The Thursday Market Minute Global stocks drift lower as investors adopt a cautious stance ahead of the Easter holiday break and prep for the redacted release of the Mueller Report into Russian election meddling later in the session.North Korea's renewal of weapons testing unnerves markets in Asia, while growth and trade concerns keep European stocks in the red amid lighter-than-usual trading vol...Read More
China's domestic battery-grade lithium spot market held steady week on week on Thursday April 18 on stable demand from downstream cathode producers, while rest-of-world prices continued to stagnate on weak spot consumption and ahead of the Easter holiday starting on Friday. Battery-grade lithium carbonate market stable week on week. Battery-grade lithium hydroxide prices level out after last...Read More
Key data from the Wednesday April 17 pricing session in Shanghai. Key driversChina's cobalt market was broadly stable on Wednesday following marginal upticks in international cobalt metal prices at the end of last week, which caused buyers to adopt a wait-and-see stance and thus stifled trading activity. Fastmarkets MB assessed the standard-grade cobalt price at $15.35-16.75 per lb on April 12, na...Read More
Cobalt prices continued their recovery on Wednesday April 17, although gains were more muted than in recent weeks as buyers assessed their restocking needs after recent price increases. Fastmarkets assessed standard-grade cobalt prices at $15.60-16.75 per lb, in-warehouse, on April 17, up from $15.35-16.75 per lb previously. Alloy-grade prices rose to $16.85-17.65 per lb, up 20 cents on...Read More
Prices for coated flat steel products in Turkey remained stable in the week ending Thursday April 18, with demand soft in the domestic market.Demand failed to improve because of the weak Turkish lira and the current economic uncertainty.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654 on March 1, according to exchange rate...Read More
Most prices for steel coil products in Turkey decreased again over the week to Thursday April 18, with buying activity remaining subdued.Demand in the local market was still soft because of the continuing weakness of the Turkish lira and the expectation that prices will fall further.The lira was trading at TRY100 to $17.3698 on April 18, compared with TRY100 to $17.4791 on April 12 and TRY 18.7654...Read More
China's domestic hot-rolled coil prices dipped on Thursday April 18, following a drop in the futures market, although export prices were little changed amid sparse trading.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($593-595) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, down 20 yuan per tonneTrading was thinner on Thursday than during the...Read More
Reinforcing steel bar prices have decreased in the United States due to downward pressure from falling raw material costs and some reports of slower market activity, market sources said. Fastmarkets AMM's price assessment for domestic rebar stood at $34.50-35.50 per hundredweight ($690-710 per short ton) fob mill on Wednesday April 17, down by 2.4% from $35.25-36.50 per cwt two weeks earlier. At t...Read More
The decision by the European Commission (EC) to suspend carbon emissions allowances issued by the UK government under the EU's Emissions Trading Scheme (ETS) is expected to remain valid until the UK is able to reach a deal with the EU on the country's exit from the union, Richard Warren, head of policy at industry body UK Steel, told Fastmarkets on Thursday April 18.Allowances issued by the UK wer...Read More
The Turkish rebar export price has weakened further in line with sluggish demand over the past week, while the export price for wire rod remained stable, sources said on Thursday April 18.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $475-480 per tonne fob on actual weight basis on April 18, down from $480-485 per tonne last week.Steel mills in the country were offering...Read More
Global ferrous scrap prices rebounded in the week to Thursday April 18 on returning demand from Turkish steel mills. Export prices on the United States' East Coast moved up as a result.But demand was limited in the key import market of Vietnam due to a mill stoppage, while Taiwanese steel mills remained well-stocked. Turkey demand returns US market picks up on East Coast Mill stoppage in Vietnam d...Read More
Austenitic alloy steel scrap prices in the UK increased in the week ended Thursday April 18 because of higher demand this month compared with the first quarter of the year, and despite lower nickel prices.Another supporting factor was the concessions given by stainless steel mills during April for the price paid for the nickel component of the metal.Traders said that further concessions in May wer...Read More
Turkish steel producers have gone through Thursday without making any deep-sea scrap purchases, because the political situation in the country has changed and the value of the country's lira has become more volatile, sources said on Thursday April 18.Turkey's supreme committee of elections (YSK) has declared opposition candidate Ekrem Imamoglu the winner of the recent mayoral election in Istanbul,...Read More
Imported and domestic prices for steel billet in Turkey have gone down slightly over the past week, while export prices were stable, sources said on Thursday April 18.Suppliers in the Commonwealth of Independent States (CIS) lowered their offers to $445-450 per tonne cfr, while some material from eastern Ukraine was offered at prices as low as $435 per tonne.But Turkish customers were bidding arou...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), has successfully commissioned a new billet caster with a capacity of 2 million tonnes per year at its mill in Sohar in northern Oman, equipment provider SMS Group said on Thursday April 18"[The new billet caster] is currently operating with six strands and produces rebar billets of 165 millimeters square section at a casting speed...Read More
The import price for steel billet retreated in Egypt in the week ended Thursday April 18, while domestic rebar prices increased, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $450-455 per tonne cfr on Thursday, falling from $455-458 per tonne cfr last week.CIS-origin billet was offered to the country at $470 per tonne cfr, but demand was very w...Read More
Base prices in Europe for stainless steel grade-304 bright bar edged higher this week because of steel mills' ambitions to strengthen their margins, traders told Fastmarkets on Thursday April 18.The outlook for demand was fairly pessimistic, however, and some traders believed that the gains would be short-lived as a result."April will be quite weak, I believe, once we can see the whole month. And...Read More
Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanist??l, Denmark's second largest steel distributor, it said on Thursday April 17.The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanist??l's automated steel distribution center in Taulov, Denmark, four sales offices in...Read More
Oman's Jindal Shadeed, part of India's Jindal Steel & Power (JSPL), has successfully commissioned a new billet caster with a capacity of 2 million tonnes per year at its mill in Sohar in northern Oman, equipment provider SMS Group said on Thursday April 18"[The new billet caster] is currently operating with six strands and produces rebar billets of 165 millimeters square section at a casting speed...Read More
Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanist??l, Denmark's second largest steel distributor, it said on Thursday April 17.The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanist??l's automated steel distribution center in Taulov, Denmark, four sales offices in...Read More