The market for ferro-chrome in Europe continued to strengthen during the week to Tuesday March 16, with some producers successfully raising their offer prices and other participants reporting the market to be unmoved.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe widened upward by $0.03 per lb Cr, or 1.2%, to $1.15-1.40 per lb...Read More
Bearish sentiment and lower bids for chrome ore in China have followed a period of restocking in southern China, while demand in Inner Mongolia remains muted, according to market participants.Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China fell by $8 (4.4%) to $172 per tonne on Tuesday March 16, from $180 per tonne a week earlier.Portside UG2 chrome ore prices have...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Turkish deep-sea scrap import prices have been weakening recently because of strong supplies, with steelmakers also staying away from the market due to limited steel sales, sources said on Wednesday March 17.The most recent deep-sea bookings occurred at the end of the last week, when two Baltic Sea cargoes were sold at $435-437 per tonne cfr on HMS 1&2 (80:20) basis.Since then, steel mills in Turk...Read More
Japanese steel scrap exporters are facing acute problems in sourcing vessels in which to make shipments, leading to an oversupply of scrap at exporters' yards which in turn is driving down prices, market sources told Fastmarkets on Wednesday March 17.Rising freight rates have been inflating cfr-basis scrap and steel prices across Asia in recent weeks but the situation in Japan is now so severe tha...Read More
ArcelorMittal has launched three new initiatives that will help it meet its net zero commitment, including a $100 million per year investment fund to develop technology that will support and accelerate the transition to net zero carbon steelmaking, the company said on Wednesday March 17. Innovation fund The company aims to deliver on its net zero commitment by 2050 and the $100 million per year "X...Read More
Base metals prices on the London Metal Exchange were mainly firmer on Wednesday March 17, while on the Shanghai Futures Exchange they were weaker across the board. Broader markets were treading water ahead of this evening's US Federal Open Market Committee (FOMC) announcements and press conference. United States 10-year treasuries yields have firmed again to 1.63% EU passenger car registrations ar...Read More
China's nickel plate premiums fell amid a closed arbitrage window while market participants in Europe and the United States reported minimal buying interest in the week to Tuesday March 16.Poor arbitrage muted Chinese nickel plate market.European plate premiums reach balance with great demand for briquetteUS spot buying due to increase post-pandemicChina's nickel premium down; nickel sulfate upwar...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 17 that are worth another look.The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.Treatment charges (TCs)...Read More
Domestic prices for steel hot-dipped galvanized coil in Europe moved up again over the week to Wednesday March 17, due to a material shortage combined with strong demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was ?,?900-930 ($1,073-1,108) per tonne on March 17, up by ?,?10-30 per tonne week on week from ?,...Read More
Italian re-rollers have achieved a price rise in the domestic market for their heavy steel plate, due to the higher cost of steel slab feedstock, sources told Fastmarkets on Wednesday March 17.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?665-680 ($793-810) per tonne on March 17, up by ?,?10-15 per tonne from ?,?650-670 per tonne a week earlier....Read More
Prices for steel hollow sections in Europe were unchanged week-on-week on Wednesday March 17 despite mills taking on higher feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was unchanged at ?,?860-890 ($1,025-1,061) per tonne on Wednesday.The corresponding assessment for steel sections (medium), domestic, deli...Read More
Steel wire rod prices in Northern Europe have remained stable at high levels, with sentiment for April being upbeat on persistent shortages, good demand and limited imports, market sources told Fastmarkets on Wednesday March 17.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?660-690 ($787-822) per tonne on Wednesday, stable for th...Read More
Egypt consumed 471,000 tonnes of reinforcing bar (rebar) in February, down by 30.84% from 681,000 tonnes in the same month last year, according to Ramy Saleh, chief business development officer at Egyptian long steel producer El Marakby Steel.But Egypt's rebar consumption increased by 52.92% month on month, from 308,000 tonnes in January.Egypt's rebar consumption has been...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 17 that are worth another look.The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.Treatment charges (TCs)...Read More
Turkish deep-sea scrap import prices have been weakening recently because of strong supplies, with steelmakers also staying away from the market due to limited steel sales, sources said on Wednesday March 17.The most recent deep-sea bookings occurred at the end of the last week, when two Baltic Sea cargoes were sold at $435-437 per tonne cfr on HMS 1&2 (80:20) basis.Since then, steel mills in Turk...Read More
Japanese steel scrap exporters are facing acute problems in sourcing vessels in which to make shipments, leading to an oversupply of scrap at exporters' yards which in turn is driving down prices, market sources told Fastmarkets on Wednesday March 17.Rising freight rates have been inflating cfr-basis scrap and steel prices across Asia in recent weeks but the situation in Japan is now so severe tha...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 17 that are worth another look.The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.Treatment charges (TCs)...Read More
Export prices for steel billet from the Commonwealth of Independent States (CIS) continued to fall amid a lack of trading activity in the week to Wednesday March 17.Customers took wait-and-see positions, expecting further drops in the prices for raw materials and finished long steel products.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calcula...Read More
Iranian exporters of steel billet and slab enjoyed demand from China in mid-March, with a number of cargoes reported sold to the Asian country over the week to Wednesdau March 17.A trading source reported two small billet cargoes being sold by a trader to another trader for further sale to China at $545 per tonne fob Iranian ports."These 15,000 tonnes will be added to a larger cargo going to China...Read More