Turkish steel producers returned to the deep-sea scrap market on Thursday June 25, attracted by lower prices, sources told Fastmarkets.A steel mill in the Osmaniye region booked a 27,500-tonne US cargo, comprising HMS 1&2 (80:20) at $261 per tonne, shredded at $266 per tonne and bonus scrap at $271 per tonne cfr. The cargo's composition was not clear at the time of publication.The previo...Read More
Prices for deep-sea origin steel scrap imported to Bangladesh fell over the past week after a new sale from the United States closed at lower numbers, market sources told Fastmarkets on Thursday June 25. A Bangladeshi mill purchased a bulk cargo from the US Pacific Northwest region comprising 13,000 tonnes of HMS 1&2 (80:20) at $275 per tonne cfr and 24,000 tonnes of shredded at $280 per tonne cfr...Read More
Broader markets were generally weaker this morning, Thursday June 25, with those equity markets that were open in the Asian-Pacific region mainly weaker by between 1% and 2%.Pre-market major western equity index futures were down this morning, following Wednesday's weakness. Gold prices hold up in high ground around $1,760 per oz.International Monetary Fund (IMF) cuts world growth forecast again,...Read More
Australian lithium miner Orocobre expects to sell a total of 1,600 tonnes of lithium carbonate from its flagship Olaroz mine during the June quarter, down around 36% from the prior quarter and 53% lower than a year ago, it said on Thursday June 25.It said that the average realized price for sales is also expected to decline sharply to $4,015 per tonne on a fob Australia basis in the three months t...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
Domestic prices for hot-rolled coil in Northern Europe remained fairly stable on Thursday June 25 from the day before, although steelmakers were looking for a price rise, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?394.38 ($445.10) per tonne on June 25, up by only ?,?0.01 per tonne from ?,?394.37 per tonne on June 24.Thursday'...Read More
Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week. All industrial action at Tata Steel IJmuiden has been temporarily stopped until Friday 1 pm local time after the company invited unions to the negotiation table, FNV said on Wednesday. "Due to the pressure of the strikes, the...Read More
Turkish rebar and wire rod export prices have gone down over the past week, with poor demand convincing producers to reduce their offer prices, sources said on Thursday June 25.Turkish steel producers lowered their offers for rebar exports to $415-420 per tonne fob on an actual-weight basis to encourage sales, down from last week's $425-430 per tonne. However, apart from a small containerized...Read More
The billet import price decreased in Egypt because of lower offers and bids in the week to Thursday June 25, sources told Fastmarkets. CIS-origin billet was offered this week at $395-400 per tonne cfr, and buyers believed $375-380 per tonne cfr may be a "workable" price for the material. No deals were heard in the assessment period because of weak rebar consumption. As a result, Fastmarkets' weekl...Read More
Turkish domestic long steel prices have fallen over the past week due to soft demand, sources said on Thursday June 25.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,350-3,470 lira ($488-506) per tonne on Thursday, down from last week's 3,460-3,480 lira per tonne.The mills...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
Turkish steel producers returned to the deep-sea scrap market on Thursday June 25, attracted by lower prices, sources told Fastmarkets.A steel mill in the Osmaniye region booked a 27,500-tonne US cargo, comprising HMS 1&2 (80:20) at $261 per tonne, shredded at $266 per tonne and bonus scrap at $271 per tonne cfr. The cargo's composition was not clear at the time of publication.The previo...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent announcement about Vale's resumption of operations in Brazil, along with new concerns about a slump in demand because of heavy rainfall in China, has resulted in the end of the iron ore price rally. There has also been pressure from tight steel spreads, with the operating margins for Chinese steel mills shrinking...Read More
Turkish billet prices have gone down over the past week because of poor demand and expectations of a downturn in the price for scrap feedstock, market sources said on Thursday June 25.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $380-385 per tonne on Thursday, down from last week's $385-395 per tonne.Billet producers in the Commonwealth of Independent St...Read More
Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week. All industrial action at Tata Steel IJmuiden has been temporarily stopped until Friday 1 pm local time after the company invited unions to the negotiation table, FNV said on Wednesday. "Due to the pressure of the strikes, the...Read More
German steelmaker Salzgitter has taken a "concrete" step toward its low-carbon production goal by agreeing to a feasibility study with its industrial partners, the company announced on Wednesday June 24.The company agreed with the Federal State of Lower Saxony, the City of Wilhelmshaven and its industrial partners, logistics company Rhenus and energy company Uniper, to conduct a feasibility study...Read More
The billet import price decreased in Egypt because of lower offers and bids in the week to Thursday June 25, sources told Fastmarkets. CIS-origin billet was offered this week at $395-400 per tonne cfr, and buyers believed $375-380 per tonne cfr may be a "workable" price for the material. No deals were heard in the assessment period because of weak rebar consumption. As a result, Fastmarkets' weekl...Read More
Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week. All industrial action at Tata Steel IJmuiden has been temporarily stopped until Friday 1 pm local time after the company invited unions to the negotiation table, FNV said on Wednesday. "Due to the pressure of the strikes, the...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 25 that are worth another look.Striking workers have put all industrial action at Tata Steel IJmuiden on hold until Friday June 26 to negotiate with management, Dutch trade union FNV Metaal said this week.Demand for copper in Europe is weak and economies are struggling to restart after coronavirus-related lockdowns, forcing c...Read More
The three-month price of lead on the London Metal Exchange continued its upward trajectory at the close of trading on Thursday June 25, closing more than 1% higher and topping gains across the base-metals complex.But a steady uptick in copper futures over the afternoon was not enough to breach nearby resistance.Lead's outright price on the LME closed at $1,786 per tonne on Thursday afternoon, near...Read More