Key data from the pricing session in China on Friday April 19.Key driversLow liquidity and few deals heard over the past week. Some Chinese exporters are considering reducing their offer prices to compete with lower-priced, off-grade material. Most kept their offer prices unchanged from a week earlier, however. Prices are likely to face headwinds in the form...Read More
An overview of the minor metals markets and the reasons for any price moves.[Note: Minor metals prices in...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Futures responded to a series of better-than-consensus firsts quarter reports.Whirlpool (WHR $139.36) is expected to open higher after reporting higher than consensus first quarter revenues and earnings. The company also raised guidance. United Technologies (UTX $136.91) is expected to op...Read More
Steel billet prices were mostly unchanged or went down in most regions in the week ended Thursday April 18, due to thin trading activity amid political elections, public holidays and full order books.CIS, Turkey, Middle East-North AfricaBillet producers in the Commonwealth of Independent States (CIS) have started to seek sales opportunities in Asia, considering the weak sentiment in their traditio...Read More
Steel billet prices were mostly unchanged or went down in most regions in the week ended Thursday April 18, due to thin trading activity amid political elections, public holidays and full order books.CIS, Turkey, Middle East-North AfricaBillet producers in the Commonwealth of Independent States (CIS) have started to seek sales opportunities in Asia, considering the weak sentiment in their traditio...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Crude oil gained $1.70 to $65.70 after the United States halted waivers to countries that are importing oil from Iran. Energy stocks are expected to open higher.Halliburton added $0.87 to $32.00 after reporting higher than consensus first quarter sales and earnings.Kimberly Clark (KMB $12...Read More
Copper and tin were the only base metals on the Shanghai Futures Exchange to dip during morning trading on Friday April 19, depressed by a strong dollar, while the rest of the complex saw limited gains.The most-traded June copper price dipped to 49,390 yuan ($7,367.80) per tonne as at 10:51am Shanghai time, down by 110 yuan, or 0.22%, compared with the previous day's close. The dollar in...Read More
Participants expect China's hot-rolled coil prices to remain high in the days to come following a pickup in domestic trading on Friday April 19.DomesticEastern China (Shanghai): 3,960-3,980 yuan ($591-594) per tonne, widening downward 10 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, down 10 yuan per tonneTrading was stronger despite a slight drop in prices.The domin...Read More
China's domestic rebar prices were flat on Friday April 19 amid stable activity, but participants expected prices to pick up next week. Domestic Eastern China (Shanghai): 4,060-4,080 yuan ($606-609) per tonne, unchangedNorthern China (Beijing): 4,000-4,040 yuan per tonne, unchangedBuyers kept procurement rates flat ahead of the weekend, leading to unchanged prices.Participants, however, said...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebar East China, domestic, grade...Read More
China's domestic rebar prices were flat on Friday April 19 amid stable activity, but participants expected prices to pick up next week. Domestic Eastern China (Shanghai): 4,060-4,080 yuan ($606-609) per tonne, unchangedNorthern China (Beijing): 4,000-4,040 yuan per tonne, unchangedBuyers kept procurement rates flat ahead of the weekend, leading to unchanged prices.Participants, however, said...Read More
Incumbent Indonesia president Joko Widodo's likely victory in the national polls should stimulate a recovery in domestic steel demand, sources in Southeast Asia told Fastmarkets this week. Preliminary results from multiple independent survey agencies, which are determined using samples taken from the actual votes, after the votes were cast on April 17 had shown that Widodo, commonly known as Jokow...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), has successfully commissioned a new billet caster with a capacity of 2 million tonnes per year at its mill in Sohar in northern Oman, equipment provider SMS Group said on Thursday April 18"[The new billet caster] is currently operating with six strands and produces rebar billets of 165 millimeters square section at a casting speed...Read More
Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanist??l, Denmark's second largest steel distributor, it said on Thursday April 17.The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanist??l's automated steel distribution center in Taulov, Denmark, four sales offices in...Read More
China's output of crude steel and finished steel in the first quarter of 2019 both increased significantly year on year on good demand and healthy profits.The country produced a total of 231.07 million tonnes of crude steel over the first three months of 2019, up 9.9% from a year earlier, the National Bureau of Statistics (NBS) said on Wednesday April 17. Chinese mills produced 269.07 million tonn...Read More
Participants expect China's hot-rolled coil prices to remain high in the days to come following a pickup in domestic trading on Friday April 19.DomesticEastern China (Shanghai): 3,960-3,980 yuan ($591-594) per tonne, widening downward 10 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, down 10 yuan per tonneTrading was stronger despite a slight drop in prices.The domin...Read More
China's domestic rebar prices were flat on Friday April 19 amid stable activity, but participants expected prices to pick up next week. Domestic Eastern China (Shanghai): 4,060-4,080 yuan ($606-609) per tonne, unchangedNorthern China (Beijing): 4,000-4,040 yuan per tonne, unchangedBuyers kept procurement rates flat ahead of the weekend, leading to unchanged prices.Participants, however, said...Read More
Copper and tin were the only base metals on the Shanghai Futures Exchange to dip during morning trading on Friday April 19, depressed by a strong dollar, while the rest of the complex saw limited gains.The most-traded June copper price dipped to 49,390 yuan ($7,367.80) per tonne as at 10:51am Shanghai time, down by 110 yuan, or 0.22%, compared with the previous day's close. The dollar in...Read More
Incumbent Indonesia president Joko Widodo's likely victory in the national polls should stimulate a recovery in domestic steel demand, sources in Southeast Asia told Fastmarkets this week. Preliminary results from multiple independent survey agencies, which are determined using samples taken from the actual votes, after the votes were cast on April 17 had shown that Widodo, commonly known as Jokow...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More