China's rebar prices were mixed on Monday December 23, with market participants divided in their outlook for the market in January.Eastern China (Shanghai): 3,800-3,830 yuan ($542-546) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,520-3,560 yuan per tonne, up 20 yuan per tonneSome participants think inventory in the spot market in January will stay low, which will sup...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products.Latest transaction: rebarRebar East China, domestic, grade...Read More
The ferrous scrap market in the United States might be calmer in 2020, with metals recyclers potentially facing less volatility and price declines than in 2019, which could present a unique set of opportunities for buyers and sellers.Market participants do not expect the steep decline in prices that characterized the market in 2019 to reoccur due to the extent of that drop. Fastmarkets' asses...Read More
Turkish domestic auto bundle scrap prices continued to push up this week in line with rising imported scrap values, sources said on Monday December 23.Two steel mills raised their buy prices for auto bundle scrap by 60 Turkish lira ($10) per tonne in response to the rising imported scrap costs.Fastmarkets' daily index for steel scrap, HMS...Read More
Turkish steel mills booked one more deep-sea cargo for February shipment, with prices inching up further, market sources said on Monday December 23.A steel mill in the Iskenderun region booked a 25,000-tonne Baltic Sea cargo, comprising HMS 1&2 (80:20) at $303 per tonne, shredded at $308 per tonne and bonus at $313 per tonne cfr. The cargo breakdown was not clear at the time of...Read More
Prices for steel billet increased in many buying regions and remained steady in most other regions due to continued strength in ferrous scrap prices, although billet buying activity started to diminish last week ahead of year-end holidays and few trades were made.Global scrap prices continued to climb despite limited volumes being traded. Fastmarkets' daily index for steel scrap HMS 1&2...Read More
Billet exporters in the Commonwealth of Independent States saw a splash of demand from Saudi Arabia this week, with several cargoes heard booked, while most other markets remained quiet, market participants said.Two cargoes of billet with increased manganese content, each around 50,000 tonnes and scheduled for shipment in February, were sold to Saudi Arabia at the end of last week within the range...Read More
Improving sentiment in the European domestic and import flat steel market in recent weeks spurred Italian customers to accept higher prices for CIS slabs, supporting Fastmarkets' assessment range in the week to Monday December 23. The price of imported hot-rolled coils prices in Southern Europe has gained $20-30 per tonne since the beginning of December, while the domestic price has increased by $...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
Overcapacity in the global steel sector has been an issue for many years, but has intensified in the recent years, according to Ankur Dana, chief executive officer of Dubai-based multinational Dana Group .Global overcapacity causes steel prices to fall, so governments should only approve new capacities if there is need, Dana said at Fastmarkets' Middle East Iron and Steel Conference in Dubai on De...Read More
One of the main challenges facing the Middle East steel sector is a lack of protection in an industry where protectionism is increasing, according to Abu Bucker Husain, chief executive officer of United Arab Emirates-based galvanized coil producer Al Ghurair Iron and Steel.North America, South America, Europe and Asia have taken protectionist measures to curtail imports, and this opens up the Midd...Read More
Prices for steel billet increased in many buying regions and remained steady in most other regions due to continued strength in ferrous scrap prices, although billet buying activity started to diminish last week ahead of year-end holidays and few trades were made.Global scrap prices continued to climb despite limited volumes being traded. Fastmarkets' daily index for steel scrap HMS 1&2...Read More
The European Commission (EC) is planning to again review its safeguard measures for hot-dipped galvanized (HDG) flat steel destined for the automotive sector, market sources told Fastmarkets this week.In the definitive measures for metallic-coated sheets (product category 4), the EC split the product category into two sub-categories, 4A and 4B, with the automotive sector mainly consuming...Read More
The China Solid Waste and Chemicals Management Bureau will allow up to 275,465 tonnes of aluminium scrap shipments into the country in the first batch of import quotas for 2020. The volume is significantly higher than for December, which was set at 9,844 tonnes of aluminium scrap - down from 13,770 tonnes in the previous quota. This, in turn, was less than the 44,935 tonnes issued in October....Read More
The export market for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States was strong ahead of the holiday period, sources told Fastmarkets on Monday December 23.Fastmarkets' weekly price assessment for steel HRC, export, fob Black Sea was $460-475 per tonne on Monday, widening upward from $460-470 per tonne a week earlier.Offers for Russia-origin HRC were heard at...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 23 that are worth another look....Read More
The fate of indium stocks once held by the failed Fanya Metal Exchange and due to be auctioned this week will remain a major concern for indium market participants going into 2020.An upcoming auction on Sunday December 29 for Fanya's 3,609.5 tonnes of indium is likely to be the last held for the now defunct exchange's hefty minor metals inventories, but the uncertainty clouding the indium market w...Read More
Zinc was the worst performer at the London Metal Exchange 5pm close on Monday December 23, while the other base metals consolidated in quiet market conditions. The three-month zinc price closed 2% lower at $2,291 per tonne, due to weak fundamentals triggering a sell-off. The metal has been retreating after it failed to stabilize above $2,300 per tonne last week. "The stronger than expected sell-o...Read More
Seaborne coking coal prices stayed largely rangebound on Monday December 23, while market expectations for PCI prices were softer.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.97 per tonne, down $0.81 per tonnePremium hard coking coal, cfr Jingtang: $147.47 per tonne, unchangedHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $134.99 per tonne, u...Read More
China's domestic hot-rolled coil prices gained on Monday December 23 as supply remained short in the east of the country, but a mill based in northern China exported material at a low level despite high offers, market participants said.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($556-558) per tonne, up 30 yuan per tonneNorthern China (Tangshan): 3,640-3,650 yuan per tonne, widening upward...Read More