Concerns that China-United States trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampened sentiment in the metals.That said, US equities went on to brush off the news with markets closing at record highs again on Friday November 8. Gold prices break below support as US...Read More
The downtrend in the market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has continued, under pressure from low end-user demand, sources told Fastmarkets on Monday November 11.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-41,000 roubles ($619-642) per tonne on November 11, including 20% VAT...Read More
The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States has improved on a bullish mood among suppliers, which preferred to step back from the market rather than to continue sales at low prices, sources told Fastmarkets on Monday November 11.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $375-385 per tonne on November 11, up fr...Read More
Producers of hot-rolled coil in Northern Europe have been holding back from offering material amid low prices, sources told Fastmarkets on Monday November 11.This break in trading will support domestic prices which have finally stabilized after several months of decreases, the sources said."I think mills will prefer to wait before making new offers, until buyers become hungry for orders," one Euro...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
Special bar quality (SBQ) steel prices in the United States moved sideways across cold-finished and hot-rolled grades this month despite higher ferrous scrap prices due to reports of discounting and overall weak demand.Fastmarkets' price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US stood at $34 per hundredweight ($680 per ton) on Frid...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
Fastmarkets has corrected its daily index for steel billet exports, fob Black Sea, which was published incorrectly on Monday November 11 due to a reporter error.The daily steel billet index, export, fob Black Sea, CIS, was wrongly published as $380 per tonne on Monday. It should have been $373 per tonne.Fastmarkets' price book and database have been updated to reflect this correction.For more info...Read More
Prices in the CIS export slab market picked up in the week to Monday November 11, supported by increased demand in Turkey and China as well as a stronger finished flat steel sector both domestically and in some of customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $340-360 per tonne on November 11, up by $5-15 per tonne.Early last week, several...Read More
Some rebar producers in Egypt increased their rebar prices with effect from Monday November 11, Fastmarkets has learnt.The country's biggest producer, Ezz Steel, is now offering rebar at E ?10,370 ($641) per tonne ex-works, up from the previous E ?9,900 per tonne ex-works, including 14% VAT.And the rebar price from Misr Steel is now E ?10,000...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
China is looking to take on the world's top steelmaker, ArcelorMittal, with a share transfer between Shougang and Baowu Steel.Northern China's Shougang Group is transferring 15% of its share in the listed unit of the same name to Baowu Steel without any charge, according to a company notice last Friday November 8. This takes Baowu Steel - China's biggest mill and second globally only to ArcelorMit...Read More
Fastmarkets has corrected its daily index for steel billet exports, fob Black Sea, which was published incorrectly on Monday November 11 due to a reporter error.The daily steel billet index, export, fob Black Sea, CIS, was wrongly published as $380 per tonne on Monday. It should have been $373 per tonne.Fastmarkets' price book and database have been updated to reflect this correction.For more info...Read More
Prices in the CIS export slab market picked up in the week to Monday November 11, supported by increased demand in Turkey and China as well as a stronger finished flat steel sector both domestically and in some of customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $340-360 per tonne on November 11, up by $5-15 per tonne.Early last week, several...Read More
The downtrend in the market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has continued, under pressure from low end-user demand, sources told Fastmarkets on Monday November 11.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-41,000 roubles ($619-642) per tonne on November 11, including 20% VAT...Read More
The three-month nickel price on the London Metal Exchange continued to fall over the course of Monday November 11 to end the day's trading down by just under 4% against high turnover, while the rest of the complex similarly closed lower. The nickel futures price closed at $15,565 per tonne on Monday afternoon, its lowest 5pm closing price since August 7. Turnover in nickel was high over the day wi...Read More
David Becker5 hours ago (Nov 11, 2019 8:10 PM GMT)Gold prices edged lower on Monday, and showed little energy to bounce following a sharp drop on Friday. US yields also remain elevated following a surge on Friday and the dollar consolidated its recent gains. The strong showing in US yields put downward pressure on the greenback, and weaker than expected data in the UK did little to help ease deman...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More