Domestic prices for hot-rolled coil were fairly stable across Europe on Wednesday September 8, with both buyers and sellers following a "wait-and-see" strategy, sources told Fastmarkets.Buyers have been avoiding purchases, anticipating domestic prices for coil to drop under pressure from competitive imports, lower demand from spot buyers and additional volumes that could become available for...Read More
Domestic hot-rolled coil prices in China edged lower on Wednesday September 8; demand has not yet shown a significant improvement despite the advent of peak season.DomesticEastern China (Shanghai): 5,750-5,820 yuan ($890-901) per tonne, down by 30-50 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange climbed up after touching an intraday low of 5,674 yuan per tonne in over...Read More
The price of steel H-beams in the European domestic market was unchanged in the week to Wednesday September 8 despite reduced buying interest, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,245-1,281) per tonne on Wednesday, unchanged week on week.While sellers were comfortably booked for September, they con...Read More
The price of steel hollow sections in the European domestic market was unchanged amid slow trading in the week to Wednesday September 8, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic delivered Northern Europe was ?,?1,400-1,430 ($1,660-1,696) per tonne on Wednesday, unchanged week on week. ...Read More
Steel rebar prices in Northern Europe were stable to slightly weaker over the past seven days, due to slow buying activity and the availability of cheaper imports, sources told Fastmarkets on Wednesday September 8.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, delivered Northern Europe was ?,?870-900 ($1,032-1,067) per tonne on Wednesday, widening down by ?,?10 pe...Read More
Turkish steelmakers went quiet in the deep-sea ferrous scrap markets once again after booking a number of cargoes for October shipment earlier this week, market participants said on Wednesday September 8.Three steel producers did book four deep-sea cargoes from various locations on Tuesday September 7. But weak demand for Turkish long steel products in the export markets has been keeping Turk...Read More
Selling prices for Japanese steel scrap remain more attractive in the Japanese local market than exporting overseas, despite a fresh price cut by Tokyo Steel, sources told Fastmarkets on Wednesday September 8.Tokyo Steel reduces scrap buy prices at key millTaiwan pays higher prices for containerized scrap amid rising logistics costs and lack of vesselsWide gaps between bids and offers persists in...Read More
Seaborne iron ore prices decreased on Wednesday September 8 due to limited liquidity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.19 per tonne, down by $5.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.29 per tonne, down by $4.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.66 per tonne, down by $4.03 per tonne...Read More
Billet prices from Iran increased in the week to Wednesday September 8, supported by the uptick in the Chinese import billet market amid news of local output cuts.Steel billet buyers in China have been active in import billet bookings in recent days amid expectations that further domestic production cuts will be imposed at the start of next year.Thus, recent deal prices...Read More
UG2 chrome ore prices fell by $11 per tonne on Tuesday September - the largest weekly drop since mid-July 2020 - after sellers cut their offers to revive buying interest dented by production cuts in the downstream alloy and stainless steel markets.Fastmarkets' calculated its chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, down by $11 per tonne (6.3%) at $165 per tonne on Tue...Read More
The Russian government is proposing to abolish or reduce its recently-imposed export taxes on ferro-alloys - with the exception of ferro-silicon - in a surprise decision announced on Tuesday September 7. No firm date was given for the introduction of the planned changes.The Russian government introduced duties on 340 steel and non-ferrous metals outside the Eurasian Economic Union (EAEU) in June 2...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 8 that are worth another look.The Ukrainian Intergovernmental Committee for International Trade has initiated an anti-dumping investigation into imports of steel seamless cold-drawn and cold-rolled pipe originating from China.A second lithium trade has been brokered against the CME...Read More
The price of steel hollow sections in the European domestic market was unchanged amid slow trading in the week to Wednesday September 8, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic delivered Northern Europe was ?,?1,400-1,430 ($1,660-1,696) per tonne on Wednesday, unchanged week on week. ...Read More
Brazilian automotive production fell by 21.90% in August 2021 compared with the corresponding month last year due to partial or complete stoppages across the country because of the global semiconductor chip shortage, national manufacturers' association Anfavea said on Wednesday September 8.Output amounted to 164,027 units during August, down from 210,009 units a year before and the worst August nu...Read More
The European Union is suggesting the US impose tariff-rate quotas on steel and aluminium imports in a bid to reach an agreement with the US on exempting the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel and aluminium.The then-p...Read More
A correction has been issued for this article. The update can be found here.Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 8 that are worth another look.The Ukrainian Intergovernmental Committee for International Trade has initiated an anti-dumping investigation into imports of steel seamless cold-drawn and cold-rolled pipe originating from China.A second lithium trade has been brokered against the CME...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 8.Please click...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and ...Read More
UG2 chrome ore prices fell by $11 per tonne on Tuesday September - the largest weekly drop since mid-July 2020 - after sellers cut their offers to revive buying interest dented by production cuts in the downstream alloy and stainless steel markets.Fastmarkets' calculated its chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, down by $11 per tonne (6.3%) at $165 per tonne on Tue...Read More