An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
The price of austenitic stainless steel scrap in the UK and Europe moved higher over the past seven days on the back of rising nickel costs in first half of the week, sources told Fastmarkets on Friday March 26.Nickel prices retreated in the second half of the week, however, wiping out most of the gains and halting the upward momentum in the stainless scrap market. Nonetheless, Fastmarkets' weekly...Read More
The spot price for light iron steel scrap in the United Kingdom was steady during the week to Friday March 26, stabilizing losses from last week amid firm fundamentals in the domestic market, sources told Fastmarkets.A sharp fall in European steel scrap export prices seen on Thursday may be short-lived, according to sources, with a pick-up seen the next day in steel rebar buying inquiries into Sou...Read More
Deep-sea scrap import prices in Turkey plunged this week but a recovery in rebar exports was expected to bring support to the market soon, while markets in Asia, apart from China, have already felt the revival.Scrap exporters in the United States, however, were lowering their buy prices during the working week from Monday March 22 to Friday March 26. Turkish import prices crash, but set to recover...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were for the most part stronger this morning, Friday March 26, suggesting overall sentiment remains bullish while participants see dips as a buying opportunity. Asian-Pacific equities were generally stronger this morningThe US Dollar Index was strong tooBase metalsLME three-month base metals prices were up across the...Read More
Key data from pricing session in London on Friday March 26.Key drivers: Parcels of metal continue to be available below the previous range from those looking to take profit, with some traders now reporting being interested in buying now that the low end of...Read More
Battery-grade lithium prices in both Asian seaborne and domestic China markets were firm this week, with the former receiving aggressive offers from Chinese suppliers, market participants told Fastmarkets.Asian seaborne lithium prices were steady against a backdrop of tight availability and firm demand; meanwhile Chinese suppliers have made aggressive offers for battery-grade lithium carbonate. Sp...Read More
Import prices for flat-rolled steel went up in South America during the week ended Friday March 26, with resilient demand but China out of the export market, leaving only higher priced material from traders and Japanese mills to be bought.The vast majority of Chinese steelmakers decided to hold back from the market since their government had not yet decided on a cut in the export tax rebate for st...Read More
Domestic prices for hot-rolled coil in Europe were up day on day on Friday March 26, with ArcelorMittal further increasing its offer prices, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil (HRC) index, domestic, exw Northern Europe at ?,?835.00 ($985.09) per tonne on Friday March 26, up by ?,?13.33 per tonne from ?,?821.67 per tonne on March 25.The index was also up...Read More
The rapid increase in Covid-19 infections in Brazil, a shortage of auto parts and the decision by authorities to bring holidays forward prompted at least four more Brazilian automakers to suspend their production sites in the week to Friday March 26, Fastmarkets understands. Renault, Daimler under its Mercedes-Benz brand, Nissan and Toyota are the latest manufacturers to announce a suspension of a...Read More
The domestic steel rebar market in Poland was static over the week to Friday March 26 amid slow buying, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 2,900-2,930 ($738-746) zloty per tonne on Friday, the same as seven days earlier.Rebar was heard traded in the secondary market at about 2,900-2,910 zloty per tonne delivered...Read More
Domestic prices for steel wire rod in Poland moved up sharply in the week to Friday March 26 on bullish offer from producers with sources expecting new levels to be accepted eventually amid shortages and limited imports, Fastmarkets heard.Fastmarkets' assessment for steel wire rod (drawing quality), domestic, delivered Poland jumped to 3,060-3,100 zloty ($779-789) per tonne, up from 2,970-3,000 zl...Read More
Rebar prices in eastern China stopped rising on Friday March 26 amid selling pressure though the futures market registered strong gains. Prices in the region ended the week 60 yuan per tonne higher.DomesticEastern China (Shanghai): 4,750-4,770 yuan ($726-729) per tonne, unchangedNorthern China (Beijing) weekly assessment: 4,660-4,680 yuan per tonne, up by 80-100 yuan per tonneBillet prices rose th...Read More
The price of austenitic stainless steel scrap in the UK and Europe moved higher over the past seven days on the back of rising nickel costs in first half of the week, sources told Fastmarkets on Friday March 26.Nickel prices retreated in the second half of the week, however, wiping out most of the gains and halting the upward momentum in the stainless scrap market. Nonetheless, Fastmarkets' weekly...Read More
The spot price for light iron steel scrap in the United Kingdom was steady during the week to Friday March 26, stabilizing losses from last week amid firm fundamentals in the domestic market, sources told Fastmarkets.A sharp fall in European steel scrap export prices seen on Thursday may be short-lived, according to sources, with a pick-up seen the next day in steel rebar buying inquiries into Sou...Read More
Deep-sea scrap import prices in Turkey plunged this week but a recovery in rebar exports was expected to bring support to the market soon, while markets in Asia, apart from China, have already felt the revival.Scrap exporters in the United States, however, were lowering their buy prices during the working week from Monday March 22 to Friday March 26. Turkish import prices crash, but set to recover...Read More
Export prices for Brazil-origin steel slab remained stable in the week ended Friday March 26, with demand steady and clients booking fresh deals.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $780-810 per tonne fob on Friday, unchanged from the previous week.Deals were reported within the range of $800-810 per tonne fob to clients in the United States, with...Read More
Prices for steel billet imported to Southeast Asia have been inflated by buying prices to China over the last week, market participants told Fastmarkets on Friday March 26. Offers for Vietnam-origin 5sp billet were heard at $615 per tonne cfr Manila during the week, while Far East Russia-origin material was heard offered at $605 per tonne cfr on Wednesday, with India-origin 125-mm billet heard off...Read More
China exported 1.81 million tonnes of hot-rolled coil in the first two months of 2021, an increase of 150% from the same year-earlier period, according to the country's customs data.Vietnam was the biggest buyer of Chinese HRC in January and February with 709,228 tonnes, accounting for 39% of China's total exports. China's exports of hot-dipped galvanized flat steel also exceeded one million tonne...Read More
The rapid increase in Covid-19 infections in Brazil, a shortage of auto parts and the decision by authorities to bring holidays forward prompted at least four more Brazilian automakers to suspend their production sites in the week to Friday March 26, Fastmarkets understands. Renault, Daimler under its Mercedes-Benz brand, Nissan and Toyota are the latest manufacturers to announce a suspension of a...Read More