Turkish domestic scrap prices have remained fairly stable over the past seven days, with most mills keeping their buy prices unchanged week on week, market participants said on Monday April 26.Long steel producers in the Izmir region continued to buy domestic auto bundle and ship scrap at stable prices over the past seven days.Only two mills in the Marmara region cut...Read More
A cargo of 62% Fe Brazilian Blend iron ore fines was traded on Monday April 26 at a price of $194.40 per tonne cfr China on a trading platform, a record high since Fastmarkets' index for 62% Fe low-alumina fines, cfr Qingdao, was introduced in August 2018.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $193.58 per tonne, up by $7.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $194.40 pe...Read More
As the current surge in coronavirus cases in India takes hold, Fastmarkets looks at the possibility that the steel industry could lose its impressive growth.New cases of coronavirus in India have surpassed 350,000 per day and steel plants in the country have been supplying liquid medical oxygen (LMO) to hospitals because of the ongoing shortage of available oxygen. Diverting supplies of oxygen awa...Read More
The main union for metal workers in the Czech Republic has instigated industrial action at Liberty Steel's Ostrava steelworks, sources told Fastmarkets on Monday April 26.On Monday, the OS KOVO trade union called on workers at Liberty Ostrava to "work-to-rule", which means no additional shifts or overtime.The union also said employees should ignore work e-mails and phone calls outside working hour...Read More
The main union for metal workers in the Czech Republic has instigated industrial action at Liberty Steel's Ostrava steelworks, sources told Fastmarkets on Monday April 26.On Monday, the OS KOVO trade union called on workers at Liberty Ostrava to "work-to-rule", which means no additional shifts or overtime.The union also said employees should ignore work e-mails and phone calls outside working hour...Read More
The European Commission will set definitive duties on hot-rolled coil from Turkey at marginally lower levels than for preliminary duties, sources told Fastmarkets. The EC imposed provisional anti-dumping duties of 4.80-7.60% in early January 2021. Both European and Turkish market sources said that the EC has sent letter to the interested parties with definitive duties that have been calculate...Read More
Here are five Fastmarkets stories you might have missed on Monday April 26 that are worth another look.Liberty Steel Dudelange-Liege has been cancelling orders and shipments to customers that had agreed deals for cold-rolled coil and hot-dipped galvanized coil, sources have told Fastmarkets.Metal...Read More
The main union for metal workers in the Czech Republic has instigated industrial action at Liberty Steel's Ostrava steelworks, sources told Fastmarkets on Monday April 26.On Monday, the OS KOVO trade union called on workers at Liberty Ostrava to "work-to-rule", which means no additional shifts or overtime.The union also said employees should ignore work e-mails and phone calls outside working hour...Read More
All base-metals prices on the London Metal Exchange were up by 1% or more at the 5pm close of trading on Monday April 26, with overarching bullish sentiment toward economic recoveries taking hold of the complex throughout the day.Copper and aluminium were the leaders of the rally on Monday, both reaching new 2021 highs during the day at $9,765 and $2,407 per tonne respectively.They closed at 5pm u...Read More
The gap between the prices of rebar and hot-rolled coil exported from the Commonwealth of Independent States reached the highest since 2008 in the second half of April due to a combination of a flat steel products shortage in the global market and strong demand.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $639 per tonne fob at the midp...Read More
Here are five Fastmarkets stories you might have missed on Monday April 26 that are worth another look.Liberty Steel Dudelange-Liege has been cancelling orders and shipments to customers that had agreed deals for cold-rolled coil and hot-dipped galvanized coil, sources have told Fastmarkets.Metal...Read More
The gap between the prices of rebar and hot-rolled coil exported from the Commonwealth of Independent States reached the highest since 2008 in the second half of April due to a combination of a flat steel products shortage in the global market and strong demand.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $639 per tonne fob at the midp...Read More
All base-metals prices on the London Metal Exchange were up by 1% or more at the 5pm close of trading on Monday April 26, with overarching bullish sentiment toward economic recoveries taking hold of the complex throughout the day.Copper and aluminium were the leaders of the rally on Monday, both reaching new 2021 highs during the day at $9,765 and $2,407 per tonne respectively.They closed at 5pm u...Read More
A cargo of 62% Fe Brazilian Blend iron ore fines was traded on Monday April 26 at a price of $194.40 per tonne cfr China on a trading platform, a record high since Fastmarkets' index for 62% Fe low-alumina fines, cfr Qingdao, was introduced in August 2018.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $193.58 per tonne, up by $7.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $194.40 pe...Read More
Copper's price reached $9,705 per tonne in the morning, while the rest of the London Metal Exchange base metals also started the week with higher prices on Monday April 26. Copper's price was up 1.6% on Monday morning to a new 2021 high - and its highest level since July 2011 - following a 1.9% rise over last week, when it closed at $9,551 per tonne on Friday. There were more than 11,000 lots...Read More
The European Commission will set definitive duties on hot-rolled coil from Turkey at marginally lower levels than for preliminary duties, sources told Fastmarkets. The EC imposed provisional anti-dumping duties of 4.80-7.60% in early January 2021. Both European and Turkish market sources said that the EC has sent letter to the interested parties with definitive duties that have been calculate...Read More
Flat steel prices in Russia's Central Federal District around Moscow continued to increase over the past seven days, supported by a strong export market and good demand, sources told Fastmarkets on Monday April 26.Hot-rolled sheetHot-rolled sheet offer prices for May from Severstal were heard at 92,000 roubles ($1,228) per tonne for stockists, the same as last week.Other key suppliers to the regio...Read More
Copper's price reached $9,705 per tonne in the morning, while the rest of the London Metal Exchange base metals also started the week with higher prices on Monday April 26. Copper's price was up 1.6% on Monday morning to a new 2021 high - and its highest level since July 2011 - following a 1.9% rise over last week, when it closed at $9,551 per tonne on Friday. There were more than 11,000 lots...Read More
Copper led the London Metal Exchange base metals higher this morning, Monday April 26, and most of the base metals on the Shanghai Futures Exchange were up too, while the market continued to benefit from the strong purchasing managers' index (PMI) data that was out on Friday. US markets managed to shake-off concerns about US President Joe Biden's tax plans Base metalsLME three-month base metals pr...Read More
Hot-rolled coil prices in the United States have soared above $72 per hundredweight ($1,440 per short ton), setting another historic high, with market participants expecting additional price increases due to continuing tight spot supply.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $72.67 per cwt ($1,453.40 per ton) on Monday April 26, up by 1.37% from $71.69 per cw...Read More