Domestic prices for European heavy steel plate increased further in the week to Wednesday May 19, supported by good demand, sources told Fastmarkets.In addition, market sources said that lead times from domestic suppliers have been getting longer. German mills have already started trading October-December rolling plate, while Italian re-rollers have been offering July production."Demand is very go...Read More
Domestic hot-rolled coil prices again increased day on day in Europe on Wednesday May 19 due to a combination of a shortage of material and strong demand, sources told Fastmarkets.On Wednesday, ArcelorMittal increased its official coil offers to ?,?1,150 ($1,403) per tonne ex-works, up by ?,?50 per tonne.The majority of European steelmakers have been holding back on making coil offers in the spot...Read More
US domestic wire rod prices rose by an average $50 per short ton ($2.50 per hundredweight) in May due to tightening supply; at the same time, more buyers have turned to imports to acquire needed material, pushing import prices above domestic prices in some cases.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $49-51 per cwt ($980-1,020 per ton) T...Read More
Steel wire rod producers in the north of Europe have largely sold outof June-rolling material and have yet to announce offers for July, while buyers expect prices to rise sharply due to persistent material shortage, limited and expensive imports, Fastmarkets heard on Wednesday May 19Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was...Read More
The near-term outlook for ferro-silicon looks set to climb higher to a near record-high since Fastmarkets started assessing the price more than 24 years ago due to firm fundamentals, industry sources said.The European spot delivered price is gripped between tight supply and strong demand from steelmakers, while market focus is on expectations of renewed demand from consumers in early June for thei...Read More
Sales of passenger cars in the European Union rocketed by 218.57% year on year in April 2021, the European Automotive Manufacturers Association (ACEA) said on Wednesday May 19. New car sales in the region totaled 862,226 vehicles in April 2021, up from 270,651 units sold in the corresponding month of 2020. The massive rise is explained by a drop in car manufacturing a year earlier due to...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mixed in the past week amid a volatile market affected by fluctuating steel futures.Cold-rolled coilFastmarkets' weekly price assessment for steel cold-rolled coil, export, fob China main port was $970-1,000 per tonne on Tuesday May 18, narrowing by $30-45 per tonne from $925-1,030 per tonne a week earlier.Some Chinese...Read More
First Quantum Minerals has entered into a binding agreement to sell a 30% equity interest in the Ravensthorpe nickel-cobalt operation in Western Australia to South Korean steelmaker Posco for $240 million in cash, the company said on May 19.The Vancouver, Canada-headquartered company will retain a 70% interest in Ravensthorpe and continue to be the operator.Posco and First Quantum have also agreed...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 19 that are worth another look.ArcelorMittal has told some customers that it will be adding another ?,?50 ($73) per tonne to its coil product offer prices in Europe this week, sources told Fastmarkets on Wednesday May 19.Tax...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
Manganese ore stocks at major Chinese ports have declined to a seven-month low amid continuously increased ore consumption among manganese alloy smelters in recent months. Fastmarkets assessed manganese ore inventories at the main Chinese ports of Tianjin and Qinzhou at 5.76 million-5.87 million tonnes on Monday May 17, down by 2.84% from 5.93 million-6.04 million tonnes the previous week and the...Read More
The Alumar aluminium smelter in Brazil's Maranh??o state could be a future target for a restart, Alcoa Corp chief financial officer Bill Oplinger said. Alcoa operates around one-quarter of currently curtailed aluminium smelting operations in the Western world and is eying various dynamics when considering restarts, including local currency, local workforce and energy availability, he said. "When I...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 19 that are worth another look.ArcelorMittal has told some customers that it will be adding another ?,?50 ($73) per tonne to its coil product offer prices in Europe this week, sources told Fastmarkets on Wednesday May 19.Tax...Read More
Prices for steel hollow sections in Europe increased on Wednesday May 19, with some mills reportedly stepping out of the market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,220-1,250 ($1,489-1,525) per tonne on May 19, up from ?,?1,190-1,220 per tonne on May 12.Market participants told Fastmarkets that severa...Read More
A strategy to cool down commodity price spikes was top of the agenda China's weekly State Cabinet meeting on Wednesday May 19. Chaired by China's second most powerful politician, Premier Li Keqiang, the cabinet meeting discussed control measures to rein in the "unreasonable price rally", including ensuring sufficient supplies of main commodities. The aim is to prevent the rising costs pa...Read More
The drop in demand for imported billet in China in recent days has resulted in traders reducing the bid prices placed in new tenders with Iranian mills, Fastmarkets learned on May 19.Sirjan Jahan Steel was looking for $690-700 per tonne fob in the assessment week's tender on a sale from Arfa Iron & Steel done last week at $695 per tonne fob Southern Iranian ports, one trading source said.The trade...Read More
Turkish steel mills resumed booking deep-sea scrap late on Tuesday, resulting in higher prices, sources told Fastmarkets on Wednesday May 19 - the start of a public holiday in the country.The Turkish import market had been quiet since the Eid al-Fitr holiday that began on Wednesday May 12. Monday and Tuesday May 17 and 18 were normal working days, but no bookings were done until late on Tuesday. A...Read More
Prices for steel scrap cargoes exported from Japan rose again during the week to Wednesday May 19 amid a healthy appetite from both South Korea and domestic buyers, market participants told Fastmarkets.The sharp decline in Chinese ferrous futures and spot market prices this week has done nothing to stop the rise of the Japan scrap market, with a further increase in offer prices recorded across all...Read More
Wayne Wang will join ThyssenKrupp in early June as senior base metal trader, with a focus on physical aluminium, he told Fastmarkets.He will join ThyssenKrupp's Asian desk in Singapore, which is currently led by Kevin Song.Read More
First Quantum Minerals has entered into a binding agreement to sell a 30% equity interest in the Ravensthorpe nickel-cobalt operation in Western Australia to South Korean steelmaker Posco for $240 million in cash, the company said on May 19.The Vancouver, Canada-headquartered company will retain a 70% interest in Ravensthorpe and continue to be the operator.Posco and First Quantum have also agreed...Read More