Turkish steel producers stayed away from the deep-sea scrap market for a second day this week, with no new cargoes booked on Tuesday September 3, sources told Fastmarkets.No new cargoes have been booked since Tuesday last week when, day on day, prices dropped by $11.55 per tonne. Market participants said they had heard rumors of possible new trades, but wanted to wait until the...Read More
The uptrend in the iron ore market since 2019 started halted in August, with a month-on-month price decline of 24% for 62% Fe material and a 23% price decline for 65% Fe material.The 65% Fe derivatives contract on the Singapore Exchange - which was launched in December 2018 and settled against Fastmarkets' daily 65% Fe iron ore index - stayed above 2-million-tonne trading volumes in August, compar...Read More
Physical iron ore prices were down on Tuesday September 3 amid a cooling off in buying interest while the futures market stayed largely rangebound.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.14 per tonne, down by $1.44 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $89.53 per tonne, down by $1.44 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, d...Read More
Prices for steel rebar and billet imported into the United Arab Emirates have decreased over the past week, with demand remaining poor, sources said on Tuesday September 3.Market participants believed that demand would improve after the price falls stopped, because buyers did not want to book while prices were still on their way downward.Domestic rebarEmirates Steel is the UAE's largest producer,...Read More
China's domestic rebar prices rose again on Tuesday September 3, supported by strong futures prices even though trading was not very active. Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($504-508) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,600-3,620 yuan per tonne, up 20 yuan per tonne The rebar futures price on the Shanghai Futures Exchange remained above Monday's set...Read More
Hebei, China's largest steelmaking province, will embark on a capacity replacement program this year that would see the removal of 2.5 million tonnes per year of crude steel capacity and 4.44 million tpy of that for the production of iron.The move will involve the installation of converters with crude steel capacity amounting to 13.85 million tpy, and the shutting...Read More
Recent losses in the Chinese ferro-silicon price deepened over the past week in line with persistently softer demand, while the European market was steady, although a lack of buying interest was expected to weigh on prices in the near term. Export price in China drops on weak buying interest while domestic market tracks trendEuropean market under downward pressureUS FeSi prices firm on small trans...Read More
Ferro-chrome prices continue to weaken in Europe due to producers' competition for sparse consumer interest. Alloy prices in Europe still weakening at lowest levels since 2009Ore and alloy prices hold in ChinaAlloy prices tick up in South Korea on potential Indian supply disruption US FeCr prices remain flat on thin tradingThe European ferro-chrome price softened slightly to a fresh ten-year low o...Read More
Fastmarkets presents five main takeaways from the Ferroalloynet 16th International Manganese Products conference in Ulanqab, in northern China's Inner Mongolia, on August 28-30. Growth of steel demand in China likely to slow in H2 2019... Both supply and demand for steel in China will maintain a relatively steady pace in the second half of the year, but the growth rate will be slower compared with...Read More
Chinese hollow section products are set to take a bigger share of the global market in the future, having increased their visibility over the past few years due to their competitive prices and quality, according to Paul Zhao, the export director of China's Yuantai Derun Pipe Manufacturing Group."China will export more hollow steel sections due to the increasing global demand from emerging markets,...Read More
Hebei, China's largest steelmaking province, will embark on a capacity replacement program this year that would see the removal of 2.5 million tonnes per year of crude steel capacity and 4.44 million tpy of that for the production of iron.The move will involve the installation of converters with crude steel capacity amounting to 13.85 million tpy, and the shutting...Read More
The major Egyptian rebar producers have kept their rebar prices unchanged for orders to be placed in September, market sources told Fastmarkets on Monday September 2.The country's biggest producer, Ezz Steel, is offering rebar at E ?11,890 ($718) per tonne ex-works, Beshay Steel is offering rebar at E ?11,830 per tonne ex-works and El-Marakby Steel's price is E ?11,580 per tonne ex-works. All thes...Read More
Recent losses in the Chinese ferro-silicon price deepened over the past week in line with persistently softer demand, while the European market was steady, although a lack of buying interest was expected to weigh on prices in the near term. Export price in China drops on weak buying interest while domestic market tracks trendEuropean market under downward pressureUS FeSi prices firm on small trans...Read More
The three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6.Meanwhile, a steady downturn in nickel's outright price saw it close below $18,000 per tonne.Lead futures began their decent during late in the morning, dipping below the support level at $2,000 per tonne...Read More
The seaborne high-grade manganese ore index fell in the week to August 30, while the low-grade ore market consolidated after falling heavily in the previous week. Seaborne high-grade manganese ore index in China drops Seaborne low-grade cif and fob ore prices range bound Port ore prices drop to encourage buying interest Alloys slide in China, India amid weak demand Alloys stable in Europe, United...Read More
Turkish steel producers stayed away from the deep-sea scrap market for a second day this week, with no new cargoes booked on Tuesday September 3, sources told Fastmarkets.No new cargoes have been booked since Tuesday last week when, day on day, prices dropped by $11.55 per tonne. Market participants said they had heard rumors of possible new trades, but wanted to wait until the...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday September 3 that are worth another look.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.The seaborne high-grade manganese ore index fell in the...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
Market participants have kept a close eye on the softening European selenium price over the summer for clues on how the market will perform from September when activity usually starts to pick up. Fastmarkets assessed the price of selenium in-whs Rotterdam at $7.50-9.50 per lb on Friday August 30, unchanged from the previous assessment but still under pressure with several offers pending at th...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