Imports of finished steel to the United States surged month on month in October due to higher bloom, billet and slab, reinforcing bar and cold-rolled sheet volumes, according to US Census Bureau data.The US imported 1.36 million tonnes of steel products in October, up 18.9% from nearly 1.15 million tonnes in September, preliminary Census data showed.Imports of bloom, billet and slab climbed by 191...Read More
Brazilian flat steel distributors increased their sales volumes by 17% on an annual comparison in October, in a recovering domestic market, according to local distribution association, Inda.Sales totaled 371,700 tonnes in October, compared with 317,700 tonnes in October 2019, Inda said on Tuesday November 24. Month on month, volumes were down 7.8% from September's 403,100 tonnes.In total...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia increased over the past week because of globally strong demand, but buyers were holding back in the expectation that prices will soon fall, sources said on Tuesday November 24.There is a national holiday in the UAE on December 1-3, so working days will be limited next week.UAEHot-rolled coil from Indian suppliers...Read More
Steel billet and rebar prices in the United Arab Emirates increased this week, although most producers were fully booked and were not offering any products, sources told Fastmarkets on Tuesday November 24.Domestic rebarThe country's steel producers were offering rebar at 1,984,1,985 dirhams ($540) per tonne ex-works, with orders to be produced in December, but only a few producers had allocat...Read More
European steelmakers need to consolidate to gain better control over pricing and the supply-demand balance as well as to better tackle rising production costs, but it will not solve the major problems of the European flat steel market, sources told Fastmarkets.And in November 2020, rumors about two major potential sales of European mills have finally been confirmed: Tata Steel in Netherlands is in...Read More
Trader Afrimet Resources (AMR) will invest up to C$650,000 ($497,000) in Canadian exploration company Tantalex Resources Corp in a private placement that gives AMR shares and rights to buy additional shares in Tantalex.As part of the transaction, Hadley Natus, AMR's founder, becomes director and chairman of the board of Tantalex - one of many management changes announced by Toronto-based Tantalex...Read More
CME Group's busheling futures trade spiked to 1,028 lots (20,560 tons) on Monday November 23; all prices jumped day on day, with the January-June 2020 contracts rising to between $380 and $385 per gross ton, widening the spot-futures contango up to $85.The front month December contract received six trades at $350 per ton before settling $10 higher day on day at $352 per ton, according to the excha...Read More
Mexican steelmakers raised their buying prices for ferrous scrap in the week to Friday November 20 on tight supply of the raw material and strong demand for steel products.There were reports of price increases from most major scrap buyers during the week, with firm demand for all grades. Prices in the central region of Baj?-o remained higher than the average prices near the northern city of M...Read More
The Turkish deep-sea scrap import market went quiet on the second working day of the week, with mills instead focusing on finished long steel and billet sales, sources told Fastmarkets on Tuesday November 24.After a steel mill in the Marmara region booked a European cargo at an average price of $332.50 per tonne cfr for a mixture of HMS 1&2 (75:25), shredded and bonus on Monday, mills we...Read More
Seaborne iron ore prices were mostly stable on Tuesday November 24, due to limited physical trading - although futures gained because of a drop in cargo movements, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.42 per tonne, up $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $127.67 per tonne, up $0.18 per tonne58% Fe fines high-grade premium...Read More
The seaborne premium hard coking coal fob index jumped on Tuesday November 24 due to latest transactions sealed at higher prices while the premium hard coking coal cfr price also increased after Chinese steel mills had to pay a premium for high-quality hard coking coal from countries other than Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.67 per tonne, up $9.45 per tonnePr...Read More
Bans on the export of ferrous scrap by various key suppliers of material to India and Pakistan have restricted import flows at the same time that demand has been returning to these markets, pushing prices higher, Fastmarkets has learnt.Demand for imports of steel scrap fell sharply when India went into its strict lockdown during March in response to the Covid-19 pandemic. Trading effectively...Read More
China's hot-rolled coil prices were largely stable on Tuesday November 24, though trading activity weakened amid colder weather.DomesticEastern China (Shanghai): 4,120-4,140 yuan ($627-630) per tonne, unchangedSeveral Shanghai-based traders said thin trading during the day, with some buyers expecting prices to fall due to the onset of winter.One of the traders said trading activity in northern Chi...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process...Read More
The base metals on the London Metal Exchange were firmer across the board this morning, Tuesday November 24, although those on the Shanghai Futures Exchange were mixed following the weakness seen on the LME on Monday. US president-elect Joe Biden plans to nominate former Federal Reserve chair Janet Yellen to become Treasury Secretary......the market seems to see Yellen as a safe pair of handsCoppe...Read More
An overview of the chrome ore and alloy markets and their latest price moves.China Prices for UG2 chrome ore fell more slowly, amid limited trading activity. The spot ferro-chrome price remained steady with sentiment buoyed by power restrictions in Inner Mongolia, the major production region for high-carbon ferro-chrome. Falling stainless steel prices also weighed...Read More
China produced 21.97 million tonnes of crude stainless steel in the first nine months of 2020, according to data released by the China Stainless Steel Council (CSSC) on November 13.This is a 516,200 tonnes (2.3%) drop compared with the output over the same period of last year, the CSSC said.China's apparent stainless steel...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday November 25, as were those on the Shanghai Futures Exchange, but overall they seem to be consolidating in high ground, with copper having set a fresh high for the year at $7,360 per tonne earlier this morning.* US president-elect Joe Biden’s transition to the White House has boosted global confidence...* ...thi...Read More
Canadian forest product stocks continue moving higher. West Fraser Timber moved above $75.06 extending an intermediate uptrend.Pre-opening Comments for Wednesday November 25thU.S. equity index futures were mixed this morning. S&P 500 futures were down 2 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. October Durable Goods Or...Read More