Domestic prices for heavy steel plate in Europe have been largely stable over the past week, but downward pressure has been mounting due to poor demand, sources told Fastmarkets on Wednesday April 29.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was unchanged at ?,?490-500 ($531-542) per tonne on April 29. The assessment was based on offers heard...Read More
United States-based car manufacturer Ford will restart production at various sites in Europe in a phased approach from May 4, the company said on Tuesday April 28.Vehicle and engine production will restart at continental European sites following the implementation of health and safety precautions agreed with trade unions, which will include personal body-temperature checks and the use of facemasks...Read More
Prices for hollow steel sections in Europe moved downward this week, with demand not yet showing any sign of rebounding, sources told Fastmarkets on Wednesday April 29.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?580-595 ($629-645) per tonne on Wednesday, down from ?,?585-600 per tonne one week before.Demand in Northern and Southern...Read More
The price for steel H-beams in Europe remained flat on Wednesday April 29, with demand remaining at low levels because of the lockdown measures related to the Covid-19 pandemic, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was unchanged at ?,?535-570 ($580-618) per tonne on Wednesday."Beams and sections have the lowest act...Read More
Fastmarkets will publish its Poland rebar price assessment a day early this week, on Thursday April 30, because of the Labor Day holiday on Friday May 1. In accordance with the Fastmarkets holiday pricing schedule, weekly and monthly EMEA, CIS and Turkey ferrous prices will not be published during UK public holidays and holidays that take place in the country where the price in question is based....Read More
Brazil-based miner Vale has confirmed the official schedule for a resumption of production at its Samarco iron ore pellet joint venture in December 2020, while its wholly owned Timbopeba mine was expected to reopen on May 4, chief financial officer Luciano Siani said in a conference call on Wednesday April 29.Despite the Covid-19 pandemic, work at the Samarco site was not significantly affected, h...Read More
Stainless steel scrap prices in the United States dropped this week due to weakening demand amid the Covid-19 pandemic and the beginning of the seasonal summer slowdown."We are starting to see a slowdown as we head into the summer months, so we have backed off pricing," one major processor said.Most market respondents agreed that demand has fallen off, causing a loosening of the tight supply chain...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on Wednesday April 29, holding out for lower prices, sources told Fastmarkets.After about 10 days of silence, on April 27 one Turkish steel mill booked a Baltic Sea cargo at $242 per tonne cfr for 26,000 tonnes of HMS 1&2 (80:20) and $252 per tonne cfr for 6,00 tonnes of bonus scrap, sending the daily scrap in...Read More
Export prices for Japan-origin plate and structural (P&S) grades of ferrous scrap rose by ?500 ($5) per tonne week on week on Wednesday April 29, with tighter supplies over recent weeks keeping the values up, sources have told Fastmarkets.Japanese scrap collection has decreased over recent months, and was now affecting both prime and obsolete grades of material.Plant closures among car manufactur...Read More
The seaborne iron ore market was mostly unchanged on Wednesday April 29, with Pilbara Blend fines closing around $80 per tonne, and with active Chinese portside trading before the country's Labor Day holiday on May 1.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.50 per tonne, up by $0.30 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.15 per tonne, up by $0.55 per tonne.58% Fe fi...Read More
Trading activity in the seaborne coking coal market was robust on Wednesday April 29, with materials spilling into China amid poor ex-China demand, sources said. Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.30 per tonne, down $8.23 per tonne Premium hard coking coal, cfr Jingtang: $118.50 per tonne, down $1.68 per tonneHard coking coal, fob DBCT: $95.01 per tonne, down $7 per tonneH...Read More
China's domestic hot-rolled coil prices were largely stable on Wednesday April 29 on futures gains, while trading houses have been importing from India amid lower offers.DomesticEastern China (Shanghai): 3,270-3,280 yuan ($462-463) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,240 yuan per tonne, unchangedPrices nationwide were largely stable on Wednesday, with selle...Read More
London Metal Exchange three-month prices traded sideways for the second consecutive day on Wednesday April 29, with LME futures finding their footing at relatively low levels amid month-end book squaring and Asian countries preparing to come out of the market for a series of public holidays starting tomorrow."This morning Asian equities markets are quiet and winding down before public holidays in...Read More
Metals prices generally seem to be consolidating this morning, Wednesday April 29, and for the most part look well placed to extend gains, but whether underlying confidence is strong enough in these uncertain times remains to be seen. Asian-Pacific and pre-market major western equity indices are all positive, as are oil prices that are up around 3%.Market participants likely to focus on US gross d...Read More
Base metals prices and global equity indices were holding up in high ground this morning, Thursday April 30, helped by the US Federal Open Market Committee’s message of continued support, an expansion in manufacturing activity at China’s larger factories, a stronger oil price and because state-sponsored inventory buying in China bodes well for the metals. * Asian-Pacific and pre-market m...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for March Personal Spending was a drop of 5.0% versus a gain of 0.2% in February. Actual was a drop of 7.5%. Consensus for March Personal Income was a drop of 1.5% versus a gain of 0.6%...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 28 that are worth another look.Swedish special steel producer Ovako has used hydrogen to heat steel before rolling for the first time, the company announced on April 28.Over the past month, Chinese importers have been keen to buy overseas copper scrap at more competitive prices, with scrap production shrunk by the effects of...Read More
Rwanda has allowed some mines and exporters in the country to resume operations starting from Tuesday April 28, sources told Fastmarkets. Five of the 19 export organizations in the country in eastern Central Africa will be allowed to ship out material from today and 20 mines - including those producing tantalum, tungsten and tin - will be allowed to slowly resume operations. Ta...Read More
Upside momentum in London Metal Exchange base metals prices was capped during the afternoon session on Tuesday April 28 while pervading uncertainty across the complex left three-month prices mixed at the close. Some analysts suggested participants were waiting on the sidelines in anticipation of macro developments from virus-hit global economies including the United States, before committing to fu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 28 that are worth another look.Swedish special steel producer Ovako has used hydrogen to heat steel before rolling for the first time, the company announced on April 28.Over the past month, Chinese importers have been keen to buy overseas copper scrap at more competitive prices, with scrap production shrunk by the effects of...Read More