Domestic prices for hot-rolled coil in Northern Europe increased day on day on Thursday August 6, despite the seasonal market slowdown, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?415.00 ($491.66) per tonne on Thursday, up by ?,?0.83 per tonne day on day from ?,?414.17 per tonne on Wednesday.Thursday's index was...Read More
Turkey exported 616,565 tonnes of flat steel products in June 2020 up by 73.31% year on year from 355,753 tonnes in June 2019, according to the latest report from the Turkish Statistical Institute (TUIK).The country exported 2,694,952 tonnes of flat steel in January-June 2020, down by 11.29% from the 3,037,796 tonnes exported in the first six months of 2019.Additionally, Turkey's flat steel export...Read More
Crude steel, finished steel and hot metal output of the China Iron & Steel Association's (Cisa) member mills rose to record highs in late July, but steelmakers' finished steel inventories dropped sharply, according to data released late on Wednesday August 5.July 21-31 outputCrude steel: 2.39 million tonnes per day, up by 1.59%Finished steel: 2.40 million tpd, up by 6.89%Hot metal: 2.12 million tp...Read More
Turkish domestic rebar prices have increased sharply over the past week in response to rising scrap costs and a weakening lira, sources said on Thursday August 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,670-3,770 lira ($523-537) per tonne on Thursday, up from 3,550-3,600 lira per tonne last week, including 18% VAT.The mills in the Istanbul,...Read More
Turkish rebar and wire rod export prices have increased over the past week amid rising imported scrap costs, but demand was still poor, sources said on Thursday August 6.Turkish steel mills raised their offers for rebar exports to $435-440 per tonne fob on actual weight basis, around $5 per tonne higher than last week, however, customers were only bidding at $420-425 per tonne for the material, Fa...Read More
The prices for steel billet imports and domestically produced steel rebar were stable in Egypt in the week to Thursday August 6, because of the Eid al-Adha religious holiday that ended on August 3 and the resulting reduced demand, sources have told Fastmarkets.Most market participants were still on holiday on Thursday and, with rebar consumption already subdued, there was hardly any buying activit...Read More
The Turkish steel mills have continued their deep-sea scrap purchases for September shipments at escalating prices, sources said on Thursday August 6.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $283 per tonne, shredded at $288 per tonne and bonus at $293 per tonne cfr. The cargo breakdown was not clear, but the normal cargo size from this supplier...Read More
Activity in the bulk import market for steel scrap sold to Bangladesh has increased over the past week, with fresh buying interest in Japan- and US-origin material, market sources told Fastmarkets on Thursday August 6.Market chatter on Thursday centered on fresh bids for Japan-origin scrap in bulk and renewed activity in the deep-sea import market for US West Coast scrap, at higher prices than the...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More
Turkish billet prices continued to increase over the past week on rising imported scrap values, however, demand for the material was limited, sources said on Thursday August 6.Export billet prices from the Commonwealth of Independent States (CIS) continued to increase this week in line with higher offers from mills, which global rising import scrap costs supported.Suppliers in the CIS raised their...Read More
The prices for steel billet imports and domestically produced steel rebar were stable in Egypt in the week to Thursday August 6, because of the Eid al-Adha religious holiday that ended on August 3 and the resulting reduced demand, sources have told Fastmarkets.Most market participants were still on holiday on Thursday and, with rebar consumption already subdued, there was hardly any buying activit...Read More
Crude steel, finished steel and hot metal output of the China Iron & Steel Association's (Cisa) member mills rose to record highs in late July, but steelmakers' finished steel inventories dropped sharply, according to data released late on Wednesday August 5.July 21-31 outputCrude steel: 2.39 million tonnes per day, up by 1.59%Finished steel: 2.40 million tpd, up by 6.89%Hot metal: 2.12 million tp...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.The United States will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada, President Donald Trump announced on Thursday August 6. The aluminium industry neither deserves nor can afford the shock that...Read More
End-user demand for steel in Mexico has improved and most sectors are performing close to pre-pandemic levels, according to Latin American steel group Ternium."Demand in the Mexican industrial sector is very good today," its chief executive officer M??ximo Vedoya said on Wednesday August 5.Among the sectors that are performing better are home appliances, automotive and infrastructure, he added.Mex...Read More
The aluminium industry neither deserves nor can afford the shock that would come from the United States' reintroduction of Section 232 tariffs on imports from Canada, according to Aluminum Association president and chief executive officer Tom Dobbins. Citing the latest government data from the US Census Bureau, Dobbins noted that US imports of primary aluminium from Canada were nearly 5% lower in...Read More
Brazil-based steelmaker Gerdau expects the metal spread in its North America division to remain stable in the coming months after the company was able to secure ferrous scrap at competitive prices, chief executive officer Gustavo Werneck said on Wednesday August 5.The company's metal spread - the premium between finished steel prices and scrap costs - averaged $415 per short ton in North America d...Read More
Turkey exported 616,565 tonnes of flat steel products in June 2020 up by 73.31% year on year from 355,753 tonnes in June 2019, according to the latest report from the Turkish Statistical Institute (TUIK).The country exported 2,694,952 tonnes of flat steel in January-June 2020, down by 11.29% from the 3,037,796 tonnes exported in the first six months of 2019.Additionally, Turkey's flat steel export...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 6 that are worth another look.The United States will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada, President Donald Trump announced on Thursday August 6. The aluminium industry neither deserves nor can afford the shock that...Read More
Aluminium industry participants - many of which lobbied against Section 232 tariffs - respond to US President Donald Trump's decision to reinstate the tariffs on imports of non-alloyed unwrought aluminium from Canada.Michael Bless, chief executive officer of Century Aluminum Co and a strong supporter of the Section 232 tariffs, said that their reintroduction would continue to help drive the resurg...Read More
Sometimes it is better to let a situation speak for itself. Alcoa, Rio Tinto Aluminium, Novelis, Constellium, Arconic, Kaiser Aluminum, Tri-Arrows Aluminum, American Metal Chemical Corp, Hydro Extrusion North America, JW Aluminum, Real Alloy, Reynolds Consumer Products, Scepter, Silberline Manufacturing Co, Smelter Service Corp and Wagstaff. The US Aluminum Association, which represents more than...Read More