Here are five Fastmarkets stories you might have missed on Wednesday October 7 that are worth another look.Brazilian vehicle production fell by 11% in September 2020 compared with the corresponding month a year before, with producers increasing supply from April lows at a slow pace in order to prevent inventories from rising...Read More
Turkish steel mills continued to stay away from deep-sea scrap purchasing due to the weak domestic steel market, sources told Fastmarkets on Wednesday October 7.The country's steelmakers had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Baltic Sea-origin scrap.The previous Balt...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 7. Key drivers A persistent and seemingly increasing tightness in titanium scrap is propelling scrap and ferro-titanium prices for the fourth and fifth weeks in a row respectively. Ferro-titanium producers say they are worried about securing enough scrap in coming weeks, with volumes falling from traditional sect...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Wednesday October 7, while equity markets were mixed. US Federal Reserve chair Jerome Powel warned too little stimulus is worse than too much.International Monetary Fund chief Kristalina Georgieva warns economic "calamity is far from over".US President Donald Trump postpones stimulus talks with Democrats unt...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 7 that are worth another look.Brazilian vehicle production fell by 11% in September 2020 compared with the corresponding month a year before, with producers increasing supply from April lows at a slow pace in order to prevent inventories from rising...Read More
Domestic prices for hot-rolled coil in Europe increased further week on week on Wednesday October 7, driven by long lead times from domestic mills and a lack of import offers, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?497.50 ($585.83) per tonne on Wednesday, up by ?,?1.04 per tonne from ?,?496.46 per tonne on Oc...Read More
Following an extended consultation period, Fastmarkets is to discontinue four Argentinian steel price assessments from Friday October 9, following a long period of low liquidity and an inactive spot market.The prices to be discontinued are as follows:MB-STE -0003 Steel hot-rolled coil monthly assessment domestic, exw Argentina, $/tonneMB-STE -0001 Steel cold-rolled coil monthly assessment domestic...Read More
Hollow steel sections prices in Europe moved up further this week while mills continue to pass on higher feedstock costs, market sources told Fastmarkets on Wednesday October 7.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?590-620 per tonne ($695-730) on Wednesday, up from ?,?580-590 per tonne one week previous.The price of hot-rolled coil, t...Read More
The low end of the steel H-beam price ranges in Europe moved up this week on positive producer sentiment after recent price increase announcements, sources told Fastmarkets on Wednesday October 7. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?540-570 per tonne ($636-671) on Wednesday, narrowing on the low end from ?,?530-570 per tonne one wee...Read More
Domestic steel rebar prices in Europe were largely rangebound in the week to Wednesday October 7, with market participants saying they believe prices have reached a top in both the north and south of the region.Northern Europe Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?470-480 ($553-565) per tonne on Wednesday, widening d...Read More
Turkish steel mills continued to stay away from deep-sea scrap purchasing due to the weak domestic steel market, sources told Fastmarkets on Wednesday October 7.The country's steelmakers had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Baltic Sea-origin scrap.The previous Balt...Read More
Steel slab producers in Iran have managed to achieve higher sales prices in recent transactions amid improving demand in Asia and the resulting stronger prices.According to reports from market participants, several cargoes of slab from Mobarakeh Steel and its subsidiary Hormozgan Steel were sold to traders late in the week ended October 2 at $446 per tonne fob Southern Iranian ports.Another local...Read More
Demand for steel billet in the Gulf Cooperation Council (GCC) region early in the week that began on Monday October 5 supported billet sellers in the CIS region, which have been faced with a lack of trading activity in most outlets recently.Customers in the Middle East-North Africa (Mena) region and Asia have adopted a wait-and-see position over the past seven days amid uncertainty about the price...Read More
The chromium metal market is facing oversupply after orders from the aerospace sector stalled, resulting in increased competition for business among suppliers, sources told Fastmarkets. Chromium metal in its higher purity is used to create a variety of superalloy components including turbine blades for the aerospace industry, due to its high resistance to corrosion. "Demand [from aerospace] is dow...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 7. Key drivers A persistent and seemingly increasing tightness in titanium scrap is propelling scrap and ferro-titanium prices for the fourth and fifth weeks in a row respectively. Ferro-titanium producers say they are worried about securing enough scrap in coming weeks, with volumes falling from traditional sect...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 7 that are worth another look.Brazilian vehicle production fell by 11% in September 2020 compared with the corresponding month a year before, with producers increasing supply from April lows at a slow pace in order to prevent inventories from rising...Read More
Brazilian vehicle production fell by 11% in September 2020 compared with the corresponding month a year before, with producers increasing supply from April lows at a slow pace in order to prevent inventories from rising too much, carmakers' association Anfavea said on Wednesday October 7.The country made 220,162 vehicles last month, down from 247,455 units reported in September 2019. But output wa...Read More
Here are five Fastmarkets stories you might have missed on Monday October 5 that are worth another look.Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye.After United States sanctions cut off supplies of microchips...Read More
Most Turkish flat steel prices decreased toward the end of September 2020 and market sources expected further price reductions to come amid price falls for raw materials, Fastmarkets heard on Monday October 5.Turkish flat steel producers were fully booked through September, with trading sources reporting that the market was moderate for most of the month because of strong demand in Asia at the beg...Read More
Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye. This weekend numerous reports appeared in the British press indicating that Chinese steel company Hebei Jingye Group had expressed interest in acquiring Tata Steel's flat steelmaking asset, Port Talbot. Tata Steel called this information "speculative" in a comment to Fastmarkets on Mon...Read More