Buyers in China and the Philippines have recently booked a handful of steel billet import cargoes, leading to a rise in offer prices in the past day, sources told Fastmarkets on Wednesday August 25.Demand for physical cargoes of imported billet in China has been hampered by volatile futures markets over the past week, while interest in Southeast Asia has been hurt by ongoing battles with Covid-19...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 25.Please click...Read More
Tsingshan Group has lowered its tender price for September-delivery ferro-chrome to 9,995 yuan ($1,543) per tonne, the Chinese stainless steelmaker said on Wednesday August 25.The tender price is 800 yuan per tonne (7.41%) lower than what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for August-delivery material.While lower than the previous month's 13-year high,...Read More
Trading remained thin in China's steel plate export market in the week to Tuesday August 24 due to the resurgence of Covid-19 cases, uncompetitive offer prices and uncertainty surrounding China's export tax.Fastmarkets' price assessment for October-shipment steel heavy plate export, fob China main port was $915-925 per tonne on Tuesday, down by $20-25 per tonne from a week earlier.Yingkou Medium P...Read More
The UG2 chrome ore and ferro-chrome markets in China were on hold in the week to Tuesday August 24, with participants waiting for major stainless steel mills to release their September tender prices.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China was $182 per tonne on Tuesday, unchanged from one week earlier. The market was quiet with many buy...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
Spot refined zinc ingot premiums have firmed to multi-year highs in the United States and Europe, with smelter hitches and increasingly expensive transportation stretching supply chains further during the summer season in the northern hemisphere.US spot zinc premium rises to a more than four-year high Rotterdam, Antwerp zinc premiums at highest since early 2018China market eyes narrowing negative...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
Iron ore prices mostly increased on Wednesday August 25 despite weaker trading activity in the physical market, especially at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $148.66 per tonne, up by $2.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $148.95 per tonne, up by $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116.96 per to...Read More
The Turkish steel producers resumed their deep-sea scrap purchases with a European cargo deal, market participants told Fastmarkets on Wednesday August 25.A steel mill in the Iskenderun region booked the Belgian cargo comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The transaction is for prompt shipment.The HMS 1&2 (80:20) price of...Read More
The provincial government of Liaoning in northeastern China has approved a merger between Anshan Iron & Steel (Angang) and Benxi Iron & Steel (Bengang), according to a notice released by the latter's listed arm, Bengang Plate, on Thursday August 19.The owner of Bengang - Liaoning's State-owned Assets Supervision & Administration Commission - will transfer a 51% controlling stake in the steelmaker...Read More
Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
Domestic hot-rolled coil prices in China stemmed their recent rally on Wednesday August 25 while industry data points to an output increase in mid-August.DomesticEastern China (Shanghai): 5,690-5,720 yuan ($879-883) per tonne, widening downward by 20 yuan per tonneThe China Iron & Steel Association (Cisa) said on Tuesday morning that daily crude steel output from its member mills average...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday August 25 due to the quiet summer market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,644-1,679) per tonne on Wednesday, unchanged week on week.Trading remains low during the summer holidays - participants have not yet returne...Read More
Chilean copper producer Codelco has initiated construction work on Rajo Inca, a $1.38-billion addition to its Salvador mine, which should begin operations in 2022, the state-owned company said on Tuesday August 24.Rajo Inca increases the mine life at Salvador by 47 years, to 2070, with copper capacity to reach 90,000 tonnes per year, from 60,000 tpy currently. Mineral exploration will move from an...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More