Steel demand in North Africa is projected to grow by around 3% in the coming year to 23.5 million tonnes, delegates were told at Fastmarkets' Middle East Iron & Steel Conference in Dubai on December 9-11.Ramy Saleh, the chief business development officer at Egypt's El Marakby Steel cited gross domestic product and population growth as the main drivers of steel demand in the region, which, accordin...Read More
The European steel industry has welcomed the European Commission's recently launched European Green Deal although further policy and support are required to ensure competitiveness.The European Union plans to be the first climate-neutral continent by 2050 through key policies to cut emissions and invest in research and innovation for green technologies. The decarbonization and modernization of ener...Read More
Brazilian apparent steel consumption dropped by 2.1% year on year in November, as an increase in long-steel demand was not enough to offset a quick decline reported for flat-rolled products, national steelmakers' association Instituto A??o Brasil said on Thursday December 19.Steel consumption totaled 1.72 million tonnes during November, down from 1.76 million tonnes a year before.Flat-steel use wa...Read More
Prices for steel reinforcing bar in the United States ticked up following increase announcements from several domestic mills, and sources expect that uptrend will continue next year if ferrous scrap values move up as anticipated in the January 2020 trade.Fastmarkets assessed the price for steel reinforcing bar (rebar), fob mill US at $29.50-30.50 per hundredweight ($590-610 per short ton) on...Read More
Most copper scrap discounts in the United States increased as the Comex copper price continued to strengthen week on week. Fastmarkets assessed the copper scrap No1 copper (also known as brass mills' bare bright), discount, buying price, delivered to brass mill US, at 12-14 cents per lb on Wednesday December 18, increasing from 11-13 cents per lb the week before.Also registering 1-cent gains were...Read More
Steel demand in North Africa is projected to grow by around 3% in the coming year to 23.5 million tonnes, delegates were told at Fastmarkets' Middle East Iron & Steel Conference in Dubai on December 9-11.Ramy Saleh, the chief business development officer at Egypt's El Marakby Steel cited gross domestic product and population growth as the main drivers of steel demand in the region, which, accordin...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 19 that are worth another look.What's in store for the steel and scrap markets in 2020?Most copper scrap discounts in the United States increased as the Comex copper price continued to strengthen week on week.Spot market prices for alloy-grade and standard-grade cobalt diverged in the first half of the week.Two weeks o...Read More
The European steel industry has welcomed the European Commission's recently launched European Green Deal although further policy and support are required to ensure competitiveness.The European Union plans to be the first climate-neutral continent by 2050 through key policies to cut emissions and invest in research and innovation for green technologies. The decarbonization and modernization of ener...Read More
Base metals prices other than lead closed higher on the London Metal Exchange on Thursday December 19, bolstered by an injection of liquidity into China's open markets, while a weaker US dollar index also proved supportive.Three-month prices trading mixed this morning but ultimately gathered upward momentum after the People's Bank of China (PBoC) injected 30 billion yuan ($4.3 billion) into financ...Read More
Seaborne iron ore prices experienced a slight uptick on Thursday December 19 amid ferrous futures gains in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.77 per tonne, up $0.57 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.86 per tonne, up $0.57 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93.66 per tonne, up $0.54 per tonne.58% Fe fines high-premium, cfr Qingdao: $...Read More
Nickel broke above $14,000 per tonne again in the morning trading session on the London Metal Exchange on Thursday December 19 despite further stock inflows.The three-month nickel price has traded at an intraday peak of $14,115 per tonne, up around 1.6% on the previous day's close despite stocks in LME-listed warehouses rising by a net 3,324 tonnes to 136,770 tonnes - they have more than doubled t...Read More
Base metals prices other than lead closed higher on the London Metal Exchange on Thursday December 19, bolstered by an injection of liquidity into China's open markets, while a weaker US dollar index also proved supportive.Three-month prices trading mixed this morning but ultimately gathered upward momentum after the People's Bank of China (PBoC) injected 30 billion yuan ($4.3 billion) into financ...Read More
All Fastmarkets prices and premiums due to be published at 4pm London time on Thursday December 19 were delayed due to a technical error. The prices were published six minutes late; the Fastmarkets pricing database, MInD, for all prices has now been updated. The prices affected by the delay include: Aluminium P1020A premium, in-whs dup Rotterdam, $/tonne Alumina index, fob Australia, $/tonne ...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday December 19 that are worth another look.What's in store for the steel and scrap markets in 2020?Most copper scrap discounts in the United States increased as the Comex copper price continued to strengthen week on week.Spot market prices for alloy-grade and standard-grade cobalt diverged in the first half of the week.Two weeks o...Read More
Nickel broke above $14,000 per tonne again in the morning trading session on the London Metal Exchange on Thursday December 19 despite further stock inflows.The three-month nickel price has traded at an intraday peak of $14,115 per tonne, up around 1.6% on the previous day's close despite stocks in LME-listed warehouses rising by a net 3,324 tonnes to 136,770 tonnes - they have more than doubled t...Read More
China's stainless steel market strengthened over the past week amid higher nickel prices on the London Metal Exchange, though a pick-up in trading activity eased selling pressure among steelmakers. The three-month nickel contract on the London Metal Exchange ended Wednesday's trading session at $13,895-13,900 per tonne, up $260-265 per tonne from $13,630-13,640 per tonne a week earlier. DomesticFa...Read More
Base metals prices on the Shanghai Futures Exchange were mostly in positive territory at the end of the morning trading session on Thursday December 19, with the complex buoyed by news earlier today that China's central bank had injected another round of cash into the country's financial system.The People's Bank of China (PBOC) on Thursday injected 30 billion yuan ($4.3 billion) into the market vi...Read More
Turkish billet prices have gone up this week in response to rising imported scrap costs, sources said on Thursday December 19.Suppliers in the Commonwealth of Independent States (CIS) region have raised their offers for billet to $425-430 per tonne cfr Turkey, from last week's $420-425 per tonne.Customers in Turkey, however, are still seeking prices of $410-415 per tonne cfr.Fastmarkets'...Read More
Turkish rebar and wire rod prices have gone up over the past week on improving demand and higher imported scrap costs, sources said on Thursday December 19.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey was $445-450 per tonne on Thursday, up from the $435-440 per tonne of last week.Turkish steel producers have raised their offers for rebar expor...Read More
Domestic long steel prices in Turkey have increased over the past week amid rising scrap import costs. But demand was still limited, sources said on Thursday December 19.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,120-3,140 Turkish lira ($528-532) per tonne on Thursday, up from 3,020-3,070 lira per tonne last week.The domestic rebar price in th...Read More