The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?In a strong start to the year, January saw ore and alloy pricing gains across all markets priced by Fastmarkets - with the exception of Chinese silicon metal export prices, which retreated slightly last month after posting impressive gains in December 2020.The combination...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum. Brent crude oil is back above $70 per barrel, the highest it has been for two years. Tuesday's manufacturing purchasing managers' index (PMI) data for...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
European hot-rolled coil producers have remained in control of domestic prices despite mixed sentiment among buyers, market sources told Fastmarkets on Wednesday June 2.Tight supply and long lead times from European mills combined with limited access to overseas coil have been supporting the domestic prices. A majority of European producers were reported to be sold out of third-quarter-rolling coi...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 2 after a rise in demand led to mills struggling to keep up, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,614-1,638) per tonne on June 2, up from ?,?1,250-1,320 per tonne on May 26.Hollow section producers had less material to offer cust...Read More
European steel H-beam prices moved up again on Wednesday June 2, with producers achieving continuous price increases with little resistance from customers, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?940-970 ($1,149-1,186) per tonne on Wednesday, up from ?,?900-920 per tonne one week earlier. Some mills have steppe...Read More
Supply-demand imbalance continued to push domestic steel wire rod prices in Northern Europe further upward in the week to Wednesday June 2, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?830-850 ($1,015-1,039) per tonne on Wednesday, narrowing upward from ?,?800-850 per tonne seven days earlier.The assessmen...Read More
Turkish steel mills remained largely silent in the deep-sea scrap import markets due to continued sluggish finished steel demand in both domestic and export outlets, market participants told Fastmarkets on Wednesday June 2. Turkish steelmakers have been focusing on finished steel sales in the recent weeks in lieu of demand in Asia, while customers in the domestic market have been struggling with h...Read More
A large gap between bids and offers ensured that only limited business took place in the Japan steel scrap export market over the past week, sources said on Wednesday June 2.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?46,000-48,000 ($420-438) per tonne on Wednesday, down from ?47,000-48,500 per tonne one week earlier.Japanese H2 was heard sold to a South K...Read More
Iron ore physical prices rose on Wednesday June 2, while low-grade fines increased on buying interest from Chinese steel mills, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $209.19 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $211.50 per tonne, up $0.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.30 per tonne, up $1.30 per tonne65% Fe B...Read More
The chaos being experienced in the global container shipping industry is expected to continue for some time with a shortage of an estimated four million boxes creating havoc with congestion, routes and freight rates, according to an executive at logistics conglomerate DP World. Andrew Hoad told the Bureau of International Recycling's (BIR) annual convention that shipping and leasing companies opte...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 2 after a rise in demand led to mills struggling to keep up, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,614-1,638) per tonne on June 2, up from ?,?1,250-1,320 per tonne on May 26.Hollow section producers had less material to offer cust...Read More
China's domestic rebar prices on Wednesday June 2 recovered most of the losses from a day earlier amid costlier raw materials such as iron ore and coke. DomesticEastern China (Shanghai): 5,000-5,020 yuan ($784-787) per tonne, up by 100 yuan per tonne Rising prices for steelmaking raw materials are making rebar mills lose money, an industry analyst said.Fastmarkets' index for iron ore 62% Fe fines,...Read More
The chaos being experienced in the global container shipping industry is expected to continue for some time with a shortage of an estimated four million boxes creating havoc with congestion, routes and freight rates, according to an executive at logistics conglomerate DP World. Andrew Hoad told the Bureau of International Recycling's (BIR) annual convention that shipping and leasing companies opte...Read More
Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.Market participants did not expect any price decreases, though. Steel prices in China did decrease from April until May 27, but they then started to rise again.Hot-rolled coil export pric...Read More
Domestic prices for European heavy steel plate were unchanged over the week to Wednesday June 2, due to holidays in a number of EU countries, sources have told Fastmarkets.Sentiment in the market remained positive, however, and demand was expected to recover next week, market sources said."Demand is fine. I think we will see it improving further due to [the emergence of new] projects and long-term...Read More