Turkish domestic long steel prices increased further over the past seven days in line with the weakening of the country's lira against the US dollar, sources said on Thursday August 27.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,860-3,870 lira ($523-524) per tonne on Thursday, up from the 3,790-3,810 lira per tonne of last week.The domestic r...Read More
The Turkish steel producers have taken a break from deep-sea scrap purchases after booking a number of cargoes earlier in the week, sources said on Thursday August 27.The mills in Turkey booked six deep-sea scrap cargoes from various destinations at slightly higher prices this week, totalling around 220,000 tonnes.The most recent bookings brought the HMS 1&2 (80:20) price to $287.50 per tonne cfr...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the year 2020 to date in late August, the Fastmarkets 62% Fe iron ore benchmark has powered along and reached six-year highs, supported by Chinese demand, and despite the global economic uncertainty created by the Covid-19 pandemic. Iron ore demand has weakened almost everywhere except in China, where it has continued to...Read More
Prices for bulk cargoes of scrap imported to Bangladesh moved up again over the last week with offer prices from key exporters on the rise, market participants told Fastmarkets.At least two mills have been shopping around the market for bulk cargoes this week, Fastmarkets understands, with offer prices from both Japan and the United States at higher levels than last week.Sellers in the US West Coa...Read More
Turkish steel billet prices have been largely stable over the past week but could be pushed up by stronger scrap costs soon, sources said on Thursday August 27.Fastmarkets' weekly price assessment for steel billet, domestic, exw Turkey, was $420-425 per tonne ex-works on August 27, unchanged week on week."The mills had lowered their billet offers to as low as $417 per tonne ex-works earlier this w...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 27 that are worth another look.Domestic prices for hot-rolled coil in Northern Europe moved further up day on day on Thursday August 27, sources told Fastmarkets.Aluminium producers have begun their...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market under pressureUS prices for welded pipe products were under pressure because market participants, especially distributors, have started to take steps to generate cash and were moving material if they were able to do so, even if it meant selling at low prices.We expect more such "fire sales" in the coming months, bu...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 27 that are worth another look.Domestic prices for hot-rolled coil in Northern Europe moved further up day on day on Thursday August 27, sources told Fastmarkets.Aluminium producers have begun their...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market under pressureUS prices for welded pipe products were under pressure because market participants, especially distributors, have started to take steps to generate cash and were moving material if they were able to do so, even if it meant selling at low prices.We expect more such "fire sales" in the coming months, bu...Read More
Three-month prices for base metals on the London Metal Exchange were mostly flat at the close of trading on Thursday August 27, with investor sentiment jittery after US Federal Reserve chair Jerome Powell announced a greater focus on job security in Thursday's meeting, while tin futures performed best in high-volume trading.Powell highlighted targets for an average inflation rate of 2% over time,...Read More
The publication of Fastmarkets' European cobalt price assessments on Thursday August 27 was delayed due to technical issues.The Fastmarkets price book and database have both since been updated.The cobalt price assessments affected by the delay were:MB-CO-0004 Cobalt alloy grade, in-whs Rotterdam, $ per lbMB-CO-0005 Cobalt standard grade, in-whs Rotterdam, $ per lbFor more information, or to provid...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 27 that are worth another look.Domestic prices for hot-rolled coil in Northern Europe moved further up day on day on Thursday August 27, sources told Fastmarkets.Aluminium producers have begun their...Read More
Aluminium producers have begun their negotiations for the fourth-quarter Japan aluminium benchmark premium, and participants told Fastmarkets they expect premiums to rise, albeit marginally. The benchmark quarterly main Japanese ports (MJP) premium has fallen each quarter this year from $83 per tonne in the first quarter, to $82 per tonne in the second and $75-79 per tonne in the third quarte...Read More
Three-month prices for base metals on the London Metal Exchange were mostly flat at the close of trading on Thursday August 27, with investor sentiment jittery after US Federal Reserve chair Jerome Powell announced a greater focus on job security in Thursday's meeting, while tin futures performed best in high-volume trading.Powell highlighted targets for an average inflation rate of 2% over time,...Read More
Seaborne coking coal prices were relatively flat across the board despite recent transactions done in the fob market, although market participants agreed that India alone cannot support the premium for mid-volatility hard coking coal prices for long. Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.92 per tonne, up $0.01 per tonne Premium hard coking coal, cfr Jingtang: $114.70 per tonn...Read More
Three-month base metals prices on the London Metal Exchange largely consolidated during morning trading on Thursday August 27, with thin turnover seeing price action largely unmoved, while continued weakness in the US dollar index failed to spur buying sentiment across metal markets ahead of this afternoon's Federal Reserve speech.Federal Reserve chair Jerome Powell is set to give a talk later on...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US market under pressureUS prices for welded pipe products were under pressure because market participants, especially distributors, have started to take steps to generate cash and were moving material if they were able to do so, even if it meant selling at low prices.We expect more such "fire sales" in the coming months, bu...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the year 2020 to date in late August, the Fastmarkets 62% Fe iron ore benchmark has powered along and reached six-year highs, supported by Chinese demand, and despite the global economic uncertainty created by the Covid-19 pandemic. Iron ore demand has weakened almost everywhere except in China, where it has continued to...Read More
Aluminium producers have begun their negotiations for the fourth-quarter Japan aluminium benchmark premium, and participants told Fastmarkets they expect premiums to rise, albeit marginally. The benchmark quarterly main Japanese ports (MJP) premium has fallen each quarter this year from $83 per tonne in the first quarter, to $82 per tonne in the second and $75-79 per tonne in the third quarte...Read More
Italian re-rollers have failed to achieve price rises for heavy steel plate due to poor demand from main consuming segments, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was unchanged over the week at ?,?440-470 ($520-555) per tonne on August 26, compared with ?,?450-470 per tonne a week earlier.Official offers for material hav...Read More