Import prices for rebar sold into Singapore maintained their upward trend in over the past week amid China's strengthening market.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-435 per tonne on Monday November 18, up $5-10 per tonne from a week earlier.Qatari r...Read More
China's domestic rebar prices increased further on Monday November 18 amid low inventories, though participants were less optimistic about the market due to softening demand. Eastern China (Shanghai): 3,940-3,970 yuan ($562-566) per tonne, up 70-80 yuan per tonne Northern China (Beijing): 3,720-3,750 yuan per tonne, up 20-30 yuan per tonneLow stock levels in the spot market continued to provide up...Read More
Turkish scrap import prices have increased once again on news of a European cargo being sold at the beginning of the week, although mills were still worried about soft demand for finished long steel products, sources said on Monday November 18.A steel mill in the Iskenderun region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 7,500 tonnes of a mixture of HMS 1 and plate and...Read More
Domestic auto bundle scrap prices in Turkey have increased in line with rising imported scrap values, with local ship scrap prices expected to follow soon, sources said on Monday November 18.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 1,455-1,640 Turkish lira ($253-286) per tonne on Monday, up from 1,455-1,560 lira per tonne last week.Th...Read More
Seaborne iron ore prices were rangebound on Monday November 18, as market participants awaited the official announcement for the winter heating season restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $85.77 per tonne, up $0.73 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $85.80 per tonne, up $0.73 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.20 per tonne,...Read More
Prices in the CIS export slab market continued to rise in the week to Monday November 18 with new bookings in Turkey being made at higher levels.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $367-370 per tonne on November 18, up from $340-360 per tonne on Monday last week.Rising costs for raw materials, particularly scrap, and increased finished flat steel pr...Read More
China's domestic rebar prices increased further on Monday November 18 amid low inventories, though participants were less optimistic about the market due to softening demand. Eastern China (Shanghai): 3,940-3,970 yuan ($562-566) per tonne, up 70-80 yuan per tonne Northern China (Beijing): 3,720-3,750 yuan per tonne, up 20-30 yuan per tonneLow stock levels in the spot market continued to provide up...Read More
Billet producers in the Gulf Cooperation Council (GCC) countries have become more active in export markets this year amid a slowdown of construction activity in the region, Fastmarkets has learnt.Steel demand in the Middle East is expected to shrink by 4.6% in 2019, according to estimates from the World Steel Association (Worldsteel). And the lower demand at home this year has meant that GCC bille...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 15.ChinaThe domestic spot alloy price in China remained steady with producers continuing to report limited supply of 75% grade material but that demand also remains weak. The export alloy price was similarly unchanged after major Chinese suppliers refused...Read More
The three-month lead price on the London Metal Exchange was lower at the close of trading on Monday November 18, with the price settling below the $2,000 per tonne support level for the first time since September, while continued inflows pushed aluminium futures lower.Lead's outright price closed at $1,953.50 per tonne in the afternoon, its lowest close since August 2, while turnover was at its hi...Read More
Export prices for hot-rolled and cold-rolled coil from the Commonwealth of Independent States have increased in line with the global uptrend, sources told Fastmarkets on Monday November 18.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $390-405 per tonne on November 18, up from $375-385 per tonne fob a week ago.Several sales of Russia-origin material were made to Turk...Read More
Prices in the CIS export slab market continued to rise in the week to Monday November 18 with new bookings in Turkey being made at higher levels.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $367-370 per tonne on November 18, up from $340-360 per tonne on Monday last week.Rising costs for raw materials, particularly scrap, and increased finished flat steel pr...Read More
Turkish scrap import prices have increased once again on news of a European cargo being sold at the beginning of the week, although mills were still worried about soft demand for finished long steel products, sources said on Monday November 18.A steel mill in the Iskenderun region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 7,500 tonnes of a mixture of HMS 1 and plate and...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 18 that are worth another look.The outlook for the Asian hot-rolled coil market in the early part of 2020 is bullish, with prices for January-shipment materials already moving higher, an official at a leading Japanese steelmaker has told Fastmarkets.More than 200,000 tonnes of aluminium have been delivered into Lond...Read More
More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More
Industry figures at the International Ferro-alloys conference in Budapest this week will be discussing future developments in the manganese markets after a dramatic turn in the manganese flake price over the past year; Fastmarkets looks at the key reasons behind the slump. The manganese 99.7% electrolytic manganese flake, in-whs Rotterdam price fell to $1,610-1,670 per tonne on November 8, down by...Read More
The three-month lead price on the London Metal Exchange was lower at the close of trading on Monday November 18, with the price settling below the $2,000 per tonne support level for the first time since September, while continued inflows pushed aluminium futures lower.Lead's outright price closed at $1,953.50 per tonne in the afternoon, its lowest close since August 2, while turnover was at its hi...Read More
More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More
Fastmarkets will host a free web seminar on Monday November 25 at 9:30am London time, to introduce the new Fastmarkets-settled London Metal Exchange cash-settled main Japanese ports (MJP) aluminium premium contract.The webinar will cover how Fastmarkets assesses its spot MJP aluminium premium, an insight into current market dynamics and how you can manage your risk with the new LME cash-settled co...Read More
More than 200,000 tonnes of aluminium have been delivered into London Metal Exchange warehouses in Asia over the past week, pushing LME on-warrant stock levels back above 1 million tonnes.Despite the large deliveries inward, including 92,875 tonnes on Monday November 18, the backwardation in the LME's December-to-January spread remained.Total on-warrant LME aluminium stocks were now 1,009,700 tonn...Read More