Key data from the Wednesday April 10 pricing session in Europe.Key driversThe European ferro-titanium price moved up in the past week, while scrap markets also increased amid firm fundamentals that have fueled a price rally since March. Current business conditions are expected to persist through April and into May. There were reports that a major German steelmaker booked 150 tonnes of alloy for sh...Read More
The European domestic price of mesh-quality wire rod remained flat week on week on Wednesday April 10, with continued price stability expected over the coming weeks, market participants told Fastmarkets.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was unchanged at ?,?535-550 ($603-620) per tonne delivered on Wednesday."We have filled our order books fo...Read More
Turkish steel mills continued to make deep-sea scrap purchases at a slow pace this week, while prices were going down, sources said on Wednesday April 10.A steel producer in the Marmara region booked a United States cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $306 per tonne cfr, 6,000 tonnes of shredded at $311 per tonne and 2,000 tonnes of bonus at $316 per tonne cfr, late on April 9.Th...Read More
Key data from the Wednesday April 10 pricing session in Europe.Key driversThe European ferro-titanium price moved up in the past week, while scrap markets also increased amid firm fundamentals that have fueled a price rally since March. Current business conditions are expected to persist through April and into May. There were reports that a major German steelmaker booked 150 tonnes of alloy for sh...Read More
Global risk sentiment soured overnight following news that the International Monetary Fund (IMF) has downgraded its global growth outlook for 2019 to 3.3% from 3.5% previously. The IMF forecasts the slowdown seen in the second half of 2018 to continue into the first half of this year before picking up in the second half of 2019. The projected growth rate for next year was unchanged at 3.6%.As a re...Read More
Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, according to Emily Hersch, managing partner of DCDB Group. "The practical reality of how [solid-state technology] goes from laboratory to supply isn't so much...Read More
Some of the prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have changed slightly over the past week, with levels of demand remaining low but consistent, Fastmarkets heard on Tuesday April 9.Demand among end-users has been weak, so buyers were unwilling to place orders for large tonnages, sources told Fastmarkets.UAEChina-origin hot-rolled coil (HRC) was on o...Read More
The second decade of the 21st century has been marked by a drastic shift of powers in the global economy, which is opening new opportunities for business, professor Nuria Mas, head of economics department at IESE Business School, said at the 80th meeting of the International Rebar Producers & Exporters Association (Irepas) in Barcelona on Monday April 8. "If in 1980, half of the global GDP was com...Read More
China's hot-rolled coil prices retreated on Wednesday April 10 with trading activity in the domestic market said to be at moderate levels.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($591-593) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, down 10 yuan per tonneA Shanghai-based trader said buyers were only placing orders on an as-needed basis, rather...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
The price for rebar produced and delivered in Southern Europe has narrowed downward by ?,?5 per tonne over the past week amid poor demand, market participants told Fastmarkets on Wednesday April 10.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?485-510 ($547-575) per tonne delivered on Wednesday, down from ?,?485-515 per tonne delivered on April 3.Market part...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More
Turkish steel mills continued to make deep-sea scrap purchases at a slow pace this week, while prices were going down, sources said on Wednesday April 10.A steel producer in the Marmara region booked a United States cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $306 per tonne cfr, 6,000 tonnes of shredded at $311 per tonne and 2,000 tonnes of bonus at $316 per tonne cfr, late on April 9.Th...Read More
The vice president for marketing materials at BHP, Vicky Binns, has decided to leave the company after 10 years, industry sources said. Binns, a 35-year veteran in the industry, will step down from her role in Singapore at the end of September and return to Australia, where she had previously worked for the Macquarie Group and Merrill Lynch. She...Read More
Seaborne iron ore prices continued to slide on Wednesday April 10, while the seaborne spot market remained subdued with no open tenders being issued by the major miners.MB 62% Fe Iron Ore Index: $94.61 per tonne cfr Qingdao, down $0.24 per tonne. MB 62% Fe Pilbara Blend Fines Index: $93.73 per tonne cfr Qingdao, down $0.24 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $96.57 per tonne cfr Qingd...Read More
Iranian steel billet and slab export prices fell in the week to Wednesday April 10 with new deals reported, but prices could soon rise in the wake of widespread flooding across the country.No production cuts have been confirmed by steel mills as yet, a trader told Fastmarkets, but he said the floods would be a reason for price increases. However, whether or not Iran's...Read More
The second decade of the 21st century has been marked by a drastic shift of powers in the global economy, which is opening new opportunities for business, professor Nuria Mas, head of economics department at IESE Business School, said at the 80th meeting of the International Rebar Producers & Exporters Association (Irepas) in Barcelona on Monday April 8. "If in 1980, half of the global GDP was com...Read More
China's domestic rebar prices dropped slightly on Wednesday April 10 due to softer demand. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($596-603) per tonne, down 50-70 yuan per tonneNorthern China (Beijing): 3,940-3,980 yuan per tonne, down 10-20 yuan per tonneBuyers have been cutting their procurement rates since Tuesday due to recent price increases. They continued to limit their purchas...Read More
Key data from the Wednesday April 10 pricing session in Europe.Key driversThe European ferro-titanium price moved up in the past week, while scrap markets also increased amid firm fundamentals that have fueled a price rally since March. Current business conditions are expected to persist through April and into May. There were reports that a major German steelmaker booked 150 tonnes of alloy for sh...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More