Turkish steel mills broke their silence in the deep-sea scrap market on Thursday October 8, booking two cargoes after achieving lower prices, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $285 per tonne and 25,000 tonnes of shredded at $290 per tonne cfr.The same mill also booked a Baltic Sea cargo, consist of 24,000.....Read More
Prices for steel scrap imported into Bangladesh in containers have gone down again over the past week, while those for bulk cargoes were steadier, market participants told Fastmarkets on Thursday October 8.Weaker scrap market sentiment across the globe in recent weeks, combined with unfavorable Bangladeshi steel prices, has led to mills in the country presenting scrap sellers with cheap bids over...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Thursday October 8, while equity markets were mainly upbeat because US fiscal packages may still be forthcoming. US President Donald Trump changed his tune on Wednesday, from postponing stimulus talks with the Democrats to encouraging them to pass a string of single rescue packages to targeted areas.Likewise, with Democratic...Read More
Domestic prices for hot-rolled coil in Europe were fairly stable day on day Thursday October 8 as buyers held back from making new deals, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?496.35 ($583.31) per tonne on October 8, down by ?,?1.15 per tonne from ?,?497.50 per tonne on Wednesday October 7.Still, the index wa...Read More
Reinforcing bar steel prices and demand in the United States were steady week on week, market participants said. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $29.75 per hundredweight ($595 per short ton) on Wednesday October 7.US market"I don't see any downward pressure," a mill source said. "We expect steady to up on prices."Indeed, prices for shredded auto...Read More
Turkish domestic long steel prices have been giving mixed signals between the effects of falling scrap costs and the weakening of the country's lira, sources said on Thursday October 8.Domestic rebar prices have gone down due to weak demand and the negative sentiment in the scrap markets, despite the weakening lira pushing them upward.Fastmarkets' weekly price assessment for steel reinforcing bar...Read More
Steel billet and rebar prices were stable in Egypt in the week to Thursday, October 8 while demand failed to improve because buyers were expecting prices to fall, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25. Although, the Egyptian government decided to ease the rules of the ban on September 29.Buying was wea...Read More
Turkish steel mills broke their silence in the deep-sea scrap market on Thursday October 8, booking two cargoes after achieving lower prices, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $285 per tonne and 25,000 tonnes of shredded at $290 per tonne cfr.The same mill also booked a Baltic Sea cargo, consist of 24,000.....Read More
ArcelorMittal will permanently close its Krakow steelworks' hot area due to the dramatic effects of Covid-19 on the European steel market, but coke plant and rolling mills will remain operational, the company said on Thursday October 8. ArcelorMittal said that despite the recent rebound in steel demand in Europe, it remains considerably below pre-pandemic levels. "The Covid-19 pandemic has had unp...Read More
Prices for steel scrap imported into Bangladesh in containers have gone down again over the past week, while those for bulk cargoes were steadier, market participants told Fastmarkets on Thursday October 8.Weaker scrap market sentiment across the globe in recent weeks, combined with unfavorable Bangladeshi steel prices, has led to mills in the country presenting scrap sellers with cheap bids over...Read More
ArcelorMittal will permanently close its Krakow steelworks' hot area due to the dramatic effects of Covid-19 on the European steel market, but coke plant and rolling mills will remain operational, the company said on Thursday October 8. ArcelorMittal said that despite the recent rebound in steel demand in Europe, it remains considerably below pre-pandemic levels. "The Covid-19 pandemic has had unp...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
Mexican automotive production dropped by 5.50% year-on-year in September 2020, with the country's output only gradually recovering from the effects of the Covid-19 pandemic, according to national automotive association Amia.The country assembled 301,426 light vehicles in September, down from 318,906 units in the corresponding month in 2019.Compared with August, however, production increased by 2.7...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
Reinforcing bar steel prices and demand in the United States were steady week on week, market participants said. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $29.75 per hundredweight ($595 per short ton) on Wednesday October 7.US market"I don't see any downward pressure," a mill source said. "We expect steady to up on prices."Indeed, prices for shredded auto...Read More
The three-month aluminium price on the London Metal Exchange was the standout performer at the close of trading on Thursday October 8, breaching nearby resistance levels amid growing concerns over instability at Malaysian commodities hub Port Klang, while the metal's forward curve continued to shrink into the afternoon.Aluminium's outright price on the LME closed at $1,804 per tonne on Thursday af...Read More
Domestic prices for hot-rolled coil in Europe were fairly stable day on day Thursday October 8 as buyers held back from making new deals, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?496.35 ($583.31) per tonne on October 8, down by ?,?1.15 per tonne from ?,?497.50 per tonne on Wednesday October 7.Still, the index wa...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 8 that are worth another look.The European Commission (EC) has set definitive anti-dumping duties on imports of hot-rolled flat stainless steel products from Indonesia, China and Taiwan, it announced in a document published on Tuesday October 6.Read More
The three-month aluminium price on the London Metal Exchange was the standout performer at the close of trading on Thursday October 8, breaching nearby resistance levels amid growing concerns over instability at Malaysian commodities hub Port Klang, while the metal's forward curve continued to shrink into the afternoon.Aluminium's outright price on the LME closed at $1,804 per tonne on Thursday af...Read More