Mexican steel scrap prices skyrocketed in the week ended Friday January 15, with steelmakers struggling with low inventories and increasing their buying prices to secure supply.In both regions where prices are assessed by Fastmarkets, major scrap consumers applied price increases early last week, and some applied a second increase between January 15 and 18.In the region near the northern city of M...Read More
Turkish deep-sea scrap import prices have gone down once again in the latest trade heard for a US-origin cargo, sources said on Tuesday January 19.A steel mill in the Marmara region booked a US cargo, comprising 6,500 tonnes of HMS 1&2 (80:20) at $450 per tonne, 22,000 tonnes of shredded and 1,500 tonnes of bonus at $460 per tonne cfr. The deal was agreed on January 16, with the cargo scheduled to...Read More
The London Metal Exchange is proposing the permanent closure of its open-outcry trading floor and the incentivization of greater liquidity on its electronic trading platform, LMESelect. The proposals, laid out in a new discussion paper on future market structure, also include potential changes to the exchange's margin methodology and the introduction of potential additional disclosures and policie...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process. The rebound in the dollar in recent weeks seems to be acting as a headwindBase metals Three-month base metals prices on the LME were mixed this morning, with aluminium, nickel and lead weaker and down by an...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 19 that are worth another look.Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.Brazilian flat steel distributors...Read More
Hot-rolled coil prices in the United States held steady while buyers continued to struggle in their quest for spot tonnage at the domestic mills. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $56.86 per hundredweight ($1,137.20 per short ton) on Tuesday January 19, little-changed from $56.92 per cwt on the prior business day - Friday January 15 - and an increas...Read More
The domestic price for hot-rolled coil in Northern Europe inched down day on day on Tuesday January 19 due to slow market activity, sources told Fastmarkets. Both buyers and steelmakers have been holding back from making new deals, according to market participants. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?719.00 ($868.00) per tonne on Tuesda...Read More
Rebar buyers in the UAE have done deals this week at the higher prices announced last week, but there is little demand for billet imports because producers have ample stocks, sources told Fastmarkets on Tuesday January 19.And billet import activity is likely to remain slow for another week or two, depending on local demand for rebar, they added.Domestic rebarThe country's steel producers...Read More
China's domestic rebar prices lost their upward momentum on Tuesday January 19 amid a weakening of the futures market.DomesticEastern China (Shanghai): 4,300-4,330 yuan ($662-667) per tonne, unchangedRebar futures plunged on expectations of falling demand from the construction sector in the next month due to the Chinese New Year in the second week of February, sources said.As such, sellers in the...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 19 that are worth another look.Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.Brazilian flat steel distributors...Read More
Mexican steel scrap prices skyrocketed in the week ended Friday January 15, with steelmakers struggling with low inventories and increasing their buying prices to secure supply.In both regions where prices are assessed by Fastmarkets, major scrap consumers applied price increases early last week, and some applied a second increase between January 15 and 18.In the region near the northern city of M...Read More
Turkish deep-sea scrap import prices have gone down once again in the latest trade heard for a US-origin cargo, sources said on Tuesday January 19.A steel mill in the Marmara region booked a US cargo, comprising 6,500 tonnes of HMS 1&2 (80:20) at $450 per tonne, 22,000 tonnes of shredded and 1,500 tonnes of bonus at $460 per tonne cfr. The deal was agreed on January 16, with the cargo scheduled to...Read More
Prices for cargoes of steel billet imported to Southeast Asia have moved down over the past week amid a continued high volume of offers in the market, with some participants on the sell-side keen to close deals sooner rather than later, sources told Fastmarkets on Tuesday January 19.Buyers, perhaps sensing this greater desperation from sellers, have continued to drop their billet bid prices and la...Read More
Sales of passenger cars in the European Union dropped by 3.27% year on year in December 2020, the European Automotive Manufacturers Association (ACEA) said on Tuesday January 19. New car sales in the EU totaled 1.03 million vehicles in December 2020, down from 1.07 million units sold in the corresponding month of 2019. The four largest EU markets, however, recorded very different results, ACEA sai...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 19 that are worth another look.Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.Brazilian flat steel distributors...Read More
Hot-rolled coil prices in the United States held steady while buyers continued to struggle in their quest for spot tonnage at the domestic mills. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $56.86 per hundredweight ($1,137.20 per short ton) on Tuesday January 19, little-changed from $56.92 per cwt on the prior business day - Friday January 15 - and an increas...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 19.Please click...Read More
Mexican steel scrap prices skyrocketed in the week ended Friday January 15, with steelmakers struggling with low inventories and increasing their buying prices to secure supply.In both regions where prices are assessed by Fastmarkets, major scrap consumers applied price increases early last week, and some applied a second increase between January 15 and 18.In the region near the northern city of M...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 19 that are worth another look.Rabobank will close its commodity trade finance desks in London, Shanghai and Sydney after reviewing the embattled sector last summer.Brazilian flat steel distributors...Read More
The London Metal Exchange and its clearing house are revisiting a proposal to transition to a different way of calculating its clearing methodology. The exchange announced its discussion paper on the topic on Tuesday January 19. The last attempt was made in 2017 and was rejected by LME members because it would make the provision of credit lines expensive and result in the rapid withdrawal of...Read More