Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.The Turkish lira weakened sharply at the beginning of the week following the surprise decision by president Recep Tayyip Erdogan to sack central bank chief Naci Agbal and appoint a finance specialist,...Read More
Japanese steel scrap suppliers are limiting the volume of material they are offering to the market, in the expectation of a short-term recovery in prices, sources told Fastmarkets on Wednesday March 24."The supply side is stopping new offers and they feel the market will not decrease anymore," a Japanese steel scrap trader said.A second trading source added: "The Japanese domestic scrap market has...Read More
The trading stalemate in the Chinese ferrous scrap import market has remained over the past day, with buyers keeping their distance from purchasing amid limited offers from sellers.Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $460-470 per tonne on Wednesday March 24, unchanged from a day earlier.Major Chinese steel mills have not shown firm interest...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
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday March 24, while those on the Shanghai Futures Exchange were for the most part weaker, following Tuesday's weakness on the LME.Asian-Pacific equities were generally nervous this morning, and low US treasury yields suggest risk-offStronger US dollar may prove to be a headwind for metals Base metalsLME three-month base...Read More
Domestic prices for heavy steel plate increased over the week to Wednesday March 24, supported by demand recovery and high costs for steel slab, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?700-720 ($832-856) per tonne on March 24, up by ?,?35-40 per tonne from ?,?665-680 per tonne a week earlier.The assessment was...Read More
Domestic prices in Europe for steel cold-rolled coil increased further over the week to Wednesday March 24 due to a materials shortage combined with good demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?900-930 ($1,070-1,106) per tonne on March 24, up by ?,?10-20 per tonne from ?,?880-920 per tonne a week earlier.The as...Read More
Fastmarkets launches a weekly price assessment for domestic steel hot-rolled coil in Spain from today, Wednesday March 24.Following a month-long consultation period, Fastmarkets has launched a weekly assessment of the price for steel hot-rolled coil, domestic, exw Spain, ?,? per tonne.This new assessment for domestic HRC prices in Spain and the daily index for similar material in Italy, launched o...Read More
Prices for steel hollow sections in Europe moved up in the week to Wednesday March 24 after mills sought to pass on higher feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?890-920 ($1,058-1,094) per tonne on Wednesday, up from ?,?860-890 per tonne the previous week.The price of hot-rolled coil (HRC...Read More
Steel rebar prices in the north of Europe were stable in the week to Wednesday March 24, despite subdued buying activity, because of high feedstock prices, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?630-660 ($749-785) per tonne on Wednesday, unchanged for the second week in a row. The assessment...Read More
Domestic steel wire rod prices in the north of Europe were firm despite buyers' push for discounts, supported on good order books at mills, high scrap values and limited imports, Fastmarkets heard on March 24.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?660-690 ($785-820) per tonne on Wednesday, stable for the past three we...Read More
Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.The Turkish lira weakened sharply at the beginning of the week following the surprise decision by president Recep Tayyip Erdogan to sack central bank chief Naci Agbal and appoint a finance specialist,...Read More
Japanese steel scrap suppliers are limiting the volume of material they are offering to the market, in the expectation of a short-term recovery in prices, sources told Fastmarkets on Wednesday March 24."The supply side is stopping new offers and they feel the market will not decrease anymore," a Japanese steel scrap trader said.A second trading source added: "The Japanese domestic scrap market has...Read More
The trading stalemate in the Chinese ferrous scrap import market has remained over the past day, with buyers keeping their distance from purchasing amid limited offers from sellers.Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $460-470 per tonne on Wednesday March 24, unchanged from a day earlier.Major Chinese steel mills have not shown firm interest...Read More
China's domestic rebar prices regained upward momentum on Wednesday March 24, due to falling market stocks and a hike in futures values.DomesticEastern China (Shanghai): 4,720-4,740 yuan ($724-727) per tonne, up by 20 yuan per tonneTrading houses said rebar stocks have been gradually dropping over the past week because of reduced supplies from Tangshan and "not-bad" demand in the mild weather.Reba...Read More
Prices for steel hollow sections in Europe moved up in the week to Wednesday March 24 after mills sought to pass on higher feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?890-920 ($1,058-1,094) per tonne on Wednesday, up from ?,?860-890 per tonne the previous week.The price of hot-rolled coil (HRC...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
China released its 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 on March 12 following the annual meetings of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC).Fastmarkets summarizes five key targets under the new five-year plan that are likely to underpin corres...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
Prices for molybdic oxide and ferro-molybdenum continued on a downtrend during the first half of this week, with buyers holding out in anticipation of cheaper prices ahead.Fastmarkets' price assessment for ferro-molybdenum, 65% Mo min, in-whs Rotterdam, fell to $26.40-26.60 per kg on Wednesday March 24, down by 2.1% from $26.85-27.30 per kg on March 19.The corresponding price assessment for molybd...Read More