The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday March 6, marking four weeks of stability but ahead of an uncertain outcome in negotiations for monthly deliveries to British steelmakers from domestic suppliers this month, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter...Read More
The price of austenitic grades of alloy steel scrap in the UK domestic and European import markets moved up this week on higher nickel costs, sources told Fastmarkets on Friday March 6. Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?750-800 (968-1,033) per tonne on Friday, up by ?10-20 per tonne week on week. Fastmarkets' price as...Read More
Nickel demand from China is likely to decline more than anticipated because of the novel coronavirus (2019-nCoV) outbreak, Nornickel said during its earnings call.But the Russian multi-metal miner - the world's leading nickel producer - said it was too early to quantify the risk posed to business by the virus.Publishing its 2019 financial results report on February 26, Nornickel sai...Read More
Without fresh major stimulus announcements, markets have turned risk-off again this morning, Friday March 6. Market participants had been expecting the People's Bank of China to announce some further stimulus after the United States Federal Reserve's emergency 50-basis-point rate cut on Tuesday, but nothing has been forthcoming. The spread and impact of the novel coronavirus (2019-nCoV) across Ita...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The battery-grade lithium carbonate price in China broke its steady streak in the week to Thursday March 5 after producers cut offers to meet cash flow needs, while European and US battery-grade prices fell by over 4% week on week.China's battery-grade lithium carbonate price fell by 2.1% after some deals were reported at lower levels this week. European and US battery-grade prices dropped to thei...Read More
Most flat steel import prices in South America have remained unchanged in the week ended Friday March 6, in a market lull before the start of negotiations for May shipments, although sellers were indicating that more expensive offers would be presented in the weeks ahead.Market participants were expecting Chinese steel demand to recover from the recent tumble cause by the outbreak of 2019-nCoV cor...Read More
Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day despite bullish sentiment among the region's steelmakers, sources told Fastmarkets on Friday March 6.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was calculated at ?,?484.64 ($541.53) per tonne on Friday March 6, up by ?,?0.12 per tonne from ?,?484.52 per tonne on March...Read More
A major Japanese steelmaker is seeing limited downside for hot-rolled coil prices in Asia as a result of bearish sentiment attributed to the novel coronavirus (2019-nCoV) outbreak.It plans to offer April-shipment cargoes to buyers in Malaysia and Indonesia at $520-530 per tonne cfr. It had offered March-shipment HRC at $510 per tonne cfr Vietnam but did not sell any cargoes there."Due to the stabl...Read More
Indian domestic secondary billet prices went down by 800 rupees ($11) per tonne in the week ended Friday March 6, with long-steel product makers slowing their purchases of semi-finished materials in expectation of further price falls.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets on March 6 at 28,400-28,600 rupees ($385-388) per tonne, compared with last week's as...Read More
The price of steel rebar in the Polish domestic market dropped this week on limited demand, with buyers hoping for further decreases amid a slowdown in construction and oversupply in the market, sources said. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, was 1,900-1,930 zloty ($493-501) per tonne on Friday March 6, down by 150-220 zloty per tonn...Read More
Eastern China's rebar prices edged downward on Friday March 6 following losses in the futures market, but spot market participants were not overly pessimistic. Eastern China (Shanghai): 3,410-3,440 yuan ($491-495) per tonne, down 10-20 yuan per tonne Northern China (Beijing): 3,270-3,320 yuan per tonne, down 10 yuan per tonneA local industry information provider said late on Thursday that steel in...Read More
The pig iron market in the United States has gone up further than was expected in the past seven days, driven by a booking from Russia, sources told Fastmarkets during the week ended Friday March 6.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $360-363 per tonne on Friday, up from $347-350 per tonne the week before.A booking of Russia-origin pig iron was done in t...Read More
The price of ferrous scrap imported into India trended downward this week, with a combination of factors dampening sentiment, sources told Fastmarkets on Friday March 6.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $302.54 per tonne on Friday, down from $305.66 per tonne one week ago.Deals for shredded were heard at $302 and $305 per tonne from UK and...Read More
The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday March 6, marking four weeks of stability but ahead of an uncertain outcome in negotiations for monthly deliveries to British steelmakers from domestic suppliers this month, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter...Read More
Brazilian slab export prices narrowed upward in the week to Friday March 6 while negotiations for May-shipment volumes start at higher levels, Fastmarkets understands.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil rose to $470-475 per tonne on March 6, up from $460-475 per tonne the previous week.Companies are starting negotiations for May-shipment offers and offe...Read More
Indian domestic secondary billet prices went down by 800 rupees ($11) per tonne in the week ended Friday March 6, with long-steel product makers slowing their purchases of semi-finished materials in expectation of further price falls.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets on March 6 at 28,400-28,600 rupees ($385-388) per tonne, compared with last week's as...Read More
Eastern China's rebar prices edged downward on Friday March 6 following losses in the futures market, but spot market participants were not overly pessimistic. Eastern China (Shanghai): 3,410-3,440 yuan ($491-495) per tonne, down 10-20 yuan per tonne Northern China (Beijing): 3,270-3,320 yuan per tonne, down 10 yuan per tonneA local industry information provider said late on Thursday that steel in...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday March 6.China Chinese domestic spot ferro-silicon price tumbled because both previously existing logistical constraints and supply tightness have eased. Chinese export prices slipped in response to the weaker domestic market. Export demand threat loomed because...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday March 6. China The UG2 chrome ore price hit its lowest level since April 2016 in its third consecutive week of decline. Spot Chinese ferro-chrome prices steady due to the market awaiting March tender prices from...Read More