Cold-heading quality (CHQ) wire rod prices have fallen following February's lower ferrous scrap settlement, while the cost of high-carbon rod is stable, sources told Fastmarkets. Fastmarkets' assessment for steel wire rod cold-heading quality (CHQ), ddp was at $37.50 per hundredweight ($750 per short ton) on Friday February 21, down by 1.3% from $38 per cwt last month. The cost of Chicago No1...Read More
Prices for hot-rolled coil in the United States have again risen above $29 per hundredweight ($580 per short ton), and sources told Fastmarkets they believe prices will be rangebound in the near term.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $29.09 per cwt ($581.80 per ton) on Monday February 24, up by 1.4% from $28.70 per cwt on Friday February 21 and...Read More
Steel plate prices in the United States have held steady, with mills floating the idea of issuing price increases in an effort to kick-start forward buying. Market participants reported that some plate producers have discussed the idea of issuing hikes but may hold off and let sheet mills attempt a foray first. Others said the economic impact of the novel coronavirus (2019-nCoV) outbreak woul...Read More
The Turkish deep-sea scrap import market went quiet at the beginning of the week, with no significant bookings heard, sources told Fastmarkets on Monday February 24.The Turkish steel producers booked eight deep-sea cargoes at rising prices last week, totaling some 250,000 tonnes.However, market participants believe prices have now stabilized, and no further changes are expected...Read More
Turkish domestic scrap prices have continued to increase over the past week in response to rising imported scrap values, market sources said on Monday February 24.Prices for imported scrap have been climbing in recent weeks on demand from Turkish steel producers. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $284.04 per tonne on February 21, up from $274...Read More
Rising imported ferrous scrap prices in Turkey provided upward momentum to global scrap prices during the working week ended Friday February 21, with prices in most major import destinations surging due to the boost in demand.Turkish import scrap prices rise on buying spreeUS export scrap prices push upward on fresh Turkish dealsTaiwan import scrap prices surge on higher freight costs, Vietnam pri...Read More
Seaborne iron ore prices were largely steady on Monday February 24 following an upward trend last week, with market participants contemplating the direction of prices for this week.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.88 per tonne, down $0.37 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.82 per tonne, down $0.34 per tonne.58% Fe fines high-premium, cfr Qingdao: $79.72...Read More
Seaborne coking coal prices were flat on Monday February 24, with market participants waiting for new drivers to emerge in China.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: $141.63 per tonne, unchangedHard coking coal, cfr Jingtang: $149.44 per tonne, unchangedA co...Read More
Anglo American has revised its metallurgical coal production guidance for 2020 to 19-21 million tonnes, down by 2 million tonnes from an earlier guidance of 21-23 million tonnes, the miner said late last week.The lower guidance is due to a roof collapse at its Moranbah North mine in Queensland,...Read More
China's hot-rolled coil prices rose in the eastern region but weakened in the north on Monday February 24 on mixed sentiments caused by downstream industries' low operating rates despite many companies having resumed work.DomesticEastern China (Shanghai): 3,550-3,570 yuan ($505-508) per tonne, up 50 yuan per tonneNorthern China (Tangshan): 3,350-3,360 yuan per tonne, narrowing downward by 20 yuan...Read More
China's domestic rebar prices increased on Monday February 24 due to a pick-up in activity among trading houses, market participants said. Eastern China (Shanghai): 3,460-3,490 yuan ($492-496) per tonne, up 40 yuan per tonne Northern China (Beijing): 3,390-3,420 yuan per tonne, up 40 yuan per tonne Some traders took orders from end-users with delivery time in February and March in late...Read More
Key data from the pricing session in Europe and Asia for the week ended Friday February 21. Europe Key driversPrices for silicon grades 4-4-1 and 5-5-3 jumped again in Europe due to a lack of prompt shipments exacerbating already tight supply.The novel coronavirus (2019-nCoV) outbreak has caused disruptions to the flow of material from China.A number of European buyers reported difficulty...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday February 21. China Key drivers Some antimony suppliers lifted their offer prices again and were resistant to compromising on offers last week, citing limited available cargo, according to market sources. A number of producers and traders held off from offering in anticipation of higher prices in the coming week...Read More
The price of UG2 chrome ore dropped in the week to Friday February 21 due to lower bids from alloy smelters after China's major stainless steel mills kept their February tender prices flat month on month. China's Tsingshan Group and Taiyuan Iron and Steel (Tisco) held their ferro-chrome tender prices for February delivery unchanged from January. The latest tender prices came as a shock to the mark...Read More
Chinese rebar remained the most competitively priced of imports of the long steel product in Singapore over the past week, edging out Turkish products.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-435 per tonne for the week to Monday February 24, unchanged fro...Read More
Q1...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subscri...Read More
LME aluminium struggling to attract dip-buying...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest...Read More
Aluminium Follow-through selling pushed the LME aluminium three-month...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecas...Read More
Diverging trends between LME and SHFE ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as so...Read More
Price drift continues Lead prices...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon...Read More