Coated coil prices in Turkey increased during the week to Friday May 7 on strong demand, sources told Fastmarkets.Most coated coil producers were fully booked until late August, with some accepting orders for September production.Demand was strong in domestic and export markets because of limited stock levels.Domestic pricesFastmarkets' weekly price assessment for steel hot-dipped galvanized coil...Read More
South American flat steel import prices rose during the week to Friday May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material from elsewhere was sold at higher levels.Only a few firm offers were provided to clients in South America, according to market participants. Most were price indications for residual June shipments and initial assessments fo...Read More
The price of stainless steel flat products in Europe surged this week with some sources attributing this to China's cancellation of an export tax rebate, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm grade 304, transaction domestic, delivered North Europe, was ?,?3,000-3,050 ($3,611-3,672) per tonne, up by ?,?200 per tonne week on...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 5 that are worth another look.German steel companies Thyssenkrupp Steel and H? 1/4 ttenwerke Krupp Mannesmann (HKM) and the Port of Rotterdam Authority are to jointly investigate setting up international supply chains for hydrogen.AfriTin Mining will increase production at its fledgling...Read More
The Chinese import market for steel billet continued its rapid climb over the past seven days, with healthy demand being supported by soaring steel prices in the country.Chinese steel prices have spiked again this week, with hot-rolled coil prices setting domestic records and rebar prices leaping closer to 2008's all-time highest level.At the heart of the latest rise in rebar prices have been expe...Read More
China's new and stricter steel capacity swap ratios will cool the overheated steelmaking raw materials market and pave the way for more electric-arc furnaces to be used in its mammoth steel industry, market sources told Fastmarkets this week.The country's Ministry of Industry and Information Technology (MIIT) updated regulations for steelmaking capacity swaps on Thursday May 6 to firmly reduce ste...Read More
Aluminium producer Rusal has appointed Bob Katsiouleris as director of market development and risk, it said on May 6.Katsiouleris previously held roles at Vale and Nyrstar and most recently was working at trading house Tiberius after being appointed to its executive management board in November 2020.He initially joined Rusal in 2015 as European sales director, before becoming export sales director...Read More
China's domestic rebar prices maintained their upward momentum on Friday May 7, supported by strong demand, and ending the week with a rise of 240-250 yuan per tonne in the east and further growth in the north.DomesticEastern China (Shanghai): steel reinforcing bar (rebar) domestic, ex-whs Eastern China, 5,420-5,450 yuan ($837-842) per tonne, up by 40-50 yuan per tonneNorthern China (Beijing) week...Read More
Turkish deep-sea scrap import prices continued to rise in the latest bookings agreed for June shipments, market sources said on Friday May 7.A steel mill in the Marmara region booked a Baltic Sea cargo late on Thursday, consisting of HMS 1&2 (80:20) at $488 per tonne and shredded and bonus at $498 per tonne cfr.This compared with deep-sea bookings done earlier the same day at $479-480 per tonne cf...Read More
Prices for shredded steel scrap imported into South Asia continued to rise on Friday May 7 but buyers were hesitant about booking material, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $478.96 per tonne on Friday, up from $468.83 per tonne one week earlier.There were no deals heard on the market this week, but offers...Read More
Export prices for pig iron from the Commonwealth of Independent States rose further in the week to Thursday May 6 due to the bullish sentiment of suppliers and strong markets in the supply chain. Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $575-590 per tonne on Thursday, up from $555-565 per tonne a week earlier. "Pig iron prices are dep...Read More
Global steel scrap prices surged in the week to Friday May 7 and could well break through the $500 per tonne cfr mark, starting in Asia, market sources have told Fastmarkets.This was due to the continued demand for steelmaking raw materials and the current high prices for alternative iron ore feedstock, they said.Turkish scrap import prices spikeSentiment in US remains bullishPossible $485 per ton...Read More
The price of austenitic stainless steel scrap in the UK increased this week on an uptick in nickel costs and persistently strong market fundamentals, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,200-1,260 ($1,668-1,751) per tonne on Friday, up from ?1,150-1,230 per tonne a week previously.Th...Read More
China's domestic rebar prices maintained their upward momentum on Friday May 7, supported by strong demand, and ending the week with a rise of 240-250 yuan per tonne in the east and further growth in the north.DomesticEastern China (Shanghai): steel reinforcing bar (rebar) domestic, ex-whs Eastern China, 5,420-5,450 yuan ($837-842) per tonne, up by 40-50 yuan per tonneNorthern China (Beijing) week...Read More
The Chinese import market for steel billet continued its rapid climb over the past seven days, with healthy demand being supported by soaring steel prices in the country.Chinese steel prices have spiked again this week, with hot-rolled coil prices setting domestic records and rebar prices leaping closer to 2008's all-time highest level.At the heart of the latest rise in rebar prices have been expe...Read More
Prices in the CIS export billet market continued to rise in the second half of the week as customers from Turkey and China accepted higher levels in fresh deals.There was a revival in interest in imported billet in Turkey after the recent uptick in imported scrap costs.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $488.83 per tonn...Read More
Pig iron export prices from Brazil increased further on new sales in the week to Friday May 7, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $575-590 per tonne on Friday, up from $545-560 per tonne the previous week.Two 30,000-35,000 tonnes cargoes of pig iron, with phosphorous content 0.15%, were sold from southern Brazil for...Read More
Prices for inter-merchant light iron scrap in the UK increased over the week ended Friday May 7, extending a general rally since late March, sources have told Fastmarkets.The market was likely to move higher, they added, given strong business conditions for European scrap exports into Turkey and the Indian subcontinent.UK monthly deliveries into domestic consumers in May were likely to be settled...Read More
Pig iron import prices in the United States increased during the week to Friday May 7, following the uptrend in the global market.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $620-635 per tonne on Friday, up from $585-595 per tonne the previous week.A cargo of Brazil-origin pig iron with 0.12% phosphorus content was bought at about $630-635 per tonne cfr for Augu...Read More
Import prices for ferrous scrap in Vietnam increased during the week to Friday May 7 on bullish sentiment in the spot market, and could break the $500-per-tonne-cfr-Vietnam mark for bulk cargoes, industry sources told Fastmarkets.Japanese H2 scrap cargoes were offered at $480-490 per tonne cfr Vietnam, up $10 per tonne week on week. But not many cargoes were offered because sellers are awaiting th...Read More