Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
Domestic prices for hot-rolled coil in the European Union increased in the week to Friday May 21, supported by continuing coil shortages and good demand.ArcelorMittal increased its coil offer for HRC to ?,?1,150 ($1,401) per tonne on Wednesday May 19, up by ?,?50 per tonne. Cold-rolled and hot-dipped galvanizing coil offers moved up to ?,?1,300 per tonne ex-works.Fastmarkets calculated its daily s...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly positive on the morning of Tuesday May 25, with only SHFE lead showing significant weakness.* Broader markets seem to have become more risk on again after US central bankers stuck to their dovish guidance.* Asia-Pacific equities were firmer this morning, especially in China where government action has calmed...Read More
The price for imported rebar in Singapore fell during the week to Monday May 24 due to turnaround in market sentiment and spot prices in China, market sources said. Buyers have been skittish amid falling steel prices in Asia, led by continual falls in China's physical and futures market. There were no bids heard. Prices in China have fallen continually from 6,000-6,030 yuan ($931-936) per tonne on...Read More
Liberty Steel will sell its aerospace and special alloys steel business in Stocksbridge, United Kingdom, as part of a restructuring plan, the company said on Monday May 24.The Stocksbridge plant produces alloy and stainless steel grades for aerospace, oil and gas industries, and automotive and engineering segments. It has capacity to manufacture 500,000 tpy of merchant bar."A formal sale process f...Read More
Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.South Korea imported 665,187 tonnes of steel scrap in January-April 2021, an increase of 20.3% year on year, according to Korean customs statistics.Steel production in the country was 17.58 million tonnes during the first quarter...Read More
Some base metals prices on the London Metal Exchange bounced back on Monday May 24 aided by elements of short-covering after the sell-off towards the end of last week that took copper and aluminium prices down by over 5%. The three-month nickel price had the biggest boost on Monday, of 1.9% to $17,118 per tonne, from Friday's $16,791 per tonne price. On Friday, the price had declined by 6% over th...Read More
The Chinese government held a meeting with the biggest iron ore, steel, copper and aluminium producers on Sunday May 23 to call for them to rein in commodity price hikes. Commodity leaders were told at the meeting to "proactively fulfill their social responsibilities" and make business decisions "for the benefit of the entire economy as a whole." "The key message is that we ought to obey our paren...Read More
Any imposition by Europe of import duties on stainless steel products from Indonesia and India would spur the domestic market, create additional demand for alloy and boost the ferro-chrome market - but the effects on prices may only be short-lived, according to Fastmarkets' senior analyst.It has been expected for some time that the EU will impose import duties on Indonesian and Indian stainless st...Read More
The seaborne low and high-grade manganese ore markets were quiet in the week to Friday May 21, while the portside market remained stable against strengthening silico-manganese prices, sources said.Fastmarkets' manganese ore index 37% Mn, cif Tianjin edged down by 1 cent (0.20%) to $4.50 per dry metric tonne unit (dmtu) on Friday, from $4.51 per dmtu a week earlier.The semi-carbonate market was lar...Read More
The Chinese government held a meeting with the biggest iron ore, steel, copper and aluminium producers on Sunday May 23 to call for them to rein in commodity price hikes. Commodity leaders were told at the meeting to "proactively fulfill their social responsibilities" and make business decisions "for the benefit of the entire economy as a whole." "The key message is that we ought to obey our paren...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. The TSX Composite Index also is expected to open higher reflecting strength in U.S. equity indices yesterday and strong increases in Far East equity markets in overnight trade. Notable was a 2.40% increase in the Shanghai Composite Index led by gains in the technology sector. Amazon gain...Read More
Hot-rolled coil prices in the United States broke a new record for the seventh time this month, surging above $80 per hundredweight ($1,600 per short ton) for the first time on Monday May 24, the highest since Fastmarkets started covering the market in 1960.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $80.02 per cwt ($1,600.40 per ton) on Monday, up by 1.88% from $...Read More
Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
The European manganese alloys markets rose even higher over the week ended Friday May 21, hitting price ranges last seen in late 2008, on a bout of short-covering from traders looking to restock ahead of an expected renewal of consumer demand early next month, trade sources have told Fastmarkets.Market prices for silico-manganese delivered on a spot basis went as high as ?,?1,450 ($1,766) per tonn...Read More
(Updates prices, adds comment) By Pratima Desai LONDON, May 24 (Reuters) - Copper prices rose on Monday as asofter dollar spurred modest purchases, but gains were capped byconcerns over price curbs on industrial metals in top consumerChina. Benchmark copper on the London Metal Exchange (LME)was up 0.6% to $9,939 a tonne at 1600 GMT.However, prices of the metal, used widely in the power andconstruc...Read More
Here are five Fastmarkets stories you might have missed on Friday May 21 that are worth another look.The export price for pig iron from the south of Brazil increased again in the week to May 21, on continuing strong demand and long lead times, with suppliers said to be sold...Read More
Here are five Fastmarkets stories you might have missed on Friday May 21 that are worth another look.The export price for pig iron from the south of Brazil increased again in the week to May 21, on continuing strong demand and long lead times, with suppliers said to be sold...Read More