Turkish rebar and wire rod export prices have gone down further over the past week amid falling imported scrap values and limited demand, sources said on Thursday September 26.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey was $395-402 per tonne on Thursday, down from $400-410 per tonne fob on actual weight basis last week.The steel producers in...Read More
Import prices for steel billet in Egypt fell in the week ended Thursday September 26, amid lower offer and deal prices from the Commonwealth of Independent States.Buyers were reluctant to book material because of uncertainty about the possible imposition of safeguard duties.The Supreme Administrative Court of Egypt has repeatedly postponed its decision on the possible re-imposition of safeguard du...Read More
The United Arab Emirates' biggest producer Emirates Steel and second biggest producer Conares Steel have both decreased their rebar prices, effective from Thursday September 26, Fastmarkets has learned.Emirates Steel is now offering rebar at 1,737 dirhams ($472) per tonne ex-works, down from 1,953 dirhams...Read More
The Turkish steel mills have continued to book deep-sea scrap for November shipments, keeping prices fairly stable, sources said on Thursday September 26.A steel mill in the Izmir region booked a Baltic Sea cargo on Thursday, comprising 30,000 tonnes of HMS 1&2 (80:20) at $223.50 per tonne and 5,000 tonnes of bonus at $233 per tonne cfr.Another steel mill in the Marmara region also booked a Baltic...Read More
Physical iron ore prices strengthened on Thursday September 26 following gains in the futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.91 per tonne, up by $0.57 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.30 per tonne, up by $0.57 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.45 per tonne, up by $1.79 per tonne.58% Fe fines high-premium, cfr Qingdao: $80....Read More
Mining major Rio Tinto is stepping into China's port market for iron ore, with sales in the segment gaining significance amid changes in the raw material procurement strategies of steelmakers in the country.It will begin a trial sale of its products at the Port of Rizhao in eastern China and the Port of Caofeidian in northern China, its vice president for iron ore sales and marketing, Simon Farry,...Read More
Steel billet prices in the CIS region decreased slightly in the week ended Thursday September 26 after last week's rebound, because of the resumed softening of scrap prices in Turkey.Several billet cargoes were reported sold to Asia and Egypt at prices of less than $360 per tonne fob Black Sea, Fastmarkets learnt.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $357 per tonne...Read More
Import prices for steel billet in Egypt fell in the week ended Thursday September 26, amid lower offer and deal prices from the Commonwealth of Independent States.Buyers were reluctant to book material because of uncertainty about the possible imposition of safeguard duties.The Supreme Administrative Court of Egypt has repeatedly postponed its decision on the possible re-imposition of safeguard du...Read More
The price of billet produced in Turkey has gone down over the past week in line with falling seaborne scrap costs, while import billet prices remain stable, sources said on Thursday September 26.Fastmarkets' weekly price assessment for steel billet export, fob main port Turkey was $355-360 per tonne on Thursday, down from $370-380 per tonne fob last week.A steel mill in the Iskenderun region was h...Read More
Taiyuan Iron & Steel (Tisco) has raised its ferro-chrome tender price for October above that of Tsingshan Group in a rare move, signaling differing procurement strategies and feedstock needs for the remainder of 2019. Tisco took the lead on Friday September 20 by announcing a monthly tender price for high-carbon ferro-chrome at 6,500 yuan ($911) per tonne on a duty-paid basis including delivery fo...Read More
China's domestic stainless steel prices rose late last week on costlier nickel, and maintained those gains over the first three days of this week.The start of trading of stainless steel futures on the Shanghai Futures Exchange on Wednesday September 25 had little effect on the spot market. Fastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs Chin...Read More
The three-month copper price on the London Metal Exchange had declined by the close of trading on Thursday September 26, below the $5,800-per-tonne resistance level while turnover was thin against an ascending US dollar index. Copper's outright price on the LME closed at $5,722 per tonne - its lowest level since September 3 - while volumes traded were light with just over 11,100 lots exchange...Read More
Traded volumes and open interest have remained high for the CME's aluminium premiums futures contracts even after spot market volatility eased this year, Sean Kessler, manager of metals products at the Chicago Mercantile Exchange said on Wednesday September 25. Speaking at Fastmarkets' International Aluminium conference in Athens, Greece, Kessler said sustained high volumes during current quieter...Read More
Domestic price sentiment in Europe for hot-dipped galvanized coil (HDG) has fallen over the past week due to slow market activity, sources told Fastmarkets on Thursday September 26.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?520-550 ($571-604) per tonne ex-works on September 25, down from ?,?550-570 per tonne ex-works. The assessment reflected deals an...Read More
Fastmarkets published its coking coal indices three hours later than scheduled on Thursday September 26 due to technical problems.The following indices were published in Fastmarkets' price book later than scheduled:Premium Hard Coking Coal, cfr Jingtang, $/tonne Hard Coking Coal, cfr Jingtang, $/tonne Premium Hard Coking Coal, fob DBCT, $/tonne Hard Coking Coal, fob DBCT, $/tonne&nb...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday September 26 that are worth another look.Traded volumes and open interest have remained high for the CME's aluminium premiums futures contracts even after spot market volatility eased this year, Sean Kessler, manager of metals products at the Chicago Mercantile Exchange said on Wednesday September 25.China's domestic stainless...Read More
The three-month copper price on the London Metal Exchange had declined by the close of trading on Thursday September 26, below the $5,800-per-tonne resistance level while turnover was thin against an ascending US dollar index. Copper's outright price on the LME closed at $5,722 per tonne - its lowest level since September 3 - while volumes traded were light with just over 11,100 lots exchange...Read More
Traded volumes and open interest have remained high for the CME's aluminium premiums futures contracts even after spot market volatility eased this year, Sean Kessler, manager of metals products at the Chicago Mercantile Exchange said on Wednesday September 25. Speaking at Fastmarkets' International Aluminium conference in Athens, Greece, Kessler said sustained high volumes during current quieter...Read More
Physical iron ore prices strengthened on Thursday September 26 following gains in the futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.91 per tonne, up by $0.57 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.30 per tonne, up by $0.57 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.45 per tonne, up by $1.79 per tonne.58% Fe fines high-premium, cfr Qingdao: $80....Read More
Steel billet prices in the CIS region decreased slightly in the week ended Thursday September 26 after last week's rebound, because of the resumed softening of scrap prices in Turkey.Several billet cargoes were reported sold to Asia and Egypt at prices of less than $360 per tonne fob Black Sea, Fastmarkets learnt.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $357 per tonne...Read More