The Turkish steel producers have extended their silence in the deep-sea scrap markets on Wednesday October 10, with firm offers from the suppliers but only weak demand for the mills' finished and semi-finished long steel products.Scrap suppliers, especially in the United States, kept their offers firm because of good demand in the US and also in the Southeast Asian markets, sources said."There are...Read More
Comex copper prices were trading at a one-week high on October 10 morning in the US, with the market alleviated by a weaker dollar and focus on LME Week.The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.20 cents or 0.1% to $2.8085 per lb. During today's intraday trading, the contract touched a high of $2.82 per lb, the highest since Octo...Read More
Domestic prices for hot-rolled coil (HRC) in Southern Europe inched down this week due to competitive import offers and slow trading, sources told Fastmarkets on Wednesday October 10.In the meantime, in the north and center of Europe, prices have been stable, with buyers keeping to a "wait-and-see" position until the next price trend becomes clear.Southern EuropeFastmarkets' price assessment for d...Read More
Turkish pipe export prices have weakened slightly so far in October - in line with fallingraw materials costs - even though demand has remained firm and suppliers are looking to fill European quotas, sources said on Wednesday October 10.Steel pipe producers in Turkey were offering EN10219-standard, grade-S235 tube at around $640-650 per tonne fob, with buyers bidding $630 per tonne.Fastmarket MB's...Read More
In the Guye district of Tangshan, a steelmaking hub in northern China, steel mills have been ordered to observe a 50% production cut ahead of the winter heating season to help curb air pollution.The district government released a document on Monday October 8 that said local steel mills should implement the cut between October 11 and November 14 - which is around a month before the winter heating s...Read More
Trade safeguard measures applied by Turkey will have no effect on the country's traditional import volumes, delegates to the Eurometal steel net forum & international steel trade day in Hamburg, Germany, heard on Tuesday October 9.This was because the measures do not apply to imports of steel products acquired for processing and re-export, and also taking into account the sufficient volumes of the...Read More
Import volumes of both flat and long steel products into Brazil fell in September 2018, while local producers tried to impose several price increases for domestic materials.Brazil's imports of flat steel products dropped by 22.98% year-on-year during the month, to 114,196 tonnes, from 148,277 tonnes, according to figures released by the country's foreign trade ministry, MDIC, late last week.Import...Read More
Prices for domestic hollow steel sections in Europe remained unchanged this week but the market has started to show price weakness, market sources told Fastmarkets on Wednesday October 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?650-670 ($746-769) per tonne delivered on October 10, flat week on week.The correspondin...Read More
The Turkish steel producers have extended their silence in the deep-sea scrap markets on Wednesday October 10, with firm offers from the suppliers but only weak demand for the mills' finished and semi-finished long steel products.Scrap suppliers, especially in the United States, kept their offers firm because of good demand in the US and also in the Southeast Asian markets, sources said."There are...Read More
Seaborne iron ore low alumina prices rose on spot trading activity on Wednesday October 10, while the benchmark 62% Fe iron ore index stayed flat.Metal Bulletin 62% Fe Iron Ore Index: $71.14 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Pilbara Blend Fines Index: $70.17 per tonne cfr Qingdao, unchanged.Metal Bulletin 62% Fe Iron Ore Index, Low Alumina: $76.35 per tonne cfr Qingdao, up by...Read More
China's coking coal and coke futures rose during morning trading on Wednesday October 10, while the steel and iron ore contracts ended the session largely flat.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,047 yuan ($584) per tonne, unchangedJanuary hot-rolled coil: 3,954 yuan per tonne, down 3 yuan per tonneDalian Commodity Exchange January iron ore: 516 yuan...Read More
An oversupply situation in steel billet was helping to continue the weakness in the export market for such material from the Commonwealth of Independent States, sources told Fastmarkets on Wednesday October 10."So many traders and mills are offering [CIS-origin] billet now. That is why customers are getting nervous," one trader told Fastmarkets. "Customers feel that if they buy today, tomorrow som...Read More
Export prices for semi-finished steel products from Iran were stable over the week ended Wednesday October 10, after no new deals were reported in the market this week.The United States reintroduced economic sanctions against Iran in early August, which have had a negative effect on Iran's steel trade because most potential customers are currently refraining from booking material in fear of incurr...Read More
China's domestic rebar prices edged up further on Wednesday October 10 following gains in the billet and futures markets.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($656-661) per tonne, up 10 yuan per tonneNorthern China (Beijing): 4,340-4,370 yuan per tonne, narrowed upward by 10 yuan per tonneThe higher billet and futures prices during the day gave the spot rebar market a small boost, b...Read More
Prices for domestic hollow steel sections in Europe remained unchanged this week but the market has started to show price weakness, market sources told Fastmarkets on Wednesday October 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?650-670 ($746-769) per tonne delivered on October 10, flat week on week.The correspondin...Read More
Turkish pipe export prices have weakened slightly so far in October - in line with fallingraw materials costs - even though demand has remained firm and suppliers are looking to fill European quotas, sources said on Wednesday October 10.Steel pipe producers in Turkey were offering EN10219-standard, grade-S235 tube at around $640-650 per tonne fob, with buyers bidding $630 per tonne.Fastmarket MB's...Read More
Major steel mills in India increased their steel output in the July-September quarter amid stronger demand from downstream industries, according to the latest company filings to the Bombay Stock Exchange.A trader in India said this upturn was "due to the higher demand from the local markets, which are preparing for the festival season."The large number of festivals in the October-December per...Read More
Turkish pipe export prices have weakened slightly so far in October - in line with fallingraw materials costs - even though demand has remained firm and suppliers are looking to fill European quotas, sources said on Wednesday October 10.Steel pipe producers in Turkey were offering EN10219-standard, grade-S235 tube at around $640-650 per tonne fob, with buyers bidding $630 per tonne.Fastmarket MB's...Read More
An oversupply situation in steel billet was helping to continue the weakness in the export market for such material from the Commonwealth of Independent States, sources told Fastmarkets on Wednesday October 10."So many traders and mills are offering [CIS-origin] billet now. That is why customers are getting nervous," one trader told Fastmarkets. "Customers feel that if they buy today, tomorrow som...Read More
Domestic prices for hot-rolled coil (HRC) in Southern Europe inched down this week due to competitive import offers and slow trading, sources told Fastmarkets on Wednesday October 10.In the meantime, in the north and center of Europe, prices have been stable, with buyers keeping to a "wait-and-see" position until the next price trend becomes clear.Southern EuropeFastmarkets' price assessment for d...Read More