Steel beam prices in the domestic Northern European market have narrowed while prices in Southern Europe moved upward this week on higher offers and improved demand, sources told Fastmarkets on Wednesday March 6.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe narrowed by ?,?10 per tonne to ?,?610-635 ($690-719) per tonne delivered on Ma...Read More
European prices for mesh-quality wire rod stayed flat again across the continent in Fastmarkets' price assessments on Wednesday March 6, with levels of demand continuing to disappoint and with almost no business of significant volume reported in the first quarter of the year so far.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod for both Northern and Southern Europe stayed...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish their stock levels despite poor sales of finished and semi-finished steel products, sources said on Wednesday March 6.A steel mill in Northern Turkey booked a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20) at $319 per tonne, 11,000 tonnes of shredded at $324 per tonne and 9,000 tonnes of bonus at $329 per tonn...Read More
Iron ore prices were mixed on Wednesday March 6, with still-sluggish profitability among Chinese steelmakers giving few clues as to the future direction of the market.MB 62% Fe Iron Ore Index: $87.05 per tonne cfr Qingdao, up $0.02 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.45 per tonne cfr Qingdao, up $0.02 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.08 per tonne cfr Qingdao, do...Read More
The availability of a high-grade iron ore derivative has brought a "whole new dimension" to the market, with the development of a forward curve being a key benefit, Andrew Glass, head of ferrous trading at Anglo American, said last week at Fastmarkets MB's China Iron Ore conference in Beijing.The derivative contract provides additional measurement of what the 62% Fe iron ore and the 65% Fe iron or...Read More
Iranian export slab prices dropped in the week ended Wednesday March 6 with bookings done at lower values, Fastmarkets has heard, despite a positive mood in the CIS export slab market due to reduced availability of the material.Offers of Iranian slab were reported at $365-370 per tonne fob Iranian ports. And a 30,000-tonne cargo was sold to a customer in China at $360 per tonne fob, Fastmarkets ha...Read More
Demand for flat steel in Turkey failed to improve in February although prices increased, but no further price rises were expected, market participants told Fastmarkets on Wednesday March 6.Local producers have filled their order books until May, they added.The price rises in February resulted from increasing prices for raw materials after the rupture of a tailings dam at Vale's Feij??o iron ore mi...Read More
China's domestic rebar prices were mixed on Wednesday March 6, with prices in eastern China flat but those in the north down. Domestic Eastern China (Shanghai): 3,800-3,840 yuan ($567-573) per tonne, unchangedNorthern China (Beijing): 3,750-3,800 yuan per tonne, down 30-50 yuan per tonneFutures losses put spot rebar prices under pressure on Wednesday, although steady procurement rates by...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
China's largest steel mill, Hebei Steel, has cut its monthly purchase price for silico-manganese for the third consecutive time amid lower spot prices. The mill has offered to buy silico-manganese at 7,780 yuan ($1,160) per tonne for March delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China. The latest tender is about 120 yuan l...Read More
Import prices for stainless steel in East Asia increased over the past week, as the nickel uptrend prompted steelmakers in the region to raise their offers again.Fastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed cold-rolled coil in East Asia was $2,060-2,150 per tonne cif on Wednesday March 6, up $30-50 per tonne from a week earlier. Fastmarkets MB's weekly im...Read More
Prices for hollow steel sections in the domestic European market were largely stable on Wednesday March 6 but producer-led increases could take effect soon, market sources told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on Wednesday at ?,?630-650 ($713-736) per tonne delivered."Higher p...Read More
Steel beam prices in the domestic Northern European market have narrowed while prices in Southern Europe moved upward this week on higher offers and improved demand, sources told Fastmarkets on Wednesday March 6.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe narrowed by ?,?10 per tonne to ?,?610-635 ($690-719) per tonne delivered on Ma...Read More
Demand for flat steel in Turkey failed to improve in February although prices increased, but no further price rises were expected, market participants told Fastmarkets on Wednesday March 6.Local producers have filled their order books until May, they added.The price rises in February resulted from increasing prices for raw materials after the rupture of a tailings dam at Vale's Feij??o iron ore mi...Read More
Global zinc premiums have been little changed over the past week with a worsening Chinese import arbitrage distorting the marketplace for the world's largest base metals consumer, Fastmarkets heard on Wednesday March 6. European zinc premiums near October 2010 lowUS markets stable with lead and zinc demand healthyChinese markets suffering from arbitrage window. Northern European zinc premiums stay...Read More
An overview of the minor metals markets and the reasons for any price moves....Read More
Three-month zinc was the only metal price to trade in positive territory on the London Metal Exchange at the close of trading on Wednesday March 6.Prices for the rest of the base metals complex consolidated lower amid broad strength in the US dollar index, while renewed figures on the US trade deficit continued to underscore the slowdown in that country's economy.The three-month zinc price reached...Read More
Prices for hollow steel sections in the domestic European market were largely stable on Wednesday March 6 but producer-led increases could take effect soon, market sources told Fastmarkets.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on Wednesday at ?,?630-650 ($713-736) per tonne delivered."Higher p...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday March 6 that are worth another look.The availability of a high-grade iron ore derivative has brought a "whole new dimension" to the market, with the development of a forward curve being a key benefit, Andrew Glass, head of ferrous trading at Anglo American, said last week at Fastmarkets MB's China Iron Ore conference in B...Read More
Three-month zinc was the only metal price to trade in positive territory on the London Metal Exchange at the close of trading on Wednesday March 6.Prices for the rest of the base metals complex consolidated lower amid broad strength in the US dollar index, while renewed figures on the US trade deficit continued to underscore the slowdown in that country's economy.The three-month zinc price reached...Read More