Market sources expect domestic prices for steel hot-rolled coil in Europe to remain strong on support from reduced availability and long lead times, sources told Fastmarkets on Thursday February 18.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?725 ($874.46) per tonne on Thursday February 18, down by ?,?4 per tonne from ?,?729 per tonne on Februar...Read More
Steel rebar buyers in Egypt expect prices to increase for March production orders because of rising production costs, sources told Fastmarkets on Thursday, February 18.Demand, however, remains weak because of the limited number of permits being granted for new buildings in the country since the easing of the ban on construction, they added.The cost of steelmaking raw materials from the Commonwealt...Read More
Turkish steel billet prices have increased over the past week due to rising imported scrap costs, market sources told Fastmarkets on Thursday February 18.Despite the most recent deep-sea scrap bookings taking place on February 10, prices for the steelmaking raw material have risen by more than $22 per tonne on a weekly basis.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin,...Read More
Domestic long steel prices in Turkey have continued to increase with support from rising scrap values, market sources said on Thursday February 18.Turkish steelmakers had resumed their deep-sea scrap bookings on February 10, dragging prices up by more than $22 per tonne on a weekly basis.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $408.69 per tonne on...Read More
Italian steel distributors' association Assofermet has sent a letter to the European Commission highlighting distortion in the European Union carbon and stainless flat steel market caused by anti-dumping and safeguard measures. The association has specifically asked not to prolong existing safeguard measures into steel imports beyond their expiration on June 30 this year, it said on Wednesday Febr...Read More
Turkish export prices for steel rebar and wire rod have increased over the past week amid rising import costs for scrap and a recovery in demand, market sources said on Thursday February 18.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $605-620 per tonne on Thursday, up from last week's $595-600 per tonne.The steel producers in the countr...Read More
Three workers who were trapped in the rubble after an explosion at major South African steelmaker ArcelorMittal Vanderbijlpark have been found dead, local news providers said on Thursday February 18.Early on February 17, a portion of a stack at one of the mill's coke batteries fell onto a control room where three employees were working, trapping them under the rubble. Rescue teams worked throughou...Read More
Prices for steel scrap imported to Bangladesh accelerated over the last seven days despite a hesitancy from buyers to pay higher rates, market participants told Fastmarkets on February 18.Bangladeshi steel scrap prices have swelled in the last week in line with other major import markets such as Turkey and India, although few sales were heard at the new levels.Shredded scrap in containers was hear...Read More
Iron ore prices surged on Thursday February 18 on support from strong steel prices and positive sentiment regarding steel inventory, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $175.05 per tonne, up $8.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $175.50 per tonne, up $8.25 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.22 per tonne, up $7.56...Read More
Seaborne premium hard coking coal prices edged up on Thursday February 18, with Chinese market participants back from the Lunar New Year holiday, but there was still uncertainty over the direction of the cfr market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $141.26 per tonne, up $0.06 per tonnePremium hard coking coal, cfr Jingtang: $217.48 per tonne, up $0.25 per tonne H...Read More
Chinese steelmakers looking to replenish steel scrap stocks after returning from their new year holiday on Thursday February 18, have raised bid prices for both domestic and imported material, sources told Fastmarkets.On the first day back after the holiday, a Shandong mill raised its tender for heavy scrap by 50 yuan per tonne on Thursday to 3,050 ($472) yuan per tonne delivered, excluding value-...Read More
China's hot-rolled coil prices surged on Thursday February 18, the first trading day after the week-long Chinese New Year public holiday, with sales gains in the home appliances sector during the break boosting sentiment.DomesticEastern China (Shanghai): 4,740-4,750 yuan ($734-735) per tonne, up 250-270 yuan per tonneTraders told Fastmarkets that few buyers were willing to place orders after the p...Read More
China's domestic rebar prices increased sharply on Thursday February 18 amid optimism generated by the release of positive financial data. DomesticEastern China (Shanghai): 4,450-4,480 yuan ($688-693) per tonne, up by 170-180 per tonne A total of 3.58 trillion yuan worth of new bank loans were issued in China in January, up by 225 billion yuan (6.7%) from a year earlier and a record high.The count...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam,...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb...Read More
Key data from the pricing session in London on Friday February 17.Key drivers Prices corrected downward in the first half of the week with traders profit-taking while end-user inquiries slow. The European manganese flake market started the year at $2,120-2,280 per tonne and reached its year-to-date high of $2,800-2,940 per tonne...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.There are potential headwinds – namely the rising US treasury yields and talk that US taxes may have to rise to help pay for the pandemic respo...Read More
NextEra Energy (NEE), an S&P 100 stock moved below $79.61 completing a double top pattern.Pre-opening Comments for Friday February 19thU.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US79.28 cents following release following release of Canada's December Retail Sales report at 8:30 AM...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 17 that are worth another look.All future new-build vessels to be owned by shipping operator Maersk will have dual-fuel technology installed, allowing either carbon-neutral operations or the use of standard very low sulfur fuel oil...Read More
Nickel premiums in the US and Europe were steady in the week to Tuesday February 17, with both markets broadly stagnant against a well-supported LME three-month nickel price, while Asia's absence from the market saw minimal spot activity.Tight briquette supply sees US market seek alternative products US cut cathode sentiment weakens amid 4x4 uptakeEuropean market laments high price amid stati...Read More