Base Metal Stock Articles

IN CASE YOU MISSED IT: 5 key stories from February 23

February 24, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More

US hot-rolled coil index climbs past $61/cwt to another record

February 24, 2021 / Staff reporter

Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.17 per hundredweight ($1,223.40 per short ton) on Tuesday February 23, an incre...Read More

Brazil's CSN seeks further domestic price increase in March

February 24, 2021 / Staff reporter

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More

IN CASE YOU MISSED IT: 5 key stories from February 23

February 24, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More

GULF STEEL BILLET, REBAR: Market quiet ahead of expected price rises

February 24, 2021 / Staff reporter

The steel billet and rebar markets in the United Arab Emirates remained quiet in the week to Tuesday, February 23, with buyers expecting prices to increase, sources told Fastmarkets."If the prices will increase is not the question," a trader said, "[but rather] by how much will prices increase?" Rebar producers in the UAE are expected to announce new prices soon and buyers have been in wait-a...Read More

Strong oil prices, high vessel demand boost bulk freight rates

February 24, 2021 / Staff reporter

A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More

IN CASE YOU MISSED IT: 5 key stories from February 23

February 24, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More

Mexican steel scrap prices fall amid gas shortage, production cuts

February 24, 2021 / Staff reporter

Steel scrap prices in Mexico resumed their downtrend in the week ended Friday February 19, especially in obsolete grades, with deals reported at lower prices because of energy and gas shortages in the country.A wide range of price cuts were reported, depending on volumes and grades. Most market participants saw price reductions of 300-600 pesos ($15-29) per tonne during the week, while some buyers...Read More

DAILY STEEL SCRAP: Prices firmer on higher freight costs, strong demand

February 24, 2021 / Staff reporter

Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More

IN CASE YOU MISSED IT: 5 key stories from February 23

February 24, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More

CIS STEEL BILLET: Fresh sales to Turkey push prices upward

February 24, 2021 / Staff reporter

Export prices for steel billet from the Commonwealth of Independent States surged on Tuesday February 23, with several cargoes sold at higher prices to Turkey.Turkish customers accepted price increases for billet because of the continuing uptrend in the sector, based on import scrap and local billet prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turk...Read More

Strong oil prices, high vessel demand boost bulk freight rates

February 24, 2021 / Staff reporter

A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More

Brazil's CSN seeks further domestic price increase in March

February 24, 2021 / Staff reporter

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More

EU decides to skip preliminary anti-subsidy duties on Turkish HRC, investigation continues

February 24, 2021 / Staff reporter

The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.The investigation, however, will continue, the EC said on February 18.The investigation was started in June 2020, following a complaint lodged by the European steel association Eurofer.Provisional measures in the anti-subsidy case were scheduled to be set by March 12, 2...Read More

Brazil flat steel distributor sales up 16% in Jan 2021 - Inda

February 24, 2021 / Staff reporter

Flat-rolled steel distributors in Brazil reported a 16.2% year-on-year increase in sales volumes during January, while daily rates reached their highest level in seven years, national distributor association Inda said on Tuesday February 23.Sales volumes reached 324,600 tonnes in January, up from 279,400 tonnes a year before, Inda data shows, while the daily average was 16,200 tonnes, the highest...Read More

IN CASE YOU MISSED IT: 5 key stories from February 23

February 24, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More

US hot-rolled coil index climbs past $61/cwt to another record

February 24, 2021 / Staff reporter

Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.17 per hundredweight ($1,223.40 per short ton) on Tuesday February 23, an incre...Read More

Brazil's CSN seeks further domestic price increase in March

February 24, 2021 / Staff reporter

Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More

Mexican steel scrap prices fall amid gas shortage, production cuts

February 24, 2021 / Staff reporter

Steel scrap prices in Mexico resumed their downtrend in the week ended Friday February 19, especially in obsolete grades, with deals reported at lower prices because of energy and gas shortages in the country.A wide range of price cuts were reported, depending on volumes and grades. Most market participants saw price reductions of 300-600 pesos ($15-29) per tonne during the week, while some buyers...Read More

IN CASE YOU MISSED IT: 5 key stories from February 23

February 24, 2021 / Staff reporter

Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More

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