Turkish billet prices increased during the week ended October 14 because of the upturn in imported scrap costs, market participants told Fastmarkets.Turkish deep-sea scrap import prices have increased in the past week due to limited supply and firm demand. The most recent deep-sea scrap import trade was reported on Wednesday October 13, when a steel mill in the Izmir region paid $480 per tonne cfr...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy remained fairly stable on Thursday October 14 due to limited trading activity, sources have told Fastmarkets.European mills have been trading reduced volumes of coil and mainly holding back from making big deals. Prices have been under downward pressure from weak automotive sector demand, high stock levels at distributors and substan...Read More
Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operation...Read More
Domestic rebar and wire rod prices increased sharply in the week ended October 14 due to rising scrap costs and a weaker lira, sources said.Turkish deep-sea scrap import prices increased in the past week due to limited supply and firm demand from Turkish steelmakers. The most recent deep-sea scrap import trade was reported on Wednesday October 13, when a steel mill in the Izmir region paid $480 pe...Read More
Turkish long steel export prices increased sharply on rising imported scrap costs, sources told Fastmarkets on Thursday October 14.Turkish deep-sea scrap import prices have been increasing in the reported week due to limited supply and firm demand. The most recent deep-sea scrap import deal was reported on Wednesday, when a steel mill in the Izmir region paid $480 per tonne cfr for 35,000 tonnes o...Read More
There was a mixed outcome in settlement negotiations for domestic steel scrap deliveries to UK steelmakers in October, with suppliers resisting downward pressure from consumers because of firm export markets, trade sources said on Thursday October 14.Scrap suppliers won increases across the board for low residual and clean grades of scrap, with rollovers agreed in contracts for other grades assess...Read More
Turkish steel mills are continuing to book deep-sea scrap at higher prices, market participants told Fastmarkets on Thursday October 14.A steel mill in the Iskenderun region booked a US cargo at $486 per tonne cfr on an HMS 1&2 (80:20) basis. However, the cargo composition was not clear at the time of publication.The previous deep-sea transactions, on Wednesday October 13, were concluded at $480 p...Read More
Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of innovative technologies, it announced on Thursday October 14.Over the past decade, the company has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave techno...Read More
Prices for imported basic pig iron into China increased over the past fortnight amid a shortage of material available from sellers, market sources told Fastmarkets on Thursday October 14. Significant volumes of pig iron sold from the CIS to China in recent months have led to reduced availability for fresh cargoes from the region.A limited number of offers for CIS-origin pig iron were heard in the...Read More
Seaborne iron ore prices rose on Thursday October 14 amid active trading activity in the spot market and at Chinese ports because of a slight increase in buying interest, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $125.91 per tonne, up by $1.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $127.60 per tonne, up by $2.51 per tonne58% Fe fines high-grade premiu...Read More
Seaborne coking coal prices in the cfr China market increased on Thursday October 14 due to necessary restocking activities from Chinese steel mills; fob prices remained largely flat, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $610.15 per tonne, up $1.30 per tonneHard coking coal, cfr Jingtang: $562.53 per tonne, up $3.07 per tonnePremium hard coking coal, fob D...Read More
Spot prices for hot-rolled coil in China narrowed on Thursday October 14, while futures prices edged higher on expectations that production curbs in north China could extend into early 2022.DomesticEastern China (Shanghai): 5,740-5,790 yuan ($892-900) per tonne, narrowing by 40-90 yuan per tonneOn Wednesday, China's industry and environment ministries released the plan for steel production curbs i...Read More
China domestic rebar prices increased on Thursday October 14 on good and steady demand over the previous two days.DomesticEastern China (Shanghai): 5,770-5,800 yuan ($896-900) per tonne, up by 40-50 per tonneEnd users kept stable procurement rates today after they raised demand on Wednesday, so rebar prices recovered some loss.And market participants heard that major...Read More
Supply concerns continue to support zinc's three-month price on the London Metal Exchange, which reached a peak of $3,837.50 per tonne on the morning on Thursday October 14, with most other base metal prices also starting the day higher. Reports that Nyrstar - one of Europe and the world's major zinc producers - is set to cut production by up to 50% at its three European smelters in response to th...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cooks...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
An overview of the consumer electronics markets and their latest price moves.Fola Malomo and Janie...Read More
China's domestic demand for stainless steel has weakened in the past few week due to a widespread electricity shortage across the country, which weighed on prices in the week to Wednesday October 13.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,000-21,200 ($3,260-3,291) per tonne, narrowed downward by 200 yuan per tonne from September 29. The power shortage has resulte...Read More
Offer prices for deep-sea cargoes in Bangladesh jumped in the week ended October 14 amid bullish sentiment from United States sellers and good scrap demand in competing Asian import nations, sources told Fastmarkets.Bangladeshi mills hit by strong offer pricesSouth Korean mill issues scrap import tenderTaiwanese containerized prices continue to increaseElectricity rationing sours sentiment in Chin...Read More