel dropped by 12.27% year-on-year in May to 728,108 tonnes, according to the Turkish Statistical Institute (TÜIK).
The alumina market is weighing up the impact the closure of the United States-based Century Aluminium smelter could have on the Atlantic versus Pacific alumina differential, if higher supply eases tightness in the region, Fastmarkets heard.
Turkish domestic scrap prices increased over the past week due to a rise in imported scrap values and a strengthening long steel market, sources told Fastmarkets on Monday, July 4.
Manganese alloys markets in Europe and India dropped during the week to Friday July 1, in line with demand from the steel sector where the seasonal summer slowdown has started and is expected to last into August, industry sources told Fastmarkets.
Volcan Cia Minera SAA’s Vanessa Aita will leave her position as commercial manager after 10 years with the Peru-based zinc and lead producer.
Manganese ore prices, for both higher and lower grades in the seaborne market, fell in the week to Friday July 1, with sentiment weakening among consumers amid falling portside prices.
Efforts by Europe to develop a regional battery materials supply chain could be derailed by a pending ruling on whether to classify lithium as “toxic,” according to a number of leading industry associations.
Bonded stocks of base metals diverged in June, with copper up slightly, and aluminium and zinc continuing to slide.
Seaborne coking coal prices were largely down on Monday July 4 in a quiet market, with sentiment relatively bearish, sources told Fastmarkets.
Seaborne iron ore prices fell further on Monday July 4 amid limited demand in the short-term outlook and downbeat market sentiment, sources told Fastmarkets.
Ganfeng Lithium says it received a notice of case filing from the China Securities Regulatory Commission (CSRC) on Friday July 1 over suspicions of insider trading of an A-share listed company’s shares, the Chinese lithium producer said on Monday July 4.
The pace of decline in European hot-rolled coil prices slowed significantly in the week to Friday July 1, with the floor almost in sight, sources told Fastmarkets.
China’s hot-rolled coil prices fell sharply on Monday July 4 after those for steelmaking raw materials fell further on expectations of weaker demand resulting from scheduled output cuts.
Spot prices for imported rebar into Singapore slipped further during the week to Monday July 4 amid low offers from Malaysia and weak buying sentiment from downstream end users.
Typhoon Chaba disrupted transportation in China and sapped domestic demand for rebar over the past few days, resulting in prices for the long steel product falling on Monday July 4.
Base metals prices on the London Metal Exchange had a mixed start to the week on Monday July 4, with nickel the strongest performer, climbing 4.9%.
Key data from Fastmarkets’ weekly pricing session in Shanghai on Friday July 1.
Chinese steel scrap import prices fell in the week to Friday July 1, with offers from main supplier Japan declining sharply, while domestic scrap prices stabilized due to recovering finished steel prices, sources told Fastmarkets.
The latest data for the global manganese ore market for the week ended July 4, 2022.
Seaborne iron ore concentrate, and pellet prices rose at the week ending on Friday July 1 tracking the uptick on the iron ore fines segment, market sources said.
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