Global prices on the key scrap markets have rebounded in the working week to Friday February 12 after Turkey returned to the market to book cargoes at higher prices.Turkey returns to market at higher pricesUS market ends two-week dry spellTaiwanese importers look for material on market reboundIndian prices boosted by Turkey's return to market.TurkeyTurkish mills did not return to the deep-sea mark...Read More
Indian secondary billet prices were supported higher in the week to Friday February 12 by increased demand and a resurgence in prices of finished products. The Indian secondary billet market had been slipping since the second week of January, before rising by around $15 per tonne in the latest assessment period. Fastmarkets' price of steel billet domestic, ex-works India was up by 1,100 rupee...Read More
The prospects for the global long steel market in 2021 remain rather optimistic despite some fluctuations, the International Rebar Producers & Exporters Association (Irepas) said on Wednesday February 10. "2021 looks very likely to be a year of rebound, a year of multilateral boosts to the global resurrection, with less political uncertainty. It is highly likely that demand will be good this year,...Read More
The price of flat-rolled stainless steel in Europe continued to surge higher in the week to Friday February 12 on high raw materials costs and long delivery times, market sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?2,600-2,650 ($3,153-3,214) per tonne on Friday, up by ?,?10...Read More
Demand for steel in the European Union is expected to rebound by 13.3% year on year in 2021 after a 13% slump in 2020, the European steel association Eurofer said this week. Steel demand in the region had been on a negative trend through most of 2020, largely due to pressures resulting from Covid-19 pandemic-related restrictions across Europe, the association said. in its quarterly Econo...Read More
Demand for steel in the European Union is expected to rebound by 13.3% year on year in 2021 after a 13% slump in 2020, the European steel association Eurofer said this week. Steel demand in the region had been on a negative trend through most of 2020, largely due to pressures resulting from Covid-19 pandemic-related restrictions across Europe, the association said. in its quarterly Econo...Read More
Brazilian flat steel producer Usiminas estimates that, after recent price increases and including taxes, domestically produced flat steel is sold at a premium of around 10% compared with imported material - a level the company sees as the "ideal" difference between prices of imported and domestically made material."[Our price] in the domestic market is currently within Usiminas' target," commercia...Read More
Demand for steel in the European Union is expected to rebound by 13.3% year on year in 2021 after a 13% slump in 2020, the European steel association Eurofer said this week. Steel demand in the region had been on a negative trend through most of 2020, largely due to pressures resulting from Covid-19 pandemic-related restrictions across Europe, the association said. in its quarterly Econo...Read More
Luxembourg-based steelmaker ArcelorMittal has decided to resume its galvanizing capacity expansion project in southern Brazil in response to fast-growing demand in the country, the company stated in its fourth-quarter earnings report published on Thursday February 11.The project aims to increase cold-rolling and galvanizing capacity by 700,000 tonnes per year at ArcelorMittal's Vega do Sul un...Read More
Aluminium billet premiums in the United States, Germany and Spain firmed near two-year highs on Friday February 12 as demand outpaced supply in those regions. Premiums in Asia and South America were steady.US billet premium jumps to March 2019 levelsEuropean premiums climb; third-quarter talks beginBrazilian billet premium steady despite higher dealsPremium flat in Thailand; freight costlyUnited S...Read More
Brazilian flat steel producer Usiminas estimates that, after recent price increases and including taxes, domestically produced flat steel is sold at a premium of around 10% compared with imported material - a level the company sees as the "ideal" difference between prices of imported and domestically made material."[Our price] in the domestic market is currently within Usiminas' target," commercia...Read More
Hot-rolled coil prices in the United States have fallen by nearly $20 per short ton ($1 per hundredweight) one day after reaching an all-time high, while buyers weighed the risks of purchasing material at these levels.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $58.67 per cwt ($1,173.40 per ton) on Friday February 12, down by 1.61% from $59.63 per cwt on Thursday...Read More
Brazilian rebar prices rose in February after producers questioned whether an increase was sustainable amid a downturn in international markets.Fastmarkets assessed the price of steel reinforcing bar (rebar) domestic monthly, delivered Brazil at 4,720-4,860 Reais ($877-903) per tonne on Friday February 12, up from 4,495-4,575 Reais per tonne on January 8.In late January, steel mills were pushing f...Read More
A shortage of containers to ship commodities around the world and the consequent soaring in associated freight rates have led to a revival of interest in breakbulk cargoes. Producers and physical traders of metals, agricultural, chemical and timber products have been starting to book shipments in breakbulk vessels, which cost far less and doesn't require vast amounts of equipment in port. On the m...Read More
Zinc's price rose the most in the London Metal Exchange base-metals complex in the week to Friday February 12, with all metals showing weekly increases of 2% or more, and with new year-to-date highs for copper, lead, aluminium and tin during the day.Zinc's three-month price rose by 7% throughout the week, closing at 5pm on Friday at $2,834.50 per tonne, its highest since January 8.The galvanizing...Read More
Zinc and lead prices continued on their upward trajectories on the morning of Friday February 12, which the nickel price fell by 1.3% on a day that is likely to see little trading due to the Chinese New Year. The three-month zinc price rose to $2,795 per tonne at 9am from Thursday's closing price of $2,789.50. It rose 2.4% on Thursday from the previous day, and its weekly gain is of around 6%. It...Read More
With Greater China on holiday, base metals trading on the London Metal Exchange has been quiet this morning, Friday February 12, with prices little changed and trading volumes light - but so far prices are holding up in high ground.The outlook for metals demand is strong, but could it be derailed by the global semiconductor shortage?Base metalsThree-month base metals prices on the L...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US hot-rolled coil prices moved in line with our forecasts in January, with actual prices modestly exceeding our forecasts for the month. Fastmarkets' US HRC index averaged $1,099 per ton in January, slightly above our forecast price of $1,075 per ton for the month. W...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The uptrend in European flat steel prices continued in January 2021 as expected, with the prices for hot-rolled coil in the North and South of the region averaging ?,?698 and ?,?686 ($840 and $826) per tonne respectively, within 1% of the Fastmarkets research forecasts.With European HRC prices climbing to their highest level...Read More
The export market for pig iron from the Commonwealth of Independent States was soft during the week to Thursday February 11, but sentiment improved in the middle of the week on stronger scrap. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $495-510 per tonne on Thursday, widening upward from $495-500 per tonne a week before."Buyers are ra...Read More