Domestic rebar prices in the United Arab Emirates continued to fall this week, while imported rebar prices were stable, sources said on Tuesday November 3.Domestic rebarThe country's steel producers were offering rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in November, stable since September 15.But deal prices were at around 1,790-1,800 dirhams per tonne ex-works, wi...Read More
China's domestic rebar prices lost upward momentum on Tuesday November 3 on a weaker futures market and amid rising concerns over mills profiting from high rebar output.DomesticEastern China (Shanghai): 3,810-3,840 yuan ($569-574) per tonne, unchanged Some buyers cut procurement rates on seeing the weaker futures market, but while trading activity dropped off slightly, most end...Read More
Indian steelmaker Jindal Steel & Power (JSPL) announced its highest-ever quarterly sales, steel production and earnings in the second quarter of its 2020/2021 financial year, over July-September 2020.In brief The company's steel exports fell by 17.8% quarter on quarter to 740,000 tonnes in the company's second quarter, amid stronger ferrous demand from India's domestic market.Exports constituted 3...Read More
Prices continued to increase for some grades in Mexico's main steel scrap markets, amid strong domestic demand and expectations of higher prices for imported material.A few companies were heard to be increasing prices in both the Monterrey and Baj?-o regions, while the majority did not announce any price changes. But some scrap buyers were trying to secure batches and negotiating volumes at prices...Read More
Brazilian iron ore exports fell 8.6% in October, when compared with the same month last year, since the month had fewer workdays in 2020, and despite those volumes representing a higher daily average, data from the country's economy ministry showed on Tuesday November 3.Brazil exported 31.19 million tonnes of iron ore last month, down from 34.14 million tonnes a year before, and down 17.6% from th...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market amid growing uncertainty over the potential impact of the presidential election in the United States, sources said on Tuesday November 3.Mills in Turkey have been silent in the deep-sea scrap markets since the middle of last week after booking number of cargoes. Most market participants were waiting to see what impact the pr...Read More
CIS steel billet producers have continued to offer material to foreign customers at rather high prices, with support from the global uptrend in the long steel markets, Fastmarkets heard on Tuesday November 3.In any case, the producers were in no hurry to sell-out volumes scheduled for shipment in January.For their part, customers in the majority of export destinations considered the current offers...Read More
Prices for cargoes of steel billet imported into Southeast Asia have risen over the past week amid tighter supply, but high stocks and very difficult weather in the Philippines were damping the prospects of further increases, market sources told Fastmarkets on Tuesday November 3.Billet prices into Southeast Asia have moved up slowly over the past fortnight following deals into the Philippines and...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 3 that are worth another look.Flying taxis and skyports could become a reality over the next 20 years, according to Shin Jaiwon, Hyundai Motor Group's executive vice president and head of the newly established Urban Air Mobility...Read More
Brazilian iron ore exports fell 8.6% in October, when compared with the same month last year, since the month had fewer workdays in 2020, and despite those volumes representing a higher daily average, data from the country's economy ministry showed on Tuesday November 3.Brazil exported 31.19 million tonnes of iron ore last month, down from 34.14 million tonnes a year before, and down 17.6% from th...Read More
Indian steelmaker Jindal Steel & Power (JSPL) announced its highest-ever quarterly sales, steel production and earnings in the second quarter of its 2020/2021 financial year, over July-September 2020.In brief The company's steel exports fell by 17.8% quarter on quarter to 740,000 tonnes in the company's second quarter, amid stronger ferrous demand from India's domestic market.Exports constituted 3...Read More
Prices continued to increase for some grades in Mexico's main steel scrap markets, amid strong domestic demand and expectations of higher prices for imported material.A few companies were heard to be increasing prices in both the Monterrey and Baj?-o regions, while the majority did not announce any price changes. But some scrap buyers were trying to secure batches and negotiating volumes at prices...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 3. Please click...Read More
Brazilian iron ore exports fell 8.6% in October, when compared with the same month last year, since the month had fewer workdays in 2020, and despite those volumes representing a higher daily average, data from the country's economy ministry showed on Tuesday November 3.Brazil exported 31.19 million tonnes of iron ore last month, down from 34.14 million tonnes a year before, and down 17.6% from th...Read More
The London Metal Exchange base metals complex closed up by 1.2% from the previous day's kerb on Tuesday November 3, buoyed by bullish expectations arising from the same day's United States presidential election.Conversely, the US dollar index was trading down by 0.64% around 93.40 during the afternoon session, in anticipation of the poll result, providing a significant tailwind for LME three-month...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 3 that are worth another look.Flying taxis and skyports could become a reality over the next 20 years, according to Shin Jaiwon, Hyundai Motor Group's executive vice president and head of the newly established Urban Air Mobility...Read More
Many Chinese steelmakers switched up their sinter feed ratios to consist of more low and high-grade iron ore amid rising prices for mid-grade products in the third quarter, sources said.This trend appeared short-lived when iron ore prices declined in the last couple of months but with coke becoming costlier in China, blends of low and high grades of iron ore appear to be making a comeback.Surging...Read More
The London Metal Exchange base metals complex closed up by 1.2% from the previous day's kerb on Tuesday November 3, buoyed by bullish expectations arising from the same day's United States presidential election.Conversely, the US dollar index was trading down by 0.64% around 93.40 during the afternoon session, in anticipation of the poll result, providing a significant tailwind for LME three-month...Read More
Many Chinese steelmakers switched up their sinter feed ratios to consist of more low and high-grade iron ore amid rising prices for mid-grade products in the third quarter, sources said.This trend appeared short-lived when iron ore prices declined in the last couple of months but with coke becoming costlier in China, blends of low and high grades of iron ore appear to be making a comeback.Surging...Read More
The London Metal Exchange has approved the resignation of French bank Soci?(C)t?(C) G?(C)n?(C)rale from its Category II and LMEprecious membership structure, outlining in a note to members on Tuesday November 3 that the entity will no longer trade as a general clearing member of LMEClear with immediate effect. Soci?(C)t?(C) G?(C)n?(C)rale, also known as SocGen, began a refinement of its commodity...Read More