Brazilian apparent steel consumption was 1.72 million tonnes in October, up by 3.70% year-on-year from 1.66 million tonnes in the corresponding month in 2017, national steel association Instituto A??o Brasil said on Friday November 23.Demand for flat steel grew in an annual comparison, but long steel was down on the same basis. This confirmed that the recovery in the long products sector in the co...Read More
CIS long steel producers have reduced their rebar and wire rod offer prices for foreign customers because of the downturn in the global long steel markets, notably in China, Fastmarkets heard on Monday November 26.The domestic rebar price in Eastern China dropped to 3,750-3,780 yuan ($540-544) per tonne ex-works on November 26 from 4,650-4,690 yuan per tonne ex-works on November 1.Recent offers of...Read More
Turkish steel producers continued to book deep-sea scrap for December deliveries at the beginning of this week, following the decrease in prices last week, sources said on Monday November 26.A steel mill in the Iskenderun region booked a UK cargo, comprising 14,000 tonnes of HMS 1&2 (80:20) at $320 per tonne and 6,000 tonnes of shredded at $330 per tonne cfr late on November 23.After this trade, t...Read More
Turkish domestic scrap prices have continued to weaken over the past week due to limited demand and falling finished steel values, sources said on Monday November 26.Fastmarkets' weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,650-1,850 ($313-351) per tonne delivered on Monday, narrowing downward from TRY1,650-1,940 per tonne on November 19.Long steel producers...Read More
Physical iron ore prices plummeted on Monday November 26 following a slump in futures and steel markets, with Chinese steelmakers fearing losses. MB 62% Fe Iron Ore Index: $64.25 per tonne cfr Qingdao, down $5.88 per tonne. MB 62% Fe Pilbara Blend Fines Index: $63.52 per tonne cfr Qingdao, down $5.80 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $68.97 per tonne cfr Qingdao, down $4.10 per tonn...Read More
Slab export prices from Brazil decreased in the week ended Friday November 23 due to weaker sentiment in global markets and the prices achieved in reported deals to the United States and Europe.Fastmarkets' weekly assessment of Brazilian export slab prices fell to $450-505 per tonne fob on Friday, compared with $505-515 per tonne fob a week before.Different Brazilian producers were heard booking v...Read More
China's domestic rebar prices tumbled on Monday November 26 on big losses in the billet and futures markets. Domestic Eastern China (Shanghai): 3,750-3,800 yuan ($540-547) per tonne, down 150-170 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 250 yuan per tonneThe billet market experienced a decline of 160 yuan per tonne over the weekend, which led to a deterioration of s...Read More
Import prices for steel slab in Southeast Asia and East Asia were unchanged over the past week in a quiet market, with no new trades or negotiations heard.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $460-470 per tonne cfr on Monday November 26, flat with the prior week.No bookings were reported. As a result, market participants agreed that the trada...Read More
Prices for ferro-vanadium and vanadium pentoxide from China slipped in the week ended Friday November 23 after sellers cut their export offers amid a lull in consumer buying and hesitance to purchasing at high levels. European prices held at all-time highs, despite talk of cheaper numbers, with sellers so far under no pressure to cut their offers. Chinese vanadium prices tick down on bearish...Read More
Ferro-manganese and silico-manganese prices into Europe made strong gains in the week ended Friday November 23 in response to concerns of a potential shortage should demand see a renewal. Ore prices in China and fob range-bound Alloys in China tick down Ferro-manganese and silico-manganese prices in Europe rise Silico-manganese in India gains prior to tenders Manganese ore prices i...Read More
The Chinese ferro-silicon market rebounded in the week ended Friday November 23 when low stock levels at smelters met with renewed demand from consumers, while the European market is in a holding pattern while waiting to settle longer-term delivery settlements with steel mills. China sees renewed consumer demand amid reported lower ferro-silicon stock levels Europe eyes first-quarter settlem...Read More
Brazilian steelmakers are concerned that the domestic industry will struggle if President-elect Jair Bolsonaro reduces or does away with import tariffs when he takes office in January 2019, sources told Fastmarkets MB last week.Other market participants, however, do not believe any changes will be done abruptly or without corporate tax reforms. The new federal administration's future minister of e...Read More
Global crude steel production volumes continued to rise year on year in October 2018, according to statistics published by the World Steel Association (Worldsteel) on Friday November 23.World crude steel output totaled 156.6 million tonnes in October this year, compared with 148 million tonnes in the corresponding month of 2017. Asia continued to be the single largest steel-producing region, with...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday November 26, with downside pressure emerging amid broad strength in the US dollar index and continued global trade tensions.The three-month zinc price fell by 1.2% over the day to show the biggest losses over the afternoon, while volumes traded on the exchange were high at 12,375 lots by the close o...Read More
Prices for ferro-vanadium and vanadium pentoxide from China slipped in the week ended Friday November 23 after sellers cut their export offers amid a lull in consumer buying and hesitance to purchasing at high levels. European prices held at all-time highs, despite talk of cheaper numbers, with sellers so far under no pressure to cut their offers. Chinese vanadium prices tick down on bearish...Read More
Ferro-manganese and silico-manganese prices into Europe made strong gains in the week ended Friday November 23 in response to concerns of a potential shortage should demand see a renewal. Ore prices in China and fob range-bound Alloys in China tick down Ferro-manganese and silico-manganese prices in Europe rise Silico-manganese in India gains prior to tenders Manganese ore prices i...Read More
The Chinese ferro-silicon market rebounded in the week ended Friday November 23 when low stock levels at smelters met with renewed demand from consumers, while the European market is in a holding pattern while waiting to settle longer-term delivery settlements with steel mills. China sees renewed consumer demand amid reported lower ferro-silicon stock levels Europe eyes first-quarter settlem...Read More
The latest news and price moves to start the Asian day on Tuesday November 27.Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday November 26, with downside pressure emerging amid broad strength in the United States dollar index and continued global trade tensions. Read more in our live futures report.Here are how prices looked at the close...Read More
The latest metal markets news and price moves to start the North American day on Monday November 26. Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday November 26, consolidating against broad strength in the US dollar while low stocks and supply disruptions...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday November 26.Base metals prices on the Shanghai Futures Exchange were broadly down during Asian morning trading on Monday amid the prevailing risk-off sentiment due to simmering United States-China trade tensions and a slight uptick in the dollar index.Check Fastmarket MB's live futures...Read More