The import price for steel billet in Egypt fell in the week ended Thursday August 29, with market activity limited because buyers want to wait until a court decides on the imposition of an import safeguard duty and prices hit bottom.Egypt's Administrative Court suspended temporary safeguarding duties on billet and rebar in July, prompting a flurry of legal activity, which eventually led to the sch...Read More
The Fastmarkets MB 65% Fe Brazil-origin iron ore fines index, first published in January 2014, was launched with a six-month published price history. This data, dating to August 2013, was calculated internally prior to the index's launch. Due to a technical issue, the data series found in Price Book and Fastmarkets' Excel Add-In only extended to July 2014. The full history, including the extended...Read More
Due to a technical issue, Fastmarkets MB's 65% Fe Brazil-origin iron ore fines index data series found in the Fastmarkets Excel Add-in had some missing data. The missing data was scattered from November 2014 to March 2015.The missing data was from November 26, 2014 to December 5, 2014; December 16, 2014; from December 22, 2014 to January 5, 2015; January 16, 2015; and from January 19, 2015 to Marc...Read More
The Turkish steel producers have remained quiet in the deep-sea scrap markets, expecting lower prices, after recently booking a number of cargoes for early-September deliveries, sources said on Thursday August 29.Most recent bookings involved US and UK cargoes sold at $270 per tonne cfr for HMS 1&2 (80:20), dragging the daily indices down by almost $12 per tonne on August 27.But the mills have low...Read More
Turkish steel billet prices have gone down over the past week in line with falling scrap values and limited demand for the material, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $395-405 per tonne on Thursday, down from last week's $410-415 per tonne cfr.The suppliers in the Commonwealth of Independent States (CIS) have...Read More
The import price for steel billet in Egypt fell in the week ended Thursday August 29, with market activity limited because buyers want to wait until a court decides on the imposition of an import safeguard duty and prices hit bottom.Egypt's Administrative Court suspended temporary safeguarding duties on billet and rebar in July, prompting a flurry of legal activity, which eventually led to the sch...Read More
China's domestic rebar prices were flat on Thursday August 29, but participants see lower prices on expectations of more relaxed production restrictions in northern Chinese steel hub Tangshan in September. Domestic Eastern China (Shanghai): 3,530-3,580 yuan ($493-500) per tonne, unchanged Northern China (Beijing): 3,530-3,550 yuan per tonne, unchanged Sellers held their offer prices on the lower i...Read More
Export prices for Chinese stainless steel declined week on week despite the higher cost of nickel after suppliers lowered their asking prices in response to poor demand, market sources said.Concerns about Indonesia potentially bringing forward its ban on unprocessed nickel ore exports continued to provide support for nickel prices.The three-month nickel contract on the London Metal Exchange has av...Read More
Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.These five currency pairs should be on your watch-list for the significant influences they could bring to bear on key global steel and ferrous scrap trade flow...Read More
The Fastmarkets MB 65% Fe Brazil-origin iron ore fines index, first published in January 2014, was launched with a six-month published price history. This data, dating to August 2013, was calculated internally prior to the index's launch. Due to a technical issue, the data series found in Price Book and Fastmarkets' Excel Add-In only extended to July 2014. The full history, including the extended...Read More
Due to a technical issue, Fastmarkets MB's 65% Fe Brazil-origin iron ore fines index data series found in the Fastmarkets Excel Add-in had some missing data. The missing data was scattered from November 2014 to March 2015.The missing data was from November 26, 2014 to December 5, 2014; December 16, 2014; from December 22, 2014 to January 5, 2015; January 16, 2015; and from January 19, 2015 to Marc...Read More
The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday's close at $16,085 per tonne.The LME cash/three-month nickel spread continued to trade in its widest backwardation for 12 years, at $99 per tonne at the close of trading, a marginal...Read More
Turkish steel billet prices have gone down over the past week in line with falling scrap values and limited demand for the material, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $395-405 per tonne on Thursday, down from last week's $410-415 per tonne cfr.The suppliers in the Commonwealth of Independent States (CIS) have...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday August 29 that are worth another look.The three-month nickel contract continued to outshine the rest of the London Metal Exchange base metals complex, rising by 2.3% at the close of trading on Thursday August 29.The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurem...Read More
The iron ore market will be watching the rollout of China's policies and Chinese buyers' procurement strategies in the winter months to see what lies ahead for the steelmaking raw material, which has faced substantial price volatility this year. The winter heating season in China has become a crucial period for iron ore buyers and suppliers, with environmental protection a key aspect of China's 13...Read More
The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday's close at $16,085 per tonne.The LME cash/three-month nickel spread continued to trade in its widest backwardation for 12 years, at $99 per tonne at the close of trading, a marginal...Read More
Seaborne coking coal prices were largely steady on Thursday August 29 after the most-recent transactions sent fob Australia and cfr China prices for premium products in opposite directions.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.54 per tonne, unchanged Hard coking coal, fob DBCT: $134.01 per to...Read More
The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses in Asia. Yet the red metal...Read More
Turkish domestic rebar prices have seen a slight recovery because of the weakness of the country's lira, although demand for material was still poor, sources said on Thursday August 29.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY3,000-3,030 ($515-521) per tonne on Thursday, up from last week's TRY2,970-3,030 per tonne ex-works, including 18%...Read More
The Turkish steel producers have remained quiet in the deep-sea scrap markets, expecting lower prices, after recently booking a number of cargoes for early-September deliveries, sources said on Thursday August 29.Most recent bookings involved US and UK cargoes sold at $270 per tonne cfr for HMS 1&2 (80:20), dragging the daily indices down by almost $12 per tonne on August 27.But the mills have low...Read More