Turkish domestic scrap prices have rebounded over the past week following an upturn in imported scrap values, sources said on Monday February 17.In the middle of last week, imported scrap prices increased sharply in response to improved demand from Turkish steel producers.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $274.82 per tonne on February 14, up...Read More
Fastmarkets proposes to launch four new ferrous scrap import prices, further bolstering our coverage of Asian scrap markets.The new prices include two prices on a cfr South Korea basis and two on a cfr Bangladesh basis.South Korea is one of Asia's largest ferrous scrap importers, buying large volumes of scrap from origins such as Japan and the US West Coast. Bangladesh, a rapidly growing scrap imp...Read More
Chris Griffith, chief executive officer and executive director of Anglo American Platinum, will step down from his position, the company said on Monday February 17.Griffith's last day at Anglo American Platinum will be April 16, 2020 after leading the company for more than seven years, the company said. His successor is expected to be a candidate from within...Read More
China's race to contain the coronavirus (2019-nCov), combined with its financial stimulus, are providing the markets with more than enough hope, with risk-on being seen across most of the metals and many equity indices, especially in western markets, this morning, Monday February 17. But this apparent confidence is likely to be fragile as there is still much uncertainty surrounding the virus and i...Read More
Here are five Fastmarkets stories you might have missed on Monday February 17 that are worth another look.Seaborne iron ore prices were up on Monday amid the gradual return of workers after the extended lunar new year holiday in China.The European Commission has initiated a review of existing safeguard measures into a number of imported steel products, it said on Saturday February 15.The market of...Read More
Domestic prices for hot-rolled coil have increased slightly day on day in the north of Europe, sources told Fastmarkets on Monday February 17.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?480.00 ($519.84) per tonne on Monday, up by ?,?0.66 per tonne from ?,?479.34 per tonne on February 14.https://www.metalbulletin.com/My-price-book.html?price=42176The i...Read More
Domestic prices for hot-rolled coil in Northern Europe rose in the week to Friday February 14 despite offers from non-European suppliers returning to the market. Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?479.34 ($519.12) per tonne on Friday, up by ?,?7.67 per tonne from ?,?471.67 per tonne a week earlier on February 7. The index was calculated based...Read More
The European Commission (EC) has initiated a review of existing safeguard measures into number of imported steel products, it said on Saturday February 15. "On the basis of [the European] Union interest considerations, [the EC] may have to review certain elements of the safeguard measures in order to take account of recent developments or changed circumstances. Furthermore, such a review should be...Read More
CIS rebar and wire rod producers turned bullish in the second half of February, because of a surge in scrap prices in Turkey in recent weeks.Indications of rebar offers from both Russia and Ukraine were reported at $440 per tonne fob Black Sea on Monday February 17, whereas in the first week of February a major Ukrainian producer was ready to sell rebar at $420 per tonne fob Black Sea.Last week, s...Read More
A summary of state-owned Steel Authority of India's (Sail) financial results for its third quarter covering the period of October to December, and the first nine months of its financial year 2019-20.In brief Sail reports higher sales and saleable steel production in the third quarter, but lower prices hurt earnings The company said the reduction in prices has hurt the financial performance of all...Read More
Demand for rebar in China's domestic market remained weak on Monday due to a lack of manpower in downstream sectors, which continued to put pressure on prices for the long steel product.Eastern China (Shanghai): 3,370-3,400 yuan ($482-487) per tonne, unchanged Northern China (Beijing): 3,370-3,400 yuan per tonne, down 50 yuan per tonneSellers in eastern China kept their offers flat amid weak deman...Read More
Here are five Fastmarkets stories you might have missed on Monday February 17 that are worth another look.Seaborne iron ore prices were up on Monday amid the gradual return of workers after the extended lunar new year holiday in China.The European Commission has initiated a review of existing safeguard measures into a number of imported steel products, it said on Saturday February 15.The market of...Read More
Ferrous scrap prices in Turkey rebounded on an improvement in demand from the country's steel mills during the working week ended Friday February 14. The upturn in Turkish prices sparked a recovery in the Indian markets, while prices in the United States were set to follow.Turkish prices increase amid higher buying interestTurkish buying brings signs of recovery in US export marketLow prices for J...Read More
Turkish domestic scrap prices have rebounded over the past week following an upturn in imported scrap values, sources said on Monday February 17.In the middle of last week, imported scrap prices increased sharply in response to improved demand from Turkish steel producers.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $274.82 per tonne on February 14, up...Read More
Most of the global markets for steel billet showed low activity in the week ended Friday February 14, but offer prices from the main producing regions still increased, amid higher costs for scrap raw material and weak demand for semi-finished steel products.Prices from the Commonwealth of Independent States (CIS) and Turkey rose, but buying interest remained subdued, with customers preferring to t...Read More
Demand for rebar in China's domestic market remained weak on Monday due to a lack of manpower in downstream sectors, which continued to put pressure on prices for the long steel product.Eastern China (Shanghai): 3,370-3,400 yuan ($482-487) per tonne, unchanged Northern China (Beijing): 3,370-3,400 yuan per tonne, down 50 yuan per tonneSellers in eastern China kept their offers flat amid weak deman...Read More
Chinese traders have started offering Chinese billet for export to Southeast Asia - a trade flow not commonly seen since 2017 - in a telling sign of bearish sentiment in the domestic Chinese long steel markets. The billet cargoes are priced at $415-420 per tonne cfr to the Philippines and Indonesia, and at $410-415 per tonne cfr Thailand, falling below asking prices for material from other origins...Read More
China's output and sales of new energy vehicles (NEVs) fell by more than 50% year on year in January 2020.China produced 40,000 NEVs in January 2020 - down by 55.4% compared with January 2019, according to data released by the China Association of Automobile Manufacturers (CAAM). Sales of NEVs totaled 44,000 units in January, down by 54.4% year on year. CAAM said the decline was due to their being...Read More
General Motors (GM) does not anticipate its full-size truck production in the United States to experience any immediate effect from the novel coronavirus (2019-nCoV) outbreak in China, according to a company spokesman."The situation is still quite fluid, but GM, other automakers and suppliers have begun the process of restarting vehicle and parts production in China," David Barnas, a representativ...Read More
Here are five Fastmarkets stories you might have missed on Monday February 17 that are worth another look.Seaborne iron ore prices were up on Monday amid the gradual return of workers after the extended lunar new year holiday in China.The European Commission has initiated a review of existing safeguard measures into a number of imported steel products, it said on Saturday February 15.The market of...Read More