Metinvest sees stable growth in global steel consumption and potential consolidation in the steel industry driving the profit pool from 2020, with a shift in distribution away from iron ore miners and towards steelmakers, according to sales director Dmitry Nikolayenko."This year has been very interesting from the point of view of profit pool distribution. There was a combination of factors that pu...Read More
Metinvest sees stable growth in global steel consumption and potential consolidation in the steel industry driving the profit pool from 2020, with a shift in distribution away from iron ore miners and towards steelmakers, according to sales director Dmitry Nikolayenko."This year has been very interesting from the point of view of profit pool distribution. There was a combination of factors that pu...Read More
The Polish domestic rebar price started to move up in the week to Friday December 13 due to anticipated scrap price increase in the country, sources told Fastmarkets. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $292.09 per tonne on December 12, up by 15.33% since the middle of the month when steelmakers last...Read More
China's rebar prices moved down in both the domestic and export markets on Friday December 13 amid inactivity. Eastern China (Shanghai): 3,870-3,900 yuan ($555-559) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,570-3,590 yuan per tonne, down 10 yuan per tonneStockists with a lot of inventory lowered their offers to stimulate sales in anticipation of prices falling even further.But b...Read More
Global ferrous scrap prices continued on an upward trend in the week ended Friday December 13 due to supply shortages and stable demand from end users.Turkish steelmakers book 10 cargoes Sentiment in US bullish Large bid-offer gap in Vietnam Taiwan continues to accept price increases Thin demand in India due to cheaper domestic scrap TurkeyTurkish steel mills booked a total of 10 cargoes this...Read More
The inter-merchant spot price for light iron scrap in the United Kingdom moved higher in the week ended Friday December 13, adding to gains made the week before, against increased European export prices to traditional markets.The market has been climbing in the quarter, with exporters looking to supply renewed demand from traditional buyers of European steel scrap in Turkey and the Indian subconti...Read More
Turkish steel producers have continued to make deep-sea scrap purchases on Friday December 13, with prices climbing higher, sources said.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $299.50 per tonne, 3,500 tonnes of bonus at $309.50 per tonne and 2,500 tonnes of busheling at $314.50 per tonne cfr.A steel mill in the Marmara region book...Read More
Prices in the CIS export billet market moved up during the week to Friday December 13, as mills achieved higher prices for deals, supported by the uptrend in global semi-finished steel markets and the ongoing increase in scrap prices.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $411 per tonne on Friday December 13, up by $9 per tonne over the week.Several cargoes of Russi...Read More
Metinvest sees stable growth in global steel consumption and potential consolidation in the steel industry driving the profit pool from 2020, with a shift in distribution away from iron ore miners and towards steelmakers, according to sales director Dmitry Nikolayenko."This year has been very interesting from the point of view of profit pool distribution. There was a combination of factors that pu...Read More
Prices in Southeast Asia's steel billet market jumped on Friday December 13 amid the continued presence of Chinese importers in the spot market and an upswing in scrap prices in the bellwether Turkish market. At least 35,000 tonnes of Malaysian and Vietnamese billet have been sold to China at $433-435 per tonne cfr since last week. Billet from Southeast Asia is preferred among Chinese importers du...Read More
The price of stainless steel flat products in Europe was unchanged this week but lower prices are expected in light of poor demand and high stock levels, sources told Fastmarkets on Friday December 13. Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,372-2,394) per tonne...Read More
Turkey is calling for a level playing field when it comes to trading with the European Union and the United States, Turkish steelmakers said during a panel discussion at Fastmarkets' Middle East Iron and Steel conference in Dubai.Speaking on Tuesday December 10 in a panel discussion about the protectionism Turkish steel faces in its major steel export markets, panelists said they were on...Read More
Major Chinese steelmakers' daily crude steel output dropped in late November, according to data released by the China Iron & Steel Association (Cisa) on Tuesday December 10.Daily crude steel output November 21-30:...Read More
China's finished steel exports decreased on a year-on-year basis in November, according preliminary Chinese customs data released on Sunday December 8.November exports: 4.56 million tonnes...Read More
Aluminium foundry alloy premiums continued to falter, with the US premium hitting a record low, due to bearish macroeconomics and weak fundamentals.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest US at 7-10 cents per lb on Friday December 13, down from 8-11 cents per lb in the previous monthly assessment.The previous all-time low was 8-10...Read More
Global ferrous scrap prices continued on an upward trend in the week ended Friday December 13 due to supply shortages and stable demand from end users.Turkish steelmakers book 10 cargoes Sentiment in US bullish Large bid-offer gap in Vietnam Taiwan continues to accept price increases Thin demand in India due to cheaper domestic scrap TurkeyTurkish steel mills booked a total of 10 cargoes this...Read More
Cobalt buyers returned to the market this week but prices fell further towards $15 per lb while sellers sought to offload stock ahead of the end of the year. Spot trade has been thin for the past few weeks so sellers offered aggressively, accepted cheaper bids and found competition for larger-tonnage business in their attempts to lock in sales before the start of 2020. The price of cobalt, standar...Read More
The domestic price of hot-rolled coil in Northern Europe was unchanged on Friday December 13 although mills continue to insist on further price increases, market sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was calculated at ?,?432.08 ($481.10) per tonne on Friday, unchanged from Thursday.The assessment is based on "workable" prices hea...Read More
A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
If you are a producer or consumer, or are active in the physical markets, then you had better be aware of a new set of regulations that will make it all the more important for you to choose the right logistics partner from next year.The International Maritime Organization (IMO) has ruled that from January 1, 2020, the marine sector will have to reduce sulfur emissions by more than 80% by switching...Read More