The price of shredded ferrous scrap imported into India fell this week, confirming the correction that market participants had been expecting, sources told Fastmarkets on Friday February 22.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $339.44 per tonne cfr on February 22, a fall of $6.06 per tonne from $345.50 per tonne cfr on Februa...Read More
Light iron steel scrap prices in the United Kingdom have increased for a fifth consecutive week, because of higher export prices in key markets, sources told Fastmarkets on Wednesday February 22,.But a correction could be coming, they added, with global markets beginning to struggle.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?95-120 ($124-157...Read More
The US copper market saw heavy buying Friday morning amid mounting optimism that the trade dispute between the United States and China will be resolved in the coming months.The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped 4.20 cents to $2.9390 per lb.Progress in US-China trade talks continued to prompt positive market sentiment over the week, w...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The domestic Chinese battery-grade lithium hydroxide spot price fell by more than 3% in the week to Thursday February 21 although the carbonate assessment held firm - a pattern that was reversed in the seaborne market, where the carbonate price dropped week on week and the hydroxide price was steady. Offers for battery-grade lithium hydroxide in China were lower week on week, bringing the Fastmark...Read More
Prices for imported flat steel products in South America continued to rise over the past week with Chinese mills not backing down from more expensive offers made after the Lunar New Year celebrations, despite faltering demand in the region, Fastmarkets heard on Friday February 22.Fastmarkets assessed the import price for hot-rolled coil (HRC) in South America at $560-570 per tonne cfr on February...Read More
Indian flat steel producers increased domestic hot-rolled coil (HRC) prices by 1,000 rupees ($14) per tonne at the start of this week to factor in the higher prices of the commodity in the international market and rising raw materials costs.The price increase of 1,000 rupees per tonne for sales in the second half of February takes Fastmarkets' domestic HRC price to 40,500-41,000 rupees per to...Read More
Steel coil prices in Turkey have mostly been stable in the week ended Friday February 22, with buying activity remaining weak.Prices are likely to fall soon if demand does not improve, sources told Fastmarkets.Buyers placed orders early in February because they had low stock levels, but end-user demand in the country was not strong, so at the moment buyers prefer to wait and see whether prices wil...Read More
Brazil's apparent consumption of steel totaled 1.54 million tonnes in January, down 5.6% from 1.63 million tonnes during the same month in 2018, national steel association Instituto A??o Brasil said on Friday February 22.Performance lagged most in the flat steel market. Flat steel usage reached 905,000 tonnes in the month, as it fell by 8.2% from 986,000 tonnes in January 2018. Long steel consumpt...Read More
China's domestic rebar prices maintained their upward trend on Friday February 22 with stockists looking to replenish their inventories. Domestic Eastern China (Shanghai): 3,720-3,760 yuan ($554-560) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,730-3,750 yuan per tonne, up 30 yuan per tonneSome stockists were actively buying rebar to replenish inventories, wh...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
The import pig iron market in the United States calmed down during the week ended Friday February 22, after several bookings were completed, sources told Fastmarkets on the day.Fastmarkets' import price assessment for pig iron in the US was $355-360 per tonne cfr on February 22, stable week on week."The workable price for buyers is still below the target price for suppliers, but everything will de...Read More
Steel scrap prices in the principal trading regions have fallen sharply, as was expected by the majority of market participants, during the working week from Monday February 18 to Friday February 22.The price falls followed the decrease in Turkish scrap import prices this week, which was itself the result of limited demand for rebar and billet in the country's domestic market.Prices in Taiwan mana...Read More
The price of shredded ferrous scrap imported into India fell this week, confirming the correction that market participants had been expecting, sources told Fastmarkets on Friday February 22.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $339.44 per tonne cfr on February 22, a fall of $6.06 per tonne from $345.50 per tonne cfr on Februa...Read More
Brazilian slab export prices have jumped for a third consecutive week following the positive trend in steel prices and the costs of raw materials.Fastmarkets' weekly assessment of Brazilian slab export prices was $490-530 per tonne fob on Friday February 22, compared with $460-510 per tonne fob a week earlier.Some volumes were still available for April shipment, and sellers were waiting to place o...Read More
CIS steel billet producers reduced offers of April-rolling billet in the week ended Friday February 22 in an attempt to attract customers, following the decline in global scrap prices, particularly in Turkey.Fastmarkets daily index for Northern Europe-origin HMS 1&2 (80:20) was calculated at $304.96 per tonne cfr Turkey on Friday February 22, down from $324.29 on the same day last week.The daily i...Read More
Weak demand and excess supply have driven Indian domestic secondary billet prices down by at least 1,300 rupees ($18) per tonne over the week ending Friday February 22, Fastmarkets has learnt.Indian domestic secondary billet prices ended the week at 33,000-33,200 rupees ($464-467) per tonne ex-mill. This was down from 34,300-34,500 rupees per tonne ex-mill, assessed by Fastmarkets last week.An off...Read More
Prices for long and flat stainless steel products in Europe were stable this week, but at least one producer has announced sharp increases for March and the rest of the market is expected to follow suit.Finland-based Outokumpu announced on its website on Thursday February 21 that alloy surcharges for grade-304 cold-rolled (CR) sheets for March will increase by ?,?123 ($139) per tonne to ?,?1,351 (...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 22. Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 22.China The domestic ferro-chrome spot price rose in response to higher raw material prices pushing up production costs. But Tisco steel mill announced their March tender...Read More
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel has increased its new hot-rolled coil offers by $40 per tonne for April-delivery and shipment cargoes due to the recent increases in raw materials costs.The producer's SAE1006 HRC is now on offer at $535 per tonne on a cif basis, up $40 per tonne from $495 per tonne cif for iMarch-shipment materials. And its SS400 and pipemaking...Read More