Brazilian steelmakers will raise the domestic price for long steel products such as rebar by an average of 12% in December, market participants have told Fastmarkets.This will make it the sixth consecutive month of higher prices in Brazil, because of the quick demand recovery from 2020 lows caused by the Covid-19 pandemic. Long steel producers increased prices by around 10% in November.Fastmarkets...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow increased again on higher offers from mills in the week to Monday November 30, reflecting export market growth, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 42,000 roubles ($552) per tonne including 20% value-added tax on Monday, up fro...Read More
Traders are getting bolder in taking rebar positions in the Singapore import market amid the continued rise in long steel prices in Asia, sources said.A transaction was concluded at $517 per tonne cfr Singapore on a theoretical weight basis for Turkish rebar by a Europe-headquartered trader, a buyer source said. The quantity for the February-shipment cargo could not be confirmed.The is in line wit...Read More
Turkish domestic scrap prices continued to increase over the past week because of the rising costs for imported scrap, sources said on Monday November 30.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,600-2,645 lira ($330-336) per tonne on Monday, up from the 2,250-2,545 lira per tonne of last week.Long and flat steelmaker ??olakoglu and...Read More
Prices for seaborne iron ore concentrate and pellets inched up in the week to Friday November 27 amid increased demand for concentrate and tightened supply of pellets, market sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $138.07 per tonne, up $0.68 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $158.77 per tonne, up $0.81 per tonne.Key driversMarket sou...Read More
The Standardization Administration of China approved on Sunday November 29 new domestic steel scrap classification standards that are expected to be rolled out by the end of this year, replacing the previous standards.The standard-making committee had released a draft of the new standards for ferrous and stainless scrap late last month.The new specifications are as follows:Heavy recycled steel mat...Read More
Steel slab export prices from Brazil remained stable in the week ended Friday November 27, with few volumes available and buyers adopting a wait-and-see stance after recent price increases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $515-540 per tonne on November 27, unchanged from the previous week.Offers of slab to the United States were reported around...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
Here are five Fastmarkets stories you might have missed on Monday November 30 that are worth another look.Italian authorities will finalize their takeover of a share in flat steel producer ArcelorMittal Italia on December 10, trade unions Fiom-Cgil and Uilm said on November 30.The first deal for...Read More
Alcoa Corporation will sell its Warrick Operations rolling mill near Evansville, in the US state of Indiana, for $670 million - including $587 million in cash - to Kaiser Aluminum, with the transaction expected to close by April 2021, Alcoa said on Monday November 30.Alcoa will continue to operate the smelter - which has capacity of 269,000 tonnes per year - and power plant at the location. The ro...Read More
Domestic prices for steel hot-rolled coil increased again across Europe in the week to Friday November 27, due to tight supply from both domestic and overseas suppliers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?560.00 ($669.88) per tonne on Friday, up by ?,?18.75 per tonne week on week and by ?,?61.67 per tonne month on month.Friday's index...Read More
Copper and aluminium prices reached new year-to-date highs at the close of trading on the London Metal Exchange on Monday November 30, while the rest of the base-metals complex showed dips in their three-month prices.Copper rose to $7,580 per tonne at 5pm on Monday, up by 1% from Friday's closing price of $7,499.50 per tonne and setting a new year-to-date high.The red metal also went up to $7,708....Read More
Here are five Fastmarkets stories you might have missed on Monday November 30 that are worth another look.Italian authorities will finalize their takeover of a share in flat steel producer ArcelorMittal Italia on December 10, trade unions Fiom-Cgil and Uilm said on November 30.The first deal for...Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
Copper and aluminium prices reached new year-to-date highs at the close of trading on the London Metal Exchange on Monday November 30, while the rest of the base-metals complex showed dips in their three-month prices.Copper rose to $7,580 per tonne at 5pm on Monday, up by 1% from Friday's closing price of $7,499.50 per tonne and setting a new year-to-date high.The red metal also went up to $7,708....Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More