Prices in Turkey for steel hot-rolled coil came close to $1,000 per tonne during the week ending Thursday April 1, with producers fully booked until late July, sources have told Fastmarkets.Demand was strong in the country because of low stock levels, as well as the expectation of more price increases.Most market participants expected further price increases next week, because of globally high pri...Read More
Hot-dipped galvanized (HDG) and pre-painted galvanized iron, or color-coated coil, prices in Turkey increased as expected during the week to Thursday April 1, with demand still strong, sources told Fastmarkets.The price increases were expected due to strong demand and globally high prices, along with continuously rising production costs.Prices for hot-rolled coil (HRC) - the base product for...Read More
Exporters of billet from the Commonwealth of Independent States (CIS) region remained bullish despite the lack of trading activity in the Black Sea basin this week, sources told Fastmarkets on Thursday April 1.The producers remained positive amid expectations of price rises in China due to the possible removal or reduction in its export tax rebate, along with the recovery in finished long steel pr...Read More
A global shortage of steel slab is a key factor in rocketing flat steel prices, market sources told Fastmarkets this week.Reduced CIS suppliesCustomers from Italy and Turkey have noticed a reduction in the availability of steel slab originating in the Commonwealth of Independent States (CIS) region in the second half of March."Some Italian re-rollers cannot produce much coil and plate due to missi...Read More
Steelmaker JSW has started production on a new 5 million tonnes-per-year hot-strip mill at its Dolvi Works in Maharashtra, India, the company said in a note to the Bombay Stock Exchange on Thursday April 1.Fastmarkets weekly price assessment for steel heavy plate domestic, ex-whse...Read More
Turkish billet prices have strengthened over the past week in line with improving finished steel and scrap values, market sources said on Thursday April 1. Turkish steel mills paid slightly higher prices for scrap in the past week, following increasing rebar export sales into Southeast Asia. Several steel producers were heard selling good tonnages to Southeast Asia at $625-636 per tonne fob o...Read More
The pig iron import market in the United States was slow during the week to Thursday April 1 due to the large gap between the workable price estimates for buyers and from suppliers in the Commonwealth of Independent States.Consequently, Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $555-565 per tonne on Thursday, unchanged week on week."The US is the only market w...Read More
The spot price for light iron steel scrap in the United Kingdom went up during the week to Thursday April 1, climbing with domestic dealers competing more keenly for supplies against firmer demand for exports out of Europe to the key overseas buyer, Turkey, sources have told Fastmarkets.The price was up mostly in areas close to UK ports, where domestic steel scrap demand was strongest from major s...Read More
Offer prices to the key import steel scrap market in Bangladesh have gone up over the past week, but demand for scrap material was low ahead of the Islamic holy month of Ramadan, sources told Fastmarkets on Thursday April 1.Import markets across Asia have received higher offers for steel scrap this week, with strong rebar and billet markets giving many steelmakers excellent margins and more room t...Read More
Steel mills around the world are buying ferrous scrap at higher prices, spurred by rebounding downstream steel prices in the rebar and billet markets.Turkey sees price rebound and correction in one weekUS sees sales to Turkey, AsiaVietnamese mills increase bidsChinese buyers also raise bidsTight scrap supplyin TaiwanIndian prices higher on good sentiment.TurkeyA major Turkish steel mill supported...Read More
Turkish deep-sea scrap import prices have made a downward correction with the latest cargo sold from Europe, sources told Fastmarkets on Thursday April 1.A steel mill in the Marmara region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (80:20), 10,000 tonnes of shredded and 10,000 tonnes of bonus at an average price of $421 per tonne cfr.The previous cargo sold into Turkey from the U...Read More
Prices for shredded steel scrap imported into India and Pakistan moved back up in the week to Thursday April 1 on good market sentiment, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $443.30 per tonne on Thursday, up from $423.29 per tonne on March 26.No deals were heard on the market this week, but offers were heard...Read More
Iron ore prices went up on Thursday April 1, largely due to support from rising steel prices, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $167.60 per tonne, up $2.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.52 per tonne, up $1.94 per tonne58% Fe fines high-grade premium, cfr Qingdao: $150.19 per tonne, up $3.20 per tonne65% Fe Brazil-origin fines, c...Read More
The zinc price was down the most in the London Metal Exchange base metals complex on the morning of Thursday April 1, with most of the others also drifting lower after a lackluster month's end for the metals on Wednesday. Zinc's three-month price was down to $2,788 per tonne on Thursday at 9am, from its closing price on Wednesday of $2,818.50 per tonne. This comes after the metal was mostly u...Read More
Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.United States treasury 10-year yields remain upbeat, as does the dollar China's Caixin manufacturing purchasing managers' index (PMI) at 50.6 showed slower growth in March, compared with 50.9 in Februar...Read More
Tightening prompt supply in Europe and continuing shipping delays pushed manganese flake prices to a nine-year high this week, with planned production cuts in China this month adding to the bullish sentiment.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam climbed by 4.9% to $3,000-3,150 per tonne on Wednesday March 31, up from the previous week's a...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
European titanium scrap prices have increased by more than 5% over the week to Wednesday March 31 while the range for ferro-titanium is narrowing, applying a squeeze on margins for producers of the alloy, according to industry sources. Scrap markets for turnings are over $2 per lb cif Europe, with suppliers increasing their offer prices amid a persistent downturn in the aerospace sector; aircraft...Read More
China's domestic stainless steel prices narrowed up slightly in the week to Wednesday March 31 on strong demand and dropping inventories.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 15,300-16,100 yuan ($2,330-2,452) per tonneThe price narrowed upward by 100 yuan per tonne from the previous week.Solid demand for downstream products led to active purchasing of stainless st...Read More