Domestic prices for hot-rolled coil have been largely unchanged in Europe due to the limited trading activity resulting from the lockdown measures put in place to combat the Covid-19 virus, sources told Fastmarkets on Thursday March 26.Domestic prices for hot-rolled coil have been largely unchanged in Europe due to the limited trading activity resulting from the measures put in place to comba...Read More
China's domestic hot-rolled coil prices fell on Thursday March 26 amid weak demand, while export trading was also thin with sellers exercising caution after many overseas buyers canceled their orders.DomesticEastern China (Shanghai): 3,350-3,370 yuan ($472-475) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,280 yuan per tonne, narrowed downward by 20 yuan per tonneTrading activity w...Read More
ArcelorMittal Nippon Steel India (AMNS India) is the latest steelmaker in the country to confirm it is reducing production rates due to the Covid-19 coronavirus lockdown in the country."AMNS operations are running at very low capacity, with minimum staff inside its facilities," a company spokesperson told Fastmarkets on Thursday March 26 without revealing details on which units had been&...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
Prices for imported steel billet in Egypt decreased in the week ended Thursday March 26 with market activity being very weak because of the Covid-19 pandemic, sources told Fastmarkets.The spread of Covid-19 in the country has caused market activity to soften significantly, the sources added.Egyptian natural gas prices were decreased by $1 to $4.50 per MMBtu this week, after electricity prices were...Read More
Domestic rebar and wire rod prices in Turkey have gone down over the past week due to a complete absence of demand resulting from the Covid-19 pandemic, sources said on Thursday March 26.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 2,950-3,030 Turkish lira ($458-471) per tonne on Thursday, down from the 3,100-3,150 lira per tonne of last week.Wi...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was much reduced in the week to Thursday March 26, sources told Fastmarkets, despite a resumption of sales to China."Industrial activity has rebounded rapidly there and pig iron demand has been boosted," one exporter from the CIS said. "The price [in dollars] has reduced, but the devaluation of the Russian rouble has...Read More
The global spread of the Covid-19 virus continues to limit deep-sea scrap trading in Turkey, sources told Fastmarkets on Thursday March 26.The finished long steel and billet markets were also seriously down in Turkey because of the outbreak, they added."There has been no export business [for rebar] for the past three weeks - apart from ongoing trades. We are only producing...Read More
The London Metal Exchange has developed procedures to manage the temporary unavailability of one of its approved warehouses or delivery points that might stem from the Covid-19 outbreak.These measures, which are in line with the exchange's Warehouse Agreement, address potential issues around delivery obligations, warranting and rent payments, it said. "These procedures have been discussed wit...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
Prices for imported steel billet in Egypt decreased in the week ended Thursday March 26 with market activity being very weak because of the Covid-19 pandemic, sources told Fastmarkets.The spread of Covid-19 in the country has caused market activity to soften significantly, the sources added.Egyptian natural gas prices were decreased by $1 to $4.50 per MMBtu this week, after electricity prices were...Read More
The Turkish markets for steel billet have crashed over the past week, following the sharp decline in imported scrap prices amid the spread of the Covid-19 pandemic, sources said on Thursday March 26.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey, was $357-360 per tonne on Thursday, down from the $390-400 per tonne of last week.After the imported scrap prices cra...Read More
The ferro-tungsten market in Europe fell by 9.9% to a two-month low in the first half of this week, with the spread of the Covid-19 pandemic continuing to reduce demand for tungsten products.Fastmarkets' assessment of the price for ferro-tungsten, basis 75% W, in-whs dup Rotterdam, dropped to $31.50-32.50 per kg on Wednesday March 25, down from the previous week's assessment at $35-36 per kg. The...Read More
ArcelorMittal Nippon Steel India (AMNS India) is the latest steelmaker in the country to confirm it is reducing production rates due to the Covid-19 coronavirus lockdown in the country."AMNS operations are running at very low capacity, with minimum staff inside its facilities," a company spokesperson told Fastmarkets on Thursday March 26 without revealing details on which units had been&...Read More
Member mills of the China Iron & Steel Association (Cisa) increased their steel and hot-metal output rates from the preceding nine days in mid-March but mills' inventory of finished steel dropped sharply, according to data released late on Wednesday March 25.March 11-20 outputCrude steel: 1.84 million tonnes per day, up by 1.55%Finished steel: 1.76 million tpd, up by...Read More
Turkish carmakers Oyak Renault, Toyota Motor Manufacturing, Mercedes-Benz T? 1/4 rk and Ford Otosan have all announced production stops this month because of concerns about the spread of novel coronavirus (2019-nCoV)."We [will] gradually and temporarily suspend most of our operations as of March 26, 2020, in Oyak Renault automotive factories. [A] production resumption date will be shared again acc...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 26 that are worth another look.China's electric-arc furnace mills have gradually raised production rates in the past three weeks following stronger demand for steel products.A major aluminium producer has concluded multiple deals with Japanese consumers for April-June delivery to main Japanese ports (MJP) at a premium on a c...Read More
The Chinese domestic portside manganese ore market has fallen into stasis this week with many ore traders refraining from making offers following the news that all miners in South Africa were required to shut down operations from Thursday March 26.The shutdown order was part of the country's efforts to limit the spread of the Covid-19 pandemic in the region.South Africa will enter a 21-day nationw...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was much reduced in the week to Thursday March 26, sources told Fastmarkets, despite a resumption of sales to China."Industrial activity has rebounded rapidly there and pig iron demand has been boosted," one exporter from the CIS said. "The price [in dollars] has reduced, but the devaluation of the Russian rouble has...Read More
The ferro-tungsten market in Europe fell by 9.9% to a two-month low in the first half of this week, with the spread of the Covid-19 pandemic continuing to reduce demand for tungsten products.Fastmarkets' assessment of the price for ferro-tungsten, basis 75% W, in-whs dup Rotterdam, dropped to $31.50-32.50 per kg on Wednesday March 25, down from the previous week's assessment at $35-36 per kg. The...Read More