Polish domestic rebar prices moved up over the week due to improved demand, market sources told Fastmarkets on Friday, January 31.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, ex-works Poland, rose to 2,150-2,200 zloty ($553-563) per tonne on Friday January 31 from 2,050-2,200 zloty...Read More
Turkish export prices for hot-dipped galvanized coil (HDG) decreased in the week to Friday January 31, amid moderate demand, while domestic prices were stable, sources said.Demand was moderate on expectations that prices would fall due to the decline in scrap prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $264.42 per tonne on January 3...Read More
Some Turkish flat steel prices fell in the week to Friday January 31, in response to weakening scrap prices.Buyers expected prices to fall after Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, continued to slide, falling to $264.42 per tonne on January 30, down from $274.25 per tonne on January 24.HRC exportsFastmarkets' weekly pric...Read More
European steel association Eurofer forecasts a modest recovery in apparent steel consumption in 2020, with risks relating to import volumes, Eurofer said on January 30."2019 was another challenging year for the steel sector, with declines in steel consumption and import levels, which - while down compared to 2018 - were still very high compared to historical levels," director general of Eurofer, A...Read More
The price of ferrous scrap imported into India dropped again in the week ended Friday January 31, while trading activity paused following a mid-week drop in international scrap prices, sources have told Fastmarkets.Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $291.99 per tonne on Friday, down from $296.51 per tonne on January 24, marking the thi...Read More
Turkish deep-sea scrap import markets were quiet at the end of the week, with mills seeking lower prices, sources told Fastmarkets on Friday January 31.The daily scrap indices went down by almost $10 per tonne on Wednesday, when a US cargo was heard sold at $275 per tonne cfr for HMS 1&2 (90:10).This has been the only cargo sold so far this week, as mills push for even lower prices as they struggl...Read More
The price paid for pig iron exported from the Commonwealth of Independent States (CIS) declined during the week to Thursday January 30 due to pressure from falling steel scrap market prices."The falling market price of scrap [the relative pig iron substitute in steel making] is always a strong argument for buyers, who start to insist on lower pig iron prices once scrap goes down," one exporter sai...Read More
Seaborne iron ore prices were flat on Friday January 31 while the widespread coronavirus has cast a bearish outlook into the market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.94 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $83.98 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $86.55 per tonne, unchanged.58% Fe fines high-premium, cfr Qingdao: $71.60 pe...Read More
Seaborne coking coal prices ended the week flat on a muted market due to the absence of participants in China, though concerns over a possible tightening of Australian and Chinese supply have emerged.Fastmarkets' indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $162.73 per tonne, unchanged Hard coking coal, fob DBCT: $127.01 per tonne,...Read More
The three-month lead price on the London Metal Exchange was higher during morning trading on Friday January 31, climbing by more than 1% to show signs of improvement after slipping through key support levels over January, while zinc futures failed to push above nearby resistance. Lead's outright price on the LME was recently seen at $1,845 per tonne, up from Thursday's closing price of $1,825 per...Read More
An overview of the minor metals markets and their latest price moves.Read More
Monthly European alloy steel surcharges have increased slightly in January but there were already expectations in the market for decreases in March because of falling nickel costs, sources told Fastmarkets on Friday January 31.Fastmarkets' calculation on Friday of the stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was ?,?1,434-1,448 ($1,581-1,596) per tonne f...Read More
Imports of hot-rolled stainless steel sheet and coil from China, Taiwan and Indonesia now need to be registered on entering the European Union and could be subject to retroactive duties later in the year.The European Commission (EC) registration scheme came into force on January 24 and applies to "flat-rolled products of stainless steel, whether or not in coils (including products cut-to...Read More
Buyers in the Asian ferrous scrap market are putting off purchases of imports amid fears over the Wuhan coronavirus outbreak in China and news of transactions being concluded below prevailing levels involving cargoes sold to South Korea.VietnamFastmarkets' weekly price assessment for bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam was $278-285 per tonne cfr on Friday January 31, down $10-...Read More
The three-month zinc price on the London Metal Exchange closed at its lowest level in more than three years at the close of trading on Thursday January 30, settling below the nearby $2,200 per tonne support level, while the price of copper futures continued to decline over the afternoon.Zinc's outright price closed at its lowest level since July 2016 on Thursday afternoon, falling to a closing pri...Read More
The chief financial officer of copper producer Antofagasta, Alfredo Atucha, will retire on March 31, with Mauricio Ortiz appointed to replace him, the company said on Thursday January 30.Ortiz is currently the vice president of finance for the group's mining division and has been working for Antofagasta since 2015. Atucha first joined the miner in 2013."I want to thank Alfredo for his...Read More
The three-month nickel price on the London Metal Exchange was marginally higher during morning trading on Thursday January 30, supported by a fresh cancelation of 11,874 tonnes, while copper's downturn continued. Nickel's outright price on the LME was recently seen at $12,720 per tonne, with some 1,300 lots exchanged as of 9:20am London time. Nickel's price action has significantly weakened o...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 30 that are worth another look.The Wuhan coronavirus will likely influence fundamentals in China's steel market and Chinese export trends in the near future, sources told Fastmarkets this week.Zinc's weak fundamentals are finally catching up with prices, after being softened by a selloff sparked by concerns about the co...Read More
Zinc's weak fundamentals are finally catching up with prices, after being softened by a selloff sparked by concerns about the coronavirus outbreak in China.London Metal Exchange 3-month zinc futures fell on Thursday January 30 to their lowest level since July 2016, trading at $2,182 per tonne, down by 10.5% since the market opened on January 22. Cash zinc prices on the bourse were down by 11.4% ov...Read More
A mixture of fears over supply disruptions amid the Wuhan coronavirus outbreak and low stocks in Rotterdam are giving European traders enough leverage to increase their offers substantially, which has already an effect on prices.Fastmarkets' manganese 99.7% electrolytic manganese flake, in-whs Rotterdam price assessment rose to $1,725-1,800 per tonne on January 29, up by 3.7% from $1,680- 1,720 pe...Read More