Prices for hollow steel sections in Northern and Southern Europe have moved down this week with trading activity continuing to decline, sources told Fastmarkets on Wednesday April 1.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?595-610 ($654-671) per tonne on Wednesday, narrowing downward from ?,?595-620 per tonne one week earlier."We...Read More
Turkish steel producers remained quiet in the deep-sea scrap import markets while suppliers were unwilling to sell at current price levels, sources said on Wednesday April 1.The mills were mostly shunning scrap purchases because of the coronavirus (Covid-19) outbreak, which brought steel trade to a halt and caused mills to close or cut production.After several steel mills in the Izmir region were...Read More
Prices for Japanese ferrous scrap continued to soften over the past week, but the scale of the decline was tempered by falling collection volumes, market sources told Fastmarkets on Wednesday April 1.Japanese H2 scrap prices have fallen by ?4,000 ($37) per tonne over the past seven weeks, and these weaker prices, together with slowing industrial activity due to the spread of the Covid-19 pandemic...Read More
Seaborne iron ore prices managed to stay above $80 per tonne cfr on Wednesday April 1 despite weakening from a day earlier amid a softening rebar market in China.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $82.49 per tonne, down $0.83 per tonne 62% Fe low-alumina fines, cfr Qingdao: $83.80 per tonne, down $0.28 per tonne58% Fe fines high-grade premium, cfr Qingdao: $71.48 per tonne, do...Read More
Prices in the CIS export billet market continued to slide on Wednesday April 1, in line with lower bids received amid the reduced trading activity.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $330 per tonne on Wednesday, down by $5 per tonne day on day. This price was the lowest since October 2016.Customers in the major traditional markets such as the Middle East and Nort...Read More
Iranian steel billet producers have returned to the market after the Nowruz break for the country's new year celebrations, and they had new offer prices despite a state of semi-lockdown in the country due to the Covid-19 pandemic.The country's major billet producer, Khouzestan, issued a tender for 30,000 tonnes of billet scheduled for delivery in May, and claimed to have sold it at $350 per tonne...Read More
Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on Wednesday April 1.The Spanish government issued a royal decree on March 29, ordering the shutdown of all non-essential activities and businesses from March 30, with a rest...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Having first hit Asia during early 2020, the Covid-19 viral outbreak is now having an even bigger impact on European countries and the US. Widespread lockdown measures have been put in place on people and industry, and economic activity has slowed markedly.For now, stainless steel markets in Europe and the US are yet to show...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday April 1. Key drivers Russia, a supplier of 40% of European ferro-titanium, is on lockdown due to the Covid-19 virus pandemic until next week and it could be extended.Russian producers are considering declaring force majeure should the lockdown continue beyond a week. Titanium scrap prices are stable...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.This month's key ferro-alloy forecast highlights:While the ferro-alloy industry's initial response to the Covid-19 outbreak was marked by rising prices primarily in response to supply-side concerns, focus has now shifted somewhat. As Chinese activity slowly returns to more normal levels, for alloys with a strong Chinese produ...Read More
Prices for hollow steel sections in Northern and Southern Europe have moved down this week with trading activity continuing to decline, sources told Fastmarkets on Wednesday April 1.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?595-610 ($654-671) per tonne on Wednesday, narrowing downward from ?,?595-620 per tonne one week earlier."We...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.As oil price stumbles, outlook for welded markets weakensIn February, oil prices, already hit by the economic slowdown in Asia, turned lower on the failure of OPEC+ to reach an agreement on production cuts. This was enough to shake oil markets, but the collapse of global demand due to the pandemic has driven Brent below $30/...Read More
Hot-rolled coil prices in the United States could fall as low as $400 per short ton ($20 per hundredweight) in less than a month, despite recent efforts by domestic mills to cut production, because the Covid-19 pandemic will continue to hurt steel demand, sources told Fastmarkets.As of Wednesday April 1, a number of steel producers in the US - including U.S. Steel, ArcelorMittal USA and AK Steel -...Read More
The Brazilian branch of Toyota Motor Corp has decided to postpone the restart of its operations due to the Covid-19 pandemic, following other automakers either considering or already enforcing longer idle periods in the country.Production was expected to resume at Toyota's four plants in the southeastern state of S??o Paulo on Monday April 6. After further gauging demand and availability...Read More
Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on Wednesday April 1.The Spanish government issued a royal decree on March 29, ordering the shutdown of all non-essential activities and businesses from March 30, with a rest...Read More
Turkey imported 629,346 tonnes of flat steel in February 2020, up 25.49% from 501,513 tonnes in the corresponding month of 2019, according to the Turkish Statistical Institute (TUIK).The increase in import volumes was due to restocking in December 2019, when orders for February delivery were placed.Demand for flat steel is weak in Turkey at the moment due to the global Covid-19 pandemic and steel...Read More
A much vaunted infrastructure bill could be back on the agenda again while the United States moves to shore up its economy and stem job losses amid the Covid-19 pandemic.US President Donald Trump said in a post on social media platform Twitter earlier on Tuesday March 31 that the bill would be the fourth part of the government's stimulus measures to handle the impacts of the virus."With interest r...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 1 that are worth another look.Spain's Ministry of Industry, Trade & Tourism has finally confirmed the steel industry is considered "essential" and can continue operating, albeit at a slower pace, the Spanish steel distributors association, UAHE, said on April 1.Arconic Inc has completed its separation into two standalone co...Read More
South Africa's 21-day lockdown aimed at curbing the spread of the Covid-19 virus has highlighted the cobalt market's dependence on the shipping route out of Durban. South Africa entered the lockdown - initially for three weeks - on Thursday March 26, creating uncertainty over loading at ports, including Durban, which is frequently used for the shipment of Democratic Republic of the Congo-mined cob...Read More
Prices in the CIS export billet market continued to slide on Wednesday April 1, in line with lower bids received amid the reduced trading activity.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $330 per tonne on Wednesday, down by $5 per tonne day on day. This price was the lowest since October 2016.Customers in the major traditional markets such as the Middle East and Nort...Read More