Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Export prices for steel billet from the Commonwealth of Independent States surged on Tuesday February 23, with several cargoes sold at higher prices to Turkey.Turkish customers accepted price increases for billet because of the continuing uptrend in the sector, based on import scrap and local billet prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turk...Read More
A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More
The European Commission (EC) has decided not to impose preliminary anti-subsidy duties on hot-rolled coil originating from Turkey.The investigation, however, will continue, the EC said on February 18.The investigation was started in June 2020, following a complaint lodged by the European steel association Eurofer.Provisional measures in the anti-subsidy case were scheduled to be set by March 12, 2...Read More
Flat-rolled steel distributors in Brazil reported a 16.2% year-on-year increase in sales volumes during January, while daily rates reached their highest level in seven years, national distributor association Inda said on Tuesday February 23.Sales volumes reached 324,600 tonnes in January, up from 279,400 tonnes a year before, Inda data shows, while the daily average was 16,200 tonnes, the highest...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.17 per hundredweight ($1,223.40 per short ton) on Tuesday February 23, an incre...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More
Steel scrap prices in Mexico resumed their downtrend in the week ended Friday February 19, especially in obsolete grades, with deals reported at lower prices because of energy and gas shortages in the country.A wide range of price cuts were reported, depending on volumes and grades. Most market participants saw price reductions of 300-600 pesos ($15-29) per tonne during the week, while some buyers...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
A bearish pall is emerging for the iron ore pellets market amid growing supply from Brazil and a shift in demand toward fines with the expected easing of sintering restrictions in China. Improved demand for finesChinese steelmakers will likely increase their consumption of iron ore fines once the winter heating season in China ends. Sintering restrictions imposed at the start of the heating season...Read More
Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.Nickel's three-month price, which reached $20,110 per tonne on Monday - the mosthighest level since May 2014 - was under selling pressure on Tuesday and fel...Read More
Iron ore prices went into reverse on Tuesday February 23 amid a correction after the surge on Monday, sources told Fastmarkets, but robust demand means prices should not fall much further.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.05 per tonne, down $2.91 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.52 per tonne, down $2.46 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets fluctuated on Tuesday February 23, while most market participants, uncertain where prices will go, adopted a wait-and-see attitude, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.78 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $220.28 per tonne, down $3.11 per tonne Hard cokin...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese export prices for seamless oil country tubular goods (OCTG) and linepipe barely moved in February 2021, after rallying in January, because the holidays to celebrate the Lunar New Year curbed market activity sharply.With the holiday now ended, we have seen some sharp jumps in round billet prices and we expect there to...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 23.Read More
An overview of the chrome ore and alloy markets on Tuesday February 23 and their latest price moves.China The domestic spot ferro-chrome market resumed its upward momentum after the Lunar New Year holiday (February 11-17). Inner Mongolia's continuing restrictions on ferro-alloy production means there is a supply shortage, which is feeding the bullish sentiment Many market participants anticipated...Read More
Consolidation seeped into the complex on the London Metal Exchange during trading on Tuesday February 23, with copper the only one to close higher and most metals posting lower closing prices versus Monday, when all reached new 2021 highs.Nickel's three-month price, which reached $20,110 per tonne on Monday - the mosthighest level since May 2014 - was under selling pressure on Tuesday and fel...Read More