Eastern China rebar prices lost upward momentum on Friday October 15 due to sellers' need to reduce inventories.DomesticEastern China (Shanghai): 5,770-5,800 yuan ($896-901) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,600-5,650 yuan per tonne, down by 200 yuan per tonneSellers expect prices will have little chance to rise in the remaining days of October, so...Read More
Spot prices for imported ferrous scrap in key market Vietnam increased week on week, although higher offers from sellers have seen buying interest subside from last week.Offers for bulk heavy melting scrap (HMS) 1&2 (80:20) were at $550 per tonne cfr Vietnam, with bids at $535-540 per tonne cfr Vietnam.There remained interest for bulk deep-sea HMS 1&2 (80:20) cargoes from the United States' West C...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 15.Jessica Long, Zihao Li and Ruby...Read More
The entirety of copper's London Metal Exchange forward curve ended the day in a backwardated state on October 15, with fears of supply tightness taking over metals across the board. Zinc reached its highest prices in over a decade while tin climbed to new all-time highs. Copper's benchmark cash/three-month spread on LMESelect - the Exchange's electronic platform - touched a $350-per-tonne b...Read More
Most prices for flat-rolled steel products imported into South America were down during the week ended Friday October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in the region.While some offers from China emerged at higher levels, following a week-long holiday in the Asian country, reduced export availability to S...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
Key data from Fastmarkets' pricing sessions in Europe, China and the United States on Friday October 15.China?EUR?The ferro silicon price in China narrowed downward following a correction of a previous rally. But market sentiment remained quite positive since Qinghai issued an orderly electricity usage plan. This said that electricity usage can be divided into four levels, each corresponding to a...Read More
Japanese steelmaker Nippon Steel is suing compatriot automaker Toyota and Chinese mill Baosteel on claims that the two had infringed on its patent for non-oriented electrical steel sheet. In its suit filed at the Tokyo district court on Thursday October 14, Nippon Steel is also seeking an injunction to prohibit Toyota from manufacturing and selling motor-driven vehicles equipped with motors using...Read More
Prices in the United States' pig iron import market went up during the week to Friday October 15 amid an improved global market mood, sources told Fastmarkets. Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $545-550 per tonne on Friday, up from $540 per tonne a week earlier.Offers of Russia-origin...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
Record-high coking coal prices have been pressuring steelmakers in the Commonwealth of Independent States (CIS), mainly in Ukraine, because of a dependence on imports, sources told Fastmarkets.Global coking coal prices have been trending upward since October 2020, when the Chinese government imposed a ban on Australian materials.Fastmarkets' index for premium hard coking coal, cfr Jingtang -...Read More
Turkish steel mills booked at another five cargoes on Friday to bring the total for the week to 10, market participants told Fastmarkets on October 15.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 21,000 tonnes of HMS 1&2 (80:20) at $487 per tonne and 4,000 tonnes of shredded at $507 per tonne cfr. The cargo was scheduled to be shipped on December 15.A steel mill in the...Read More
LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.LME metals up by an average of 6.6% this week, with zinc up by 14%Brent crude oil approaching $85 per barrelEU pass...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 15.Susan Zou, Yingchi Yang and...Read More
Coated steel coil prices increased sharply in Turkey during the week ended Friday October 15 and some producers stopped accepting new orders, sources told Fastmarkets.Producers stopped accepting orders because prices for hot-rolled coil, the base material for coated coils, continued to increase and producers wanted to reflect cost increases in their end-product prices.Fastmarkets' weekly price ass...Read More
LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.LME metals up by an average of 6.6% this week, with zinc up by 14%Brent crude oil approaching $85 per barrelEU pass...Read More
Hot-rolled coil prices in the United States dropped below $96 per hundredweight ($1,920 per short ton) for the first time since August, with rising inventories putting downward pressure on prices, according to market sources.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.47 per cwt ($1,909.40 per ton) on Friday October 15, down by 0.85% from $96.29 per cwt on Thu...Read More
An oversupply of emissions trading credits in China by more than 1.5 billion tonnes of carbon dioxide will likely cap carbon prices in the country, TransitionZero carbon analyst Matt Gray told Fastmarkets in an interview.China kicked off an emissions trading scheme (ETS) on July 16, with the first phase of its carbon experiment centered on thermal coal-fired power plants. Other heavy industries su...Read More
Prices for cold-rolled and galvanized steel sheet in the United States mostly held steady after market participants said 2020-21's unprecedented availability crisis is over and inventories are sufficient enough to cease the panic buying. "Mills' spot numbers are still stagnant," one southern distributor said. Fastmarkets' weekly assessment for steel cold-rolled coil, fob mill US was unchanged at $...Read More
The export pig iron market from the Commonwealth of Independent States improved in the week to Thursday October 14, with new sales to Italy and a bullish mood among suppliers.Fastmarkets' price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $500-520 per tonne on Thursday, up by $10 from $490-510 per tonne the previous week.Several sales of Ukraine-origin pig iron...Read More