Turkish domestic prices for rebar and wire rod have gone down over the past seven days amid weakening imported scrap costs and sluggish demand, sources said on Thursday September 19.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY2,750-2,820 ($483-496) per tonne on Thursday, down from last week's TRY2,825-2,920 per tonne.The domestic rebar prices...Read More
Turkish long steel export prices have continued to weaken over the past week in line with the falling imported scrap values and limited demand for the material, sources said on Thursday September 19.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey, was $400-410 per tonne on an actual-weight basis on Thursday, down from last week's $410-415 per ton...Read More
The deep-sea scrap import market in Turkey was quiet again after earlier bookings of UK-origin cargoes sent prices down sharply, sources said on Thursday September 19.On Wednesday, two steel mills in the Iskenderun region booked UK cargoes at $228 per tonne cfr for HMS 1&2 (80:20).After these sales, the daily scrap indices went down by almost $10 per tonne on September 18.Steel producers and scrap...Read More
Seaborne iron ore prices continued to fall on Thursday September 19 amid retreats in the futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.23 per tonne, down $3.19 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.62 per tonne, down $3.19 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.47 per tonne, down $2.96 per tonne.58% Fe fines high-...Read More
Export prices for steel billet from the CIS region have been under pressure from weak demand and falling scrap prices internationally, market sources told Fastmarkets on Thursday September 19.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $356 per tonne on September 19, unchanged day-on-day but down by $7 per tonne since the beginning of the week.A deal for Russia-origin bi...Read More
Import prices for steel billet in Egypt fell in the week ended Thursday September 19, amid lower offer prices from the Commonwealth of Independent States.Buyers were reluctant to book because of the uncertainty about the possible imposition of safeguard duties.The Supreme Administrative Court of Egypt has again postponed its decision on the possible re-imposition of safeguard duties on billet and...Read More
China's spot rebar prices and its futures contract fell further on Thursday September 19 after a draft specifying looser steelmaking curbs for the remainder of the year was circulated via social media, though there is still no official word on such restrictions.Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($517-521) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,580-3,620 yuan...Read More
Ramp-ups in Chinese nickel pig iron (NPI) production will not inhibit the use of traditional ferro-nickel in European stainless steel production, multinational miner Anglo American's head of business intelligence told Fastmarkets at the International Stainless and Special Steel Summit in Seville, Spain, on Tuesday September 17.Chinese production of NPI was up by 50.9% year on year in July 2019 to...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
Brazilian import volumes of flat and long steel displayed opposite tendencies in August, according to figures from the country's economy ministry published last week.Import volumes of flat steel declined year on year by 11.29% to 95,116 tonnes in the month, from 107,216 tonnes, mostly because of lower volumes imported from China.Imports of flat steel from China fell to 41,950 tonnes in August 2019...Read More
India has given the go-ahead to the state-owned Steel Authority of India (SAIL), to sell up to 7 million tonnes of iron ore annually , to maintain security of raw material supplies ahead of the expiration of 31 mining leases in the country next year. "The Ministry of Mines has allowed SAIL to offload in a year up to a quantity equivalent to [a] maximum [of] 25% of [the] total iron ore production i...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
Export prices for steel billet from the CIS region have been under pressure from weak demand and falling scrap prices internationally, market sources told Fastmarkets on Thursday September 19.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $356 per tonne on September 19, unchanged day-on-day but down by $7 per tonne since the beginning of the week.A deal for Russia-origin bi...Read More
Base metals ended flat to lower on the London Metal Exchange on Thursday September 19- tin closed below $17,000 per tonne and copper below $5,800 per tonne.The three-month tin price ended at $16,457 per tonne this afternoon, its weakest close since August 30 and down from an intraday high of $16,895 per tonne - a drop of around 2% from Wednesday.Volumes were comparatively high - 593 lots changed h...Read More
The deep-sea scrap import market in Turkey was quiet again after earlier bookings of UK-origin cargoes sent prices down sharply, sources said on Thursday September 19.On Wednesday, two steel mills in the Iskenderun region booked UK cargoes at $228 per tonne cfr for HMS 1&2 (80:20).After these sales, the daily scrap indices went down by almost $10 per tonne on September 18.Steel producers and scrap...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday September 19 that are worth another look.Ramp-ups in Chinese nickel pig iron (NPI) production will not inhibit the use of traditional ferro-nickel in European stainless steel production, multinational miner Anglo American's head of business intelligence told Fastmarkets at the International Stainless and Special Steel Summit in...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
Base metals ended flat to lower on the London Metal Exchange on Thursday September 19- tin closed below $17,000 per tonne and copper below $5,800 per tonne.The three-month tin price ended at $16,457 per tonne this afternoon, its weakest close since August 30 and down from an intraday high of $16,895 per tonne - a drop of around 2% from Wednesday.Volumes were comparatively high - 593 lots changed h...Read More
The availability of ample cargoes of seaborne premium mid-vol hard coking coal has raised the possibility of traders engaging in panic selling.Premium hard coking coal, fob DBCT: $140.66 per tonne, down $3.42 per tonnePremium hard coking coal, cfr Jingtang: $161.43 per tonne, down $2.38 per tonneHard coking coal, fob DBCT: $122.50 per tonne, down $9.25 per tonneHard coking coal, cfr Jingtang: $140...Read More
China's domestic hot-rolled coil prices dropped on Thursday September 19 amid expectations of higher output in the northern region in the next six months. DomesticEastern China (Shanghai): 3,640-3,650 yuan ($513-514) per tonne, down 50 yuan per tonneNorthern China (Tangshan): 3,600-3,610 yuan per tonne, narrowing downward by 10 yuan per tonneA draft of measures to cut emissions in northern China d...Read More