Domestic prices for steel rebar in Russia’s Central Federal District around Moscow narrowed upward by 2,000 roubles ($27) per tonne in the seven days to Monday August 16.

Domestic prices for hot-rolled coil declined in Northern Europe and Italy in the week ended Friday August 13 due to low demand during the summer holiday slowdown.

Fastmarkets has identified a necessary clarification to the nickel sulfate specification with regard to timing of loading.

Fastmarkets today launches two daily indices for cfr China ferrous scrap prices, reported on a US-dollar-per-tonne basis.

Fastmarkets proposes to increase the frequency of its China import steel billet price from once to twice each week because of continued price volatility in the market.

Aluminium premiums in Japan dropped by an average of $2.50 per tonne to $175-190 per tonne on Friday August 13, from $180-190 per tonne on August 10, with low buying interest weakening demand in recent weeks.

Global commodity prices are expected to stay high in the short term and China will continue to take measures to ensure supplies and stabilize prices, China’s National Bureau of Statistics said on Monday August 16.

Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.

The price of shredded steel scrap into Pakistan and India diverged on Friday August 13 with Pakistan reporting restocking behaviour while demand in India remained low, sources told Fastmarkets.

The union at Escondida and BHP, the Chilean copper mine’s majority shareholder and operator, have agreed to extend wage negotiations until Friday August 13, so a deal can be signed and a strike averted.