Turkey's long steel export market continued to struggle this week, with virtually closed markets in Europe and the United States and falling prices stifling demand, sources told Fastmarkets on Thursday January 10.Turkish steel producers were generally offering rebar for exports at about $445-450 per tonne fob on an actual weight basis, with only a handful of mills still trying to keep their o...Read More
The Turkish domestic rebar and wire rod price have gone up slightly due to a weakening lira over the past week, sources said on Thursday January 10.Fastmarkets' price assessment for domestic rebar in Turkey was TRY2,880-2,930 ($525-534) per tonne ex-works, including 18% VAT, up from last week's TRY2,800-2,850 per tonne.The local price in the Izmir region was reported at TRY2,910-2,970 per tonne ex...Read More
Steel billet import prices into Egypt fell this week with lower offers, while local rebar prices remained unchanged, sources said on Thursday January 10.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $425-430 per tonne cfr on Thursday, falling from $435-440 per tonne cfr.Billet producers from the Commonwealth of Independent...Read More
The pig iron export market for producers in the Commonwealth of Independent States (CIS) has dropped because of crashes in domestic scrap prices in the key outlets of the United States and Italy.Fastmarkets' CIS export price assessment for high-manganese pig iron fell to $320-335 per tonne fob Black Sea on Thursday January 10, compared with $340-345 per tonne a week before."Based on weak scrap pri...Read More
Turkish steel producers continued to book deep-sea scrap to replenish low stock levels on Thursday January 10, while the finished steel markets were still weak.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 28,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 5,000 tonnes of shredded at $285 per tonne and 3,000 tonnes of bonus at $290 per tonne...Read More
Iron ore prices were mixed on Thursday January 10 following news of the Chinese yuan's appreciation against the US dollar and reports of a port fire in Australia.MB 62% Fe Iron Ore Index: $73.36 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Pilbara Blend Fines Index: $73.50 per tonne cfr Qingdao, down $0.54 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.17 per tonne cfr Qingdao, dow...Read More
Steel billet import prices into Egypt fell this week with lower offers, while local rebar prices remained unchanged, sources said on Thursday January 10.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $425-430 per tonne cfr on Thursday, falling from $435-440 per tonne cfr.Billet producers from the Commonwealth of Independent...Read More
China's rebar prices regained some strength on Thursday January 10 with market participants becoming less pessimistic. Domestic Eastern China (Shanghai): 3,750-3,780 yuan ($549-553) per tonne, up 20-30 yuan per tonneNorthern China (Beijing): 3,650-3,690 yuan per tonne, up 10 yuan per tonneReports of new infrastructure projects in the country lifted sentiment among market participants, making them...Read More
Fastmarkets looks at five key things to watch out for in China's nickel and stainless steel markets this year against a backdrop of nickel pig iron (NPI) project ramp-ups and a country-wide clampdown on new crude stainless steel capacity.NPI deficit to persist despite project ramp-upsWhile the ramp-ups of a number of NPI projects were announced in 2018 and this is expected to narrow the deficit of...Read More
Argentinian carmakers produced 20,475 vehicles in December, according to figures recently published by local manufacturers' association Adefa. Output was down by 38.50% from 33,280 units in the corresponding month of 2017.The output numbers in the Southern Hemisphere country decreased "as a result of the anticipation of summer holidays and the conditioning of plants for the execution of new invest...Read More
From 2019, Chinese central government regulators will begin a new round of environmental protection inspections in the country's metals and mining industry, which will take about four years to complete.The affected regions include all 31 provinces - including districts and cities - in China that were included in an earlier round of environmental inspections that took place over the past three year...Read More
The pig iron export market for producers in the Commonwealth of Independent States (CIS) has dropped because of crashes in domestic scrap prices in the key outlets of the United States and Italy.Fastmarkets' CIS export price assessment for high-manganese pig iron fell to $320-335 per tonne fob Black Sea on Thursday January 10, compared with $340-345 per tonne a week before."Based on weak scrap pri...Read More
Base metals prices on the London Metal Exchange had mixed fortunes at the close of trading on Thursday January 10, with zinc's three-month price continuing its downtrend while positive US job data spurred a marginal uptick in the US dollar index.Zinc's three-month price continued to trade in a downtrend over the afternoon, closing 1.2% lower day on day and falling further from its support level of...Read More
Turkey's long steel export market continued to struggle this week, with virtually closed markets in Europe and the United States and falling prices stifling demand, sources told Fastmarkets on Thursday January 10.Turkish steel producers were generally offering rebar for exports at about $445-450 per tonne fob on an actual weight basis, with only a handful of mills still trying to keep their o...Read More
Turkish steel producers continued to book deep-sea scrap to replenish low stock levels on Thursday January 10, while the finished steel markets were still weak.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 28,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 5,000 tonnes of shredded at $285 per tonne and 3,000 tonnes of bonus at $290 per tonne...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 10 that are worth another look.Chinese central government regulators will begin a new round of environmental protection inspections in the country's metals and mining industry this year, which will take about four years to complete. The volatility in manganese ore prices should rise in 2019 while increases in...Read More
Base metals prices on the London Metal Exchange had mixed fortunes at the close of trading on Thursday January 10, with zinc's three-month price continuing its downtrend while positive US job data spurred a marginal uptick in the US dollar index.Zinc's three-month price continued to trade in a downtrend over the afternoon, closing 1.2% lower day on day and falling further from its support level of...Read More
The London Metal Exchange has altered its fee-cap structure to accommodate position transfers related to the United Kingdom's impending exit from the European Union (Brexit), in line with the requirements of its membership base, according to a note released to members on Tuesday January 8.Previously, the LME's position transfers, which are a common feature in exchange-traded derivatives markets an...Read More
Zinc came under pressure on the London Metal Exchange in morning trading on Thursday January 10, shrugging off continued market optimism about recent US-China trade talks.The three-month zinc price fell 1.2%, ignoring the continued drawdown of LME inventories - only 109,025 tonnes are now on-warrant. Additionally, the metal's cash/three-month spread remains in a backwardation of $21.50, narrowing...Read More
The Turkish domestic rebar and wire rod price have gone up slightly due to a weakening lira over the past week, sources said on Thursday January 10.Fastmarkets' price assessment for domestic rebar in Turkey was TRY2,880-2,930 ($525-534) per tonne ex-works, including 18% VAT, up from last week's TRY2,800-2,850 per tonne.The local price in the Izmir region was reported at TRY2,910-2,970 per tonne ex...Read More