There may be significant swings in the prices and trade flows in the steelmaking raw materials market if the Covid-19 situation in India continues to worsen, sources told Fastmarkets.India has had a record-breaking number of Covid-19 cases in recent weeks - breaching the 300,000 mark several times over the week to April 27 - while vaccinations fail to stem the tide of infections.Higher pellet pric...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 28 that are worth another look.Latin American steelmaker Ternium plans to focus mainly on supplying its own slab needs in Mexico and selling any excess to the domestic market via its slab mill in Brazil, chief executive officer M??ximo Vedoya said on...Read More
Strong interest in imports of steel billet among Chinese customers supported a further uptick in the CIS export billet price in the week to Wednesday April 28.A cargo of around 40,000 tonnes of Ukraine-origin billet was reported sold to China at $655-660 per tonne cfr early this week, Fastmarkets heard. Market participants said that the price would be equivalent to $605 per tonne fob Black Sea.Bul...Read More
Steel billet producers in Iran achieved higher prices in deals with traders in the week to Wednesday April 28, supported by rising prices in Asia.Two cargoes of 30,000 tonnes each were reported sold by two mills at $599 per tonne fob Southern ports of Iran.This price was up by $8 per tonne from $591 per tonne achieved by Iranian sellers a week earlier.One of the county's major billet exporters had...Read More
The markets for high- and low-carbon ferro-chrome in Europe softened in the week ended Tuesday April 27 following weakening in the markets in Asia, particularly China.Fastmarkets' price assessment for ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $1.87-2.36 per lb Cr on April 27, a fall of 4-26 cents per lb Cr (6.6%) from $2.13-2.40 per lb Cr on March 30.There was a big fall at t...Read More
China will reduce the export rebate rates for some steel products from May 1, the Ministry of Finance said on Wednesday April 28.Steel products with HS codes 7205-7307 will be affected, which includes hot-rolled coil, rebar, wire rod, hot rolled and cold-rolled sheet, plate, H beams and stainless steel, the ministry said.Market chatter about the cancellation of steel export rebate rates have...Read More
Prices for steel hollow sections in Europe narrowed upward on Wednesday April 28 with production costs continuing to soar, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,070-1,120 ($1,292-1,353) per tonne on April 28, narrowing upward from ?,?1,050-1,120 per tonne on April 21."There is no sense in anything. The...Read More
Domestic prices for flat-rolled steel in the United States are expected to remain high throughout the second quarter, but decrease slightly in the third and fourth quarters, although not significantly, Ternium chief executive officer M??ximo Vedoya said on Wednesday April 28.The executive said demand in the US was strong, and he doesn't expect any material improvement on the supply side this year....Read More
China will reduce the export rebate rates for some steel products from May 1, the Ministry of Finance said on Wednesday April 28.Steel products with HS codes 7205-7307 will be affected, which includes hot-rolled coil, rebar, wire rod, hot rolled and cold-rolled sheet, plate, H beams and stainless steel, the ministry said.Market chatter about the cancellation of steel export rebate rates have...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 28 that are worth another look.Latin American steelmaker Ternium plans to focus mainly on supplying its own slab needs in Mexico and selling any excess to the domestic market via its slab mill in Brazil, chief executive officer M??ximo Vedoya said on...Read More
Domestic prices for flat-rolled steel in the United States are expected to remain high throughout the second quarter, but decrease slightly in the third and fourth quarters, although not significantly, Ternium chief executive officer M??ximo Vedoya said on Wednesday April 28.The executive said demand in the US was strong, and he doesn't expect any material improvement on the supply side this year....Read More
The markets for high- and low-carbon ferro-chrome in Europe softened in the week ended Tuesday April 27 following weakening in the markets in Asia, particularly China.Fastmarkets' price assessment for ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $1.87-2.36 per lb Cr on April 27, a fall of 4-26 cents per lb Cr (6.6%) from $2.13-2.40 per lb Cr on March 30.There was a big fall at t...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 28 that are worth another look.Latin American steelmaker Ternium plans to focus mainly on supplying its own slab needs in Mexico and selling any excess to the domestic market via its slab mill in Brazil, chief executive officer M??ximo Vedoya said on...Read More
There may be significant swings in the prices and trade flows in the steelmaking raw materials market if the Covid-19 situation in India continues to worsen, sources told Fastmarkets.India has had a record-breaking number of Covid-19 cases in recent weeks - breaching the 300,000 mark several times over the week to April 27 - while vaccinations fail to stem the tide of infections.Higher pellet pric...Read More
The Malaysian Smelting Corp (MSC) will only return to pre-pandemic smelting levels at the end of the year and will restrict its ore intake "both in respect of quantity and quality" in the coming months due to the Covid-19 pandemic, the company told suppliers this week.In a note to suppliers sent on Monday April 26, MSC said that the pandemic had "severely affected" its smelting capacity and that i...Read More
Seaborne coking coal prices in the fob and cfr markets diverged on Wednesday April 28, with tight supply in the cfr market, especially for premium hard coking coal materials.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.21 per tonne, down by $1.25 per tonnePremium hard coking coal, cfr Jingtang: $225.00 per tonne, up by $2.28 per tonneHard coking coal, fob DBCT: $104.62 per tonne, do...Read More
Chinese copper smelters with tolling licenses have begun to export copper cathodes due to the emergence of an export arbitrage window between London and Shanghai, sources told Fastmarkets.The arbitrage window started to become viable in the latter part of last week, with the copper price on the London Metal Exchange strongly outperforming its counterpart on the Shanghai Futures Exchange. The LME t...Read More
Domestic prices for European heavy steel plate increased further in the week to Wednesday April 28, supported by stronger demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?875-900 ($1,057-1,087) per tonne on April 28, up by ?,?35-50 per tonne from ?,?840-850 per tonne a week earlier.The assessment was based on transa...Read More
Domestic prices for hot-rolled coil in Europe increased again on Wednesday April 28, due to the continuing shortage of materials and strong demand, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?987.50 ($1,192.64) per tonne on Wednesday, up by ?,?14.17 per tonne from ?,?973.33 per tonne on Tuesday.The index was also up by...Read More