The latest forecasts from Fastmarkets' team of analysts are ready to view.This year has come with several unexpected events which increased the bullish case for iron ore prices, while the Chinese government's spending on infrastructure is likely to boost iron ore demand and add upside support to prices. But supply disruptions and a demand surge which caused price spikes are now easing. We do not e...Read More
The latest forecasts from Fastmarkets' teamof analysts are ready to view.Chinese crude steel production outperformed our expectations with its recovery since the Covid-19 pandemic lockdowns. Crude steel output was up by 2.3% year-on-year in the first half of 2020 to 503 million tonnes, and we have revised upward what was initially a more bearish forecast for this year. We now estimate that product...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prolonged flooding in China could limit the use of construction steel and drag down demand for steel rebar in the short term, which in turn could damp the demand for iron ore. So far, it has been reported that steel mills in the affected regions have continued to operate as normal. The floods have, however, caused a few days...Read More
The latest forecast from Fastmarkets' team of analysts is ready to view.As we enter the summer season across the northern hemisphere, almost half a year has passed since the Covid-19 pandemic began to seriously affect Europe and the United States.One would not really be able to tell that such a dramatic event had occurred by looking at stainless steel prices, however, because they are more or less...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are relatively stable this month, showing little change since our previous tracker. Such stability masks growing issues for stainless steelmakers, however, who are increasingly unable to pass on rising costs to consumers and are, thus, facing cuts to their margins.In general, this is due to an excess of...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are on the increase in June. As far as this market is concerned, it appears as though the Covid-19 pandemic has had little impact so far, with prices on the most common grades of stainless steel just 2-4% lower than they were at the turn of the year in most markets.Even in Asia, a region often talked ab...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices have fared relatively well over the past couple of months in the face of the threat from the Covid-19 pandemic.In grade-304 material, the most common grade of stainless steel, prices were down by about 5-7% since the turn of the year - not bad, when compared with the falls in prices of other assets so f...Read More
The Europe hollow steel sections market was quiet this week due to the traditional summer break, but participants said mills have already announced their intention to target higher prices when market activity resumes, Fastmarkets heard on Wednesday August 12. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?540-560 ($635-658) per tonne on W...Read More
Steel producers in Turkey continued to stay away from the deep-sea scrap market and maintained their focus on the finished long steel markets, sources said on Wednesday August 12.Turkish steelmakers have booked a number of cargoes in recent weeks, with the latest transactions for HMS 1&2 (80:20) from the US and Baltic Sea done at $285 per tonne cfr.But the mills went quiet in the deep-sea markets...Read More
A spike in ammunition sales amid concerns over civil unrest in the United States in the wake of the death of George Floyd has boosted lead scrap prices, with increased demand for firearms putting domestic supplies under pressure.A lead and zinc scrap dealer told Fastmarkets that physical demand for lead scrap was being underpinned by robust buying activity from ammunition manufactures amid a rise...Read More
Stainless steel scrap prices in the United States diverged this week, with the 300-series grades inching higher - supported by rising nickel prices - while the 400-series grades lost ground."I would call this market stable. Supply and demand appear to be in balance, and the London Metal Exchange is supporting pricing for the 300 stainless grades despite the mills operating at less than stellar cap...Read More
The publication of Fastmarkets' UK aluminium scrap price assessments for August 12 will be delayed because of a technical issue. Fastmarkets' pricing database, MInD, will be updated later in the day at around 10:45pm London time to reflect the price changes for the following prices: MB-AL-0011 Aluminium scrap commercial pure cuttings, delivered consumer UK, ?/tonne August 5 price: ?750-800...Read More
Tin premiums around the world were unchanged over the past fortnight, with a downtrend in LME futures prices failing to kickstart purchases from consumers, Fastmarkets heard. European and Shanghai tin premiums flat LME price drops to $17,660 per tonne from one-year highs in July Spread tightness eases in the tin cash/three-month chart Stagnant demand leaves European tin premiums steady In Europe...Read More
Premiums for grade A copper cathodes in Asia declined in the week ended Tuesday August 11, with buying activity diminished against reduced demand, and a closed import arbitrage window similarly hampering business, while seasonal maintenance closures across Europe kept premiums steady.Asian market participants expect weaker demand Business still hand-to-mouth across Taiwan, Vietnam European sellers...Read More
Hot-rolled coil prices in the United States continued to hover around $23 per hundredweight ($460 per short ton) this week, while demand outlook remained unclear, according to sourcesFastmarkets' daily hot-rolled coil index, fob mill US was calculated at $22.96 per cwt ($459.20 per ton) on Wednesday August 12, down 0.5% from $23.08 per cwt on Tuesday August 11, but up 0.2% from $22.91 per...Read More
Consumption of steel end-products by Turkey increased by 8.7% year-on-year in January-June 2020, while crude steel production decreased by 16.3% compared with the first six months of 2019, the Turkish Steel Producers' Association (TCUD) said on Tuesday August 11.The TCUD believed that the decline in production was a consequence of exports decreasing as a result of quota regimes in external markets...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2020.In briefEarnings were down because "the negative effect of Covid-19 damped the positive volume trend [seen by Ezz Steel] at the beginning of the first quarter of 2020... Export quantities suffered the most," according to Paul Chekaiban, chairman and managing director...Read More
Prices for domestic cold-rolled in Europe were largely unchanged in the week to Wednesday August 12 due to the seasonal summer slowdown, although sources believe some mills will push offers up, Fastmarkets heard.Fastmarkets' weekly price assessmentfor steel cold-rolled coil, domestic, exw Northern Europe was ?,?500-510 ($588-600) per tonne on August 12, compared with ?,?490-510 per tonne a week ea...Read More
The price of steel H-beams in Europe was unchanged this week amid quiet summer market activity, but market participants said they expect increases in the coming weeks because of rising raw material costs and improving demand, sources told Fastmarkets on Wednesday August 12. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?530-560 ($623-658) per...Read More
The Iranian export billet and slab market was under pressure from lower export demand, particularly in Asia, as well as domestic demand in the week ended Wednesday August 12, sources said.Demand in the Asian region, which has been largely limited to China in recent months, decreased also due to the weakening futures market.The most-traded October rebar futures contract closed at 3,805 yuan per ton...Read More