Rebar producers in Egypt have increased their prices by another E ?400 ($25.50) per tonne with effect from Monday May 17, sources told Fastmarkets. Rebar producers in Egypt are now offering the product at E ?14,300,14,600 per tonne ex-works including 14% VAT, compared with E ?13,900-14,200 per tonne ex-works announced on May 7. The latest increase follows an earlier E ?400 per tonne increase...Read More
Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.The price increase was due to high raw material costs and similarly higher prices for imported steel.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was at 6,910-7115 Reais ($1,311-1,350) per tonne on Fri...Read More
Domestic prices for hot-rolled coil in Europe were largely unchanged on Monday May 17, supported by material shortages and strong demand, sources told Fastmarkets.Market sources said the number of transactions over the past week had been minimal, however, because mills have only limited volumes of coil with long lead times and the buyers have been cautious about doing deals - concerned that if the...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued climbing in the week to Monday May 17, supported by favorable conditions in the finished flat steel market both domestically and abroad.Hot-rolled sheet offers in Russia's domestic market reached 104,000 roubles ($1,404) per tonne cpt, including VAT, in the week to Monday, up from 99,000-104,000 roubles a week ea...Read More
Turkish steel mills made no deep-sea scrap bookings on Monday May 17, the first working day of the week after the Eid al-Fitr holiday, market participants told Fastmarkets.The post-Ramadan religious holiday began on the afternoon of May 12.The country was also under full lockdown between April 29 and May 16 amid a third wave of Covid-19 cases."People are returning from the holiday and lockdown per...Read More
Turkish domestic scrap prices increased further in the past week due to rising imported scrap values, market participants said on Monday May 17.Following the most recent deep-sea scrap transactions, prices for the material have already exceeded $500 per tonne cfr, sources said.Late on Wednesday May 12, a steel mill in the Iskenderun region booked a Baltic sea cargo comprising 18,000 tonnes of HMS...Read More
Seaborne iron ore prices jumped on Monday May 17 due to increased liquidity in the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $217.77 per tonne, up $8.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.80 per tonne, up $9.61 per tonne58% Fe fines high-grade premium, cfr Qingdao: $186.65 per tonne, up $7.36 per tonne65% Fe Brazil-origin fines, cfr...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued climbing in the week to Monday May 17, supported by favorable conditions in the finished flat steel market both domestically and abroad.Hot-rolled sheet offers in Russia's domestic market reached 104,000 roubles ($1,404) per tonne cpt, including VAT, in the week to Monday, up from 99,000-104,000 roubles a week ea...Read More
Seaborne coking coal prices maintained their upward trend in the cfr market amid low supply and necessary procurement activities, while the fob market was largely stable because most market participants had adopted a wait-and-see attitude on Monday May 17, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $120.84 per tonne, down $0.39 per tonnePremium hard coking coal...Read More
Molybdenum prices rose 15% during last week's trading when a combination of low inventories, steady consumption and high copper prices brought the already-limited production outlook into sharp focus. Would-be buyers found themselves caught short or with limited offers last week after a strong first quarter gave way to slower activity in April"I don't know how healthy this rally is, but I'd be feel...Read More
Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said. Rising procurement costs of raw materials have made the lives of small and medium enterprises tough, while higher prices of end products could lead to waning consumption, Ma Wensheng, vice chairman of China Futures Association sai...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Key data from pricing session in London on Monday May 17Key drivers: Offers and bids below the previous range led to a fall in prices despite the fresh inquiries from China. Prices are yet to hit a level where...Read More
The steel rebar price in Russia's Central Federal district around Moscow continued to increase in the week to Monday May 17, backed by solid demand from end users as well as tight availability, sources told Fastmarkets. Russian producers were still holding back from making official offers for June on expectations of even more significant price rises, sources said. "Producers watch the market to un...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.* Inflation concerns remain elevated, US treasury yields and gold firmer* United States Federal Reserve officials stick to their view that inflationary pressures w...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Equity index futures were virtually unchanged following release of April U.S. Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.710 million units from 1.759 million units in March. Actual was 1.569 million units.Home Depot advanced $7.62 to $327.63 after reporting higher than conse...Read More
Here are five Fastmarkets stories you might have missed on Friday May 14 that are worth another look.Some Chinese ports have made stricter checks or have imposed extra fees on iron ore cargoes from India recently, the better to prevent the spread of the Covid-19 pandemic, market sources have told Fastmarkets.Africa-origin copper shipments were facing delays as long...Read More
Here are five Fastmarkets stories you might have missed on Friday May 14 that are worth another look.Some Chinese ports have made stricter checks or have imposed extra fees on iron ore cargoes from India recently, the better to prevent the spread of the Covid-19 pandemic, market sources have told Fastmarkets.Africa-origin copper shipments were facing delays as long...Read More
Here are five Fastmarkets stories you might have missed on Friday May 14 that are worth another look.Some Chinese ports have made stricter checks or have imposed extra fees on iron ore cargoes from India recently, the better to prevent the spread of the Covid-19 pandemic, market sources have told Fastmarkets.Africa-origin copper shipments were facing delays as long...Read More