Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, but buyers expected them to fall even further because of weak demand, market sources said on Tuesday February 25.Local rebar producers announced new monthly domestic prices on February 25.Emirates Steel is now offering rebar at 1,897 dirhams ($516) per tonne ex-works, down from the previous 1,951 dirha...Read More
Turkish steel producers maintained their silence in the deep-sea scrap import market, leaving prices unchanged, sources told Fastmarkets on Tuesday February 25.Steel producers in the country booked eight deep-sea cargoes at rising prices last week, totaling some 250,000 tonnes.With last week's bookings, Turkish imports of scrap so far this month have included 21 deep-sea cargoes adding up to&...Read More
Seaborne iron ore prices were down on Tuesday February 25 amid heightened concerns about the novel coronavirus (2019-nCov) outbreak outside China and the resulting risk averse attitude of traders. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $90.83 per tonne, down $1.05 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $91.84 per tonne, down $0.98 per tonne. 58% Fe fines high-premium, c...Read More
A Pakistani mill that recently made a rare purchase of a bulk cargo of ferrous scrap from the United States West Coast will now likely buy such shipments with greater frequency, according to sources Fastmarkets spoke to.The trade - involving 30,000 tonnes of shredded scrap priced at $306 per tonne cfr Port Qasim - only came to light on Monday February 24, against the background of global economic...Read More
The CIS steel billet export market strengthened this week after higher-priced bookings came to light on Tuesday February 25.A large cargo of Ukrainian material was sold to Latin America at $402 per tonne fob Black Sea, sources said.And the same producer sold 10,000 tonnes of billet to Ethiopia at $401 per tonne fob Black Sea, they added.Fastmarkets' daily steel billet index, export, fob...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, but buyers expected them to fall even further because of weak demand, market sources said on Tuesday February 25.Local rebar producers announced new monthly domestic prices on February 25.Emirates Steel is now offering rebar at 1,897 dirhams ($516) per tonne ex-works, down from the previous 1,951 dirha...Read More
High inventory levels weighted on China's domestic rebar market on Tuesday February 25 while concerns over overseas demand also led to a drop in export prices.Eastern China (Shanghai): 3,450-3,480 yuan ($491-495) per tonne, down 10 yuan per tonne Northern China (Beijing): 3,380-3,420 yuan per tonne, widened downward by 10 yuan per tonne A pile-up of finished steel due to weak demand and transporta...Read More
The Egyptian Administrative Court will make a ruling on billet and rebar import duties on May 23, after a number of domestic rebar re-rollers appealed to have them removed, market participants told Fastmarkets on Monday February 24.The Egyptian Ministry of Trade & Industry announced definitive import duties on steel billet, rebar and wire rod on October 10 last year. The definitive safeguard duty...Read More
Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.Owned by China's Delong Holdings, the mill in Central Sulawesi province's Indonesia Morowali Industrial Park, will have a total production capacity of 3.5 million tonnes per...Read More
Flat steel sales from Brazilian distributors increased by 5.3% year on year in January, with the country's steel consumption rising amid price increases, according to national flat steel distributors' association Inda. Shipments amounted to 279,400 tonnes last month, against 265,300 tonnes a year before, Inda said on Tuesday February 18."The market is improving slowly," Inda president Carlos Loure...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 25 that are worth another look.European steel producers, represented by regional steel association Eurofer, hope to achieve a further toughening of the region's existing safeguard measures on steel product imports, market sources told Fastmarkets on February 25.The US Midwest aluminium premium reversed a more than nine-mon...Read More
The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday February 25, with the price edging down by 0.3% in a broadly positive trading afternoon, while lead futures topped the base-metals complex.Zinc's outright price on the LME closed at $2,030 per tonne in the afternoon, failing to close in positive territory despite strong turnover throughout the day....Read More
Rebar producers from the Commonwealth of Independent States (CIS) region tested higher offers in the market in the week to Monday February 24, following the surge in raw materials prices in the global market, particularly ferrous scrap, market sources said.Offers for Ukraine-origin rebar were reported within the range of $445-450 per tonne fob Black Sea, against $440 per tonne heard a week earlier...Read More
Rebar prices in the Central Federal District around Moscow, Russia, increased this week after Tula Steel announced a reduction in supplies due to a planned stoppage its main pig iron supplier, Tulachermet. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT, was 33,000 rubles ($506.42) per tonne on Tuesday February 25, u...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 25 that are worth another look.European steel producers, represented by regional steel association Eurofer, hope to achieve a further toughening of the region's existing safeguard measures on steel product imports, market sources told Fastmarkets on February 25.The US Midwest aluminium premium reversed a more than nine-mon...Read More
Trade disputes and geopolitical uncertainties had already made the prospects for global economic growth uncertain. A coronavirus has now added to the challenges facing financial markets.The epicenter of the virus is Wuhan, an important commercial hub in China that is home to 11.9 million people, including the country's largest student population. It is also a manufacturing hub, with around 500 fac...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebarEast China, domestic, grade III 16-25mm...Read More
The three-month zinc price on the London Metal Exchange was lower at the close of trading on Tuesday February 25, with the price edging down by 0.3% in a broadly positive trading afternoon, while lead futures topped the base-metals complex.Zinc's outright price on the LME closed at $2,030 per tonne in the afternoon, failing to close in positive territory despite strong turnover throughout the day....Read More
Seaborne coking coal prices were largely unchanged on Tuesday February 25 due to a lack of trading activity in the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $159.20 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.13 per tonne, unchangedHard coking coal, fob DBCT: $142 per tonne, up by $0.37 per tonne ...Read More
Seaborne iron ore prices were down on Tuesday February 25 amid heightened concerns about the novel coronavirus (2019-nCov) outbreak outside China and the resulting risk averse attitude of traders. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $90.83 per tonne, down $1.05 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $91.84 per tonne, down $0.98 per tonne. 58% Fe fines high-premium, c...Read More