Prices for coated steel products in Turkey decreased in the seven days to Friday March 15, with demand weak in both the domestic and export markets.Sources told Fastmarkets that demand is unlikely to improve in March because of market uncertainty ahead of the mayoral elections being held across the country on the last day of the month.The export market was also poor because of weak deman...Read More
Some steel coil prices in Turkey decreased again in the week ended Friday March 15, with buying activity remaining subdued.The market was unlikely to improve in March because of the uncertainty in the build-up to Turkey's mayoral elections to be held across the country on the last day of the month, sources told Fastmarkets. Market participants want to wait and see if end-user demand revives after...Read More
China's domestic hot-rolled coil prices moved down on Friday March 15 due to inactivity and declining futures following the announcement of cuts to the country's value-added tax. DomesticEastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 40 yuan per tonneNorthern China (Tianjin): 3,750-3,770 yuan per tonne, down 10 yuan per tonneTrading activity was lower than that on Thursday w...Read More
Fastmarkets has discontinued its weekly assessments of the Latin America rebar export price, which was reported on a dollar per tonne fob main port basis, with effect from Friday March 15.After a consultation period lasting two months, Fastmarkets has discontinued its weekly assessments after receiving feedback that there was now limited spot liquidity in the market for this material, with most vo...Read More
Import tariffs on steel products in the United States created under Section 232 are likely to remain in place at least until the end of 2019, the chief executive officer of Gerdau, Gustavo Werneck, said during an event at the New York Stock Exchange on Wednesday March 13.The move from Donald Trump's administration boosted metal spread margins for steel producers in the US. This spread - calculated...Read More
Domestic prices for rebar in Poland have been stable over the past week, supported by strong demand, sources told Fastmarkets on Friday March 15.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,200-2,320 zloty ($578-610) per tonne ex-works on March 15, unchanged over the week.The assessment reflected deals and offers heard in the market. Polish steelmakers have bee...Read More
Global scrap prices mostly trended upward during the working week from Monday March 11 to Friday March 15, with the exception of prices in Turkey, where lackluster sales of finished steel products limited buying activity during the week. Lackluster finished steel sales in Turkey limit scrap buying US export prices up on bulk sale to Turkey Northern Vietnam mills still hungry for scrap Mixed sentim...Read More
Brazilian pig iron exporters were bullish this week because of long lead times for material from the south of the country, and resumed sales to the United States from the north of Brazil, Fastmarkets learnt during the week ended Friday March 15.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region was $336-340 per tonne fob on March 15, up from $334-33...Read More
UK prices for alloy steel scrap moved up slightly over the past week despite higher costs for nickel, sources told Fastmarkets on Friday March 15.Fastmarkets' weekly price assessment for domestic UK 18/8 stainless steel scrap solids was ?840-880 ($1,113-1,266) per tonne delivered on March 15. This was up from ?830-870 per tonne delivered a week earlier, reflecting transactions heard in the...Read More
Indian domestic secondary billet prices have fallen by 900 rupees ($13) per tonne this week with demand for both semi-finished and finished long steel products remaining subdued and inquiries limited.The price for Indian domestic secondary billet, assessed by Fastmarkets on Friday March 15, was 31,300-31,500 rupees ($450-453) per tonne ex-mill. This was down by 900 rupees per tonne compared with l...Read More
Participants in China's rebar market reacted differently to the impending reduction of value-added tax in the country, resulting in a widening of domestic prices on Friday March 15.Domestic Eastern China (Shanghai): 3,800-3,860 yuan ($565-574) per tonne, widened by 10 yuan per tonne on both ends Northern China (Beijing): 3,790-3,850 yuan per tonne, widened upward by 20 yuan per tonneChina's value-...Read More
Import tariffs on steel products in the United States created under Section 232 are likely to remain in place at least until the end of 2019, the chief executive officer of Gerdau, Gustavo Werneck, said during an event at the New York Stock Exchange on Wednesday March 13.The move from Donald Trump's administration boosted metal spread margins for steel producers in the US. This spread - calculated...Read More
Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More
Chinese finished steel exports decreased in February on both a yearly and a month-on-month basis amid uncompetitive prices and fewer working days as a result of the Chinese Lunar New Year holiday.The country shipped 4.51 million tonnes of finished steel out of the country last month, down 7% from the 4.85 million tonnes exported in February 2018, according to preliminary Chinese customs data...Read More
Aluminium billet premiums in Europe and the United States moved lower on Friday March 15 due to continued weak demand, and the market remained quiet elsewhere. Italian premium drops 4.5%. Long term contracts dominate Brazilian market. US spot market remains quiet. Asia yet to see Russian units. Aluminium billet in Germany continues slide; premiums down throughout EuropePoor fundamentals and b...Read More
Global scrap prices mostly trended upward during the working week from Monday March 11 to Friday March 15, with the exception of prices in Turkey, where lackluster sales of finished steel products limited buying activity during the week. Lackluster finished steel sales in Turkey limit scrap buying US export prices up on bulk sale to Turkey Northern Vietnam mills still hungry for scrap Mixed sentim...Read More
Brazilian pig iron exporters were bullish this week because of long lead times for material from the south of the country, and resumed sales to the United States from the north of Brazil, Fastmarkets learnt during the week ended Friday March 15.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region was $336-340 per tonne fob on March 15, up from $334-33...Read More
Copper continues to capitalize on the narrowing $0.75 per tonne cash-to-March spread contango, while the three-month contract rises to $6,430 per tonne, up $26 per tonne from the $6,404-per-tonne close on March 14.The three-month copper price seems to be ignoring the significant influx of material into Asian LME warehouses on March 15, with 18,905 lots of material traded during the day's session.N...Read More
When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More