Turkish steel mills remained quiet in the deep-sea scrap markets on Tuesday November 26 with prices unchanged, according to market sources.Mills booked four deep-sea cargoes last week at steady prices. The bookings from the Baltic Sea region sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20) throughout the week ended Friday November 22.Mills are still expected to book a few more...Read More
While Wall Street climbs to record highs on optimism for a United States-China trade deal and on merger and acquisition developments, the metals at best tread water, while some head lower.Asian equities mainly stronger led by a 0.83% rise in the Australian ASX 200 index.Gold and yen trending lower, but US government bond yields are weaker - so a mixed picture for the havens. Base metalsThree-month...Read More
Domestic prices for hot-rolled coil have been recovering more slowly in Northern Europe than in the south of the region, sources told Fastmarkets on Tuesday November 26.Although some mills in the north of Europe have been offering material at relatively low prices of about ?,?415-425 per tonne ex-works, market sources believe that such prices will soon no longer be available.This is largely in lin...Read More
China's hot-rolled coil prices slid on Tuesday November 26, with buyers not in a rush to restock amid rising supply.DomesticEastern China (Shanghai): 3,700-3,720 yuan ($526-529) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,640-3,660 yuan per tonne, down 10-30 yuan per tonneA Shanghai-based trader said trading overall thinned on Tuesday, with losses in the futures mark...Read More
Domestic prices for steel reinforcing bar in the United Arab Emirates increased over the past week due to strong demand, market sources said on Tuesday November 26.Further increases are expected due to global gains in production costs, market participants in the UAE said, adding that low stock levels in the country will spur more buying.Billet importsBillet was booked from Oman at about....Read More
Eastern China' rebar prices dropped slightly on Tuesday November 26, with participants telling Fastmarkets they expected prices to start trending downward on weakening winter demand.Eastern China (Shanghai): 4,080-4,110 yuan ($580-585) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, unchangedRebar futures decreased sharply over the day, pushing down east...Read More
China's rebar prices moved up on Monday November 25 in both the domestic and export markets following futures gains, but participants were bearish on the market in the coming two months.Eastern China (Shanghai): 4,090-4,120 yuan ($582-586) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, up 20 yuan per tonneHigher rebar futures led to prices rising and...Read More
Turkish steel mills remained quiet in the deep-sea scrap markets on Tuesday November 26 with prices unchanged, according to market sources.Mills booked four deep-sea cargoes last week at steady prices. The bookings from the Baltic Sea region sold at $260 per tonne and $261 per tonne cfr for HMS 1&2 (80:20) throughout the week ended Friday November 22.Mills are still expected to book a few more...Read More
Seaborne iron ore prices fell back below $90 per tonne cfr China on Tuesday November 26 after reclaiming the mark a day earlier, amid losses in steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.30 per tonne, down $1.62 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.33 per tonne, down $1.62 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.71 per ton...Read More
Domestic prices for steel reinforcing bar in the United Arab Emirates increased over the past week due to strong demand, market sources said on Tuesday November 26.Further increases are expected due to global gains in production costs, market participants in the UAE said, adding that low stock levels in the country will spur more buying.Billet importsBillet was booked from Oman at about....Read More
Import prices for steel slab in Southeast Asia and East Asia were stable over the past week due to poor demand despite rebounding prices for downstream flat steel products."Demand remains lackluster because the price spread between slab and hot-rolled coil is not wide enough for re-rollers to accept," a trader in Taiwan said.Restocking activity in Southeast Asia's main HRC import market in...Read More
Eastern China' rebar prices dropped slightly on Tuesday November 26, with participants telling Fastmarkets they expected prices to start trending downward on weakening winter demand.Eastern China (Shanghai): 4,080-4,110 yuan ($580-585) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,800-3,840 yuan per tonne, unchangedRebar futures decreased sharply over the day, pushing down east...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
India's Supreme Court has approved ArcelorMittal's acquisition of Essar Steel, ending years of legal wrangles. "ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (ESIL) has been unconditionally approved by the Indian Supreme Court and is the final procedural step in ESIL's corporate insolvency process," the company said on November 18.Completion of the tra...Read More
The European Union has launched a complaint to the World Trade Organization (WTO) against Indonesian export restrictions on raw materials used in the production of stainless steel, the European Commission (EC) said on November 22.The EC claims that the restrictions unfairly limit European stainless steel producers' access to raw materials, including nickel as well as scrap, coal and coke, iron ore...Read More
Domestic prices for steel reinforcing bar in the United Arab Emirates increased over the past week due to strong demand, market sources said on Tuesday November 26.Further increases are expected due to global gains in production costs, market participants in the UAE said, adding that low stock levels in the country will spur more buying.Billet importsBillet was booked from Oman at about....Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More
Domestic prices for hot-rolled coil have been recovering more slowly in Northern Europe than in the south of the region, sources told Fastmarkets on Tuesday November 26.Although some mills in the north of Europe have been offering material at relatively low prices of about ?,?415-425 per tonne ex-works, market sources believe that such prices will soon no longer be available.This is largely in lin...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday November 26 that are worth another look.The European Commission (EC) has started an investigation into hot-dipped galvanized (HDG) flat steel from China concerning a possible circumvention of anti-dumping measures, and will make such imports subject to registration.The word "weak" was one commonly used by attendees of last week'...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 26.Please click...Read More