ArcelorMittal Gijon resumed steel making operations this week after six days of downtime due to industrial action, a company representative told Fastmarkets.The steel production at ArcelorMittal's Gijon plant, located in Asturias, Spain, was suspended on December 3 because of a worker's strike, Fastmarkets understands.Gijon steelworks has a capacity to produce about 600,000 tonnes per year of heav...Read More
Steel billet and rebar prices have increased in Egypt in the week ending Thursday December 10, because of restocking after recent price increases, market sources have told Fastmarkets.Egyptian rebar producers have raised their prices twice in December so far, because of high production costs.Producers in the country have been offering rebar at E ?11,450-11,600 ($728-738) per tonne ex-works includi...Read More
Ferrous scrap prices in the United States are facing more upside in January, in a market where supply is trying to catch up with demand. The strength of the ferrous scrap market has caught nearly everyone off-guard, with earlier predictions that the market had another $30-40 per gross ton to rise following the close of the November trade proving to be well below the actual settlements.&n...Read More
The Turkish deep-sea scrap import market was quiet on Thursday December 10, although prices remained firm, sources told Fastmarkets.A steel mill booked a European cargo at $377-378 per tonne cfr on an HMS 1&2 (75:25) basis, which raised the daily scrap indices by more than $12 per tonne on Wednesday, but the market was quiet on Thursday.There was talk of a sale from the United States at $400 per t...Read More
Companhia Sider??rgica Nacional (CSN) set the iron ore guidance for its own production and purchases from third parties at 33 million tonnes in 2020 and 38-40 million tonnes in 2021, the Brazilian steelmaker and miner said on Thursday December 10.CSN previously expected its output and third-party purchases to total 33-36 million tonnes this year, compared to 38.46 million tonnes in 2019.A business...Read More
New bookings of Commonwealth of Independent States (CIS)-origin billet in Southeast Asia and Turkey were heard at higher prices in the week to Thursday December 10, while some suppliers were reported to have withdrawn from the market to reconsider prices, sources told Fastmarkets. A billet cargo originating in Russia was heard booked to Turkey earlier this week at $538 per tonne cfr, which would n...Read More
Turkish steel billet prices have increased sharply this week due to rising imported scrap costs and tightening supply, sources said on Thursday December 10.Steel billet exporters from the Commonwealth of Independent States (CIS) have continued to raise their offer prices for Turkish customers, which now stand at $550-560 per tonne cfr compared with last week's $520-530 per tonne.The Turkish custom...Read More
Steel billet and rebar prices have increased in Egypt in the week ending Thursday December 10, because of restocking after recent price increases, market sources have told Fastmarkets.Egyptian rebar producers have raised their prices twice in December so far, because of high production costs.Producers in the country have been offering rebar at E ?11,450-11,600 ($728-738) per tonne ex-works includi...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said on Thursday December 10.For hot-rolled coil, the increase was expected to be 40-45%, while the company was aiming for a 30-35% rise for galva...Read More
ArcelorMittal Gijon resumed steel making operations this week after six days of downtime due to industrial action, a company representative told Fastmarkets.The steel production at ArcelorMittal's Gijon plant, located in Asturias, Spain, was suspended on December 3 because of a worker's strike, Fastmarkets understands.Gijon steelworks has a capacity to produce about 600,000 tonnes per year of heav...Read More
Companhia Sider??rgica Nacional (CSN) set the iron ore guidance for its own production and purchases from third parties at 33 million tonnes in 2020 and 38-40 million tonnes in 2021, the Brazilian steelmaker and miner said on Thursday December 10.CSN previously expected its output and third-party purchases to total 33-36 million tonnes this year, compared to 38.46 million tonnes in 2019.A business...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 10 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said...Read More
Ferrous scrap prices in the United States are facing more upside in January, in a market where supply is trying to catch up with demand. The strength of the ferrous scrap market has caught nearly everyone off-guard, with earlier predictions that the market had another $30-40 per gross ton to rise following the close of the November trade proving to be well below the actual settlements.&n...Read More
Prices for imported hot-rolled and cold-rolled steel coil in the United States surged on Wednesday December 9 to the highest levels in more than two years, as buyers scrambled to find supply amid speculation that further increases are coming."Import volumes are limited," a West Coast distributor said. "With tariffs and dumping suits you aren't seeing a lot of imports arrive. I think domestic produ...Read More
Steel reinforcing bar prices in the United States have surpassed a one-and-a-half-year high, propelled by raw material-driven mill hikes. Fastmarkets assessed steel rebar, fob mill US at $34 per hundredweight ($680 per short ton) on Wednesday December 9, up by 8.8% from $31.25 per cwt the previous week and the highest level since it was assessed at $34.50 per cwt on May 15, 2019. US marketFas...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 10 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said...Read More
The London Metal Exchange three-month nickel price rallied 4% and four metals in the base metals complex - tin, nickel, copper and zinc - set new 2020 highs during trading on Thursday December 10 on rising expectations for the approval of a Covid-19 vaccine in the United States. The three-month nickel price was at $17,430 per tonne on Thursday at 5pm, 4.35% higher than its Wednesday evening price...Read More
The seaborne premium cfr price rose on Thursday December 10, with United States-origin coal offered at a higher price, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.89 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $178.60 per tonne, up $2.05 per tonneHard coking coal, fob DBCT: $92.56 per tonne, unchangedHard coking coal, cfr Jingtang: $160.26 per...Read More
Base metals prices were steady on the morning of Thursday December 10, staying around price highs established on Wednesday on the London Metal Exchange when tin, zinc and nickel rallied to new year-to-date highs. The three-month nickel price rose during morning trading to $16,865 per tonne, setting yet another year-to-date high on Thursday. The metal's three-month price was at $16,820 per tonne at...Read More
Domestic European prices for hot-dipped galvanized coil increased over the week to Wednesday December 9, due to low availability, good demand and higher feedstock prices, sources told Fastmarkets during the week.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?680-730 ($823-884) per tonne on December 9, widening upward from ?,?680-700 per tonne a week earli...Read More