Steelmakers in South Korea entered the market to pick up two deep-sea cargoes from the United States at higher prices over the past week, sources told Fastmarkets on Friday June 11.South Korean scrap buying prices were buoyed by hot finished steel demand in the country and a rise in Japanese export prices following Wednesday's Kanto Tetsugen auction.A South Korean steelmaker booked a 30,000-tonne...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
Base metals prices on the London Metal Exchange were little changed at the 5pm close of trading on Thursday June 10, with slight increases for aluminium and nickel, while prices dipped elsewhere on the complex.The three-month copper price fell by 0.9% to $9,890 per tonne during Thursday trading, down from $9,978.50 per tonne at Wednesday's 5pm close, despite reaching an intraday high of $9,992.50...Read More
After a one-month consultation period, Fastmarkets has amended the timing specifications for its assessment of Italian SHG (special high grade) zinc premiums.The frequency of the assessments, which are currently weekly, will move to a fortnightly basis after the next assessment date on June 15. The change is due to the Italian zinc market being largely centered around long-term contracts...Read More
The emergence of an additional Wednesday deep-sea scrap purchase by a Turkish steel mill has helped to keep prices on a upward trend, sources told Fastmarkets on Thursday June 10.The cargo from Canada was booked by a still mill in the Iskenderun region, comprising 9,500 tonnes of HMS 1&2 (95:5), 7,500 tonnes of rails and 12,000 tonnes of plate & structural (P&S) scrap at an average price of $...Read More
The latest deals for containers of steel scrap imported into Bangladesh over the past seven days have shown small price increases from deals in the previous week, sources told Fastmarkets on Thursday June 10.Overall scrap demand in the country remained low, particularly given the start of the monsoon season this month, but sources said that buyers in the container market have been forced to raise...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
The United States' hot-rolled coil steel import prices have surged to an all-time high, with buyers worldwide competing for limited material."There's not a lot of steel available, not here or anywhere else," a distributor source said.Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,540-1,610 per short ton ($77.00-80.50 per hundredweight) on Wednesday June 9, up...Read More
Domestic prices for hot-dipped galvanized steel coil in Europe were fairly stable in the week to Wednesday June 9, despite slower trading activity, sources have told Fastmarkets.The domestic prices have been supported by good order books at mills in Northern European, with Italian steelmakers offering material from fourth-quarter rolling, market sources said. Some steelmakers have also started off...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
Steel reinforcing bar prices in the United States increased again on Wednesday June 9, with another round of mill hikes expected soon.Fastmarkets' assessment for steel rebar, fob mill US was $44.50 per hundredweight ($890 per short ton) on Wednesday, up 1.14% from $44 per cwt the previous week.US marketThe increase follows recent mill hikes, rising shredded scrap prices in Chicago and Detroit...Read More
Prices for steel billet imported into Egypt remained stable during the week to Thursday June 10 amid recovering demand, sources told Fastmarkets.New regulations for construction in the country that allow new building permits, in effect from June 1, have buoyed demand, sources said.New construction projects are still limited due to the detailed procedures to access permits but a partial removal of...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
The emergence of an additional Wednesday deep-sea scrap purchase by a Turkish steel mill has helped to keep prices on a upward trend, sources told Fastmarkets on Thursday June 10.The cargo from Canada was booked by a still mill in the Iskenderun region, comprising 9,500 tonnes of HMS 1&2 (95:5), 7,500 tonnes of rails and 12,000 tonnes of plate & structural (P&S) scrap at an average price of $...Read More
The latest deals for containers of steel scrap imported into Bangladesh over the past seven days have shown small price increases from deals in the previous week, sources told Fastmarkets on Thursday June 10.Overall scrap demand in the country remained low, particularly given the start of the monsoon season this month, but sources said that buyers in the container market have been forced to raise...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
Turkish steel billet prices in both the local and export markets have decreased over the past week on limited demand, market participants said on Thursday June 10.Long steel prices in the country, on the other hand, increased slightly during the week because of higher materials costs.Most market participants in Turkey expected billet prices to increase in the next few weeks as well, because of inc...Read More
Some traders continue to look for alternative buyers for Indian steel billet cargoes outside of the Chinese market amid problems shipping from India to China, sources told Fastmarkets.High Covid-19 cases in India have threatened to choke the export business from India's east coast amid rising freight rates and cases of Indian vessel rejections at Chinese ports, sources said.Traders continued...Read More
China's domestic rebar prices continued to trend upward on Thursday June 10 after trading activity picked up in response to rising futures.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($782-787) per tonne, up by 30-40 yuan per tonneTrading houses expect spot rebar prices to keep rising on the bullish sentiment in the futures market. As such, they raised their procurement rates to stock up on...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