China's domestic prices further edged lower on Friday May 24 amid weakening demand from stockists.Domestic Eastern China (Shanghai): 4,030-4,070 yuan ($583-589) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, narrowed down 10 yuan per tonneStockists have become increasingly bearish on spot demand from June onwards because of the negat...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebar East China, domestic, grade...Read More
Global ferrous scrap prices rallied during the week ended Friday May 24 in response to the United States' reduction of the tariff on imports of Turkish steel, with the exception of Vietnam, where buyers adopted a more cautious stance. Prices surge on reduction of Turkish steel tariff in the US US export prices to Turkey up Taiwan prices rise but Vietnam prices hold ground on buyer skepticism India...Read More
The UK's light iron market picked up over the week ended Friday May 24, gaining back some of the losses made earlier this month when the cost of British exports to Turkey went down, with domestic demand and relatively tight availability prompting higher offer prices in the UK, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was...Read More
European import prices for alloy steel scrap decreased over the past week because of soft demand even though supply was also limited, sources told Fastmarkets on Friday May 24.The price of 18/8 stainless steel scrap solids imported to Europe was assessed by Fastmarkets on Friday at ?,?940-970 ($1,049-1,082) per tonne cif, down by ?,?50-60 per tonne week on week."Our [scrap] suppliers are complaini...Read More
Indian domestic secondary billet prices rose by at least 400 rupees ($6) per tonne in the week ended Friday May 24 on a rise in the costs for raw materials such as direct-reduced iron (DRI).The price for domestic secondary billet in India assessed by Fastmarkets on May 24 was 31,400-31,600 rupees ($450-453) per tonne ex-works, compared with 31,000-31,200 rupees per tonne last week."Billet prices h...Read More
CIS export steel billet prices continued to climb in the week ended Friday May 24, with customers finally accepting higher prices in bookings.Billet offers from the Black Sea basin were heard within the range of $430-445 per tonne fob Black Sea, depending on supplier, but few customers were ready to accept such prices, with bids still being reported...Read More
Prices in Southeast Asia's steel billet market remained stable on Friday May 24 amid weak demand in the major Southeast Asian import markets of the Philippines and Indonesia.Market participants in the CIS adjusted their offers upward in response to bullish market sentiment after the United States reduced its tariff on imports of Turkish steel to 25% from 50%.Fastmarkets' daily import price assessm...Read More
Transaction prices in Europe for grade-304 stainless steel sheets have widened downward over the past week on poor demand, with further decreases likely in June because of lower alloy surcharges, sources told Fastmarkets on Friday May 24.Fastmarkets assessed the price of grade-304 cold-rolled sheets in Europe at ?,?2,200-2,300 ($2,454-2,566) per tonne delivered on Friday, widening downward by ?,?4...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday May 24. China Taiyuan Iron & Steel (Tisco) released its June tender price for high-carbon ferro-chrome at 6,550 yuan ($947) per tonne on Friday May 24, 350 yuan per tonne lower than its May tender. Two other major Chinese stainless steel mills, Tsingshan and Baosteel, have yet to release June tende...Read More
Global ferrous scrap prices rallied during the week ended Friday May 24 in response to the United States' reduction of the tariff on imports of Turkish steel, with the exception of Vietnam, where buyers adopted a more cautious stance. Prices surge on reduction of Turkish steel tariff in the US US export prices to Turkey up Taiwan prices rise but Vietnam prices hold ground on buyer skepticism India...Read More
Transaction prices in Europe for grade-304 stainless steel sheets have widened downward over the past week on poor demand, with further decreases likely in June because of lower alloy surcharges, sources told Fastmarkets on Friday May 24.Fastmarkets assessed the price of grade-304 cold-rolled sheets in Europe at ?,?2,200-2,300 ($2,454-2,566) per tonne delivered on Friday, widening downward by ?,?4...Read More
Indian domestic secondary billet prices rose by at least 400 rupees ($6) per tonne in the week ended Friday May 24 on a rise in the costs for raw materials such as direct-reduced iron (DRI).The price for domestic secondary billet in India assessed by Fastmarkets on May 24 was 31,400-31,600 rupees ($450-453) per tonne ex-works, compared with 31,000-31,200 rupees per tonne last week."Billet prices h...Read More
Coated flat steel prices in Turkey continued to increase over the week ended Friday May 24, with demand improving in both local and export markets.Demand in the local market improved slightly and export demand was strong because of the United States' decision on May 17 to reduce tariffs on Turkish steel imports to 25% from the previous 50%.Coated coil producers did not accept new orders between Ma...Read More
UK warehousing and logistics company Henry Bath announced its appointment of Jerome Hack to the position of general manager on Friday May 24.Hack will continue to develop Henry Bath's business in the United...Read More
The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors seek to cover shorts ahead of the UK bank holiday next week. Despite moderately low volumes over the day's trading, more than 15,000 lots of nickel changed hands at a value of aro...Read More
Aluminium's three-month price on the London Metal Exchange was the only metal to trade in positive territory at the close of trading on Thursday April 23, climbing by just under 1% to near $1,800 per tonne. News that operations would fully resume at Norsk Hydro's Alunorte alumina refinery in Brazil sent the light metal's futures price spiraling to a three-year low of $1,765.50 per tonne, however i...Read More
Base metals prices on the London Metal Exchange were lower during morning trading on Thursday May 23, with continued trade friction between the United States and China fueling risk-off sentiment while tight nearby spreads failed to attract fresh inflows. "Today has started in much the same mode with the metals losing ground in the Asian session," Kingdom Futures director and chief executive Malcol...Read More
Energy storage in mobility and stationary storage applications will increase annual copper demand by 2.3 million tonnes by 2029, according to an analyst at research and consulting firm IDTechEx.Na Jiao said that total cumulative copper demand in energy storage over the next decade will be just over nine million tonnes. Energy storage - and battery technology in particular - is often seen as having...Read More