The domestic price for rebar in the United Arab Emirates fell this week on continued moderate demand, sources told Fastmarkets on Tuesday January 22.Domestic rebarLocal rebar producers in the UAE announced reduced prices for material due to be shipped in February on January 21. The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, down from...Read More
Sparse trading kept China's domestic rebar prices unchanged on Tuesday January 22. Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($544-550) per tonne, unchangedNorthern China (Beijing): 3,670-3,700 yuan per tonne, unchangedRebar futures dropped sharply after rising to a high of 3,700 yuan per tonne in the morning. Sellers in the spot market took the movement as a sign that traders in the fut...Read More
Import prices for steel slab in Southeast Asia and East Asia softened again over the past week amid lower offers and persistently soft demand.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $415-430 per tonne cfr on Monday January 21, down $5 per tonne from a week earlier.Transactions were heard concluded for two Asia-origin cargoes at $425 per tonne cf...Read More
The domestic ferro-silicon market in China recovered over the past week in line with tighter supply of the alloy. In Europe, ferro-silicon prices fell to lows last seen in August 2017 after suppliers reduced their offer levels to stimulate business in a slow spot market. Chinese domestic market bounces as supply tightens but production restarts may hamper recoveryEuropean market seen stabilizing i...Read More
A flurry of demand ahead of the Chinese New Year holiday is providing support to import prices for UG2 chrome ore.A flurry of demand ahead of the Chinese New Year holiday is providing support to import prices for UG2 chrome ore. UG2 chrome ore climbs by $1 Domestic spot ferro-chrome prices holds in China; flat February tenders predicted Alloy prices soften in South Korea but unchan...Read More
Aggressive bidding and lower offer prices weighed on manganese ore prices in China, where inventories also fell sharply in the week ended Friday January 18. Manganese ore prices in China continue to fall Manganese ore stocks in China slump Ferro-manganese prices in Europe, China drop Silico-manganese price fob India falls Alloy prices stable in United States The manganese...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 22 that are worth another look.The heads of several steel industry associations in the United States remained divided on the effectiveness of the Section 232 tariffs on US steel imports but found some common ground on the subject of the yet to be signed US-Mexico-Canada Agreement (USMCA).Global base metals producer Nyrst...Read More
Brazilian steel producers have passed on an increase of 20-25% in flat steel prices to automotive manufacturers in their latest annual contracts, according to Carlos Loureiro, president of national flat steel association Inda.ArcelorMittal, Usiminas and CSN have all passed on the rises to carmakers, sometimes by as much as 25%.An increase of this size had been expected, and...Read More
Brazil's apparent steel consumption totaled 20.57 million tonnes in 2018, an increase of 7.30% from 19.17 million tonnes the year before, according to the national steel association A??o Brasil.The volume was lower than expected after demand slowed in the final month of last year, the association said on Monday January 21. Apparent use totaled 1.53 million tonnes in December 2018, 1.90% lower than...Read More
China's ferrous futures largely declined during morning trading on Tuesday January 22, apart from the coking coal contract, which ended slightly higher than its opening price. Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,661 yuan ($539) per tonne, down 24 yuan per tonneMay hot-rolled coil: 3,573 yuan per tonne, down 13 yuan per tonneDalian Commodity Exchange May...Read More
Turkey produced 37.311 million tonnes of crude steel in 2018, a 0.56% decrease compared with 2017, according to the Turkish Steel Producers Association (T???oeD).In December 2018, crude steel production in the country was 2.9 million tonnes, a 11.04% year-on-year fall compared with 3.26 million tonnes produced in December 2017, the T???oeD said last week.The decrease in Turkish crude steel product...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 22.Please click...Read More
The domestic ferro-silicon market in China recovered over the past week in line with tighter supply of the alloy. In Europe, ferro-silicon prices fell to lows last seen in August 2017 after suppliers reduced their offer levels to stimulate business in a slow spot market. Chinese domestic market bounces as supply tightens but production restarts may hamper recoveryEuropean market seen stabilizing i...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday January 22, with gains limited by continued strength in the US dollar index, while low stocks and positive fundamentals failed to spur upward movements in prices.Aluminium futures continued to lead the complex in volumes traded over the afternoon, ending the day with more than 17,000 lots changing...Read More
A flurry of demand ahead of the Chinese New Year holiday is providing support to import prices for UG2 chrome ore.A flurry of demand ahead of the Chinese New Year holiday is providing support to import prices for UG2 chrome ore. UG2 chrome ore climbs by $1 Domestic spot ferro-chrome prices holds in China; flat February tenders predicted Alloy prices soften in South Korea but unchan...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 22 that are worth another look.The heads of several steel industry associations in the United States remained divided on the effectiveness of the Section 232 tariffs on US steel imports but found some common ground on the subject of the yet to be signed US-Mexico-Canada Agreement (USMCA).Global base metals producer Nyrst...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Tuesday January 22, with gains limited by continued strength in the US dollar index, while low stocks and positive fundamentals failed to spur upward movements in prices.Aluminium futures continued to lead the complex in volumes traded over the afternoon, ending the day with more than 17,000 lots changing...Read More
Comex copper opened the four-day working week in the United States on weak footing on Tuesday January 22 morning, with the market awaiting clarification on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange tumbled $5.70 cents to $2.6620 per lb. There is a four-day week in the US this week following a public holiday for Martin...Read More
Seaborne iron ore prices dipped below $75 per tonne cfr China on Tuesday January 22 after briefly standing above the mark, with plenty of offers in the market unbid for.MB 62% Fe Iron Ore Index: $74.78 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.62 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.78 per tonne cfr Qingd...Read More
The domestic price for rebar in the United Arab Emirates fell this week on continued moderate demand, sources told Fastmarkets on Tuesday January 22.Domestic rebarLocal rebar producers in the UAE announced reduced prices for material due to be shipped in February on January 21. The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, down from...Read More