Key data from Fastmarkets' pricing session in Europe on Wednesday March 17. Key drivers Prompt supply in Europe is limited and spot demand is good, market sources said. Availability in Europe has been tight since the second half of last year because China has been importing large volumes of material amid a better demand outlook than in Europe. But weakening prices for substitute fer...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
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
China's cold-rolled coil (CRC) export market was active in the past week despite the possibility of export rebate cuts, while hot-dipped galvanized coil (HDG) export activity was limited, market sources told Fastmarkets.Cold-rolled coilFastmarkets' weekly price assessment for steel cold-rolled coil, export, fob China main port was $805-810 per tonne on Tuesday March 16, up by $5-15 per tonne from...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
British Steel will invest ?100 million ($139 million) this year in improving its manufacturing operations and supporting clean growth, the company said on Wednesday March 17. The money will help to finance projects including a new billet caster, a scrap pre-heating facility, cranes and a new environmental emission control system. The steelmaker has returned to profit after being bought out o...Read More
Sales of passenger cars in the EU dropped by 19.34% year on year in February 2021, the European Automotive Manufacturers Association (ACEA) said on Wednesday March 17.New car sales in the EU totaled 771,486 vehicles in February 2021, down from 956,430 units sold in the corresponding month of 2020."New passenger car registrations in the European Union dropped by 19.3% while Covid containment...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
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 17.Please click...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
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
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 17.Please click...Read More
The price of aluminium on the London Metal Exchange reached a new year-to-date high during trading on Wednesday March 17 at $2,246.50 per tonne, and tin's price had gone up by more than $700 per tonne at the close.The wider markets were awaiting direction from the a meeting later in the day of the Federal Open Market Committee (FOMC) of the US Federal Reserve Bank.Tin's three-month price was $25,7...Read More
Iron ore prices were slightly weaker on Wednesday March 17 amid limited trading activity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.19 per tonne, down $0.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.27 per tonne, down $0.13 per tonne58% Fe fines high-grade premium, cfr Qingdao: $151.99 per tonne, down $0.73 per tonne65% Fe Brazil-origin fines,...Read More
Domestic prices for steel hot-rolled coil in Europe increased again over the week to Wednesday March 17, due to a shortage of material combined with solid demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?791.25 ($943.04) per tonne on Wednesday, down by just ?,?1.25 per tonne from ?,?792.50 per tonne on March 16...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 17. Key drivers Prompt supply in Europe is limited and spot demand is good, market sources said. Availability in Europe has been tight since the second half of last year because China has been importing large volumes of material amid a better demand outlook than in Europe. But weakening prices for substitute fer...Read More
Prices for 300-series stainless scrap grades in the United States have continued to fall in the wake of a collapse in the nickel cash price on the London Metal Exchange early this month.The LME's nickel cash contract has dropped by 18.07% since hitting a more than six-year high of $19,689 per tonne ($8.93 per lb) on February 22. The price stood at $16,131 per tonne ($7.32 per lb) as of the officia...Read More
Fastmarkets has renamed its China alumina assessment as ex-works (exw) China, from delivered duty paid (ddp) China, effective Wednesday March 17.This corrects a labeling error that had been in place since the launch of the alumina metallurgical grade assessment in September 2006. Current and historical data reflects alumina metallurgical...Read More
The price of aluminium on the London Metal Exchange reached a new year-to-date high during trading on Wednesday March 17 at $2,246.50 per tonne, and tin's price had gone up by more than $700 per tonne at the close.The wider markets were awaiting direction from the a meeting later in the day of the Federal Open Market Committee (FOMC) of the US Federal Reserve Bank.Tin's three-month price was $25,7...Read More