Independent traders in Europe have joined forces to oppose the extenstion of safeguard measures against 26 steel product categories, sources told Fastmarkets on Tuesday, March 16.A consortium of 33 mostly medium and small businesses connected to the steel trade and steel processing have teamed up to form 'Companies Against Import Restrictions' (Cair) to fight against protectionism in the Euro...Read More
Steel rebar and wire rod producers in the Commonwealth of Independent States (CIS) had to decrease their asking prices to foreign customers in mid-March because of unsupportive market fundamentals.Falling prices for steel scrap and for iron ore in the week ended March 12, together with insufficient demand for finished long steel products, forced suppliers to cut their offers to attract customers.R...Read More
Prices for No1 busheling steel scrap in Mexican main markets increased in the week ended on Friday March 12, while upward pressures grew for other grades as well.Buyers continued to increase prices for prime scrap to secure volumes. In rare cases, the material was heard trading above 10,000 pesos ($473) after the second consecutive week of strong buying activity.Prices of obsolete grades, suc...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
Falling steel scrap prices in Japan and continued uncertainty over whether Chinese port authorities will allow ferrous scrap cargoes to discharge remain key considerations for buyers in China, many of whom lowered their bids this week, sources said.Bids for heavy scrap (HS) from buyers peaked at $480 per tonne cfr China on Tuesday March 16, while offers were at $480-499 per tonne cfr China.South K...Read More
Export prices for steel billet in the Black Sea basin have continued to soften in mid-March amid a lack of trading activity, Fastmarkets has heard.Customers preferred to refrain from billet bookings while the costs for steel scrap and finished long steel products were falling.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $430.63 p...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
Finished steel production at member mills of the China Iron & Steel Association (Cisa) decreased by 10.97% over the March 1-10 period, compared with the preceding eight days, according to data published by the association on March 13.March 1-10 outputCrude steel: 2.27 million tonnes per day, down 2.08%Finished steel: 2.12 million tpd, down...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 16.Read More
Prices for No1 busheling steel scrap in Mexican main markets increased in the week ended on Friday March 12, while upward pressures grew for other grades as well.Buyers continued to increase prices for prime scrap to secure volumes. In rare cases, the material was heard trading above 10,000 pesos ($473) after the second consecutive week of strong buying activity.Prices of obsolete grades, suc...Read More
Domestic prices for hot-rolled coil in Northern Europe have been supported by a material shortage in the market, sources told Fastmarkets on Tuesday March 16.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?792.50 ($943.31) per tonne on March 16, up by just ?,?1.25 per tonne from ?,?791.25 per tonne on Monday March 15.The index was also up by ?,?36....Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
Treatment and refining charges for copper concentrate fell again to new 10-year-lows in the week ended Friday March 12, with Fastmarkets' copper concentrate index dropping to less than $30 per tonne/3 cents per lb for the first time.The spot market has been in a prolonged downtrend since 2014, but a recent bout of tightness has seen terms dip by 27% in the past two weeks.TC/RCs, which are discount...Read More
The prices of lead, zinc and copper showed the steepest declines on the London Metal Exchange at the close of trading on Tuesday March 16, with the US Dollar Index at its highest for a week at 91.91 and the market braced for a US Federal Reserve policy announcement on Wednesday."Market attention will turn to the US Federal Reserve's two-day policy meeting, which will conclude on March 17. The gene...Read More
Cancellations of aluminium out of London Metal Exchange warehouses in Port Klang, Malaysia, have begun, after more than 600,000 tonnes was delivered over the past week.About 85,000 tonnes were shown as freshly canceled on March 16, with 83,850 tonnes of that at Port Klang and additional, small cancellations in Johor and Singapore.Market participants told Fastmarkets they believe big queues could b...Read More