Prices for bulk cargoes of deep-sea ferrous scrap imported into Bangladesh increased by $10 per tonne over the week to Thursday April 9, with suppliers in the United States raising their offers in response to lower material availability.Bangladesh import prices were also raised by continued demand for steel scrap in the country, despite the nation's recently-imposed lockdown, with at least one ste...Read More
The price of ferrous scrap imported into India remained broadly stable this week with the country's Covid-19 lockdown continuing to keep trading at a standstill, but buoyed by increases in other global scrap markets, sources told Fastmarkets on Thursday April 9.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $245.19 per tonne on Thursday, little changed...Read More
The market for pig iron exports from the Commonwealth of Independent States decreased again on new sales to China booked at lower prices during the week to Thursday April 9.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $265-275 per tonne on April 9, down from $277-282 per tonne a week earlier.Several sales of Ukraine-orig...Read More
Prices for imported steel billet in Egypt increased in the week to Thursday April 9, however, market activity was very weak because of the Covid-19 pandemic, sources told Fastmarkets.Domestic demand is weak, but even then steel billet stocks were low, so buyers booked some material, sources told Fastmarkets.Local rebar prices have not changed in the country since late February, when some Egyptian...Read More
Turkish steel billet prices have gone up sharply over the past week due to the rebound in deep-sea scrap import values, sources said on Thursday April 9.Commonwealth of Independent States (CIS) billet sellers managed to achieve higher prices this week on the significant rise in the steel scrap segment amid the reduced availability of the material due to the effects of the coronavirus pandemic.Some...Read More
China's domestic rebar prices increased on Thursday April 9 amid reports of a drop in inventory levels at mills and the spot market. Eastern China (Shanghai): 3,400-3,430 yuan ($481-486) per tonne, up by 30 yuan per tonneNorthern China (Beijing): 3,350-3,380 yuan per tonne, up 10-20 yuan per tonneSteel stocks continued to drop over the past week due to good demand. Data showing this decline releas...Read More
The price of stainless steel in the European domestic market was largely unchanged this week with low nickel prices and a mill restart in Italy preventing further significant increases, Fastmarkets heard on Thursday April 9.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?2,090-2,105 ($2,271-2,287) per...Read More
Stainless steel prices in China declined over the past week amid poor demand from both downstream industries within the country and overseas buyers. Market participants said that stainless steelmakers were limited in their ability to slash prices any further because of the recent stability in the price of nickel. The three-month nickel contract on the London Metal Exchange has remained rangebound...Read More
Prices for imported steel billet in Egypt increased in the week to Thursday April 9, however, market activity was very weak because of the Covid-19 pandemic, sources told Fastmarkets.Domestic demand is weak, but even then steel billet stocks were low, so buyers booked some material, sources told Fastmarkets.Local rebar prices have not changed in the country since late February, when some Egyptian...Read More
Turkey produced 5.865 million tonnes of crude steel in January-February 2020, up by 12.7% from 5.203 million tonnes produced in the corresponding period the year before, according to the Turkish Steel Producers Association (T???oeD). The rise in output was largely attributed to the significant decrease in production in Turkey in the second half of 2018 and all of 2019. The decline in Turkey's crud...Read More
The European Commission has imposed anti-dumping duties on imports of hot-rolled stainless steel products originating in China, Taiwan and Indonesia into the European Union, it announced on Tuesday April 7.The provisional duties relate to an investigation started on August 12, 2019, following the European Steel Association Eurofer's complaint lodged two months earlier.The investigation applies to,...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 9 that are worth another look.South American flat steel import prices were mostly stable week on week as market liquidity dipped in the continent amid lockdowns and weakened demand due to the Covid-19 pandemic.The aerospace industry has been hit hard by the Covid-19 pandemic, with companies in the sector forced to take drast...Read More
Cobalt prices continued to drift lower over past week with buyers holding back from the spot market and stock levels sufficient to offset the initial impact of various supply-side cutbacks resulting from efforts to curb the Covid-19 pandemic. Fastmarkets' price assessment for cobalt alloy grade, in-whs Rotterdam stood at $16-16.50 per lb on Thursday April 9, unchanged from the previous day an...Read More
Aluminium billet premiums across the globe declined on Thursday April 9, with the Covid-19 pandemic continuing to dampen downstream aluminium demand and prices across the supply chain.Fresh record lows in Germany, ItalyBrazil premium at 44-month lowAuto shutdowns pressure US marketNo spot business in Thailand Huge drops in EuropeLiquidity was minimal throughout Europe this week as the coronavirus...Read More
Fastmarkets' price assessment for the aluminium extrusion billet premium, cif Brazil was published later than scheduled on Thursday April 9 due to a technical error.Fastmarkets' price book and database have since been updated for the aluminium 6063 & 6060 extrusion billet premium,...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 9 that are worth another look.South American flat steel import prices were mostly stable week on week as market liquidity dipped in the continent amid lockdowns and weakened demand due to the Covid-19 pandemic.The aerospace industry has been hit hard by the Covid-19 pandemic, with companies in the sector forced to take drast...Read More
Chinese traders are ramping up bids for physical copper in a bid to secure units before an expected cut to valued-added tax (VAT) in April. The Shanghai copper market is betting on China's current 13% VAT being reduced as part of a raft of economic policy measures set to be considered when China's National People's Congress, the state legislature, returns later this month. This would echo a simila...Read More
The London Metal Exchange three-month copper price held above the $5,000 psychological mark on Thursday April 9, closing at $5,002.50 per tonne in a day with a turnover of just above 11,600 lots.The copper price reached an intraday high of $5,070 per tonne following a fresh cancellation of 300 tonnes, despite the low material turnover ahead of the long Easter weekend (Friday April 10-Monday April...Read More
China's hot-rolled coil prices rose on Thursday April 9 despite moderate trading activity, with sentiment improving on gains in the futures market.DomesticEastern China (Shanghai): 3,270-3,280 yuan ($463-464) per tonne, up 50 yuan per tonneNorthern China (Tangshan): 3,200 yuan per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader said trading activity on Thursday was just moderat...Read More
China's domestic rebar prices increased on Thursday April 9 amid reports of a drop in inventory levels at mills and the spot market. Eastern China (Shanghai): 3,400-3,430 yuan ($481-486) per tonne, up by 30 yuan per tonneNorthern China (Beijing): 3,350-3,380 yuan per tonne, up 10-20 yuan per tonneSteel stocks continued to drop over the past week due to good demand. Data showing this decline releas...Read More