Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum. Brent crude oil is back above $70 per barrel, the highest it has been for two years. Tuesday's manufacturing purchasing managers' index (PMI) data for...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
Prices of lead scrap items in the Unites States did not display any significant week-on-week change, with the market trading in a narrow range amid limited spot activity.But price ranges widened upward on several assessments in response to volatility on the London Metal Exchange lead contract, rising freight costs and physical supply constraints."Smelters are running at capacity, and imports...Read More
Domestic prices for European heavy steel plate were unchanged over the week to Wednesday June 2, due to holidays in a number of EU countries, sources have told Fastmarkets.Sentiment in the market remained positive, however, and demand was expected to recover next week, market sources said."Demand is fine. I think we will see it improving further due to [the emergence of new] projects and long-term...Read More
Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.Market participants did not expect any price decreases, though. Steel prices in China did decrease from April until May 27, but they then started to rise again.Hot-rolled coil export pric...Read More
European distributors of flat steel products reported a 21.7% year-on-year rise in shipment volumes for March 2021, regional steel industry association Eurometal said on Wednesday June 2.In the first quarter of 2021, flat steel shipments in the European Union and the United Kingdom inched up by 2.8% year on year.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern E...Read More
Iranian billet producers turned quiet in the week to Wednesday June 2, waiting for a clearer trend after the recovery of billet and rebar prices in the domestic market in China - one of the key destinations for semi-finished steel from Iran.Last week, domestic billet prices in China dropped to 4,780 yuan ($749.36) per tonne on Friday, down by 140 yuan ($21.95) per tonne since the start of last wee...Read More
A Bangladeshi mill has returned to the United States deep-sea ferrous scrap market to secure two cargoes from separate shippers at a $70-per-tonne increase compared with the last-reported sale to the region.A West Coast exporter sold a cargo to Bangladesh comprising 7,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap priced at $535 per tonne cfr and 25,000 tonnes of shredded scrap pric...Read More
Turkish steel mills remained largely silent in the deep-sea scrap import markets due to continued sluggish finished steel demand in both domestic and export outlets, market participants told Fastmarkets on Wednesday June 2. Turkish steelmakers have been focusing on finished steel sales in the recent weeks in lieu of demand in Asia, while customers in the domestic market have been struggling with h...Read More
A large gap between bids and offers ensured that only limited business took place in the Japan steel scrap export market over the past week, sources said on Wednesday June 2.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?46,000-48,000 ($420-438) per tonne on Wednesday, down from ?47,000-48,500 per tonne one week earlier.Japanese H2 was heard sold to a South K...Read More
Iron ore physical prices rose on Wednesday June 2, while low-grade fines increased on buying interest from Chinese steel mills, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $209.19 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $211.50 per tonne, up $0.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.30 per tonne, up $1.30 per tonne65% Fe B...Read More
Seaborne premium hard coking coal prices in the cfr and fob markets diverged on Wednesday June 2, with the high price for premium hard coking coal in cfr market discouraging mills from purchasing, according to sources.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.84 per tonne, up by $1.40 per tonnePremium hard coking coal, cfr Jingtang: $283.79 per tonne, down by $0.56 per tonneHard...Read More
Import prices for steel scrap inched up amid slightly firmer prices for finished steel products on Wednesday June 2.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $500-515 per tonne on Wednesday, widening upward by $5 from $500-10 per tonne on Tuesday.The most-traded rebar and hot-rolled...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in May 2021.The case list below includes only updates. For other continuing cases this year,...Read More
Hot-rolled coil prices in China's domestic market traded in a smaller range on Wednesday June 2, following the volatility in Tuesday's session driven by uncertainty over production curbs in Tangshan.DomesticEastern China (Shanghai): 5,480-5,570 yuan ($858-872) per tonne, narrowing the range by 30-50 yuan per tonne.Prices edged lower on Wednesday after trading at 5,480-5,600 yuan per tonne on Tuesd...Read More
China's domestic rebar prices on Wednesday June 2 recovered most of the losses from a day earlier amid costlier raw materials such as iron ore and coke. DomesticEastern China (Shanghai): 5,000-5,020 yuan ($784-787) per tonne, up by 100 yuan per tonne Rising prices for steelmaking raw materials are making rebar mills lose money, an industry analyst said.Fastmarkets' index for iron ore 62% Fe fines,...Read More
European hot-rolled coil producers have remained in control of domestic prices despite mixed sentiment among buyers, market sources told Fastmarkets on Wednesday June 2.Tight supply and long lead times from European mills combined with limited access to overseas coil have been supporting the domestic prices. A majority of European producers were reported to be sold out of third-quarter-rolling coi...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 2 after a rise in demand led to mills struggling to keep up, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,614-1,638) per tonne on June 2, up from ?,?1,250-1,320 per tonne on May 26.Hollow section producers had less material to offer cust...Read More
European steel H-beam prices moved up again on Wednesday June 2, with producers achieving continuous price increases with little resistance from customers, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?940-970 ($1,149-1,186) per tonne on Wednesday, up from ?,?900-920 per tonne one week earlier. Some mills have steppe...Read More
Supply-demand imbalance continued to push domestic steel wire rod prices in Northern Europe further upward in the week to Wednesday June 2, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?830-850 ($1,015-1,039) per tonne on Wednesday, narrowing upward from ?,?800-850 per tonne seven days earlier.The assessmen...Read More