The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese blast furnace (BF) utilization rates have stagnated and iron ore port stock volumes are rising, reaching their highest levels since March, which suggests that iron ore supply is becoming excessive while demand is not growing. Unsurprisingly, prices dropped last week and we expect the trend to continue. The market has...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Prices of stainless steel are generally set to reach highs for the year as 2020 comes to a close. For the most common nickel-containing grades of stainless steel, this upward trend is being driven above all by rising nickel prices, which themselves are hitting relatively high levels into the end of 2020.The price increases si...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More
Base metals prices on the London Metal Exchange were up across the board this morning, Monday February 1, this despite weaker-than-expected manufacturing purchasing managers’ index (PMI) data out of China over the weekend.But perhaps most noteworthy has been the 8% rally in spot silver that has surpassed $29 per oz to challenge last August’s high.* March tin lower on Shanghai Futures Exc...Read More
Silver iShares (SLV) moved above $25.74 and $27.39 to an eight year high extending an intermediate uptrend. Silver Miners ETF (SIL) moved above $50.00 extending an intermediate uptrend.Pan American Silver (PAAS) moved above $38.69 extending an intermediate uptrend.Hecla Mining (HL) moved above $7.06 to a 10 year high extending an intermediate uptrend.First Majestic Silver (FR.TO AG) moved above Cd...Read More
Swedish steelmakers SSAB no longer plans to acquire the Ijmuiden plant in the Netherlands off of Tata Steel, SSAB said on Friday January 29.Tata Steel initiated discussions with SSAB on the sale of its IJmuiden plant in the Netherlands and related downstream assets in November 2020. After the announcement, market sources said it would have allowed SSAB to increase its presence in Northern Europe.A...Read More
China's Baowu Steel Group, the world's largest steelmaker, is in talks with Shandong Iron & Steel Group Co for a potential merger.While a small segment of the steel market already had some knowledge of this development, particularly after Baowu Steel sent some of its company officials to Shandong Steel to conduct surveys on the topic of a merger, the matter became public after local media reported...Read More
General Motors (GM) plans to transition its entire light-duty vehicle fleet to electric vehicles (EVs) by 2035, bringing an end to its production of gasoline- and diesel-powered vehicles. The automaker aims to go carbon neutral by 2040.A GM spokesperson told Fastmarkets that the company has set a goal to exclusively produce EVs in its light-duty fleet and discontinue producing internal combustion...Read More
Slab export prices from Brazil were unchanged in the week ended Friday January 29, with consumers cautious due to uncertainty in steel markets.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil remained at $760-780 per tonne fob on Friday.Producers have been trying to sustain offers at $780 per tonne fob in the US market, but buyers are holding back in an attempt to...Read More
Hot-dipped galvanized (HDG) and color-coated coil prices fell slightly in Turkey's domestic and export markets amid slow demand in the week to Friday January 29, sources told Fastmarkets. Demand retreated because prices for hot-rolled coil, the base product for coated coil, have been decreasing recently, and buyers wanted to see its effect on coated coil prices. Fastmarkets' weekly price assessmen...Read More
The Indian secondary billet price fell for a third week in a row on negative sentiment after prices of finished products including rebar continued to slide. Fastmarkets assessed the steel billet domestic, exw India price at 34,200-34,400 rupees ($468-471) per tonne on Friday January 29, down by 1,000 rupees (2.8%) from 35,200-35,400 rupees per tonne a week ago. The assessment has fallen by...Read More
Hot-rolled coil and cold-rolled coil prices continued to decrease during the week to Friday January 29 in Turkey, while buying in the domestic market was weak because of uncertainty on price changes, sources told Fastmarkets.Some market participants believe prices have more room to decrease because of weakening prices globally and so did not want to order flat steel for April production and M...Read More
Global ferrous scrap prices have yet to hit the buffers in their downward plunge. Buyers in Asia were holding back from purchases in the week ended Friday January 29, swooping in only for low-priced cargoes, but demand from China could support prices in the near term.Turkey re-enters spot marketBearish sentiment in US on lower transaction pricesTaiwan market in rapid descentCovid-19 in Vietnam dam...Read More
The price of shredded steel scrap imported into India and Pakistan moved down in the week ended Friday January 29 on fresh trades heard in the market, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $415.83 per tonne on Friday, down from $430.83 per tonne one week earlier.Deals were heard early in the week for shredded at $4...Read More
Turkish steel producers skipped deep-sea purchases on the last working day of the week, with sentiment still negative due to limited demand for rebar and steel billet, sources said on Friday January 29.The most recent deals were heard late on Wednesday January 27, when two US cargoes were booked, bringing the week's total to three. A steel mill in the Iskenderun region booked a cargo from the...Read More
The price range for UK-origin light iron has dropped ?5 ($5.65) per tonne in the week ending Friday January 29 after a fall in European deep-sea export markets to traditional buyers in Turkey in the past couple of weeks weighed on British scrap prices, trade sources said. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?130-145...Read More
Prices for import cargoes of steel scrap delivered to South Korea have continued to fall over the past week, but Japanese sellers are starting to resist further drops, sources said on Friday January 29.A South Korean steelmaker purchased 10,000 tonnes of H2 scrap at ?36,480 ($350) per tonne fob Japan on January 26, Fastmarkets heard.But after this deal, key Japanese scrap buyer Tokyo Steel reduce...Read More
A summary of sales figures from Russian steelmaker Evraz in the fourth quarter of 2020, from its trading update report published on Friday January 29.Evraz CIS in brief Crude steel output surged by 5.2% quarter on quarter to 3.04 million tonnes, up from 2.89 million tonnes, while scheduled capital repairs during the third quarter of 2020 were completed. Commonwealth of Independent States (CIS)-bas...Read More