Brazilian domestic flat steel prices dipped in November after a series of discounts and amid weakening market demand.Steel producers started granting discounts on spot prices for coil in late September and October, which sparked a fight for market share among sellers, leading to additional price reductions.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Braz...Read More
A wide gap between bids and offers in the major deep-sea markets for ferrous scrap prevented deals being made for much of the week ended Friday November 12, sources have told Fastmarkets.?EUR?Turkey steelmakers struggle to buy December-delivery scrap?EUR?US suppliers resist lower bids amid tight supplies?EUR?Vietnam quiet amid volatile markets?EUR?Bids, offers remain far apart in cfr China market?...Read More
Fastmarkets' assessment of the zinc treatment charge (TC) was stable for a third time in a row on November 12, with a negative arbitrage and sufficient domestic production for winter stockpiles keeping Chinese smelters at bay.The zinc spot concentrate TC, cif China was assessed at $75-88 per tonne on Friday, unchanged since September 24. With only a few deals reported this week, smelter purch...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
The United Kingdom inter-merchant light-iron steel scrap spot price was steady for the second consecutive week as of Friday November 12, with tight supplies from lower scrap generation and competitive dockside trading supporting the British domestic market, trade sources said.The UK market has also garnered support from domestic monthly prices into British steelworks that settled ?20-25 ($27-33)...Read More
Steel wire rod prices were largely unchanged in the week ended Friday November 12, but mills are mulling an attempt to increase offers for December, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was stable at 3,850-3,950 zloty ($954-979) per tonne on November 12.Trading during the assessment period was slower than the...Read More
The seaborne low-volume pulverized coal injection (PCI) cfr price plummeted in the week to November 12 on the latest trades and offers. The fourth round of Chinese domestic coke price cuts began, and seaborne coking coal prices in both the cfr and fob markets were relatively flat on Friday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $522.01 per tonne, unchangedHard coking coal,...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 12.Zihao Li, Yingchi Yang and...Read More
The trade agreement between the EU and the US to replace Section 232 tariffs with a quota system has received a positive wecome from Europe's long steel producers, sources told Fastmarkets this week.The European Union and the United States came to an agreement on October 30, although United Steelworkers International president Tom Conway said at the time that the volumes permitted to come in from...Read More
Local and export prices for hot-dipped galvanized coil decreased in Turkey in the week to Friday, November 12, with buyers holding back in anticipation of further price falls, sources told Fastmarkets.Demand for color-coated coil in the domestic market, meanwhile, improved because of low stock levels at end users, the sources added.Domestic pricesFastmarkets' weekly price assessment for steel HDG...Read More
The market for pig iron exports from the south of Brazil remained stable during the week ended Friday November 12 due to limited trading.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-510 per tonne on Friday, unchanged week on week.Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 12.Zihao Li, Yingchi Yang and...Read More
Seaborne iron ore prices edged lower on Friday November 12, after more steel mills took the opportunity to carry out blast furnace maintenance after margins tightened significantly over the week, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.69 per tonne, down $2.88 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.39 per tonne, down $2.64 per tonn...Read More
Domestic steel rebar prices in Poland held stable during the week to Friday November 12 amid slower buying activity, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was unchanged week on week at 3,700-3,750 ($917-929) zloty per tonne on Friday.Trading activity was rather slow over the past seven days, partially due to a shorter working...Read More
Base metal prices on the London Metal Exchange mostly closed higher on Friday November 12, with aluminium and nickel emerging as the week's strongest performers.Three-month aluminium reached an intraday high of $2,714 per tonne on Friday, its highest since November 4.The light metal closed slightly lower at $2,700 per tonne, marking a 3.6% gain since the start of the week, when it was at $2,605 pe...Read More
United Kingdom monthly price settlements for steel scrap deliveries into domestic steelmakers increased by ?20 ($26.78) or ?25 per tonne for November, depending on grade, on tight supply due to fewer arisings from new car production, and strong British scrap export markets.Scrap suppliers won increases of ?25 per tonne for low residual and clean grades of scrap, and around ?20 per tonne for ot...Read More
Key data from the Friday November 12 pricing session in LondonKey driversInternational spot cobalt metal prices continued to post daily gains during the week with tight availability of certain brands and an increase in consumer inquiries.Strength filtering through from ongoing long-term...Read More
Prices for flat-rolled steel products imported into South America fell further in the week to Friday November 12 amid lower offers from China and weakening demand from clients on both coasts of the continent, market participants have said.January-shipment negotiations had not yet gained traction, with buyers holding back in anticipation of even cheaper offers and with traders concerned about booki...Read More
Prices for shredded steel scrap imported into Pakistan and India diverged on Friday November 12; the latter weakened and halted purchases, sources told Fastmarkets.PakistanTraders opted to sell their material into the Pakistan market during the week after the nearby Indian market underwent a downward correction, while Pakistan prices remained firm.Fastmarkets calculated its weekly steel scrap, shr...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More