Domestic prices for hot-dipped galvanized coil in Northern Europe increased in the week to Wednesday October 28, supported by reduced availability of the material in the spot market and strong demand from the automotive sector, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?600-620 ($709-733) per tonne ex-works on October 28,...Read More
Domestic prices for heavy steel plate went down in Europe in the week to Wednesday October 28 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?450-465 ($532-549) per tonne on October 28, down by ?,?5-10 per tonne from ?,?460-470 per tonne.The assessment reflected offers and achievable prices heard i...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 28 that are worth another look.Both the North American and Brazilian markets have strong growth potential stemming from infrastructure-related activity, Gerdau's global chief financial officer Harley Scardoelli told attendees at Fastmarkets' 2020 Steel Success Strategies Online conference on October...Read More
Brazilian flat and long steel producer Gerdau is optimistic about the country's steel demand in 2021, chief executive officer Gustavo Werneck said on Wednesday October 28."We are foreseeing a growth of steel demand somewhere between 6-8% [in 2021] compared with 2020," Werneck said. Brazilian apparent steel consumption is expected to fall by 4.7% this year, to 20 million tonnes from 20.98 million t...Read More
The price of mesh-quality steel wire rod has been broadly stable in Southern Europe over the past week, despite reduced buying activity caused by growing uncertainty over further Covid-19 lockdowns in the region. Short supplies and good producer order books were supporting prices, sources told Fastmarkets on Wednesday October 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-qu...Read More
A Turkish steel mill booked a mixed Baltic Sea scrap cargo at higher prices late on Tuesday October 27, confirming this week's upward price trend, sources told Fastmarkets on Wednesday.The Baltic Sea cargo, booked late on Tuesday evening, comprised 9,000 tonnes of HMS 1&2 (80:20) at $292.50 per tonne, 8,000 tonnes of shredded at $297.50 per tonne and 4,000 tonnes of bonus at $302.50 per tonne...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Seaborne iron ore prices were up on Wednesday October 28 amid an uptrend in the futures market, which was prompted by low steel reinforcing bar (rebar) inventories, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.87 per tonne, up $1.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.10 per tonne, up $1.09 per tonne58% Fe fines high-grade premium, cfr Qing...Read More
Activity in the Iranian export market for steel billet remained subdued in the week ended Wednesday October 28 because mills booked significant tonnages with traders in earlier weeks.There have been few offers from mills, with the rare price indications coming at $410 per tonne fob, but no fresh bookings were reported this week.Traders, meanwhile, sold a cargo of Iranian billet to Indonesia at aro...Read More
China's domestic rebar prices moved up on Wednesday October 28, following futures gains prompted by the expectation of lower inventories next month.DomesticEastern China (Shanghai): 3,730-3,760 yuan ($556-561) per tonne, up by 30 yuan per tonneMarket participants said their inventories had dropped gradually over the past two or three weeks on good end user demand.Rebar stock in one of big reb...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 28.Key driversThe ferro-titanium market in Europe climbed further over the week, adding to a steady run of gains since August 19 when the market was assessed at $3.30-3.85 per kg ddp. Steady demand and competition from overseas buyers in India and China have supported the rally in recent weeks, while persistent scrap tightne...Read More
The prices for hollow steel sections in Europe have remained unchanged this week but further rises were expected soon, market sources told Fastmarkets on Wednesday October 28.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?630-650 ($744-768) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil, the feedstock for sections...Read More
The steel industry must innovate further and look to other sectors for solutions, Tata Steel chief executive TV Narendran said during Fastmarkets' Steel Success Strategies 2020 virtual conference on Wednesday October 28.Traditionally, the industry has been more focused on continuous improvement than on innovation, Narendran said, having pushed for efficiency improvements and incremental performanc...Read More
Demand for steel in the European Union dropped by 25% year on year in the second quarter of 2020 and while European steel association Eurofer expects the pace of decline to slow in the fourth quarter, it believes demand will not recover until late 2020-early 2021. Unprecedented steel demand deterioration in the region started in late 2019 and has continued into the first quarter of 2020, with Covi...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Several large steel projects located in Southeast Asia, underpinned by Chinese investment, are nearing completion and will provide a huge boost to production capacity in the region. Of the 59.9 million tonnes of major carbon steel production capacity planned to come on stream in the next decade in Southeast Asia, 39.4 million tonnes will come from Chinese-led projects, according to statistics from...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 28 that are worth another look.Both the North American and Brazilian markets have strong growth potential stemming from infrastructure-related activity, Gerdau's global chief financial officer Harley Scardoelli told attendees at Fastmarkets' 2020 Steel Success Strategies Online conference on October...Read More
Hot-rolled coil prices in the United States declined for the second consecutive day due to diminishing spot market activity and a lack of availability from steel producers, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $33.52 per hundredweight ($670.40 per short ton) on Wednesday October 28, down by 1.1% from $33.89 per cwt on Tuesda...Read More
Premiums for lead in India have risen amid calls for increased regional production in the week to Tuesday October 27, while lead and zinc premiums in other regions remained flat over the period, despite increased spot-market interest in both the United States and Europe.Increased demand for industrial production boosts Indian lead premiumUS zinc and lead premiums unmoved despite improved spot appe...Read More