An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Surging steel demand in the majority of global markets pushed prices up in most regions in the week to Friday May 14. Only the United States deep-sea ferrous scrap market remained inactive, while Chinese scrap prices fell victim to softer prices for finished steel products.Turkey secured European scrap at an increase to satisfy surging finished steel demandHigher offers failed to tempt US exporter...Read More
Prices for shredded steel scrap imported into South Asia jumped in the week to Friday May 14 following a large increase on the international scrap market, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $510.55 per tonne on Friday, up from $478.96 per tonne one week earlier.Just one deal was heard at $510 per tonne this...Read More
Prices for containerized ferrous scrap in the key Taiwanese market surged this week amid strong demand for cargoes and limited offers from sellers waiting for more price increases. Fastmarkets' daily price assessment for containerized steel scrap, HMS 1&2 (80:20), United States material import, cfr main port Taiwan was $475-480 per tonne on Friday May 14, increasing by $15-20 per tonne from W...Read More
Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.Asia-Pacific equities rebounded on Friday US treasury yields eased as United States Federal Reserve officials stuck to their view that inflationary pressures will be transitoryMetals could final...Read More
Lithium prices in the seaborne Asian market continued their strong upward trajectory over the week to Thursday May 13 while the equivalent domestic market in China calmed from the strong momentum in the first quarter of 2021, sources said.Both lithium carbonate and hydroxide prices in seaborne Asian market ticked up amid tight availability.The battery-grade lithium hydroxide price in China continu...Read More
Import prices for flat-rolled steel in South America increased once again in the week ended Friday May 14, with all products above $1,000 per tonne - some for the first time ever - on significantly higher offers from all origins.Despite an export tax rebate in China being cut only for heavy plate, hot-rolled coil and pre-painted across the flat steel space, the effect was spilling over through the...Read More
Major Vietnamese steel mills raised their offer prices for hot-rolled coil in the week to Friday May 14 after major domestic suppliers Formosa Ha Tinh Steel and Hoa Phat Steel increased their offers for local buyers this week.Formosa Ha Tinh Steel increased its offer for re-rolling grade HRC (non skin pass) for July shipment by $110-120 per tonne to $1,030 per tonne cif for domestic buyers. Source...Read More
The United Kingdom's Serious Fraud Office is investigating the Gupta Family Group Alliance in relation to the organization's financing arrangements, it said on Friday May 14. "The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the Gupta Family Alliance," the SFO said in a public statement, a...Read More
The price of secondary steel billet in the Indian local market rose by 1,000 rupees ($14) per tonne in the week to Friday May 14 on rising raw material prices and an increase in export opportunities for secondary billet made through the induction furnace (IF) route."Prices of raw materials such as direct-reduction iron [DRI] have increased because most kilns have reduced production, while opportun...Read More
Indian steel producer JSW has reported a 5% drop month-on-month in crude steel production in April 2021, as a result of diverting oxygen supplies to hospitals to help treat coronavirus infections, the company has said in an announcement via the Bombay Stock Exchange.Capacity utilization was lower month-on-month in April due to prioritizing supplies of liquid oxygen for medical purposes over steel...Read More
Steel rebar prices in Poland jumped during the week to Friday May 14, supported by strong end-user demand and limited supply, with the uptrend expected to sustain in the short-term, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 3,220-3,350 zloty ($856-891) per tonne on Friday, up from 2,970-3,020 zloty per tonne last week....Read More
The United States' pig iron import prices rose further during the week to Friday May 14, with suppliers bullish amid increased demand due to buyers' need to restock. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $640-650 per tonne on Friday, up by $15-20 from $620-635 per tonne the previous week.Offers from Russia was heard in excess of $700 per tonne cfr...Read More
Surging steel demand in the majority of global markets pushed prices up in most regions in the week to Friday May 14. Only the United States deep-sea ferrous scrap market remained inactive, while Chinese scrap prices fell victim to softer prices for finished steel products.Turkey secured European scrap at an increase to satisfy surging finished steel demandHigher offers failed to tempt US exporter...Read More
The price of secondary steel billet in the Indian local market rose by 1,000 rupees ($14) per tonne in the week to Friday May 14 on rising raw material prices and an increase in export opportunities for secondary billet made through the induction furnace (IF) route."Prices of raw materials such as direct-reduction iron [DRI] have increased because most kilns have reduced production, while opportun...Read More
Slab export prices from Brazil increased again amid high demand and a volatile raw materials' market.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was $950-980 per tonne on Friday May 14, up by $40-50 from $900-940 per tonne on May 7.Early in the week, offers and deals from Brazil were at $950 per tonne fob. But producers...Read More
The price of secondary steel billet in the Indian local market rose by 1,000 rupees ($14) per tonne in the week to Friday May 14 on rising raw material prices and an increase in export opportunities for secondary billet made through the induction furnace (IF) route."Prices of raw materials such as direct-reduction iron [DRI] have increased because most kilns have reduced production, while opportun...Read More
Import prices for flat-rolled steel in South America increased once again in the week ended Friday May 14, with all products above $1,000 per tonne - some for the first time ever - on significantly higher offers from all origins.Despite an export tax rebate in China being cut only for heavy plate, hot-rolled coil and pre-painted across the flat steel space, the effect was spilling over through the...Read More
Eastern China's Shagang will participate in a mixed ownership reform of central China's Anyang Iron & Steel, and the former is likely to emerge as the controlling shareholder in the latter, according to a notice released by Anyang Steel late on Thursday May 13.The change in shareholding will neither influence the steel production of the two mills - based in the provinces of Jiangsu and Henan...Read More
Slab export prices from Brazil increased again amid high demand and a volatile raw materials' market.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was $950-980 per tonne on Friday May 14, up by $40-50 from $900-940 per tonne on May 7.Early in the week, offers and deals from Brazil were at $950 per tonne fob. But producers...Read More