Oversupply in the steel rebar market in Russia's Central Federal District around Moscow is a cause for concern, sources told Fastmarkets on Tuesday May 26, although prices remained largely unchanged week on week. Construction, the key consumer, was still running slowly after a gradual restart in the wake of the Covid-19 lockdown restrictions, sources said"Yes, the construction activity has im...Read More
Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite there being no upward movement in their steel sales prices, sources in Japan have told Fastmarkets.On Tuesday May 26, key EAF mill Tokyo Steel raised its bid price for steel scrap by ?500 ($5) per tonne at all its steelworks except in Tahara, wh...Read More
China's domestic rebar prices fell on Tuesday May 26, due to reduced demand caused by the heavy rains in most regions of the country. Domestic Eastern China (Shanghai): 3,520-3,550 yuan ($493-498) per tonne, down by 20 yuan per tonne The heavy rains started late last week in southern China and the weather forecast suggest it will extend to most regions this week and that h...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
Mexican ferrous scrap prices were on opposite paths in the week ended Friday May 22, with prices rising in some deals due to a scarcity of material while others fell due to currency moves.Prices for three grades of scrap increased in Monterrey, with at least one client heard quietly purchasing small volumes of specific grades at higher prices.A second client was also considering future price...Read More
Turkish deep-sea scrap import prices remained broadly stable on Tuesday May 26 after news of a fresh cargo came to light. The transaction which came to light on Monday was sold either on Sunday May 24 or Monday May 25, sources said. The market was relatively quiet at the beginning of the week due to a public holidays in many countries on...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
CIS export slab prices have continued to climb in the second half of May, supported by Turkish customers accepting higher-priced deals.A 30,000-tonne cargo of Ukrainian slab was reported sold last week at $360 per tonne cfr Turkey, equivalent to around $350 per tonne fob Black Sea, sources told Fastmarkets.Turkish customers accepted higher slab offers following a surge in domestic and export...Read More
Crude steel production in Germany fell by 23.85% year on year in April due to production cuts made to reflect the drop in demand caused by the Covid-19 pandemic, the German steel federation said this week.Germany's crude steel production totaled 2.56 million tonnes in April 2020, down from 3.56 million tonnes in the corresponding period of 2019, WV Stahl said on Monday May 25.The last time ou...Read More
The price range for high-carbon ferro-chrome widened in Europe in the week ended Friday May 22, with industry sources reporting deals agreed for more than 500 tonnes of material.The price spread widened to $0.15 per lb after deals were reported that raised the higher end of the assessment.Trading activity was said by most sources to be quiet, with only one supplier reporting deals done. But the pr...Read More
Crude steel production in Germany fell by 23.85% year on year in April due to production cuts made to reflect the drop in demand caused by the Covid-19 pandemic, the German steel federation said this week.Germany's crude steel production totaled 2.56 million tonnes in April 2020, down from 3.56 million tonnes in the corresponding period of 2019, WV Stahl said on Monday May 25.The last time ou...Read More
East Asia and Southeast Asia continue to be among the top five importers of Chinese steel products in April due to the competitive prices of the latter and the former's economic recovery from the Covid-19 pandemic, Fastmarkets understands. China's major steel exportsFlat steel: 4.07 million tonnes, up by 5.1% year on year, down by 0.5% from March, according to China Customs data.Steel bar: 820,000...Read More
Member mills of the China Iron & Steel Association (Cisa) continued to increase their production rates for crude steel, finished steel and hot metal in mid-May, according to data released on Saturday May 23.May 11-20 outputCrude steel: 2.08 million tonnes per day, up by 1.40%Finished steel: 1.96 million tpd, up...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
Mexican ferrous scrap prices were on opposite paths in the week ended Friday May 22, with prices rising in some deals due to a scarcity of material while others fell due to currency moves.Prices for three grades of scrap increased in Monterrey, with at least one client heard quietly purchasing small volumes of specific grades at higher prices.A second client was also considering future price...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 26.Read More
The International Copper Study Group (ICSG) has cut its 2020 global mined copper forecast by 950,000 tonnes, equivalent to nearly 4 million tonnes of copper concentrates output, citing the impact of the Covid-19 pandemic.The copper research group now expects a 3% year-on-year decline in world mined copper output in 2020, citing lockdowns that have been in place since March, the group said on Thurs...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
LME three-month base metals prices, apart from zinc, closed up on Tuesday May 26, in part driven by the impact of China's ongoing monetary easing policy and the onset of economic restarts across Europe. A speech given today by People's Bank of China governor Yi Gang buoyed London Metal Exchange base metals prices at the beginning of the day's trading, according to INTL FC Stone's Natalie Scot...Read More