Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Export prices for reinforcing bar and wire rod originating from the Commonwealth of Independent States surged in the week to Monday October 25, supported by positive market conditions.Firstly, prices from competitive Turkish suppliers increased over the week, supported by growing import scrap and electricity costs in the country.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar...Read More
Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Base metals on the London Metal Exchange closed the session higher on Monday October 25, but market participants expect further weakness in coming sessions.The three-month copper price led the base metals uptrend, closing at $9,867.50 per tonne, up 1.68% from the close of $9,704 per tonne on Friday October 22. Market participants continued to focus on dwindling copper stocks in LME sheds, wit...Read More
Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More
The latest data for the global manganese ore market for the week ended Monday October 25.Read More
Sentiment in the US hot-rolled coil market has been mixed but continues to lean bearish, with prices again trending downward over the past week, backsliding to levels last seen in August.Fastmarkets' calculation of the daily steel hot-rolled coil index, fob mill US averaged $95.93 per hundredweight ($1,918.60 per short ton) during the week ended Friday October 22, down by 0.54% from $96.45 per cwt...Read More
Netherlands-based automaker Stellantis NV and Samsung SDI have entered into a memorandum of understanding to form a joint venture that will produce battery cells and modules for the North American electric vehicle (EV) market.The plant is expected to start production in 2025 and have an initial annual production capacity of 23 gigawatts (GWh), with a potential to increase to 40 GWh, according to a...Read More
Seaborne coking coal prices were relatively stable across the board on Monday October 25, with no transactions heard, sources told Fastmarkets - although some Chinese coke producers proposed price hikes and Shanxi province unveiled its winter restrictions plan.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $615.14 per tonne, down $0.26 per tonneHard coking coal, cfr Jingtang: $568.59 p...Read More
A combination of hurdles to a recovery of demand, elevated freight rates and lower supply have capped premiums for aluminium billet in Thailand for the second time in three months.Buyers continue to report a shortage of supply from producers in the market, though few were actively negotiating for cargoes. Fastmarkets' monthly assessment of the aluminium 6063 extrusion billet premium, cif Thailand...Read More
London Metal Exchange futures prices were broadly up on the morning of Monday October 25, following a substantial sell-off on the previous Friday, with concerns about power restrictions in China supporting higher aluminium prices. Aluminium's three-month price rose the most on Monday, up 2% to $2,926 per tonne at 9am from $2,868 per tonne on Friday, with more than 5,600 lots of the metal traded at...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Sibanye-Stillwater is in talks to buy the Santa Rita nickel and Serrote copper mines in Brazil from affiliates of funds advised by Appian Capital Advisory LLP, the company said.The South African miner is predominantly a precious metals company, although it produces nickel and copper as by-products and has copper exploration projects in Canada and Argentina."Sibanye-Stillwater hereby advises its sh...Read More
Turkish domestic scrap prices continued to rise over the past week amid rising imported scrap values, market sources told Fastmarkets on Monday October 25.And Turkish steelmakers continued their deep-sea scrap bookings from last week despite increasing prices.Steel producers in the country booked five deep-sea cargoes in the week to Friday October 22.In response to the upward movement in the impor...Read More
Seaborne coking coal prices were relatively stable across the board on Monday October 25, with no transactions heard, sources told Fastmarkets - although some Chinese coke producers proposed price hikes and Shanxi province unveiled its winter restrictions plan.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $615.14 per tonne, down $0.26 per tonneHard coking coal, cfr Jingtang: $568.59 p...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Hot-rolled coil prices in the United States dropped considerably on Monday October 25, lending credence to the growing number of bearish viewpoints expressed in the market over the past several weeks.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $93.45 per hundredweight ($1,869 per ton) on Monday October 25, down by 2.03% from $95.39 per cwt on Friday October 22 and...Read More
JSW Steel USA swung to profitability in its fiscal second quarter a healthy US market with robust steel selling prices, according to the company. The steel producer's Ohio segment reported $48.28 million in earnings before interest, taxes, depreciation and amortization (Ebitda) on $200.8 million in revenue for its fiscal second quarter ended September 30, compared with an Ebitda loss of $10.5...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow have jumped by up to $185 during the week to Monday October 25 on depleted stocks and limited supply from the mills.Fastmarkets' assessment of steel reinforcing bar (rebar) domestic, cpt Moscow, Russia was in a wide range of 62,000-75,000 roubles ($888.46-1,074.75) per tonne cpt on Monday, including 20% value-added tax,...Read More