Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly firmer this morning, Monday October 19, supported by economic data out of China, especially the 6.9% rise in industrial production, but gross domestic production (GDP) data came in lower than expected.China's GDP climbed by 4.9% in the third quarter, this after a 3.2% rise in the second quarter, it had been e...Read More
Here are five Fastmarkets stories you might have missed on Monday October 19 that are worth another look....Read More
Hot-rolled coil prices in the United States have continued to move higher, supported by tightening supply brought on by rising demand in face of still-constrained domestic production.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $33.39 per hundredweight ($667.80 per short ton) on Monday October 19, up by 0.7% from $33.17 per cwt on Friday October 16 and 3.2% higher...Read More
Domestic prices for steel hot-rolled coil across Europe inched upward over the week to Friday October 16, with buyers expecting prices to rise further.Buyers expected that the mills would soon announce the next round of increases in offer prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.83 ($580.74) per tonne on October 16, up by ?,?2.33...Read More
Offer prices for domestic steel rebar in Russia's Central Federal District around Moscow increased as expected this week, although buyers said it was hard to pass them on to downstream customers, sources said on Monday October 19.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 40,000-41,000 roubles ($514-527) per tonne on October 1...Read More
Prices for imported rebar in Singapore rose slightly in the week to Monday October 19 due to there being less Turkish material in the spot market, sources told Fastmarkets.Offers for Turkish rebar remained at $465 per tonne cfr Singapore on a theoretical weight basis, although Turkish supply is not readily available for December-shipment materials.This is because Turkey has sold large quantities t...Read More
China's domestic rebar prices moved up on Monday October 19 following early gains in the futures market, which received a boost from positive economic data for the third quarter.DomesticEastern China (Shanghai): 3,710-3,740 yuan ($554-558) per tonne, up by 30 yuan per tonneChina's gross domestic product grew by 4.9% on the year in the third quarter, and is 1.7 percentage points higher than the sec...Read More
Domestic prices for ferrous scrap in Italy have been fairly stable over the month to the middle of October, market sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy, was unchanged over the month at ?,?220-240 ($258-281) per tonne on Friday October 16. The assessment was based on transactions heard in the market....Read More
Prices for steel scrap imported by Turkish steel mills inched back upward late last week after earlier dips, market sources told Fastmarkets on Monday October 19.Higher prices were heard in one booking that came to light late on Friday after the Fastmarkets index calculation had closed for the day, and in another that become known on Monday morning.A steel mill in the Izmir region booked a Baltic...Read More
Domestic ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, market sources said on Monday October 19.The mills' buy prices for ship scrap have remained unchanged at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Monday, unchang...Read More
CIS export prices for steel billet inched upward on Monday October 19 amid higher costs for steelmaking raw materials, particularly scrap, Fastmarkets has heard.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was calculated at $410 per tonne on Monday, up by $2 per tonne from Friday.Market participants reported offers within the range of $415-420 per tonne fob Black Sea, against...Read More
Hebei Steel, China's second-largest steel mill, has finalized its purchase price for October-delivery silico-manganese at 6,130 yuan ($914) per tonne, market participants told Fastmarkets on Monday October 19. The latest price is 200 yuan per tonne lower than the mill's purchase price of 6,330 yuan per tonne for September-delivery cargoes. The price from Hebei Steel, which is for cargoes delivered...Read More
In the next 30 years, global demand for both aluminium and steel is likely to double. Against industry calls for a cleaner, more forward-looking supply-chain, however, the chairman and chief executive of GFG Alliance, Sanjeev Gupta, sees climate change as the key accelerator for a sustainability-led reinvention of the sector.Delivering his welcoming address at this year's virtual LME Week seminar,...Read More
Here are five Fastmarkets stories you might have missed on Monday October 19 that are worth another look....Read More
Hot-rolled coil prices in the United States have continued to move higher, supported by tightening supply brought on by rising demand in face of still-constrained domestic production.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $33.39 per hundredweight ($667.80 per short ton) on Monday October 19, up by 0.7% from $33.17 per cwt on Friday October 16 and 3.2% higher...Read More
Further measures to increase transparency and investments for metal producers were required to expand the sustainable metal market, participants said on a sustainability panel during the London Metal Exchange's online LME Week seminars on Monday October 19.Harald Friedl, sector lead at Climate Champions, said that the issue of sustainable metals supply chains has continued to gain traction among t...Read More
Domestic prices for steel hot-rolled coil across Europe inched upward over the week to Friday October 16, with buyers expecting prices to rise further.Buyers expected that the mills would soon announce the next round of increases in offer prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.83 ($580.74) per tonne on October 16, up by ?,?2.33...Read More
Here are five Fastmarkets stories you might have missed on Monday October 19 that are worth another look....Read More
Heinz J??rg Fuhrmann, chief executive officer of German steelmaker Salzgitter, will retire in mid-2021, the company said on Saturday October 17. Fuhrmann will remain in the position of CEO until his employment contract ends on June 30, 2021, the company confirmed. "Chief executive officer Prof Dr-Ing Heinz J??rg Fuhrmann will have reached the...Read More
The world's largest ferrous scrap market is set to get a boost from the impending launch of a futures contract on China's Dalian Commodity Exchange (DCE).The scrap futures contract will be based on shredded scrap, which is one of the key steelmaking raw materials for steel mills in China and can be used by all kinds of furnaces, DCE senior manager Yang Shuai said at an industry conference in south...Read More