The Turkish deep-sea scrap import market remained steady on Thursday, with mills continuing to seek material for December shipment to replenish stocks, sources said on Thursday November 5.A steel mill in the Izmir region booked a deep-sea cargo of 25,000 tonnes of HMS 1&2 (80:20) from Venezuela at $290 per tonne cfr. The scrap is scheduled to be shipped in the first half of December.However,...Read More
Export prices for lower-impurity steel scrap grades from Japan jumped over the past week following greater buying interest from South Korean mills, market participants told Fastmarkets."The Japanese market is hot right now- a South Korean steelmaker increased its bid price for H1, plate & structural (P&S), Shindachi and shredded, while other mills are negotiating privately and paying [even] m...Read More
China's upcoming steel scrap futures looks set to be a game changer for the international community dealing in the steelmaking raw material.It will open up a whole new world of opportunities for both domestic and international traders, especially those who have been looking to capitalize on the massive size of China's domestic scrap market.While the Dalian Commodity Exchange (DCE) has yet to relea...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up day on day on Thursday November 5, due to long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?511.34 ($597.98) per tonne on Thursday November 5, up by ?,?6.23 per tonne from ?,?505.11 per tonn...Read More
Domestic prices for heavy steel plate went down in Southern Europe in the week to Wednesday November 4 due to low demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?445-455 ($520-532) per tonne on November 4, down by ?,?5-10 per tonne from ?,?450-465 per tonne.The assessment reflected offers and "workable" prices...Read More
Finished steel inventories at member mills of the China Iron & Steel Association (Cisa) fell by 11.26% in late October from the middle of the month, according to data released on Wednesday November 4.October 21-31 outputCrude steel: 2.16 million tonnes per day, down 0.77%Finished steel: 2.14 million tpd, up...Read More
Steel rebar and billet prices have remained stable in Egypt in the week ending Thursday November 5, with demand being very weak, sources have told Fastmarkets.Egypt had reduced the safeguard duty it imposed on billet and rebar imports the week before.The duty for imported billet has been reduced to 13% for the cif market but with a minimum of $60 per tonne. This compared with a 16% duty and $75 pe...Read More
Domestic rebar and wire rod prices in Turkey continued to climb over the past week because of the weakening Turkish lira, sources told Fastmarkets on Thursday November 5.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,530-4,640 lira ($537-550) per tonne on Thursday, up from 4,450-4,500 lira per tonne last week.The increase followed a fu...Read More
The Turkish long steel export market remained unmoved on tight supply and high scrap costs over the past week, sources told Fastmarkets on Thursday November 5.Mills in the country achieved sales at $450-455 per tonne fob in previous weeks and set their offer price at $455-460 per tonne fob last week, which they are still offering. A cargo of Turkish rebar was sold to Peru at $450 per tonne fob in...Read More
The Turkish deep-sea scrap import market remained steady on Thursday, with mills continuing to seek material for December shipment to replenish stocks, sources said on Thursday November 5.A steel mill in the Izmir region booked a deep-sea cargo of 25,000 tonnes of HMS 1&2 (80:20) from Venezuela at $290 per tonne cfr. The scrap is scheduled to be shipped in the first half of December.However,...Read More
Export prices for lower-impurity steel scrap grades from Japan jumped over the past week following greater buying interest from South Korean mills, market participants told Fastmarkets."The Japanese market is hot right now- a South Korean steelmaker increased its bid price for H1, plate & structural (P&S), Shindachi and shredded, while other mills are negotiating privately and paying [even] m...Read More
China's upcoming steel scrap futures looks set to be a game changer for the international community dealing in the steelmaking raw material.It will open up a whole new world of opportunities for both domestic and international traders, especially those who have been looking to capitalize on the massive size of China's domestic scrap market.While the Dalian Commodity Exchange (DCE) has yet to relea...Read More
The prices of steel billet in the Turkish markets have increased over the past week, in line with firmer scrap costs and tight supplies of long steel, sources said on Thursday November 5.Turkish steel mills were booking scrap earlier this week at firm prices, with the mills trying to replenish their stocks after agreeing some long steel export sales, according to the sources.After the latest booki...Read More
Steel rebar and billet prices have remained stable in Egypt in the week ending Thursday November 5, with demand being very weak, sources have told Fastmarkets.Egypt had reduced the safeguard duty it imposed on billet and rebar imports the week before.The duty for imported billet has been reduced to 13% for the cif market but with a minimum of $60 per tonne. This compared with a 16% duty and $75 pe...Read More
Trading activity in the Iranian export billet market remained limited at the beginning of November amid challenging market conditions in both the domestic and export outlets, sources said.In the domestic market, the Iranian government insisted on a higher allocation of semi-finished steel products at low prices to support local re-rollers, Fastmarkets was told.This left the domestic billet price e...Read More
China's domestic stainless steel prices fell in the week ended Wednesday November 4, with the market tracking weakness in nickel futures.The three-month nickel contract on the London Metal Exchange fell steadily over the past week and ended Wednesday's official trading session at $15,422 per tonne, down by $427 per tonne (2.7%) from $15,849 per tonne on October 28.The most-traded January stainless...Read More
Finished steel inventories at member mills of the China Iron & Steel Association (Cisa) fell by 11.26% in late October from the middle of the month, according to data released on Wednesday November 4.October 21-31 outputCrude steel: 2.16 million tonnes per day, down 0.77%Finished steel: 2.14 million tpd, up...Read More
China's upcoming steel scrap futures looks set to be a game changer for the international community dealing in the steelmaking raw material.It will open up a whole new world of opportunities for both domestic and international traders, especially those who have been looking to capitalize on the massive size of China's domestic scrap market.While the Dalian Commodity Exchange (DCE) has yet to relea...Read More
Market participants in China are increasingly confident that Chinese authorities will revive steel scrap imports into the country in 2021 following the release of new domestic scrap classification standards.A draft of the new standards for ferrous and stainless scrap for China's domestic market was released late last month. Market participants expect these standards to be launched and implemented...Read More
Zinc concentrate treatment charges continued to slide in October, falling to a 26-month low with near-term demand continuing to outweigh immediate supplies of material, Fastmarkets has heard.Fastmarkets' latest monthly assessment for zinc spot concentrate TC, cif China, was $85-105 per tonne on Friday October 30, down by 13.6% from $100-120 per tonne on September 25.The market for zinc concentrate...Read More