Indian mills were keeping domestic HRC prices high in the week ended Friday March 22, even though cheaper imported coil products have beaten down spot prices for the commodity, Fastmarkets has heard.Indian domestic HRC prices were assessed by Fastmarkets at 41,500-42,000 rupees ($604-612) per tonne ex-mill on Friday, unchanged since last week.Indian importers and traders, meanwhile, were offering...Read More
Prices for coated steel products in Turkey fell again in the seven days to Friday March 22, with demand weak in both the domestic and export markets.Sources told Fastmarkets that demand is unlikely to improve in March because of market uncertainty ahead of the mayoral elections being held across the country on the last day of the month.The export market was also poor because of weak demand in Euro...Read More
Domestic hot-rolled coil prices in China retreated on Friday March 22 amid declining trading activity, weighing on sentiment in the export market.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($575-578) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,800-3,810 yuan per tonne, down 30-40 yuan per tonneTrading activity continued to drop during the day, with demand becoming less rob...Read More
Domestic prices for rebar in Poland have been largely stable over the past week, supported by strong demand in the construction industry, sources told Fastmarkets on Friday March 22.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,220-2,320 zloty ($590-617) per tonne ex-works on March 22, compared with 2,200-2,320 zloty per tonne ex-works last week.The assessment r...Read More
Prices in the domestic rebar market in Egypt decreased in the week ended Thursday March 21 on a lack of trading activity, Fastmarkets has heard."There is a feeling that prices will drop further so everyone is in wait-and-see mode," a local source told Fastmarkets."Besides," he added, "the government has begun big projects and, although...Read More
Import prices for ferrous scrap in Asia moved in different directions this week amid mixed market fundamentals, participants told Fastmarkets on Friday March 22.VietnamThe uptrend in Vietnam's scrap import prices came to a halt this week, amid a slowdown in procurement activity and falling bid levels, market sources said.Fastmarkets' weekly import price assessment for HMS 1&2 (80:20) sol...Read More
Buyers in the United States continued to book pig iron during the week ended Friday March 22 at prices higher than those heard in February, due to a stronger scrap market and lower material availability, Fastmarkest has learned.Fastmarkets' import price assessment for pig iron in the US was unchanged week on week at $365-370 per tonne cfr on March 22.Several cargoes were heard to have been booked...Read More
Global scrap prices have gone up slightly except in Vietnam during the working week from Monday March 18 to Friday March 22, with demand being seen in Turkey only later in the week. Turkish steel producers returned to the market at the end of the week US ferrous scrap export prices up Vietnam ferrous scrap prices fall on weak demand Taiwanese prices rise on higher offers India on holidayTurkey imp...Read More
Austenitic alloy steel scrap prices edged higher in Europe this week in reaction to more stable nickel costs. The three-month official bid/offer spread for nickel on the London Metal Exchange was $13,010/13,020 per tonne on Friday March 22, compared with $12,945/12,960 per tonne on March 15.This...Read More
Slab export prices from Brazil went up by $10 per tonne in the week ended Friday March 22 because higher offers were reported, although these were resisted by buyers, Fastmarkets heard.Fastmarkets' weekly assessment of Brazilian slab export prices went up to $510-550 per tonne fob on March 22, from $500-540 per tonne fob a week earlier.Producers continued to offer material mainly to the United Sta...Read More
The market for CIS export steel billet finally saw a thaw in buying activity in the week ended Friday March 22 despite the fact that not all customers were ready to accept the prices being offered by mills.Offers from CIS producers for April- and May-rolling material varied within the range of $460-465 per tonne fob Black Sea, while most bids were still lower than $450 per tonne fob Black Sea.The...Read More
Prices in the domestic rebar market in Egypt decreased in the week ended Thursday March 21 on a lack of trading activity, Fastmarkets has heard."There is a feeling that prices will drop further so everyone is in wait-and-see mode," a local source told Fastmarkets."Besides," he added, "the government has begun big projects and, although...Read More
The price range in Europe for grade-304 stainless steel cold-rolled (CR) sheet widened upward this week, with some of the higher offers heard last week finally being accepted by buyers, although business was also done at the same prices as before, Fastmarkets heard on Friday March 22.Despite the partial increase, buyers said that many offers were still considered to be unrealistically high, and th...Read More
Some ferro-chrome suppliers to China have been charging the country's domestic stainless steel mills wider premiums to monthly tenders amid strong demand, market sources told Fastmarkets. Domestic Chinese stainless mills release yuan-based tender prices every month, announcing the price they are prepared to pay for ferro-chrome from domestic suppliers. Overseas ferro-chrome suppliers are often exp...Read More
China's leading stainless steel mills announced increases in their April tender prices for high-carbon ferro-chrome by 300 yuan ($45) per tonne month on month on Friday March 22.The rises will be imposed by Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel, Fastmarkets heard.After this adjustment, Tisco's April tender price for high-carbon ferro-chrome will be 6,950 yuan ($1,038) per tonn...Read More
The implementation of tariffs and quotas against US steel and aluminium imports has been heralded and criticized as an unusual trade remedy, with President Donald Trump's administration applying blanket duties rather than more focused - and more typical - anti-dumping and countervailing margins.Section 232 of the Trade Expansion Act of 1962, a cold-war era law, allows the president to place restri...Read More
As of March 23, it has been a full year since US President Donald Trump's administration imposed tariffs against imported steel and aluminium under Section 232 of the Trade Expansion Act of 1962, which allows the president to place restrictions on imports on national security grounds.Trump's trade measures have drawn criticism from several US trading partners who argue that these actions violate e...Read More
China's importers of stainless steel billet and slab, as well as stainless hot-rolled plate and coil originating from the European Union, Japan, South Korea and Indonesia have been instructed to pay a deposit to the country's customs authorities from Saturday March 23 onward.This is a preliminary measure relating to an ongoing anti-dumping probe into such imports, which is expected to come to a co...Read More
Buyers in the United States continued to book pig iron during the week ended Friday March 22 at prices higher than those heard in February, due to a stronger scrap market and lower material availability, Fastmarkest has learned.Fastmarkets' import price assessment for pig iron in the US was unchanged week on week at $365-370 per tonne cfr on March 22.Several cargoes were heard to have been booked...Read More
Slab export prices from Brazil went up by $10 per tonne in the week ended Friday March 22 because higher offers were reported, although these were resisted by buyers, Fastmarkets heard.Fastmarkets' weekly assessment of Brazilian slab export prices went up to $510-550 per tonne fob on March 22, from $500-540 per tonne fob a week earlier.Producers continued to offer material mainly to the United Sta...Read More