The domestic price for hot-rolled coil in Northern Europe was fairly stable day on day on Tuesday March 3, sources told Fastmarkets.But in the south of the region, Italian mills were targeting price increases which were likely to get support from a pickup in demand.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.53 ($537.97) per tonne on Tuesday, down...Read More
The export market for flat steel exporters from the Commonwealth of Independent States (CIS) was quiet during the week ended Monday March 2 because of the limited volumes that suppliers could offer for exports.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $465-475 per tonne on Monday, unchanged week on week."MMK [Magnitogorsk Iron & Steel Works] sa...Read More
Most flat steel import prices in the United Arab Emirates and Saudi Arabia have decreased this week, with the market being slow because buyers wanted to see prices reach a bottom before placing any orders, sources told Fastmarkets on Tuesday March 3.Stock levels were low in the region, but buyers did not want to place orders when prices were falling.UAEOffer prices for hot-rolled coil (HRC) from C...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 3 that are worth another look.Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on March 3.Copper concentrate treatment and refining charges (TC/RCs) rose at the end of February, having stalled in the previous week.Brazil's iron o...Read More
Prices in the CIS export market for rebar and wire rod slipped in the week to Monday March 2 on a lack of trading activity or supportive market factors.Fastmarkets' price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS, was $420-425 per tonne on March 2, narrowing downward by $20 per tonne week on week.Offers of Ukraine-origin rebar were reported within the range of $420-4...Read More
Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on Tuesday March 3.The deal is expected to be done at ?50 million ($55.51 million), the union said."We look forward to working with Jingye as they bring forward the ?1.2...Read More
Ferrous scrap prices in Mexico edged down for five grades, while five other grades were stable, amid adjustments applied by some buyers in the week ended Friday February 28.At least one buyer in Mexico was heard applying a 200-pesos ($10.18) price cut late last week, because of a comfortable level of inventories, sources told Fastmarkets.Fastmarkets' weekly assessment for steel scrap No1 heavy mel...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on Tuesday March 3, amid firm offer prices (especially from the United States), sources told Fastmarkets.After buying at least 25 cargoes of about 750,000 tonnes in February, the mills halted purchasing activity at the beginning of last week.The most recent deep-sea transactions had put the price of Baltic Sea- and...Read More
Brazil's iron ore exports plunged year on year in February, while heavy rains in the southeastern region adversely affected production and transportation, higher average prices also partly offset the drop, the country's ministry of economy said on Monday March 2.Iron ore shipments from Brazil totaled 22.1 million tonnes over February, falling by 23.6% in comparison with 28.93 million tonnes in Feb...Read More
Import prices for steel slab in Southeast Asia and East Asia were stable over the week to Monday March 2 amid concerns about the rapid spread of the coronavirus (2019-nCoV) outside of China. Fastmarkets' price assessment for steel slab imports, cfr Southeast Asia and East Asia was $425-435 per tonne on Monday March 2, unchanged week on week.During the week, steel slab produced in the Commonwealth...Read More
China's rebar prices bounced back on Tuesday March 3 in both the domestic and export markets amid optimism for a strengthening of demand in the local market.Eastern China (Shanghai): 3,400-3,440 yuan ($488-494) per tonne, up 40-50 yuan per tonne Northern China (Beijing): 3,300-3,330 yuan per tonne, up 40 yuan per tonneRebar futures had a bullish start to the day, rising to as high as 3,466 yuan pe...Read More
A buildup of manganese ore at Chinese ports is set to escalate in the coming weeks when a jump in fresh imports adds to a spillover of material into minor ports, manganese market sources predict. Manganese ore stocks in main Chinese ports stand at 4.64-4.85 million tonnes according to Fastmarkets' latest assessment on Monday March 2, compared with 4.52-4.64 million tonnes at the end of 2019....Read More
Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on Tuesday March 3.The deal is expected to be done at ?50 million ($55.51 million), the union said."We look forward to working with Jingye as they bring forward the ?1.2...Read More
Brazil's iron ore exports plunged year on year in February, while heavy rains in the southeastern region adversely affected production and transportation, higher average prices also partly offset the drop, the country's ministry of economy said on Monday March 2.Iron ore shipments from Brazil totaled 22.1 million tonnes over February, falling by 23.6% in comparison with 28.93 million tonnes in Feb...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 3 that are worth another look.Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on March 3.Copper concentrate treatment and refining charges (TC/RCs) rose at the end of February, having stalled in the previous week.Brazil's iron o...Read More
The US Midwest aluminium premium fell in the week ended Tuesday March 3 to its lowest since February 2018, but other global premiums remained well supported by the contango in nearby spreads on the London Metal Exchange.Canadian rail situation resolvedEyes on April-May spreads in RotterdamMJP second-quarter negotiations begin.US Midwest premium at 2-year lowIn the United States, the Midwest alumin...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 3.Click on...Read More
Germanium demand has surged thanks to its use in infrared thermometers for fever screening which have been installed at airports, railway stations, long-distance bus stations and ferry terminals across China as part of measures to control the spread of the novel coronavirus (2019-nCoV).Infrared optics, including heat detectors, account for about 30% of total demand for germanium, according to data...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 3 that are worth another look.Chinese steel company Hebei Jingye Group will complete the acquisition of British Steel on Monday March 9, the UK steel trade union Community said on March 3.Copper concentrate treatment and refining charges (TC/RCs) rose at the end of February, having stalled in the previous week.Brazil's iron o...Read More
Interest rate cuts, introduced to stimulate global economies amid the spread of the novel coronavirus (2019-nCoV), have instead compounded market trepidation and are weighing heavily on London Metal Exchange base metals prices, which broadly closed down on Tuesday March 3. The United States Federal Reserve slashed its interest rate by 50 basis points to 0.5% on Tuesday, and while the uns...Read More