Indian domestic secondary billet prices have increased by at least 500 rupees ($7) per tonne over the past week, mainly on rising prices for finished products such as rebar, Fastmarkets heard on Friday February 15.The Indian domestic secondary billet price assessed by Fastmarkets on February 15 was 34,300-34,500 rupees ($483-486) per tonne ex-mill, up by 500 rupees per tonne compared with 33,800-3...Read More
China's domestic rebar prices maintained their downward trend on Friday February 15 amid little market activity. Domestic Eastern China (Shanghai): 3,700-3,750 yuan ($546-554) per tonne, down 30-50 yuan per tonneNorthern China (Beijing): 3,790-3,830 yuan per tonne, widened down 10 yuan per tonneLosses in the futures market led to bearish sentiment on the spot market. Buyers cut...Read More
The price of austenitic alloy steel scrap imported into Europe decreased on Friday February 15 because of lower nickel prices, Fastmarkets has heard.The price of 18/8 steel scrap solids imports was assessed on Friday at ?,?1,000-1,040 ($1,128-1,173) per tonne cif, narrowing downward by ?,?10 per tonne.The modest scale of the price change was related to the fact that nickel prices only began decrea...Read More
Pig iron buyers in the United States have resumed purchases at higher prices, Fastmarkets learned on Friday February 15.Fastmarkets' import price assessment for pig iron in the US was at $355-360 per tonne cfr on Friday February 15, narrowing upward by $5 per tonne week on week.One deal for pig iron from the Commonwealth of Independent States was heard around $355 per tonne cfr early in the w...Read More
Domestic prices for ferrous scrap in Italy moved up in February following the positive trend settled in the international scrap markets, sources told Fastmarkets on Friday February 15.Fastmarkets' monthly price assessment for domestic grade E3 scrap in Italy was ?,?270-290 ($306-327) per tonne delivered on Friday February 15, compared with ?,?260-280 per tonne delivered in January."The upward tren...Read More
Indian domestic secondary billet prices have increased by at least 500 rupees ($7) per tonne over the past week, mainly on rising prices for finished products such as rebar, Fastmarkets heard on Friday February 15.The Indian domestic secondary billet price assessed by Fastmarkets on February 15 was 34,300-34,500 rupees ($483-486) per tonne ex-mill, up by 500 rupees per tonne compared with 33,800-3...Read More
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More
Merchant slab output at Ukraininan steelmaker Metinvest in the December-February period was below the production target due to repairs at the blast furnaces of Azovstal Iron & Steel Works and Illych Iron & Steel works, the company told Fastmarkets."The company's merchant slab output was 190,000 tonnes below the target because blast furnace repairs were rescheduled for these months," a company sour...Read More
Steel alloy surcharges in the European stainless steel market were widely expected to increase sharply for March because of recent rises in the price of nickel, Fastmarkets heard on Friday February 15.Alloy surcharges for March will be calculated based on alloy component costs between January 20 and February 20. That period has not yet finished, but from January 20 until February 15 nickel prices...Read More
The number of new passenger car registrations in the EU decreased by 4.62% year-on-year in January 2019, making it the fifth consecutive month of decline, the European Automotive Manufacturers Assn (ACEA) said on Friday February 15.New car sales in Europe totaled 1,195,665 units in January 2019, compared with 1,253,596 vehicles sold in the corresponding month of 2018."The European passenger car ma...Read More
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More
Detailed data for Chinese trade is still not available, but there are indications that the East Asian country may have become the biggest importer of pig iron in Asia last year, according to Fastmarkets' research team.We pointed out in June last year that the Chinese import pig iron market might revive to fill the widening gap between iron and steel production in China, alongside ferrous scrap.Hon...Read More
The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United States is having some interesting consequences.Notably, in the event of a national security issue - which Section 232 was designed to address - the United States would theoretically rely on Japan for its steel and Saudi Arabia for its aluminium.Those countries have been granted the highest volume o...Read More
Steel alloy surcharges in the European stainless steel market were widely expected to increase sharply for March because of recent rises in the price of nickel, Fastmarkets heard on Friday February 15.Alloy surcharges for March will be calculated based on alloy component costs between January 20 and February 20. That period has not yet finished, but from January 20 until February 15 nickel prices...Read More
Domestic prices for rebar in Poland have increased over the past week due to higher ferrous scrap costs, sources told Fastmarkets on Friday February 15.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,200-2,310 zloty ($572-601) per tonne ex-works on February 15, up from 2,180-2,250 zloty per tonne ex-works a week earlier. The assessment reflected deals and offers f...Read More
The price of austenitic alloy steel scrap imported into Europe decreased on Friday February 15 because of lower nickel prices, Fastmarkets has heard.The price of 18/8 steel scrap solids imports was assessed on Friday at ?,?1,000-1,040 ($1,128-1,173) per tonne cif, narrowing downward by ?,?10 per tonne.The modest scale of the price change was related to the fact that nickel prices only began decrea...Read More
Pig iron buyers in the United States have resumed purchases at higher prices, Fastmarkets learned on Friday February 15.Fastmarkets' import price assessment for pig iron in the US was at $355-360 per tonne cfr on Friday February 15, narrowing upward by $5 per tonne week on week.One deal for pig iron from the Commonwealth of Independent States was heard around $355 per tonne cfr early in the w...Read More
Base metals prices on the London Metal Exchange were higher across the board at the close of trading on Friday February 15, with market sentiment continuing to improve amid US-China trade talks, while participants continue to short-cover after last week's price rally. Climbing furthest over the afternoon, zinc futures closed above $2,600 per tonne and continued to trade in a volatile trend after s...Read More
Comex copper prices turned positive on Friday morning in the United States with improving trade talk optimism boosting the entire base metals space.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rebounded 0.80 cents to $2.7820 per lb."We expect the global refined copper market to become tighter...Read More
The London Metal Exchange's linked load-in/load-out (LILO) warehouse rule has not so far been activated at Istim's warehouses in Port Klang despite a large queue building at the warehouse, sources confirmed to Fastmarkets MB. An LME queue report published on February 11 stated there was a 118-day queue to withdraw aluminium at Istim warehouses in Port Klang, Malaysia, at the end of January. This c...Read More