Export prices for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States fell again despite expectations that prices had bottomed, sources told Fastmarkets on Tuesday October 15.Fastmarkets' price assessment for steel HRC export, fob Black Sea, CIS was $380-395 per tonne on October 15, down from $400-410 per tonne a week earlier."Scrap prices stopped falling and buye...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia fell this week on limited demand, sources told Fastmarkets on Tuesday October 15. Buyers were reluctant about booking large tonnages because of falling prices as well as weak end-user demand, they said. UAE Offer prices for hot-rolled coil (HRC) from China were heard in the UAE at $450-460 per tonne cfr this week, with...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
Import prices for steel billet and rebar in the United Arab Emirates narrowed over the past week, with domestic rebar prices falling due to a lack of demand, sources said on Tuesday October 15. New domestic prices for rebar for the month were announced by the country's producers on September 26. Both Emirates Steel and Conares reduced their prices. Billet imports Billet bookings were made from Oma...Read More
Eastern China's rebar prices dropped on Tuesday October 15 due to subdued demand and weakening futures, while those in the north held steady. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($519-523) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,570-3,600 yuan per tonne, unchangedSome traders stopped restocking due to narrowing margins. This, coupled with weak futures, weighed...Read More
Turkish steelmakers have paused their deep-sea scrap purchases following the news that the United States government will double its Section 232 tariffs on the country, sources said on Tuesday October 15.Late on Monday October 14, US President Donald Trump said he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria."The steel...Read More
Seaborne iron ore prices strengthened on Tuesday October 15 thanks to gains in the derivatives markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93 per tonne, up by $1.51 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.04 per tonne, up by $0.01 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.60 per tonne, up by $1.43 per tonne.58% Fe fines high-premium, cfr Qingdao: $80.9...Read More
Steelmakers in Germany have settled their monthly scrap contracts for October with an average month-on-month fall of ?,?30 ($33) per tonne, sources told Fastmarkets this week.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap) domestic, delivered mill Germany, was ?,?225-235 ($215-226) per tonne in the middle of October, down by ?,?30 per tonne from ?,?225-235 per t...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
CIS billet producers raised their export offer prices this week due to reduced availability and in response to rising scrap costs.The move came in response to last week's rise in imported scrap prices in Turkey, with billet harder to source in the absence of some Ukrainian mills.Some Russian producers also reported that they had filled their November order books last week and h...Read More
Eastern China's rebar prices dropped on Tuesday October 15 due to subdued demand and weakening futures, while those in the north held steady. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($519-523) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,570-3,600 yuan per tonne, unchangedSome traders stopped restocking due to narrowing margins. This, coupled with weak futures, weighed...Read More
China's ferro-silicon market has been stable since participants returned from a week-long national holiday in the country on October 1-7, with prices hemmed between tighter supply amid production cuts and weaker demand.In Europe, prices increased for the first time since the start of August amid supply worries after a recent announcement of cuts to domestic production combined with low trader stoc...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
As the United States' Section 232 tariffs on steel imports enter the second half of their second year, ferrous markets across the globe are still reeling from their effects.The tariffs - imposed after a year-long Section 232 investigation into whether imports of steel, as well as aluminium, posed a national security risk to the US - were vaunted as policies to safeguard the country's domestic indu...Read More
Tom Bird, the head of Bureau of International Recycling (BIR), will leave his position as the chief operating officer of Chiho Environmental Group in November, Fastmarkets learned on Sunday October 13.Chiho Environmental is China's largest scrap metal recycling company. It runs 700 yards globally with extensive operations in the recycling of ferrous...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
Export prices for hot-rolled coil and cold-rolled coil from the Commonwealth of Independent States fell again despite expectations that prices had bottomed, sources told Fastmarkets on Tuesday October 15.Fastmarkets' price assessment for steel HRC export, fob Black Sea, CIS was $380-395 per tonne on October 15, down from $400-410 per tonne a week earlier."Scrap prices stopped falling and buye...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 15.Please click...Read More
Nickel rallied on the London Metal Exchange on Tuesday, with the market seeing the continued decline in exchange stocks as price-supportive, although it failed to close above resistance at $17,000.The three-month nickel price rose 2.6% to close at $16,995 per tonne on Tuesday October 15 from the previous day's closing price of $16,550 per tonne. Still, it t closed below the psychologically signifi...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday October 15 that are worth another look.China's sustained presence as a buyer in Southeast Asia's spot billet market has been boosting prices in the region, sources told Fastmarkets.An oversupply of manganese ore weighed on seaborne manganese ore prices cif China, causing some producers to make multiple lower offers to attra...Read More