Ferrous scrap prices in Mexico have dropped for almost all grades and in almost all regions this week, with some of the country's main steelmakers applying price cuts.Last week, a large Mexican mill confirmed a price reduction of 400 pesos ($20.57) per tonne for all scrap grades, adding to previously announced price cuts of 200 pesos per week in September by two other large scrap consumers.But som...Read More
Turkish deep-sea scrap prices have shown a slight uptick with news of a fresh European cargo trade, but the market direction was still unclear, sources said on Tuesday September 24.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) at $220 per tonne and 10,000 tonnes of shredded at $230 per tonne cfr.News of the cargo raised the daily scrap i...Read More
Import prices for steel billet and rebar in the United Arab Emirates fell this week because of soft demand, and rebar prices were also expected to decline, sources said on Tuesday September 24.Market participants expected that new domestic rebar prices would be announced in the near future, Fastmarkets heard.Billet importsBillet was on offer from Oman at about $405-410 per tonne cpt, and $390 per...Read More
China's domestic rebar prices continued their upward on Tuesday September 24 amid sustained bullishness. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($521-525) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,590-3,630 yuan per tonne, up 20 yuan per tonneShort-term production restrictions in Hebei province's Tangshan city and in Shandong province continued to provide support to s...Read More
Steelmaking restrictions planned for China's northern region - where the concentration of mills are the highest in the country - during the autumn-winter period appear to be looser this year compared with the corresponding period of last year.While no official guidelines have emerged, a draft of measures to control air pollution in 28 cities in the region during the October-March period has been c...Read More
Steelmaking restrictions planned for China's northern region - where the concentration of mills are the highest in the country - during the autumn-winter period appear to be looser this year compared with the corresponding period of last year.While no official guidelines have emerged, a draft of measures to control air pollution in 28 cities in the region during the October-March period has been c...Read More
Turkey produced 22.55 million tonnes of crude steel in January-August 2019, down by 10.46% from 25.19 million tonnes in the corresponding eight-month period of last year, the Turkish Steel Producers Association (T???oeD) said last week.The drop in output was largely attributed to subdued end-user demand and weakening export markets for Turkish steel.The European Commission (EC) imposed definitive...Read More
Domestic price sentiment for hot-dipped galvanized coil (HDG) in Europe has continued to be negative in the week ended Thursday September 19 due to slow market activity, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was unchanged over the week at ?,?550-570 ($608-630) per tonne ex-works on September 19, reflecting the latest deals...Read More
A summary of base metals premiums from across the globe for the week to Tuesday September 24.Please click...Read More
Fastmarkets proposes to discontinue its assessment of the copper rod annual premium, cif Nhava Sheva, due to a lack of liquidity and excessively long premium negotiation periods.Annual premium negotiations between Indian buyers and international sellers can run for as long as seven months, making it very difficult for price reporters to capture deals and concentrate trade liquidity.Fastmarkets gen...Read More
Ferrous scrap prices in Mexico have dropped for almost all grades and in almost all regions this week, with some of the country's main steelmakers applying price cuts.Last week, a large Mexican mill confirmed a price reduction of 400 pesos ($20.57) per tonne for all scrap grades, adding to previously announced price cuts of 200 pesos per week in September by two other large scrap consumers.But som...Read More
The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday September 24, dipping below the $2,300-per-tonne support level despite falling exchange stocks, while aluminium futures closed at their lowest level since September 3. Zinc futures closed at $2,282 per tonne this afternoon, also settling at their lowest level since September 3 against a broad weake...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 24 that are worth another look.The long-lasting downtrend in the international scrap market, which has pushed prices to three-year lows this month, has led to the point where steelmakers which use electric-arc furnaces (EAFs) have a significant advantage over those equipped with blast furnaces (BFs), which use iron ore...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
Steelmaking restrictions planned for China's northern region - where the concentration of mills are the highest in the country - during the autumn-winter period appear to be looser this year compared with the corresponding period of last year.While no official guidelines have emerged, a draft of measures to control air pollution in 28 cities in the region during the October-March period has been c...Read More
The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday September 24, dipping below the $2,300-per-tonne support level despite falling exchange stocks, while aluminium futures closed at their lowest level since September 3. Zinc futures closed at $2,282 per tonne this afternoon, also settling at their lowest level since September 3 against a broad weake...Read More
Bearish sentiment continues to grip the seaborne coking coal market, where prices fell to a three-year low this month.Premium hard coking coal, fob DBCT: $128.19 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $153.98 per tonne, down $1 per tonneHard coking coal, fob DBCT: $122.50 per tonne, unchangedHard coking coal, cfr Jingtang: $132.76 per tonne, unchangedLow-vol PCI, fob DBCT: $98...Read More
Ongoing steelmaking restrictions continued to support prices for hot-rolled coil in China on Tuesday September 24.DomesticEastern China (Shanghai): 3,660-3,670 yuan ($515-516) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, unchangedSpot prices remained largely at Monday's levels amid optimism due to the emergence of more details surrounding steelma...Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More