Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil increased in the week to Friday February 21, amid improving demand and low stock levels, sources told Fastmarkets.In addition, some coated coil producers still had a shortage of hot-rolled coil - the base product for coated flat steel - so were reluctant to give discounts.Domestic pricesLocal producers were offering...Read More
Hot-rolled coil import prices decreased in Turkey during the week ended Friday February 21, with demand remaining moderate due to low domestic stock levels across the country, market participants said.Scrap prices continued to increase during the week, with the Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, reaching $273.48 per tonne on February...Read More
Polish domestic rebar prices were stable during the week to Friday February 21 after a decrease the previous week, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland, was unchanged at 2,050-2,150 zloty ($517-543) per tonne on February 21. This follows a decline to this level on February 14 from 2,150-2,200 zloty...Read More
Higher raw materials costs in the global market, particularly for scrap, spurred some Egyptian rebar producers to raise their offers to domestic customers during the week to Thursday February 20.Ezz Steel was offering rebar at E ?10,100 ($646) per tonne, up from E ?9,900 per tonne a week earlier, although it was ready to give an E ?80-per-tonne discount if a firm bid was made.Suez Steel announced...Read More
Prices in Southeast Asia's steel billet market declined during the week to Friday February 21 because of low-priced Japanese billet transactions and competitive offers for Chinese billet.But market sentiment turned positive towards the end of the week, with sources saying that prices are likely to have bottomed out for now.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast...Read More
The inter-merchant spot market for light iron scrap in the UK was unchanged in the week ended Friday February 21, stable for a second week amid steady demand and regular increases in European scrap export prices, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?70-90 ($90-116) per tonne on Friday....Read More
The price of ferrous scrap imported into India surged this week on freight rate increases and a rising Turkish scrap market, sources told Fastmarkets on Friday February 21.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $303.09 per tonne on Friday, up by $16.13 per tonne from $286.96 per tonne one week ago.Deals for shredded at the start of the week were...Read More
Turkish deep-sea scrap import prices continued to surge on Friday February 21, with mills booking more cargoes for March shipment, sources told Fastmarkets.A steel producer in the Izmir region booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $280 per tonne, 10,000 tonnes of shredded at $285 per tonne and 2,000 tonnes of bonus at $290 per tonne cfr.Another steel mill in the Iskender...Read More
Higher raw materials costs in the global market, particularly for scrap, spurred some Egyptian rebar producers to raise their offers to domestic customers during the week to Thursday February 20.Ezz Steel was offering rebar at E ?10,100 ($646) per tonne, up from E ?9,900 per tonne a week earlier, although it was ready to give an E ?80-per-tonne discount if a firm bid was made.Suez Steel announced...Read More
Prices in Southeast Asia's steel billet market declined during the week to Friday February 21 because of low-priced Japanese billet transactions and competitive offers for Chinese billet.But market sentiment turned positive towards the end of the week, with sources saying that prices are likely to have bottomed out for now.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast...Read More
China's domestic rebar prices rose on Friday February 21 amid strengthening futures and higher demand, which left some with the impression that the market had bottomed out.Eastern China (Shanghai): 3,420-3,450 yuan ($487-491) per tonne, up 20 yuan per tonne Northern China (Beijing): 3,350-3,380 yuan per tonne, up 20-30 yuan per tonne DomesticMore end users have started working, though so far they...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.ChinaThe price of UG2 chrome ore dropped amid bids from alloy smelters as low as $130 per tonne after China's major stainless steel mills kept their February tender prices flat month-on-month.The market had expected a rise and the rollover knocked sentiment.Spot Chinese ferro-chrome pric...Read More
The price of stainless steel in the European domestic market was unchanged in the week to Friday February 21, but decreases are expected for March due to weaker nickel values, sources told Fastmarkets.Finland-based stainless steel producer Outokumpu announced on Friday that its monthly alloy surcharge for grade-304 flat products in March will decrease by ?,?79 per tonne from February, to...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
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 21.China The Chinese ferro-silicon spot price remained as high as in the previous week with major alloy producers holding their offer prices at 6,800 yuan ($966) per tonne. Cross-provincial transport has slightly improved in the past week. Market participants expected a downtrend in the spo...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Logistics disruptions across China have paralysed many of the country's supply chains since the outbreak of a novel coronavirus infection forced authorities to clamp down on movements of material and people within the country.What has become increasingly evident is that different areas have seen their abilities to operate and to move cargoes affected to varying degrees, and that some mining, metal...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday February 21, closing at its lowest level since June 2019 against thin turnover, while lead futures failed to hold onto gains made earlier in the day.Nickel's outright price on the LME closed at $12,530 per tonne in the afternoon, ending a weekly price decline that saw it sink from a high of $13,21...Read More