The export market for flat steel product from the Commonwealth of Independent States touched the bottom during the week to Monday October 11, sources said, while suppliers' mood has turned bullish.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $800-820 per tonne on Monday, unchanged week on week.Sales of both Ukraine and Russia-origin HRC were report...Read More
Activity in the European hot-rolled coil market remained subdued on Tuesday October 12, with sentiment still bearish, sources have told Fastmarkets.The majority of European buyers have sufficient stocks to last until the end of the year and have only been purchasing smaller lots to restock particular specifications of coil. Distributors, however, were expected to return to the market for orders in...Read More
Export prices for Chinese steel cold-rolled coil and hot-dipped galvanized coil have moved slightly higher from those seen in late September, while trading liquidity remained quiet.Demand for Chinese CRC and HDG has been poor in the week to Tuesday October 12, with buyers shifting their attention to cheaper resources from other origins and overall demand weak due to Covid-19 pandemic situations ac...Read More
The prices of imported steel rebar to the United Arab Emirates increased slightly in the week to Tuesday October 12, while sources expect other prices to increase because of rising energy costs globally, sources told Fastmarkets.Energy costs have been increasing in most markets, with steel mills adding the cost to their prices.Some of the rebar re-rollers in the UAE stopped accepting new orders du...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
Member mills of the China Iron & Steel Association (Cisa) cut their crude steel, finished steel and hot metal production rates in late September compared with the preceding 10 days, according to data published by the association on Monday October 11.September 21-30 outputCrude steel: 1.77 million tonnes per day, down 11.18%Finished steel: 1.86 million tonnes per day, down...Read More
Deep-sea scrap import prices in Turkey have continued to increase due to strong demand from Turkish steelmakers, market participants told Fastmarkets on Tuesday October 12.Late on Monday October 11, a steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 34,000 tonnes of HMS 1&2 (80:20) at $463 per tonne and 2,000 tonnes of shredded at $478 per tonne, along with 4,000 tonnes of...Read More
Market participants were bullish on the Japanese scrap markets amid the surge in Japan's October Kanto Tetsugen auction price, sources told Fastmarkets on Tuesday October 12. Japan's Kanto Tetsugen auction closes $61 per tonne higher month on monthTaiwan returns from holidayPrices for imported material to China increase amid tight domestic supplyJapanJapan's October Kanto Tetsugen auction conclude...Read More
Seaborne iron ore prices were down on Tuesday October 12 amid limited trading at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $129.00 per tonne, down $6.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.17 per tonne, down $8.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $98.51 per tonne, down $7.08 per tonne65% Fe Brazil-origin fi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
Interest in importing steel billet fell in China on Tuesday October 12 amid a fall in the country's domestic billet market on the same day, sources have told Fastmarkets.A sharp drop in ferrous futures markets in China on Tuesday due to market expectations of a rise in Chinese steel output over the short term was also accompanied by a weakening in physical markets.Local billet prices in Jiang...Read More
The export market for steel billet from the Commonwealth of Independent States improved on Tuesday October 12 on bullish sentiment among suppliers.Fastmarkets' calculation of its daily steel billet index, export, fob Black Sea, CIS, was up by $23 per tonne day on day to $625 per tonne on October 12.One supplier from Ukraine offered billet at prices no...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
The two biggest ferro-alloys producers in Ukraine - Nikopol and Zaporozhye - are almost halving production of manganese alloys in October due to surging electricity prices, a source told Fastmarkets on Monday October 11.The Privat Group, which owns the facilities is shutting five of its 13 furnaces at Nikopol, cutting its monthly manganese alloys output to 35,000 tonnes, from 65,000 tonnes in Sept...Read More
Tsingshan Group has set its tender price for October-delivery high-carbon ferro-chrome at 9,995 yuan ($1,550) per tonne, the Chinese stainless steelmaker said on Monday October 11.The tender price was unchanged from what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for September-delivery material, suggesting that it chose not to acknowledge a recent price surge...Read More
China will allow its floating electricity prices to rise further from October 15 to stabilize supply amid a shortage in the country, according to a notice released by the country's National Development & Reform Commission (NDRC), its top economic planner, on Tuesday October 12.Electricity supplied to the national grid is priced using a formula that comprises a base price and a floating price, acco...Read More
Chinese domestic rebar prices continued to rise on Monday October 11 after steel mills increased their list prices, but market participants remain pessimistic about demand and prices for the rest of October.Domestic Eastern China (Shanghai): 5,940-5,990 yuan ($923-931) per tonne, up by 30-40 yuan per tonneThe major eastern China producer Shagang raised its list prices for HRB400 16-25mm rebar...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
China will allow its floating electricity prices to rise further from October 15 to stabilize supply amid a shortage in the country, according to a notice released by the country's National Development & Reform Commission (NDRC), its top economic planner, on Tuesday October 12.Electricity supplied to the national grid is priced using a formula that comprises a base price and a floating price, acco...Read More
The London Metal Exchange is partnering with the digital metals trading platform Metalshub to establish a spot trading platform and marketplace, the exchange said.Initially focused on base metals, the platform will be run by Metalshub and will exist in parallel with the LME's existing derivative contracts and trading mechanisms. Users of the spot trading platform will be directed to the Metalshub...Read More