European hot-rolled coil producers have been resisting buyers' attempts to achieve lower prices, sources told Fastmarkets on Friday February 7.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?471.67 ($518.40) per tonne on Friday February 7, up by ?,?1.49 per tonne day on day from ?,?470.18 per tonne a day earlier.Buyers bid for the material at ?,?460-465 p...Read More
Prices for imports of commercial-grade hot-rolled coil into India have dropped by $35 per tonne in the past week after Japan-origin coils were offered to Indian importers at $490-495 per tonne cfr Chennai port.Fastmarkets' price assessment for steel HRC, import, cfr main port India, on Friday January 7 was $490-495 per tonne, down from last week's assessment at $525-530 per tonne.But importers hav...Read More
Hot-rolled coil prices in Turkey fell in the week to Friday February 7, with demand still limited because buyers were waiting for some clear direction before placing orders.Scrap prices also continued to fall, with Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was $252 per tonne on February 6, down from $263.54 per tonne on January 31.HRC export...Read More
China's domestic rebar prices remained unchanged on Friday February 7 amid weak trading despite an expected rise in construction activity from next week.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMany construction projects in Shanghai are scheduled to resume work next week, though a few of them have put o...Read More
Prices in Southeast Asia's steel billet market have tumbled over the past week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure. Market participants are concerned that any revoked transactions could result in low-priced material being offered to Southeast Asia, placing pressure on regional billet prices. Billet suppliers affected in...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction:Rebar East China, domestic, grade III...Read More
The inter-merchant spot market for light iron scrap in the UK dropped by 11.1% in the week ended Friday February 7, with domestic prices broadly reflecting similar moves in the European export markets to Turkey and the Indian subcontinent over the same period, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More
The price of austenitic stainless steel scrap in the UK domestic market widened upwards on slightly firmer nickel costs, sources told Fastmarkets on Friday February 7. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?750-790 ($972-1,024) per tonne on Friday, up...Read More
Turkish steel producers continued to book deep-sea scrap cargoes at the end of the week to replenish their low stock levels, sources said on Friday February 7.A steel mill in the Iskenderun region booked a US cargo at $260 per tonne cfr for HMS 1&2 (80:20), although the cargo breakdown was not clear at the time of publication.This compares with a previous US cargo sold at a similar price on Thursd...Read More
Brazilian slab export prices widened upward slightly in the week ended Friday February 7, with the first negotiations for April-shipment volumes taking place.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on February 7, up from $460-475 per tonne a week before.Producers were expected to focus on the North American market for April shipment...Read More
China's domestic rebar prices remained unchanged on Friday February 7 amid weak trading despite an expected rise in construction activity from next week.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedMany construction projects in Shanghai are scheduled to resume work next week, though a few of them have put o...Read More
Prices in Southeast Asia's steel billet market have tumbled over the past week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure. Market participants are concerned that any revoked transactions could result in low-priced material being offered to Southeast Asia, placing pressure on regional billet prices. Billet suppliers affected in...Read More
Key data from the pricing sessions in Europe, the United States and Asia for the week ending Friday February 7. China Coronavirus-related raw material supply disruptions and road transport restrictions pushed up domestic price. Tightened road transport measures made it hard to find trucks to deliver alloy from smelters to stainless steel mills, sources said. Trading activity in U...Read More
The price of stainless steel in the European domestic market remained unchanged this week, despite weak demand, sources told Fastmarkets on Friday February 7. Many market participants expect prices to fall in March because of recent weakness in the nickel market (despite nickel prices actually moving up slightly this week). But this expectation...Read More
Outokumpu chief executive officer and president Roeland Baan will step down in May, the Finnish stainless steelmaker said on Friday February 7.He will continue in his role as the company's ceo until May 15, 2020. His successor has not yet been named by the company.Baan joined Outokumpu in January 2016....Read More
Market participants in the Philippines do not expect the domestic long steel market to face shortages, despite the country's Department of Trade and Industry (DTI) suspending six steelmakers' Philippine Standard (PS) licenses.Products from the six mills failed to meet the requirements listed in the Philippine National Standard (PNS) 49, Series of 2002, during a test the DTI's Bureau of Philippine...Read More
Australia's Port of Dampier in Western Australia state is being shut down at noon local time on Friday February 7 in preparation for a potential impact from a tropical cyclone that is expected to intensify during the day.The Pilbara Ports Authority (PPA) said during the day that its cyclone response procedure has been activated and with it, the Port of Dampier will be shut down, having already bee...Read More
Brazilian slab export prices widened upward slightly in the week ended Friday February 7, with the first negotiations for April-shipment volumes taking place.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil, was $460-480 per tonne on February 7, up from $460-475 per tonne a week before.Producers were expected to focus on the North American market for April shipment...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 7.China The seaborne price of low-grade manganese ore rose after buyers accepted higher offers for March-delivery cargoes.Higher alloy and portside ore prices also supported the high- and low-grade seaborne markets.Hebei Steel, China's second-largest steel mill - raised its tender price...Read More