German steelmakers settled their monthly steel scrap contracts for June at substantially higher prices due to the current tight supply, sources told Fastmarkets on Friday June 11.Fastmarkets' monthly price assessment for steel scrap, E8 thin new production steel, domestic, delivered consumer, Germany, was ?,?460-500 ($560-609) per tonne on June 11, up by ?,?50-80 per tonne from ?,?410-420 per tonn...Read More
Aluminium primary foundry alloy premiums in Europe and the United States were steady again on Friday June 11, without the price swings seen in other value-added product premiums.EuropeEuropean primary foundry alloy premiums (PFA) were flat on Friday, lagging behind other aluminium value-added products (VAP) such as billet.Market participants told Fastmarkets that lack of demand for the product fro...Read More
Key data from Fastmarkets' pricing sessions in China, the United States and Europe.China The spot ferro-silicon market availability became tighter following the news that a major Malaysian ferro-silicon producer has suspended production due to a Covid 19 outbreak, with supply shifting to China and supplier offers broadly holding steady. Market sentiment was positive after the autonomous...Read More
The domestic price of steel rebar remained stable in Brazil in June, but market participants were uncertain about the price outlook for the finished steel product, questioning the stability of the global price uptrend and noting lower scrap costs in the country.There were reports of one mill announcing a price increase for the month and others debating whether such rise was feasible, but the major...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
The European Commission (EC) will extend the existing safeguard measures on 26 steel products imported into the European Union by three years, market sources told Fastmarkets on Friday June 11.Quota volumes for all 26 steel products will increase by 3% year on year - lower than the 5% rise expected by market participants.The draft document of the adjusted measures was released to member states on...Read More
The market for pig iron exports from Brazil was quiet but firm during the week to Friday June 11.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620 per tonne on Friday, stable week on week.No new sales were reported from the...Read More
The price of stainless steel flat products in Europe surged during the week to Friday June 11 because of an acute supply shortage, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,350-3,400 ($4,077-4,138) per tonne on Friday, up ?,?200 from ?,?3,150-3,200 per tonne a week ear...Read More
Hot-dipped and pre-painted (color-coated) galvanized coil prices decreased in Turkey over the week to Friday June 11 because of weak demand, especially in export markets, sources told Fastmarkets.Demand was lower in the export markets because of the upcoming summer holiday season as well as market expectations of a new anti-dumping investigation in Europe for Turkish hot-dipped galvanized coil (HD...Read More
China-based steel traders have regained their appetite for steel billet imports following increases in their domestic steel markets over the last few days, sources told Fastmarkets on Friday June 11.The most traded rebar and hot-rolled coil futures contracts on the Shanghai Futures Exchange closed up by 3.74% and 3.13% respectively on Friday afternoon.Fastmarkets' price assessment for steel billet...Read More
The European Commission plans to start an anti-dumping investigation into hot-dipped galvanizing coil from Turkey and Russia, market sources told Fastmarkets on Friday June 11. Multiple market participants said that European steel association Eurofer has lodged a complaint and that the executive arm of the European Union is likely to announce the start of the case soon. Eurofer declined to comment...Read More
China-based steel traders have regained their appetite for steel billet imports following increases in their domestic steel markets over the last few days, sources told Fastmarkets on Friday June 11.The most traded rebar and hot-rolled coil futures contracts on the Shanghai Futures Exchange closed up by 3.74% and 3.13% respectively on Friday afternoon.Fastmarkets' price assessment for steel billet...Read More
The market for pig iron exports from Brazil was quiet but firm during the week to Friday June 11.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620 per tonne on Friday, stable week on week.No new sales were reported from the...Read More
Italian domestic steel scrap prices increased substantially in the month to Friday June 11, with mills facing extreme shortages of the steelmaking raw material, sources told Fastmarkets.The southern European country's steelmakers were unable to source the necessary volumes of scrap due to shortages across Europe, particularly for new scrap grades, market sources said.Supplies of new scrap, includi...Read More
German steelmakers settled their monthly steel scrap contracts for June at substantially higher prices due to the current tight supply, sources told Fastmarkets on Friday June 11.Fastmarkets' monthly price assessment for steel scrap, E8 thin new production steel, domestic, delivered consumer, Germany, was ?,?460-500 ($560-609) per tonne on June 11, up by ?,?50-80 per tonne from ?,?410-420 per tonn...Read More
Polish rebar producers have achieved deals at higher prices so far in June and are targeting further increases for July amid steady demand and higher scrap costs, sources told Fastmarkets on Friday June 11.But sources doubt that new increases will be accepted by the market, given that some construction companies are already starting to delay projects, unable to digest surging costs, sources said."...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia. Read More
The domestic price of steel rebar remained stable in Brazil in June, but market participants were uncertain about the price outlook for the finished steel product, questioning the stability of the global price uptrend and noting lower scrap costs in the country.There were reports of one mill announcing a price increase for the month and others debating whether such rise was feasible, but the major...Read More
Prices for inter-merchant light iron scrap in the United Kingdom were stable for the third consecutive week on Friday June 11, supported by firm fundamentals and with suppliers negotiating monthly delivery settlements into domestic steelmakers, trade sources told Fastmarkets.British scrap supplies into yards have been tight in recent months amid reduced scrap arisings from depressed car production...Read More
Turkish domestic hot rolled coil prices fell slightly, while cold-rolled coil prices increased in the week to Friday, June 11, amid moderate demand, sources told Fastmarkets.Flat steel imports, meanwhile, were the opposite, with HRC prices increasing and CRC on the decline."Everyone is waiting to see what will happen in the global markets. Prices fell about two weeks ago in China, but then started...Read More