Here are five Fastmarkets stories you might have missed on Monday February 15 that are worth another look.The Gulf Co-operation Council (GCC) believes that a recent increase in the imports of certain steel products could pose a threat to domestic industry, according to a document seen by Fastmarkets, in which the group's Technical Secretariat recommended imposing a safeguard duty on...Read More
Domestic prices for steel hot-rolled coil in Northern Europe started to move up at the end of the week to Friday February 12, supported by good order books at domestic producers and solid demand.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?720.00 ($872.58) per tonne on Friday, up by ?,?10 per tonne week on week and up by ?,?32 per tonne month o...Read More
Tin's London Metal Exchange three-month price closed 3% higher on Monday February 15 at $24,385 per tonne, while the rest of the base metals prices continued to capitalize on bullish momentum with new year-to-date highs for all metals except for zinc. The tin price extended to $24,895 per tonne around midday, rising by some $1,000 in one hour. The short squeezing has resulted in the highest price...Read More
Tightening availability and rising prices of tungsten scrap and tungsten concentrate have supported the tungsten intermediates price to rise to its highest level in almost two years. Fastmarkets assessed the tungsten APT, 88.5% WO3 min, cif Rotterdam and Baltimore price at $250-255 per mtu on Friday February 12, unchanged from the previous week's assessment but up almost 9% from the start of...Read More
Here are five Fastmarkets stories you might have missed on Monday February 15 that are worth another look.The Gulf Co-operation Council (GCC) believes that a recent increase in the imports of certain steel products could pose a threat to domestic industry, according to a document seen by Fastmarkets, in which the group's Technical Secretariat recommended imposing a safeguard duty on...Read More
Tin's London Metal Exchange three-month price closed 3% higher on Monday February 15 at $24,385 per tonne, while the rest of the base metals prices continued to capitalize on bullish momentum with new year-to-date highs for all metals except for zinc. The tin price extended to $24,895 per tonne around midday, rising by some $1,000 in one hour. The short squeezing has resulted in the highest price...Read More
Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc. Major western pre-market equity index futures were stronger. The dollar index was on a back foot while United States 10-year treasury yields were firmer, suggesting risk-on. Base metals The three-month zinc pri...Read More
Spot zinc treatment charges (TCs) remained stable in mid-February in the run up to the Chinese New Year holidays, with smelter side activity muted in Asia. Fastmarkets assessed the zinc spot concentrate TC, cif China at $70-85 per tonne on Friday February 12, unchanged from January 29 when it dropped to a two-and-a-half-year low. A zinc tender from Dugald River attracted sharp terms, coming i...Read More
Steel companies ArcelorMittal and Ovako have both begun to offer the first certified "green steel", following increased scrutiny on emissions from customers, the two companies announced separately. ArcelorMittal ArcelorMittal Europe is offering green flat steel products using a system of certificates which are linked to the tonnes of CO2 savings achieved through the company's investment in decarbo...Read More
London Metal Exchange base metals maintained their bullish momentum during the morning on Monday February 15, with all except zinc hitting fresh year-to-date highs, despite the absence of Asian and United States trading.Tin rose by 1.5% to hit $24,095 per tonne in early trading, surpassing the 2021 high set on Friday February 12, and up from Friday's closing price of $23,650 per tonne. This follow...Read More
Base metals maintained their bullish momentum during the morning session on the London Metal Exchange on Monday February 15, with all except zinc hitting fresh year-to-date highs, despite the absence of Asian and United States trading. Tin rose by 1.5% to $24,095 per tonne in early trading, surpassing the 2021 high set on Friday, and up from Friday's closing price of $23,650 per tonne. This follow...Read More
Even with Chinese market participants on holiday, base metals prices on the London Metal Exchange have for the most part been bullish on Monday February 15, with the exception of zinc. Major western pre-market equity index futures were stronger. The dollar index was on a back foot while United States 10-year treasury yields were firmer, suggesting risk-on. Base metals The three-month zinc pri...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Monday February 15 due to good demand and long lead times, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?718.13 ($870.31) per tonne on Monday, down by ?,?1.87 per tonne from ?,?720 per tonne on February 12.The index was, however, up b...Read More
German flat steel producer Salzgitter has declared force majeure due to weather conditions that resulted in disruptions to deliveries, the company's spokesman told Fastmarkets on Monday February 15.The company hopes that the weather will improve in the middle of this week and that deliveries will start to run as normal.The Salzgitter-Beddingen freight station has been closed and shipments...Read More
Positive sentiment in the long steel market over the past week helped Commonwealth of Independent States (CIS) producers to achieve wire rod sales at higher prices, sources said on February 15."Prices for wire rod have gone up after higher scrap bookings and more optimism in the market," one trader said. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey...Read More
Egypt's use of rebar was almost halved in January 2021, with the country consuming just 308,000 tonnes of the construction material - a 46.53% year on year drop from January 2019's 576,000 tonnes.El Marakby Steel's chief business development officer Ramy Saleh told Fastmarkets on Monday February 15 that, in January, rebar use was at its lowest level for more than 10 years...Read More
Russia's NLMK will increase shipments of slab to its subsidiaries as part of its Strategy 2023, the company told Fastmarkets. Earlier in February, NLMK idled a strip mill at its Belgium-based subsidiary NLMK La Louvi??re until March to install three new finishing lines. The revamp will enable production of thinner, stronger and more environmentally-sound steel, according to the company. The compan...Read More
Turkish steel mills made no deep-sea scrap bookings on the first day of the working week because they were mostly focused on finished steel sales, sources told Fastmarkets on Monday February 15.Last week, prices rose by more than $22 per tonne week on week after two steel mills booked United States-origin cargoes at $410 per tonne cfr on HMS 1&2 (80:20) basis.Steelmakers then turned their focus to...Read More
Turkish domestic scrap prices have rebounded in the past week thanks to the upturn in imported scrap values, market sources said on Monday February 15.The producers in the country resumed their deep-sea scrap bookings on Wednesday last week, dragging prices up by more than $22 per tonne week on week by Friday.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was...Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers at ?30 ($41) per tonne lower for February, not as low as expected because export prices to traditional deep-sea markets have staged a late recovery this month, industry sources told Fastmarkets. The move marks the first downturn in prices since October when the markets dropped ?5 per t...Read More