The London Metal Exchange three-month base metals prices ran into follow-through selling on the morning of Monday March 25 following the weak economic data points released at the end of last week.Flash manufacturing purchasing managers' index (PMI) data from the United States and Eurozone were disappointingly soft and underscored weakening global economic growth. The three-month nickel price was t...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) was calm and stable over the past week because material availability continued to be restricted by planned maintenance outages at rolling units in Russia, sources told Fastmarkets on Monday March 25.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $510-520 per tonne fob Black...Read More
The import price for re-rolling-grade hot-rolled coil (HRC) sold into Vietnam dropped in the past week amid weakening demand.Fastmarkets MB's weekly import price assessment for HRC in Southeast Asia - which mainly includes Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was at $540-550 per tonne cfr for the week ending on Monday March 25, down $5 per tonne from $545-555 per ton...Read More
China's hot-rolled coil prices were largely steady on Monday March 25 amid sparse trading due to stagnant demand in both the domestic and export markets.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($573-576) per tonne, unchangedNorthern China (Tianjin): 3,800-3,820 yuan per tonne, widening upward 10 yuan per tonneThin trading kept domestic prices stable during the day.While products sold at...Read More
Here are five Fastmarkets MB stories you might have missed on Monday March 25 that are worth another look.A motion to undo United States President Donald Trump's blanket tariffs on imports of steel and aluminium has been denied, the US Court of International Trade (CIT) said in a ruling dated Monday March 25.A ramp-up in Chinese zinc production is expected to accelerate in the second quarter...Read More
CIS export prices for rebar and wire rod picked up in the week ended Monday March 25 when producers managed to achieve higher sales prices.Offers of Ukraine-origin rebar were heard within the range of $480-490 per tonne fob Black Sea.A small cargo scheduled for shipment in late April-May was reported sold to West Africa at $485 per tonne fob Black Sea at the end of last week.There was another carg...Read More
Rebar suppliers have increased their prices for buyers in Russia's Central federal district, the major steel-consuming region in the country, on seasonally improved demand in the secondary market.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 39,000-40,000 roubles ($603-618) per tonne cpt Moscow on Monday March 25, up from 38,500-39,000 roubles...Read More
Turkish steel mills added two more cargoes to round off last week's activity before going quiet in the deep-sea scrap markets after the government's response to Donald Trump's Golan Heights comments. A steel producer in the Marmara region booked a US cargo, comprising 35,000 tonnes of HMS 1&2 (80:20) at $323 per tonne cfr and 5,000 tonnes of bonus at $333 per tonne late on Friday March 22.The same...Read More
Turkish domestic auto-bundle scrap prices have gone up over the past seven days, while ship scrap prices fell because the country's lira has weakened against the US dollar, sources said on Monday March 25.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,700-1,870 ($295-324) per tonne delivered on Monday, widening upward from last week's TRY1,700-1,...Read More
Physical iron ore prices were rangebound on Monday March 25 amid mixed news about Australian and Brazilian supplies.MB 62% Fe Iron Ore Index: $85.81 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Pilbara Blend Fines Index: $84.93 per tonne cfr Qingdao, down $0.15 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $87.40 per tonne cfr Qingdao, down $0.95 per tonne. MB 58% Fe Premium Index: $7...Read More
The CIS steel slab market continued to be quiet over the week ended Monday March 25 with offers and bids moving in opposite directions.Ukraine's Metinvest kept its offers above $500 per tonne fob Black Sea, Fastmarkets learnt on Monday March 25.Meanwhile, Russia's Evraz was offering material at $495-500 per tonne fob Black Sea, sources said."They offered several sizes of slab. That's why...Read More
China's domestic rebar prices were flat on Monday March 25, though but export offers edged up amid a positive outlook for demand in the next couple of months. Domestic Eastern China (Shanghai): 3,840-3,880 yuan ($572-578) per tonne, unchanged Northern China (Beijing): 3,840-3,870 yuan per tonne, unchangedWeakening futures led to a slowdown in procurement rates in the spot rebar market.But sellers...Read More
Import prices for steel slab in Southeast Asia and East Asia increased over the past week amid continued upward pressure from higher offers, although trading activity remained muted due to the large bid-offer gap, sources said.Fastmarkets' weekly import price assessment for slab in Southeast Asia and East Asia was $495-510 per tonne cfr on Monday March 25, up by $15-20 per tonne.A transaction invo...Read More
The Chinese ferro-silicon price was stable in the past week in line with fundamentals, while the downturn in the European price persisted against weak spot demand. China supported on lower production Europe drops to 2016 low with more weakness expected US market holds, weakness may loom ahead Chinese ferro-silicon prices have been steady in the past week in line with demand from steel...Read More
Long-term contract and import prices for ferro-chrome rose again in China in the week ended Friday March 22 on higher tenders from stainless steel mills and load shedding by South Africa electricity company Eskom. April tenders push up long-term contract prices in ChinaCharge chrome import prices rise on protracted power constraintsAlloy prices rise in South KoreaEuropean alloy prices flatline de...Read More
Martin Riesen, head of trading at storied metals merchants MRI, left the company on Monday March 25, Fastmarkets understands.Riesen was promoted into the role in March 2017. His departure follows that of head of copper concentrates trading...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) was calm and stable over the past week because material availability continued to be restricted by planned maintenance outages at rolling units in Russia, sources told Fastmarkets on Monday March 25.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $510-520 per tonne fob Black...Read More
The CIS steel slab market continued to be quiet over the week ended Monday March 25 with offers and bids moving in opposite directions.Ukraine's Metinvest kept its offers above $500 per tonne fob Black Sea, Fastmarkets learnt on Monday March 25.Meanwhile, Russia's Evraz was offering material at $495-500 per tonne fob Black Sea, sources said."They offered several sizes of slab. That's why...Read More
CIS export prices for rebar and wire rod picked up in the week ended Monday March 25 when producers managed to achieve higher sales prices.Offers of Ukraine-origin rebar were heard within the range of $480-490 per tonne fob Black Sea.A small cargo scheduled for shipment in late April-May was reported sold to West Africa at $485 per tonne fob Black Sea at the end of last week.There was another carg...Read More
Here are five Fastmarkets MB stories you might have missed on Monday March 25 that are worth another look.A motion to undo United States President Donald Trump's blanket tariffs on imports of steel and aluminium has been denied, the US Court of International Trade (CIT) said in a ruling dated Monday March 25.A ramp-up in Chinese zinc production is expected to accelerate in the second quarter...Read More