Carbon steel plate prices in the United States were stable on Friday October 22 but are expected to go up next week, since Nucor announced a price increase Friday that market participants believe will be accepted.Fastmarkets' cut-to-length plate, fob mill US price was assessed at $89 per hundredweight ($1,780 per short ton) on Friday, flat since October 1 and at an all-time high.Inputs ranged...Read More
Hot-rolled coil prices in the United States ended the week by sliding to their lowest level since late August, with more uncertainty fogging the market outlook.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.39 per hundredweight ($1,907.80 per ton) on Friday October 22, down by 0.82% from $96.18 per cwt on Thursday October 21 and down by 0.08% from $95.47 per cwt...Read More
South American flat-rolled steel import prices had no clear trend in the week ended Friday October 22, with a few Chinese offers issued at higher levels being countered by less expensive material from other origins.Prices from Russia and Brazil continued to provide headwinds to the overall import market amid falling costs for iron ore and slab, market participants said. One mill source recalled th...Read More
Indian domestic prices for steel hot-rolled coil have risen by about 1,500 rupees ($20) per tonne in the week to Friday October 22, with most mills announcing price rises.Mills raised their HRC prices with demand increasing on active restocking by traders and a sharp increase in spot prices.Mills had raised their domestic HRC prices by about 1,000 rupees per tonne in the second week of October.The...Read More
Coated steel coil prices in Turkey jumped again during the week to Friday October 22 and some producers are no longer accepting new orders, sources told Fastmarkets.Some coated coil producers have stopped accepting orders because of the sharp rise in the price of hot-rolled coil, the base product for coated coil.Fastmarkets' assessment of steel hot-rolled coil, domestic, exw Turkey was $900-930 pe...Read More
Hot-rolled and cold-rolled coil prices continued to surge in Turkey during the week to Friday October 22, supported by strong demand, sources told Fastmarkets.Flat steel prices started increasing in Turkey last week following the spike in scrap prices.Scrap prices have increased further over the past week, with Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr...Read More
Ferrous scrap prices in the global markets continued to strengthen in the week ended Friday October 22 amid firm demand and tight supply. Turkish steel mills continued to pay higher prices for deep-sea scrap cargoes, while buyers in Southeast Asia had to raise their bids because of limited supply.?EUR?Turkish steel mills end the week with five deep-sea cargo trades, prices up?EUR?Tight supply in t...Read More
The price for grade 18/8 alloy steel scrap increased due to higher nickel costs, while underlying market fundamentals remained stable, sources told Fastmarkets on Friday October 22.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,340-1,440 ($1,850-1,988) per tonne on Friday, up by ?10-40 per tonne from ?1,330-1,400 per tonne the...Read More
The inter-merchant market for light-iron steel scrap in the United Kingdom moved higher over the week to Friday October 22 amid tight domestic supplies and strong export markets into both deep-sea and short-sea destinations, trade sources told Fastmarkets.The market has rebounded to match an annual peak of ?195 ($269) per tonne last seen in July when the price range was ?180-195 per tonne. Scrap...Read More
Prices for shredded steel scrap imported into Pakistan and India moved up on Friday October 22, as lively trading continued, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $557.48 per tonne on Friday October 22, up from $546.22 per tonne.Deals were heard at $552, $558 and $560 per tonne this week, up from a deal...Read More
Turkish steel producers made another deep-sea scrap booking late on Thursday October 21, taking the total for the week to five cargoes from various locations and at increasing prices, market participants told Fastmarkets on Friday October 22.A steel mill in the Iskenderun region booked a United States cargo comprising 27,000 tonnes of heavy melting scrap 1&2 (80:20) at $505 per tonne cfr late on O...Read More
Prices achieved in export deals for pig iron from the Commonwealth of Independent States region continued to rise in the week to Thursday October 21, supported by limited allocations of material and bullish expectations for the future price trend.A large volume of pig iron originating from eastern Ukraine was sold at $530 per tonne fob Black Sea to several traders early this week, Fastmarkets hear...Read More
Seaborne prices for low-volatility pulverized coal injection material (PCI) in both the fob and cfr markets in China have increased because of persistently tight supply, Fastmarkets heard on Friday October 22.A trade was finally heard in the fob spot market on Friday. And China's National Development & Reform Commission (NDRC) held a meeting during the morning to work out plans to tackle high coal...Read More
Seaborne iron ore prices corrected upward on Friday October 22 after a sharp decrease on Thursday amid continuous bearish outlook for iron ore demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, up $2.59 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.89 per tonne, up $2.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $92.38 per tonne, up $3.40 per tonne...Read More
Spot prices for hot-rolled coil in China fell sharply on Friday October 22 following the tumble in futures prices on Thursday triggered by Beijing's moves to rein in soaring coal prices.Domestic Eastern China (Shanghai): 5,550-5,600 yuan ($869-877) per tonne, down by 150-160 yuan per tonne Northern China (Tangshan) weekly assessment: 5,550-5,620 yuan ($869-880) per tonne, down by 160-170 yu...Read More
China's domestic rebar prices fell sharply on Friday October 22 following a drop in the futures market, but the lower prices stimulated an increase in buying interest.DomesticEastern China (Shanghai): 5,300-5,350 yuan ($829-837) per tonne, down by 330 yuan per tonneNorthern China (Beijing) weekly assessment: 5,240-5,270 yuan per tonne, down by 360-380 yuan per tonneThe January rebar futures contra...Read More
Base metals prices on the London Metal Exchange mostly rebounded during morning trading on Friday October 22, with aluminium the lone metal in negative territory.Aluminium's volumes were by far the highest this morning, with over 11,500 lots traded by 9.30am London time, compared with just 5,145 lots of copper. Despite closing down by 5% on Thursday, the LME three-month aluminium price continued t...Read More
Base metals prices on the London Metal Exchange were mainly stronger during morning trading on Friday October 22, but those on the Shanghai Futures Exchange were largely down - this follows significant losses on the LME on Thursday.Chinese property giant Evergrande Group makes a dollar bond interest payment.US treasury yields up sharply following better-than-expected US initial jobless claims data...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 22.Jessica Long, Zihao Li and Ruby...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi...Read More