The price of austenitic steel scrap in the UK and Europe moved up in the week ended Friday February 26, but a drop in the price of nickel on Friday meant that a downward correction next week was likely, sources have told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,200-1,210 ($1,694-1,708) per tonne on Friday, an...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
Chinese domestic lithium prices continued to rise in the week to Thursday February 25, supported by continued tight spot supply, and most producers are targeting even higher prices in March.China's domestic battery-grade lithium carbonate price increased by 9.9% week on week supported by a lack of supply. Most producers raised their offering prices again this week. The lithium hydroxide marke...Read More
Import prices for flat-rolled steel in South America soared in the week to Friday February 26, boosted by a swift increase in bulk freight rates and higher offers from Chinese mills, returning to the market after the Lunar New Year holiday.By the end of the week, some of offers previously presented to the continent were pulled, due to uncertainties regarding delivery. Reduced availability of cargo...Read More
The price range for Indian hot-rolled coil exports narrowed slightly in the week ended Friday February 26 with HRC prices in Asian markets moving upward.Prices for Indian HRC exports to Europe remained stable even while Indian mills continued to restrain their export tonnages of such material to stay within European quota limits.The price of steel HRC (commodity), export, fob main port...Read More
Domestic prices for steel hot-rolled coil in Northern Europe increased day on day on Friday February 26, with European steelmakers increasing their offers for coil products amid good demand and short supply, sources said.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, ex-works Northern Europe at ?,?738 ($899.86) per tonne on Friday, up by ?,?3 from ?,?735 per tonne the prev...Read More
Brazilian flat and long steel producer Gerdau was carrying out a maintenance stoppage late this month at its integrated steel unit in Ouro Branco city, in the country's southeastern Minas Gerais state.The maintenance work will involve Gerdau's blast furnaces, steel mill and rolling facilities, and was expected to last for three weeks, the company told Fastmarkets on Friday February 26."Supply [of...Read More
Indian secondary steel billet prices have risen by 900 rupees ($12) per tonne in the current week on higher costs for basic raw materials such as direct-reduced iron (DRI), coupled with increased buying of semi-finished steel by makers of long products.The price of steel billet, domestic, exw India, was assessed by Fastmarkets on Friday February 26 at 38,300-38,500 rupees ($527-530) per tonne comp...Read More
The European Commission has started an investigation on the possible extension of existing safeguard measures into 26 steel product categories imported into the European Union, the EC said on Friday February 26. The safeguard measures were imposed for an initial period of three years and will expire on June 30, 2021. The measure currently in force consists of a tariff-rate quota based on hist...Read More
Pakistan's government has said that Fastmarkets' import index for ferrous scrap will be used for customs valuations of ferrous scrap, according to an official ruling published on February 25.The decision came after meetings to determine customs values, held on January 14 and February 3 with key industry stakeholders - including the Federation of Pakistan Chambers of Commerce & Industry (FPCC&I), t...Read More
Indian secondary steel billet prices have risen by 900 rupees ($12) per tonne in the current week on higher costs for basic raw materials such as direct-reduced iron (DRI), coupled with increased buying of semi-finished steel by makers of long products.The price of steel billet, domestic, exw India, was assessed by Fastmarkets on Friday February 26 at 38,300-38,500 rupees ($527-530) per tonne comp...Read More
Steel scrap prices have increased across all major markets over the week to Friday February 26, driven by strengthening steel markets and a jump in bulk freight rates.Turkish mills continue to book cargoes at higher pricesUS export prices rise in sales to South Korea, TurkeyVietnamese buyers juggle tight billet-scrap spreadsTaiwan import market boosted by strong freight ratesIndia market mirrors i...Read More
Export prices of Brazil-origin slab were down by $20 in the week ended Friday February 26, because fresh deals were booked at lower levels.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $740-760 per tonne fob on February 26, down from $760-780 per tonne fob a week earlier.Despite the decrease in prices, market participants believe the current price level is h...Read More
Indian secondary steel billet prices have risen by 900 rupees ($12) per tonne in the current week on higher costs for basic raw materials such as direct-reduced iron (DRI), coupled with increased buying of semi-finished steel by makers of long products.The price of steel billet, domestic, exw India, was assessed by Fastmarkets on Friday February 26 at 38,300-38,500 rupees ($527-530) per tonne comp...Read More
The European Commission has started an investigation on the possible extension of existing safeguard measures into 26 steel product categories imported into the European Union, the EC said on Friday February 26. The safeguard measures were imposed for an initial period of three years and will expire on June 30, 2021. The measure currently in force consists of a tariff-rate quota based on hist...Read More
Key data from the February 26 pricing session in London.Key drivers:Prices drift lower amid less active inquiries, leaving oxide sellers content to accept bids near the lower end of the previous quotes. Bids below...Read More
Pakistan's government has said that Fastmarkets' import index for ferrous scrap will be used for customs valuations of ferrous scrap, according to an official ruling published on February 25.The decision came after meetings to determine customs values, held on January 14 and February 3 with key industry stakeholders - including the Federation of Pakistan Chambers of Commerce & Industry (FPCC&I), t...Read More
The European Commission has started an investigation on the possible extension of existing safeguard measures into 26 steel product categories imported into the European Union, the EC said on Friday February 26. The safeguard measures were imposed for an initial period of three years and will expire on June 30, 2021. The measure currently in force consists of a tariff-rate quota based on hist...Read More
Equipment supplier SMS Group will modernize Turkish steel producer Kardemir's wire rod mill to produce compact coil specifically for transport and container shipping, SMS Group said on Thursday February 25."The outside diameter of the coil will be reduced from 1.080 to 1.040 millimeters. To ensure that the coil height remains unchanged, the inside diameter will be reduced from 850 to 820 millimete...Read More
Export prices of Brazil-origin slab were down by $20 in the week ended Friday February 26, because fresh deals were booked at lower levels.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $740-760 per tonne fob on February 26, down from $760-780 per tonne fob a week earlier.Despite the decrease in prices, market participants believe the current price level is h...Read More