Import prices for flat-rolled steel rose sharply in South America during the week to Friday November 13, with negotiations for January shipments starting to settle faster than expected due to drastically higher offers from China, market participants told Fastmarkets."China is increasing prices fast, and there is no doubt those higher offers are becoming predominant," one Brazil-based trader source...Read More
Indian mills were seeking a price increase of $20 per tonne for exports of steel hot-rolled coil because the domestic price of the commodity was expected to continue to rise for the rest of this year, Fastmarkets heard on Friday November 13.All three major Indian HRC exporting mills were currently out of the export market."[Indian mills] may consider prices of $555-565 per tonne fob for HRC export...Read More
The US Department of Commerce has set affirmative preliminary anti-dumping margins against imports of pre-stressed concrete (PC) steel wire strand from Indonesia, Italy, Malaysia, South Africa, Spain, Tunisia and Ukraine. Commerce found that PC strand was dumped into the United States at the following rates: Indonesia: 2.96-72.28% Italy: 3.67-19.26% Malaysia: 3.70-18.93% South Africa: 59.27% Spain...Read More
Domestic steel rebar prices in Poland held steady in the week to Friday November 13, despite weakening buying activity, sources told Fastmarkets.During the assessment week, purchasing slowed down in the Polish rebar market, although local producers were "not ready for any significant price cuts," market participants told Fastmarkets."Demand is worse than in October, but mills a...Read More
Eastern China's domestic prices were unchanged on Friday November 13 amid healthy demand ahead of the weekend despite early losses in the futures market. Spot prices in the region ended the week 170 yuan per tonne higher, however. DomesticEastern China (Shanghai): 4,060-4,090 yuan ($614-619) per tonne, unchanged Northern China (Beijing) weekly assessment: 3,930-3,960 yuan per tonne, up by 170 yuan...Read More
The price of stainless steel scrap in Europe and the UK moved up this week because of tight supply and higher nickel costs, sources told Fastmarkets on Friday November 13.Fastmarkets' weekly assessment for stainless steel scrap, 18/8 solids, domestic, delivered merchants UK, was ?950-1,000 ($1,251-1,317) per tonne on Friday, up by ?20-50 per tonne week on week from ?930-950 per tonne.Prices in...Read More
Improving demand for finished and semi-finished steel products across the major outlets has increased scrap prices in the major markets over the week to Friday November 13.Turkish mills continued to pay more for deep-sea scrap cargoes, because they have secured a lot of rebar sales, while demand for billet in China drove up the prices in Asia. The supply of scrap, however, was tightening and suppo...Read More
The market for deliveries of steel scrap to domestic consumers in the UK has increased for contracts in November, bouncing on firm fundamentals, with tighter supplies into yards and strong demand from local and overseas buyers, industry sources said in the week to Friday November 13.The market to domestic steel mills and foundries, which is delivered on a monthly basis, has been settled at prices...Read More
Export prices for Brazil-origin steel slab increased in the week ended Friday November 13, with offer levels continuing to rise and only limited volumes available.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, narrowed upward by $15 per tonne to $515-540 per tonne on Friday, from $500-540 per tonne a week earlier.Offers to the United States remained at $540 per...Read More
A price rise was achieved in a fresh contract for CIS-origin steel billet with a customer in Latin America, as had been expected earlier this week, Fastmarkets learnt on Friday November 13.A 35,000-tonne cargo of Ukraine-origin billet was sold to Peru at $430 per tonne fob Black Sea. According to market participants, the material was of basic grade so no extra payments were included.Optimism preva...Read More
Continued growth in China's automotive sales and output during October has underpinned prices for some key upstream raw materials.China produced a total of 2.55 million vehicles last month, an increase of 11% from a year earlier, according to data released by the China Association of Automobile Manufacturers (CAAM) on Wednesday November 11. This marked the seventh consecutive month that both outpu...Read More
Tata Steel has initiated discussions with Swedish steelmaker SSAB over the sale of its IJmuiden plant in The Netherlands, the company said on Friday November 13.Tata Steel has also initiated the process of splitting its main European operations - Tata Steel Netherlands and Tata Steel UK - with the aim of pursuing separate strategic paths for the two businesses. "Tata Steel...Read More
Continued growth in China's automotive sales and output during October has underpinned prices for some key upstream raw materials.China produced a total of 2.55 million vehicles last month, an increase of 11% from a year earlier, according to data released by the China Association of Automobile Manufacturers (CAAM) on Wednesday November 11. This marked the seventh consecutive month that both outpu...Read More
US hot-rolled coil prices continue to hover around $36 per hundredweight ($720 per ton) amid fears that scant spot availability could snarl downstream supply chains, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $35.96 per hundredweight on Friday November 13, little changed from $36 per cwt on November 12 and up 4.4% from $34.43 per cwt a we...Read More
Export prices for Brazil-origin steel slab increased in the week ended Friday November 13, with offer levels continuing to rise and only limited volumes available.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, narrowed upward by $15 per tonne to $515-540 per tonne on Friday, from $500-540 per tonne a week earlier.Offers to the United States remained at $540 per...Read More
Import prices for flat-rolled steel rose sharply in South America during the week to Friday November 13, with negotiations for January shipments starting to settle faster than expected due to drastically higher offers from China, market participants told Fastmarkets."China is increasing prices fast, and there is no doubt those higher offers are becoming predominant," one Brazil-based trader source...Read More
Aluminium primary foundry alloy (PFA) premiums in Europe rose to near pre-Covid-19 levels on Friday November 13 due to strengthening demand, while the premium in the United States held at the previous monthly assessment range in quiet conditions.European premiums up on demand recoveryPFA premiums continued to move higher, with demand in the region remaining strong due to fears of Covid-19-related...Read More
The Shanghai Futures Exchange aluminium price rose to a three-year high on Friday November 13 on expectations of a better macroeconomic environment following the end of the United States presidential election campaign as well as good downstream demand, according to market participants. The most active aluminium price on the SHFE hit 15,700 yuan ($2,373) per tonne on November 13, up 1% or 150...Read More
The seaborne premium hard coking coal cfr price edged up on Friday November 13 due to continued restrictions on Australian coal imports, while seaborne coking coal fob prices across the board remained flat, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.40 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $153.58 per tonne, up $0.51 per tonneHard co...Read More
An overview of the aerospace materials markets and the latest price moves.Fastmarkets has reworked the market reports...Read More