Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Thursday May 7 due to slow trading activity, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?420.83 ($455.03) per tonne on Thursday, down by ?,?0.67 per tonne from ?,?421.50 per tonne on Wednesday.Thursday's index was calculated based on "achie...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 7 that are worth another look.The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns ha...Read More
The US Department of Commerce has initiated anti-dumping and countervailing duty investigations into imports of pre-stressed concrete steel wire strand from 15 countries. Argentina, Colombia, Egypt, Indonesia, Italy, Malaysia, the Netherlands, Saudi Arabia, South Africa, Spain, Taiwan, Tunisia, Turkey, Ukraine and the United Arab Emirates will be investigated for dumping, and Turkey will be invest...Read More
Declining market activity due to the ongoing Covid-19 pandemic and competitively priced imports worked in tandem to lower steel reinforcing bar prices in the United States, market participants said. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US narrowed lower to $29-29.50 per hundredweight ($580-590 per short ton) on Wednesday May 6, down from $29-30 per cwt pre...Read More
The price of alloy steel scrap in the United Kingdom and Europe moved up this week on low availability and slightly higher nickel costs, Fastmarkets heard on Thursday May 7. Fastmarkets' weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?730-800 ($902-988) per tonne on May 7, up by ?30-50 per tonne since May 1. With important sources of stainless steel...Read More
The price of ferrous scrap imported into India was largely stable in the week to Thursday May 7 with trading activity still on hold while a lockdown remained in place for many parts of the country, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $257.98 per tonne on Thursday, broadly stable from $259.38 per tonne on May 1.Al...Read More
Turkish steel mills stayed away from deep-sea scrap purchases on Thursday May 7 due to weak finished long steel demand in the country's export markets, sources said.Steel producers in Turkey have avoided the deep-sea markets since the end of last week, when a steel mill in the Iskenderun region booked a European cargo at $236 per tonne cfr for HMS 1&2 (80:20) and $246 per tonne cfr for bonus, send...Read More
While global long steel production is expected to recover quicker than demand, which could put pressure on market prices, the outlook for the next quarter is unstable due to a lack of demand and low pricing, the International Rebar Producers & Exporters Association (Irepas) said this week.Supply and demand have worsened in the European Union due to a lockdown among most world economies.It is...Read More
Demand for imported steel billet and domestic steel reinforcing bar (rebar) in Egypt remained weak in the week to Thursday May 7, with no improvement anticipated soon due to the Islamic holy month of Ramadan and the Covid-19 pandemic, sources told Fastmarkets.No new billet deals were heard over the past week, sources said.Ramadan, traditionally a slow month for trade in Muslim countries, bega...Read More
Trading activity in the Commonwealth of Independent States' export billet market switched to China in early May, while other outlets remained quiet due to the religious holidays in the Middle East, Africa and part of Asia as well as the effects of the Covid-19 pandemic.A 40,000-tonne cargo of Russian billet was reported sold to China through a trader at slightly below $370 per tonne cfr, equivalen...Read More
German carmaker Daimler, the owner of Mercedes-Benz, has restarted production at most of its sites following an extension of its previous closures.Daimler originally suspended production at many of its sites for an initial period of two weeks from March 23, following widespread disruption resulting from the Covid-19 pandemic. This was then extended until April 30. Short-time working had been in pl...Read More
A summary of ArcelorMittal's financial results for the first quarter of 2020. In brief The company blames the Covid-19 pandemic for a notable drop of earnings in the first quarter 2020 year on year, with both volumes and prices severely affected. The company also attributed the fall in sales income to lower average steel selling prices. The company noted a notable drop in industr...Read More
The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.European steel association Eurofer has lodged a complaint with the EC, alleging that HRC has been exported from Turkey at dumped prices."In April 2020, a new [anti-dumping] investigation was opened into HRC from Turkey," ArcelorMit...Read More
Brazil-based steelmaker Gerdau expects the level of long steel sales in North America and the gap between ferrous scrap costs and finished steel prices to remain stable during the second quarter, when compared with January-March figures.Gerdau chief executive officer Gustavo Werneck said the current spread was $422 per short ton in North America, an increase of $20 from the levels seen in Jan...Read More
The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.European steel association Eurofer has lodged a complaint with the EC, alleging that HRC has been exported from Turkey at dumped prices."In April 2020, a new [anti-dumping] investigation was opened into HRC from Turkey," ArcelorMit...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 7 that are worth another look.The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns ha...Read More
The Commodity Futures Trading Commission (CFTC), a US commodities regulator, is analyzing what led the crude oil price to move into negative territory last month, including an assessment of market participant activities and whether position limits and other regulations might need to change.The move could add impetus to the CFTC's proposal to impose federal position limits in 25 energy, metals and...Read More
The mining industry is set to undergo a paradigm shift in the aftermath of the Covid-19 pandemic that will include a reshaping of corporates, including through "dynamic" mergers and acquisitions, the chief executive officer of Barrick Gold Corporation said.Mark Bristow, whose Africa-focused miner Randgold Resources merged with Canada-based gold and copper giant Barrick last year, said it was a gre...Read More
Aluminium foundry alloy premiums continued their decline in Europe and held steady in the United States on Thursday May 7 on a lack of spot activity, even as automakers began to restart vehicle production in both regions.End-user demand a concern in EuropeAlthough automakers have begun to restart in Europe, market participants said vehicle production remains too low to attract demand for foundry a...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 7 that are worth another look.The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns ha...Read More