China's domestic rebar prices stopped rising on Thursday October 29 due to lower buying interest in the higher offer prices. DomesticEastern China (Shanghai): 3,730-3,760 yuan ($556-561) per tonne, unchangedJanuary rebar contracts increased to a high of 3,680 yuan per tonne in the morning October 29, up from the opening price of 3,656 yuan per tonne. Sellers raised their offers by 10-20...Read More
Turkey's steel mills did not make any purchases of deep-sea market steel scrap on Thursday October 29 due to a public holiday to mark Republic Day in the country.No new cargo trades were heard on the market but mills have already booked as many as 10 cargoes this week. It was not known if they would return to the market on the last day of the week for...Read More
Prices for cargoes of ferrous scrap exported from Japan are poised to continue rising amid strong appetite from Vietnam and continued concerns over global scrap supply, sources told Fastmarkets.Vietnam was heard paying $300-305 per tonne cfr for Japanese H2 scrap in bulk at the end of last week, which Japanese sources said was equivalent to around ?28,500 per tonne fob.One South Korean mill was h...Read More
China's domestic rebar prices stopped rising on Thursday October 29 due to lower buying interest in the higher offer prices. DomesticEastern China (Shanghai): 3,730-3,760 yuan ($556-561) per tonne, unchangedJanuary rebar contracts increased to a high of 3,680 yuan per tonne in the morning October 29, up from the opening price of 3,656 yuan per tonne. Sellers raised their offers by 10-20...Read More
Changes in the purchasing habits of some Chinese alloy smelters are partly to blame for the weakness in the low-grade manganese ore market, sources told Fastmarkets.Prices for the low-grade manganese ore, also called semi-carbonate, in both seaborne and portside markets have generally trended downward since hitting year-to-date highs in late April on supply concerns after South Africa implemented...Read More
China's domestic stainless steel prices decreased slightly in the week ended Wednesday October 28 due to softer demand following nickel losses.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,500-15,200 yuan ($2,157-2,261) per tonne, widened downward by 100 yuan per tonne from a week earlier.The three-month nickel contract on the London Metal Exchange fell steadily from O...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 29 that are worth another look.Italian trade unions Uilm and Fiom-Cgil have called for steelworkers at ArcelorMittal Italia to go on strike on November 5 because they have not been given any clear...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Several large steel projects located in Southeast Asia, underpinned by Chinese investment, are nearing completion and will provide a huge boost to production capacity in the region. Of the 59.9 million tonnes of major carbon steel production capacity planned to come on stream in the next decade in Southeast Asia, 39.4 million tonnes will come from Chinese-led projects, according to statistics from...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 29 that are worth another look.Italian trade unions Uilm and Fiom-Cgil have called for steelworkers at ArcelorMittal Italia to go on strike on November 5 because they have not been given any clear...Read More
The three-month price of tin on the London Metal Exchange lagged behind at the close of trading on Thursday October 29, showing the greatest daily losses at 1.1% and slipping below nearby support levels.Meanwhile, a large cancelation in the morning meant that LME lead futures remained elevated over the day.Tin's outright price on the LME closed at $17,822 per tonne on Thursday afternoon, falling f...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday October 29, but steelmakers remained bullish due to good order books and a lack of competitive import offers, market sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.22 ($593.92) per tonne on Thursday, up by just ?,?0.22 per...Read More
Turkey's steel mills did not make any purchases of deep-sea market steel scrap on Thursday October 29 due to a public holiday to mark Republic Day in the country.No new cargo trades were heard on the market but mills have already booked as many as 10 cargoes this week. It was not known if they would return to the market on the last day of the week for...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 29 that are worth another look.Italian trade unions Uilm and Fiom-Cgil have called for steelworkers at ArcelorMittal Italia to go on strike on November 5 because they have not been given any clear...Read More
Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...Read More
Changes in the purchasing habits of some Chinese alloy smelters are partly to blame for the weakness in the low-grade manganese ore market, sources told Fastmarkets.Prices for the low-grade manganese ore, also called semi-carbonate, in both seaborne and portside markets have generally trended downward since hitting year-to-date highs in late April on supply concerns after South Africa implemented...Read More
The three-month price of tin on the London Metal Exchange lagged behind at the close of trading on Thursday October 29, showing the greatest daily losses at 1.1% and slipping below nearby support levels.Meanwhile, a large cancelation in the morning meant that LME lead futures remained elevated over the day.Tin's outright price on the LME closed at $17,822 per tonne on Thursday afternoon, falling f...Read More
Seaborne premium hard coking coal prices in the cfr and fob markets moved in reverse directions on Thursday October 29 amid a distorted spot market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.74 per tonne, down $7.61 per tonne Premium hard coking coal, cfr Jingtang: $135.26 per tonne, up $15.43 per tonneHard coking coal, fob DBCT: $95.52 per tonne, down $0.25 per tonn...Read More
The London Metal Exchange three-month nickel price was the under performer during morning trading on Thursday October 29, with its price action largely subdued against a continued upsurge in the US dollar index, while a fresh cancelation of some 18,525 tonnes kept the LME lead price elevated.LME nickel's outright price was recently trading at $15,515 per tonne on Thursday morning, falling by some...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Approaching the end of the calendar year, steelmakers and consumers enter a busy period of contract negotiations for supply for 2021 or at least the first quarter or half year.With the sharp increases in spot market steel prices during recent months, steelmakers are understandably looking to take advantage and secure higher c...Read More