Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
Steel consumption among the member-nations of the Gulf Co-operation Council (GCC) was likely to decrease significantly because of curfew orders imposed in several countries.Saudi Arabia announced a 24-hour curfew in the cities of Riyadh, Tabuk, Dammam, Dharan and Hofuf, and in the provinces of Jeddah, Taif, Qatif and Khobar, commencing on the night of April 6.The same measures were also imposed on...Read More
Prices for hollow steel sections in Europe widened this week with trading activity remaining slow ahead of the long Easter weekend break, sources told Fastmarkets on Wednesday April 8.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-610 ($641-663) per tonne on Wednesday, widening downward by ?,?5 per tonne from ?,?595-610 per tonne o...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
The Turkish deep-sea scrap import markets went quiet again after the strong rebound earlier in the week, with supplies tighter because of the Covid-19 pandemic, sources said on Wednesday April 8.Scrap import prices have gone up strongly amid reduced availability of material in the deep-sea market, caused by the closing of scrapyards to control the pandemic and the subsequent decreased collection v...Read More
Japanese scrap exporters have started to shun deals at the most recent transaction prices, they told Fastmarkets this week, with scrap collection activity slowing down and bulk scrap deals to Turkey being agreed at higher prices in recent days.The Japanese ferrous scrap market continued to fall over the past seven days, with Fastmarkets' price assessment for steel scrap H2, export, fob main port J...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
Iranian export prices for steel billet widened in the week to Wednesday April 8 following fresh sales.Despite the fact that the holiday period for the Iranian new year on March 20 was extended until April 11 to try to control the Covid-19 pandemic, steelmakers continued to operate and were still active in the...Read More
World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.This is the stark assessment by the World Trade Organization, which said global goods trade could contract by as much as 32% in 2020 under its worse-case scenario of suppression measures staying in place for the whole year and limite...Read More
The lockdown in South Africa has sparked a sharp rise in seaborne manganese ore prices in China, whereas the chrome ore market has lagged behind due to different end uses, slower portside price movements and high stocks. South Africa has been under a nationwide lockdown since Thursday March 26, implemented to prevent the spread of the Covid-19 virus. The country's metals and mining operations...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
Prices for hollow steel sections in Europe widened this week with trading activity remaining slow ahead of the long Easter weekend break, sources told Fastmarkets on Wednesday April 8.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?590-610 ($641-663) per tonne on Wednesday, widening downward by ?,?5 per tonne from ?,?595-610 per tonne o...Read More
Turkish pipe export prices have gone down over the past month amid falling raw materials prices and the limiting effects on demand of the Covid-19 pandemic, sources said on Wednesday April 8.Fastmarkets' monthly price assessment for steel structural pipe, export, S235JR grade, EN10219, 2mm wall thickness, fob main port Turkey, was $490-500 per tonne on Wednesday, down from $530-540 per tonne on Ma...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
The second tranche of the European Union's steel product import quotas has reached the point where some have become exhausted. Fastmarkets looks at the progress of quota take-up country by country, and reviews the likely dates for exhaustion that were calculated at the end of 2019.BackgroundOn February 2, 2019, the European Commission (EC) imposed definitive safeguard measures on a list of importe...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 8 that are worth another look.World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around...Read More
Nickel markets worldwide were holding steady in the week to Tuesday April 7 while the Covid-19 pandemic continued on an unpredictable path.Nickel premiums static in European marketUS sellers hold to existing offers despite higher freight costsChina sees little trading on lack of arbitrage opportunities.European premiums steady in subdued spot tradeEuropean nickel premiums remained stable in the we...Read More
Iranian export prices for steel billet widened in the week to Wednesday April 8 following fresh sales.Despite the fact that the holiday period for the Iranian new year on March 20 was extended until April 11 to try to control the Covid-19 pandemic, steelmakers continued to operate and were still active in the...Read More
World trade will fall by more this year than during the downturn brought on by the global financial crisis of 2008-09 as the impacts of the Covid-19 pandemic are felt.This is the stark assessment by the World Trade Organization, which said global goods trade could contract by as much as 32% in 2020 under its worse-case scenario of suppression measures staying in place for the whole year and limite...Read More