Fresh deals to South Korea and Taiwan have raised Japanese export scrap prices over recent days, market participants told Fastmarkets on Wednesday February 24.Bullish sentiment in the market was underpinned by major Japan steel scrap buyer Tokyo Steel raising its buy prices by ?500 per tonne across all factories on Wednesday. The price hike, the second this week of its kind, means the steelmaker...Read More
Higher Japanese offers are heating up prices in the China import scrap market, sources told Fastmarkets on Wednesday February 24.Chinese buyers have focused more on procuring steel billet imports since the market returned from its Lunar New Year holidays earlier this month, with few recent scrap sales heard.Fastmarkets' price assessment of steel scrap, heavy recycled steel materials was at $470-47...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.US Federal Reserve Chairman Jerome Powell told Congress that rates would stay low and the central bank would maintain strong support for the economyAsian-Pacific equitie...Read More
The Chinese domestic price of cobalt metal surged in the first half of this week amid tightened supply and robust demand from the battery supply chain.Fastmarkets' assessment of cobalt 99.8% Co min, ex-works China rose to 390,000-420,000 yuan ($60,450-65,100) per tonne (approximately $24.26-26.13 per lb less China value-added tax) on Wednesday February 24, up by 11.3% from 358,000-370,000 yuan per...Read More
Premiums for nickel plate and briquette in China were flat in the week to Tuesday February 23 amid a lack of spot activity, but the nickel sulfate price in the country rose to a fresh all-time high, with a robust domestic electric vehicle (EV) market providing support.Premiums in Europe were also unchanged this past week, as were those for briquette in the United States, but US cut cathode premium...Read More
Domestic prices for hot-dipped galvanized coil increased again in Europe over the week to Wednesday February 24, due to a material shortage, sources have told Fastmarkets.In addition, demand from both end-consumers and distributors has been high, market participants said.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was ?,?850-870 ($1,033...Read More
Domestic prices for steel heavy plate decreased in Italy over the week to Wednesday February 24 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?630-640 ($766-778) per tonne on February 24, down by ?,?10 per tonne week on week from ?,?640-650 per tonne.The assessment was based on offers and deals he...Read More
Domestic prices for steel hot-rolled coil in Europe continued to recover over the week to Wednesday February 24, supported by material shortages combined with good demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?730.68 ($888.23) per tonne on Wednesday, up by ?,?4.68 per tonne from ?,?726.00 per tonne on Februa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said...Read More
Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said on Wednesday February 24.The CEO estimates that the domestic rebar premium over imports reached 15% in February, and that the premium for domestic hot-rolled coil climbed to 11%. There is still cost...Read More
Prices for steel hollow sections in Europe were unchanged over the past week, but mills were said to be considering a round of increases, sources told Fastmarkets on Wednesday February 24.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?860-880 ($1,045-1,070) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil - the feed...Read More
Turkish deep-sea scrap import prices continued to rise after fresh transactions came to light on Wednesday February 24, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 5,000 tonnes of bonus at $455 per tonne cfr late on Tuesday February 23.Another steel mill in the same...Read More
Fresh deals to South Korea and Taiwan have raised Japanese export scrap prices over recent days, market participants told Fastmarkets on Wednesday February 24.Bullish sentiment in the market was underpinned by major Japan steel scrap buyer Tokyo Steel raising its buy prices by ?500 per tonne across all factories on Wednesday. The price hike, the second this week of its kind, means the steelmaker...Read More
Higher Japanese offers are heating up prices in the China import scrap market, sources told Fastmarkets on Wednesday February 24.Chinese buyers have focused more on procuring steel billet imports since the market returned from its Lunar New Year holidays earlier this month, with few recent scrap sales heard.Fastmarkets' price assessment of steel scrap, heavy recycled steel materials was at $470-47...Read More
Billet producers from Iran achieved higher sales prices in the recent round of tenders on support from the uptrend in the global steel billet market, sources told Fastmarkets on February 24.The main drivers for the growth in global billet prices are the market expectations of a return in interest for imported semi-finished products at higher prices in China after the Chinese New Year celebrations...Read More
China's domestic rebar prices halted their recent decline on Wednesday February 24, supported by strong futures and a rise in demand.DomesticEastern China (Shanghai): 4,600-4,620 yuan ($712-715) per tonne, unchangedThe May rebar contract increased on market participants' bullish outlook for demand when the contract is delivered.Spot market demand also increased with more end users back to work.But...Read More
Spot activity in the molybdic oxide market slowed this week, leaving the recent rally to stall, though ferro-molybdenum prices continued to rise as sellers sought to protect already squeezed margins.Fastmarkets' price assessment for ferro-molybdenum 65% Mo min, in-whs Rotterdam rose by 1.2% during the first half of the week, to $28.80-29.50 per kg from $28.50-29.10 per kg previously. Fastmarkets'...Read More
Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky. The London Metal Exchange three-month nickel price was recently trading at $19,660 per tonne, 1.5% higher than at the 5pm close on Tuesday February 23.The price has rallied significantly in February, curre...Read More
Prices for steel hollow sections in Europe were unchanged over the past week, but mills were said to be considering a round of increases, sources told Fastmarkets on Wednesday February 24.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?860-880 ($1,045-1,070) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil - the feed...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi in London,...Read More