Domestic prices for steel reinforcing bar in the United Arab Emirates increased over the past week due to strong demand, market sources said on Tuesday November 26.Further increases are expected due to global gains in production costs, market participants in the UAE said, adding that low stock levels in the country will spur more buying.Billet importsBillet was booked from Oman at about....Read More
Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to poor demand despite rebounding prices for downstream flat steel products."Demand remains lackluster because the price spread between slab and hot-rolled coil is not wide enough for re-rollers to accept," a trader in Taiwan said.Restocking activity in Southeast Asia's main HRC import market in...Read More
Eastern China' rebar prices dropped slightly on Tuesday November 26, with participants telling Fastmarkets they expected prices to start trending downward on weakening winter demand.Eastern China (Shanghai): 4,080-4,110 yuan ($580-585) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, unchangedRebar futures decreased sharply over the day, pushing down east...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
India's Supreme Court has approved ArcelorMittal's acquisition of Essar Steel, ending years of legal wrangles. "ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (ESIL) has been unconditionally approved by the Indian Supreme Court and is the final procedural step in ESIL's corporate insolvency process," the company said on November 18.Completion of the tra...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
Domestic prices for steel reinforcing bar in the United Arab Emirates increased over the past week due to strong demand, market sources said on Tuesday November 26.Further increases are expected due to global gains in production costs, market participants in the UAE said, adding that low stock levels in the country will spur more buying.Billet importsBillet was booked from Oman at about....Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More
Domestic prices for hot-rolled coil have been recovering more slowly in Northern Europe than in the south of the region, sources told Fastmarkets on Tuesday November 26.Although some mills in the north of Europe have been offering material at relatively low prices of about ?,?415-425 per tonne ex-works, market sources believe that such prices will soon no longer be available.This is largely in lin...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More
The three-month copper price on the London Metal Exchange moved higher at the close of trading on Tuesday November 26, breaching nearby resistance against modest turnover, while zinc futures failed to test the $2,300-per-tonne resistance level despite a 1.2% afternoon surge.Copper's underlying price closed at $5,924 per tonne in the afternoon, climbing by slightly more than 1% and i...Read More
Seaborne coking coal prices continue to trade in a range-bound manner, with participants keeping a close eye on the impact of the recent supply disruptions on market direction but not seeing them as major price drivers yet.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.70 per tonne, down $1.96 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, unchangedHard...Read More
The three-month copper price on the London Metal Exchange moved higher at the close of trading on Tuesday November 26, breaching nearby resistance against modest turnover, while zinc futures failed to test the $2,300-per-tonne resistance level despite a 1.2% afternoon surge.Copper's underlying price closed at $5,924 per tonne in the afternoon, climbing by slightly more than 1% and i...Read More
European ferro-vanadium prices continued to edge higher on improved sentiment last week, while activity in the Chinese market quietened down. Meanwhile, increased spot liquidity in the vanadium pentoxide market in Europe drove prices down.The prevailing uptrend in China's export price for ferro-vanadium was no longer apparent in the week to Thursday November 21, closely following the sta...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Tuesday November 26, with lead topping losses and closing in on nearby support levels. Lead's outright price was recently seen at $1,950 per tonne this morning, with just over 1,100 lots exchanged as of 9:05am London time. The metal's underlying price climbed higher during October, reaching a high of $2,262...Read More
While Wall Street climbs to record highs on optimism for a United States-China trade deal and on merger and acquisition developments, the metals at best tread water, while some head lower.Asian equities mainly stronger led by a 0.83% rise in the Australian ASX 200 index.Gold and yen trending lower, but US government bond yields are weaker - so a mixed picture for the havens. Base metalsThree-month...Read More
The word "weak" was one commonly used by attendees of last week's Cesco Asia Copper Week in Shanghai when describing their expectations for demand growth in China's downstream copper markets next year. "The automobile market is weakening - not only in China, but globally, the home appliance market is slowing and the refrigerator sector is also poor due to high inventories," one attendee from the C...Read More