Prices for steel hollow sections in Europe were unchanged on Wednesday August 4 due to the market heading into a seasonally slower period, sources told Fastmarkets.Fastmarkets' assessment of steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,662-1,698) per tonne on Wednesday, unchanged week on week."Prices remain above ?,?1,400 per tonne and will stay there until S...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
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
A Turkish mill has bought a deep-sea ferrous scrap cargo from the United States, the third reported so far this week, at a price comparable to the two previous US sales to the region.An East Coast exporter sold a 31,000-tonne cargo - comprising 15,000 tonnes of an 80:20 mix of No1 and No1 heavy melting scrap priced at $464 per tonne cfr, 14,000 tonnes of shredded scrap and 2,000 tonnes of plate an...Read More
Domestic steel wire rod prices in the south of Europe were broadly flat in the week to Wednesday August 4 despite seasonally slow buying and the availability of cheaper imports, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was unchanged at ?,?830-850 ($985-1,009) per tonne on August 4.ItalyThe Italian market wa...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Turkish steel producers continued to book deep-sea scrap cargoes for September shipments at stable prices on Wednesday August 4, market participants told Fastmarkets.A steel mill in the Izmir region booked a United States cargo comprising 15,000 tonnes of heavy melting scrap 1&2 (80:20) at $464 per tonne, and 14,000 tonnes of shredded and 2,000 tonnes of plate and structural (P&S) at $479 per tonn...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
European buyers of hot-rolled coil have been in "wait-and-see" mode so domestic prices were fairly stable on Wednesday August 4, sources have told Fastmarkets.Sentiment in the market turned negative despite the seasonal slowdown, due to competitive import offers. Although the volumes available have not been significant, according to estimates by market participants, they will still affect sentimen...Read More
Benjamin Baptista will retire and leave his role as chief executive officer of ArcelorMittal's Brazilian unit on September 30 after 12 years, with current Latin America long steel CEO, Jefferson De Paula, to replace his role, Baptista said on Tuesday August 3.Baptista joined ArcelorMittal in 1983, when it was still called Companhia Sider??rgica de Tubar??o (CST). It was later bought by Arcelor, to...Read More
Century Aluminum is on track to complete the expansion at its Mount Holly smelter in Goose Creek, South Carolina, by the end of the year, allowing it to ramp up to 75% of its 229,000 tonnes annual production capacity.Second quarter 2021 ended June 30 in brief Century's adjusted earnings before income, tax, depreciation and amortization was $34.4 million, an increase of $54.1 million from the previ...Read More
A summary of the financial results for US-based aluminium producer Novelis in April-June 2021, the first quarter of its business year, released on Wednesday August 4.In brief Novelis' adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter were $555 million, up by 119% year-on-year. Net income attributable to its common shareholders was $240 million, up fro...Read More
While 300-series stainless scrap prices in the United States continued to inch higher on strong nickel prices, a correction in the domestic ferrous scrap market has limited growth for 400-series prices, and participants indicated the stainless scrap market could be nearing a peak."The market for stainless scrap in the USA is overblown. The largest processors have seemingly been in a battle for mar...Read More
A rebound in Chinese ferrous futures prices on Wednesday August 4 has led to increased interest in booking seaborne steel billet cargoes in China, sources told Fastmarkets.Sharp drops in ferrous futures on both Monday and Tuesday sapped sentiment from the Chinese market, with buyer indications heard as low as $660 per tonne cfr China for 3sp billet on Tuesday.This was down sharply from the la...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price movesJanie Davies, Dalila...Read More