China's domestic rebar market was mixed on Friday January 3, with prices in the eastern region falling on supply pressure while those in the northern gained some strength in the absence of that factor.Eastern China (Shanghai): 3,690-3,720 yuan ($530-534) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,550-3,580 yuan per tonne, up 20-30 yuan per tonneSustained deliveries to the spot...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
The inter-merchant spot price for light iron scrap in the United Kingdom was unchanged on Friday January 3 because many traders have not yet returned to work after the year-end holiday period, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?90-105 ($119-138) per tonne on Friday, unchanged since mid-Dece...Read More
The price of ferrous scrap imported into India rose this week in response to positive sentiment on the return of traders to the market after the Christmas and New Year holidays, sources told Fastmarkets.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $312.17 per tonne on Friday January 3, up from $307.54 per tonne on Friday December 27. Deals were heard for shredded scrap at...Read More
The Turkish steel producers have now seen a second week with no deep-sea scrap import bookings because of the year-end holiday periods, which traditionally slow down market activity, sources said on Friday January 3.The Turkish mills have been quiet since December 20, when a Baltic Sea cargo was booked at $303 per tonne cfr.Sentiment turned negative late in the week because of the downturn in the...Read More
US imports of steel products might have surged in December 2019, according to an advance indicator of offshore arrivals.But attempts to draw firm conclusions from import license figures - which have differed from final Census volumes in recent months - might be premature, government data, comments from an International Trade Administration (ITA) spokesperson and calculations by Fastmarke...Read More
China's domestic rebar market was mixed on Friday January 3, with prices in the eastern region falling on supply pressure while those in the northern gained some strength in the absence of that factor.Eastern China (Shanghai): 3,690-3,720 yuan ($530-534) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,550-3,580 yuan per tonne, up 20-30 yuan per tonneSustained deliveries to the spot...Read More
Flooding in the Indonesian capital of Jakarta that has killed at least 43 people and displaced approximately 400,000 others is also likely to cause transportation delays for steelmakers in the country, industry sources told Fastmarkets."Most of the streets used to access downtown Jakarta are flooded," a trader source in Indonesia said on Friday January 3. A source at an Indonesian long steel produ...Read More
The monthly European alloy steel surcharges have moved downward for January, driven by lower costs for nickel, Fastmarkets heard on Friday January 3.Fastmarkets' calculation of the stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was ?,?1,418-1,437 ($1,587-1,608) per tonne for January, down by ?,?161-171 per tonne...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 3. China Seaborne prices of both grades of manganese ore in China strengthened further after some sellers successfully increased their offer prices. Many Chinese buyers accepted higher offer prices out of fear of missing out on relatively limited availability of cargoes available...Read More
US imports of steel products might have surged in December 2019, according to an advance indicator of offshore arrivals.But attempts to draw firm conclusions from import license figures - which have differed from final Census volumes in recent months - might be premature, government data, comments from an International Trade Administration (ITA) spokesperson and calculations by Fastmarke...Read More
Fastmarkets takes a look at what to watch out for in the hot-rolled coil market in the United States in 2020 after another year of volatility and surprises in 2019.After a generally profitable 2018 for the US steel industry, 2019 proved more challenging, with major domestic steel producers posting significant year-on-year losses amid atypical buying and holding patterns."I think 2019 is a hangover...Read More
Tan Viet Quang Co Ltd began construction of a stainless steel plant in central Vietnam's Quang Tri province in late December. The company will invest 1.6 trillion Dong ($69 million) in the project, which will be able...Read More
US imports of steel products might have surged in December 2019, according to an advance indicator of offshore arrivals.But attempts to draw firm conclusions from import license figures - which have differed from final Census volumes in recent months - might be premature, government data, comments from an International Trade Administration (ITA) spokesperson and calculations by Fastmarke...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
The monthly European alloy steel surcharges have moved downward for January, driven by lower costs for nickel, Fastmarkets heard on Friday January 3.Fastmarkets' calculation of the stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was ?,?1,418-1,437 ($1,587-1,608) per tonne for January, down by ?,?161-171 per tonne...Read More
An already-volatile nickel market will continue to face uncertainty in 2020 while demand wanes and stocks rise amid slowed growth expectations from both the stainless steel and electric battery sectors, market participants predicted.It is widely acknowledged that nickel demand will be driven by the stainless steel and electric vehicle (EV) battery markets, but many analysts expect stainless steel...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
Seaborne coking coal prices were resilient on Friday January 3, with the cfr China premium hard coking coal index passing $150 per tonne and a premium mid-vol cargo changing hands at just under $140 per tonne fob Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $140.06 per tonne, down $0.63 per tonnePremium hard coking coal, cfr Jingtang: $151.85 per tonne, up $3.08 per t...Read More