Prices for steel hollow sections in Europe moved up in the week to Wednesday March 24 after mills sought to pass on higher feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?890-920 ($1,058-1,094) per tonne on Wednesday, up from ?,?860-890 per tonne the previous week.The price of hot-rolled coil (HRC...Read More
Steel rebar prices in the north of Europe were stable in the week to Wednesday March 24, despite subdued buying activity, because of high feedstock prices, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?630-660 ($749-785) per tonne on Wednesday, unchanged for the second week in a row. The assessment...Read More
Domestic steel wire rod prices in the north of Europe were firm despite buyers' push for discounts, supported on good order books at mills, high scrap values and limited imports, Fastmarkets heard on March 24.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?660-690 ($785-820) per tonne on Wednesday, stable for the past three we...Read More
Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.The Turkish lira weakened sharply at the beginning of the week following the surprise decision by president Recep Tayyip Erdogan to sack central bank chief Naci Agbal and appoint a finance specialist,...Read More
Japanese steel scrap suppliers are limiting the volume of material they are offering to the market, in the expectation of a short-term recovery in prices, sources told Fastmarkets on Wednesday March 24."The supply side is stopping new offers and they feel the market will not decrease anymore," a Japanese steel scrap trader said.A second trading source added: "The Japanese domestic scrap market has...Read More
The trading stalemate in the Chinese ferrous scrap import market has remained over the past day, with buyers keeping their distance from purchasing amid limited offers from sellers.Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $460-470 per tonne on Wednesday March 24, unchanged from a day earlier.Major Chinese steel mills have not shown firm interest...Read More
China's domestic rebar prices regained upward momentum on Wednesday March 24, due to falling market stocks and a hike in futures values.DomesticEastern China (Shanghai): 4,720-4,740 yuan ($724-727) per tonne, up by 20 yuan per tonneTrading houses said rebar stocks have been gradually dropping over the past week because of reduced supplies from Tangshan and "not-bad" demand in the mild weather.Reba...Read More
Prices for steel hollow sections in Europe moved up in the week to Wednesday March 24 after mills sought to pass on higher feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?890-920 ($1,058-1,094) per tonne on Wednesday, up from ?,?860-890 per tonne the previous week.The price of hot-rolled coil (HRC...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
China released its 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 on March 12 following the annual meetings of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC).Fastmarkets summarizes five key targets under the new five-year plan that are likely to underpin corres...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
Prices for molybdic oxide and ferro-molybdenum continued on a downtrend during the first half of this week, with buyers holding out in anticipation of cheaper prices ahead.Fastmarkets' price assessment for ferro-molybdenum, 65% Mo min, in-whs Rotterdam, fell to $26.40-26.60 per kg on Wednesday March 24, down by 2.1% from $26.85-27.30 per kg on March 19.The corresponding price assessment for molybd...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 24.Please click...Read More
Domestic prices for heavy steel plate increased over the week to Wednesday March 24, supported by demand recovery and high costs for steel slab, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?700-720 ($832-856) per tonne on March 24, up by ?,?35-40 per tonne from ?,?665-680 per tonne a week earlier.The assessment was...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
The Shanghai Futures Exchange's plans to list ferro-chrome futures, potentially this year, will bring welcomed hedging opportunities and may weaken the dominance of China's stainless steel mills in the ore and alloy markets, participants told Fastmarkets.While no definite date or specifications of the ferro-chrome futures have been announced, Fastmarkets asked participants what changes these contr...Read More
Nicholas Quek has been appointed chief executive officer of Triland Metals Singapore Pte Ltd (TMS), with effect from Monday March 22.Quek joined TMS in April 1, 2019. Before becoming CEO, he was head of sales & trading.He replaces Shanthini Thaker, who...Read More
Minor metals prices have rebounded in the first quarter of 2021 after a year when the Covid-19 pandemic stifled trade and demand visibility. Fastmarkets highlights the key drivers behind the recent price moves. Strong demand from China China's economy began to restart last year far ahead of the rest of the world, which was still feeling the economic impact of Covid-19 shutdowns. Stimulus measures...Read More
Tin market participants say they saw the record-breaking squeeze coming, but in pandemic-time trading, how does it get back to normal?It was at the beginning of the year when the phones started to ring. Hedge funds, eager to hitch a ride on the steadily rising price of tin, were in the market to buy physical stocks of the valuable metal that is predominately used in electronics.Solder makers and s...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More