Steel rebar prices in Egypt remained unchanged during the week to Thursday, March 25, while buyers expect prices to decrease for orders to be placed for April production, sources told Fastmarkets.Local rebar prices in Egypt have been left unchanged since December 27.The reason behind such stable prices is the construction ban in effect in the country since May 2020. Even after the ban was eas...Read More
The Commonwealth of Independent States (CIS) export billet price dropped on Thursday March 25 after customers lowered bids following the decrease in scrap and finished long steel segments, sources said.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $404.66 per tonne on Thursday, down by $24.15 per tonne day on day.The Turkish s...Read More
Turkey's domestic long steel prices increased over the past week because of the sharp downturn in the country's currency, market sources said on Thursday March 25.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey was 5,550-5,650 lira ($701-713) per tonne on Thursday, up from 5,300-5,480 lira per tonne the week before, including 18% VAT.The Turkish lira we...Read More
Mid and high-grade iron ore prices diverged on Thursday March 25 amid steelmakers adjusting consumption appetite toward the high-grade materials, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $159.85 per tonne, down $1.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.13 per tonne, up $0.16 per tonne58% Fe fines high-grade premium, cfr Qingdao: $146.97 per tonne, up $1...Read More
The seaborne premium hard coking coal price edged higher in both the cfr and fob markets on Thursday March 25 with new replenishment demand from some end-users, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.77 per tonne, up $0.81 per tonnePremium hard coking coal, cfr Jingtang: $213.45 per tonne, up $1.45 per tonneHard coking coal, fob DBCT: $104.85 per tonne, up $0.20 p...Read More
The Brazilian chamber of construction industry, CBIC, has requested the federal government to reduce steel import duties amid tight supply and soaring prices.It made this request at a meeting between main industry groups that form part of the steel value chain in Brazil and representatives of the country's economy ministry, which discussed the current supply situation, on Tuesday March 23.The even...Read More
China's stainless steel prices increased in the week ended Wednesday March 23 on steady domestic demand, though export activity was down amid concerns over a possible reduction of the country's export tax rebate.Nickel prices picked up slightly, which gave additional support to stainless steel prices.The three-month nickel contract on the London Metal Exchange ended the official trading session on...Read More
The United States International Trade Commission has found evidence of injury to the domestic market arising from imports of silicon from Kazakhstan, Iceland and Bosnia & Herzegovina, it announced on Wednesday March 24.The decision meant that a conclusion was in sight in this much-anticipated silicon metal trade case, which has involved some of the highest duties ever seen by the industry.The ITC...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.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...Read More
Cobalt buyers have continued to sit back from the spot market this week, triggering lower offers and further profit-taking after strong price gains over January and February. Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam was $23.25-24.15 per lb on Wednesday March 24, widening downward by $0.25 from $23.50-24.15 per lb a day earlier.Similarly, the price assessment for co...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EDT. Consensus for February Personal Income was a drop of 7.0% versus a revised gain of 10.1% in January. Actual was a drop of 7.1%. Consensus for February Personal Spending was a drop of 0.7% versus...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 24.Please click...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More
The San Gerardo open-pit zinc-lead mine in Peru, part of the Atacocha plant, has resumed activities after 20 days of downtime because of community demonstrations that were blocking the road to the facilities, Brazilian base metals producer Nexa Resources said on Tuesday March 23.The ramp-up to full production was expected to take 3-5 days, the company added. The full effect of the temporary halt w...Read More
Minera Los Pelambres, the copper mine in Chile operated by Antofagasta, has reached a new labor deal with the trade union representing its employees following a period of government-mediated negotiations, the company said on Tuesday March 23.The new agreement will be valid for 36 months, and includes improvements in benefits and operational practices, as well as a bonus for agreeing the deal, the...Read More
Slow trading activity amid poor demand pressured China's spot ferro-chrome prices down in the week to Tuesday March 24, with weakened sentiment clouding the near-term outlook with signs of easing supply tightness against a falling UG2 chrome ore market, sources said.Fastmarkets' assessment of the ferro-chrome spot 6-8% C, basis 50% Cr, ddp China price moved down by 200 yuan ($30.69) to 8,500-8,700...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford and...Read More