Broader markets are generally weaker this morning, Wednesday December 18, with equities in Asia mainly lower, metals mixed and havens little changed.In Europe, fear that a hard Brexit has not vanished is weighing on sentiment, especially in sterling, while a lack of detail on the United States-China trade deal has made it difficult for markets to see further follow-through buying. Equities in Asia...Read More
Consumers of batteries are seeking more price transparency in the lithium market, Albemarle said, while predicting the market will move to undersupply by the middle of the next decade. Lithium producer Albemarle said part of its customer base is "pressing for more visibility" on pricing and is looking to move away from fixed long-term contract pricing. "Auto original equipment manufacturers (OEMs)...Read More
European producers of heavy steel plate have increased domestic prices further this week, sources told Fastmarkets on Wednesday December 18.Transaction prices are expected to rise, supported by combination of higher slab costs for re-rollers, some recovery in demand due to re-stocking activity and a positive mood in the EU coil market, sources said.Fastmarkets' weekly price assessment for&nbs...Read More
China's hot-rolled coil exporters kept their offers high on Wednesday December 18 despite sliding domestic prices amid a limited supply of cheaper goods from other parts of the world in the international market.DomesticEastern China (Shanghai): 3,870-3,880 yuan ($553-554) per tonne, down 10 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowed downward by 10 yuan per tonnePrices...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose over the past week with steelmakers increasing their offers in response to a strengthening domestic market.Sources told Fastmarkets that a stronger Chinese yuan had also encouraged exporters to raise their offers to make up for any shortfall from selling in dollars. The exchange rate was 6.9969 yuan to $1 on Wednesday D...Read More
Domestic wire rod prices in the United States have continued on a slow and steady climb following recent mill increases, although activity remains muted headed into the end of the year, sources said. Fastmarkets' price assessment for steel wire rod (low carbon) industrial quality, fob mill US rose to $29.25-30.25 per hundredweight ($585-605 per short ton) on Tuesday December 17, up by 0.8% from $2...Read More
European distributors of flat steel products reported a 3.6% year-on-year drop in shipment volumes in January-October 2019, Eurometal said this week.And multi-product distributor shipments in the region fell by 4.8% year-on-year in the first 10 months of this year, Eurometal said, with declines reported for most products and only rebar registering an...Read More
The price of steel mesh-quality wire rod in the Northern and Southern European domestic markets narrowed upwards, with sellers consolidating recent price increases, sources told Fastmarkets. Sellers had previously managed to push through partial increases based on rising ferrous scrap cost; this week they were able to replicate this across their customer bases. Fastmarkets' weekly price assessment...Read More
Seaborne prices for mid-grade iron ore came under some pressure on Wednesday December 18, with steelmakers in China continuing to show a preference for materials sold at Chinese ports.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.20 per tonne, down $0.87 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.29 per tonne, down $0.87 per tonne.62% Fe low-alumina fines, cfr Qingdao: $93...Read More
Indonesian ferrous scrap demand should continue to grow in 2020 despite the new rules imposed by authorities."The new regulations should be smoothed out over the next couple of months and containerized scrap shipments should resume within the first half of the year," Hoffman Iron & Steel chief executive Phil Hoffman told Fastmarkets.He was referring to the new regulations enacted by the Indonesian...Read More
European producers of heavy steel plate have increased domestic prices further this week, sources told Fastmarkets on Wednesday December 18.Transaction prices are expected to rise, supported by combination of higher slab costs for re-rollers, some recovery in demand due to re-stocking activity and a positive mood in the EU coil market, sources said.Fastmarkets' weekly price assessment for&nbs...Read More
The downtrend in China's domestic rebar market persisted on Wednesday December 18 due to weak demand caused by bad weather. Eastern China (Shanghai): 3,800-3,830 yuan ($542-547) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,490-3,520 yuan per tonne, widened downward by 10 yuan per tonneRain in eastern China lowered procurement rates, which weighed on prices for rebar, sources said.M...Read More
Indonesian ferrous scrap demand should continue to grow in 2020 despite the new rules imposed by authorities."The new regulations should be smoothed out over the next couple of months and containerized scrap shipments should resume within the first half of the year," Hoffman Iron & Steel chief executive Phil Hoffman told Fastmarkets.He was referring to the new regulations enacted by the Indonesian...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 18.Key driversThe price range of alloy has narrowed over the past week, with the low end moving up as sources reported deals done towards the upper end and with previous lows disappearing.Producers and traders are preparing for renewed demand in January in expectation of consumers in the steel sector and other usage areas.T...Read More
Brazilian flat steel producers are seeking price increases of around 5-8% in 2020 annual contract talks with automakers, according to several market participants.Automotive producers in Brazil are usually supplied under annual contracts. "Steelmakers are trying to apply price increases of 5.5-7% to carmakers," Inda president Carlos Loureiro said on Tuesday December 17.Another market participant sa...Read More
Fastmarkets' Middle East Iron and Steel 2019 event brought together hundreds of the region's top industry executives for meetings, panels, seminars and more this month in Dubai.Delegates left the conference armed with valuable insight to better navigate the industry waters made turbulent by safeguards and other protectionist policies. Participants heard calls from the Turkish steel industry for a...Read More
Global trade's main problem is a lack of fair play rather than a lack of fair trade, Ugur Dalbeler, a board member of the Turkish Iron & Steel Producers' Association (T???oeD), said during his presentation at Fastmarkets' Middle East Iron and Steel Conference in Dubai.Several countries and regions are bypassing the World Trade Organization's (WTO) regulations, Dalbeler - also the chief executive o...Read More
The re-election of incumbent Indonesian President Joko Widodo for a second five-year term has made market participants optimistic about an upswing in steel demand from 2020 after market conditions disappointed in 2019. "I expect steel demand to improve next year when the uncertainty in the market fades with the resumption of existing infrastructure developments and the launch of fresh projects," a...Read More
Domestic wire rod prices in the United States have continued on a slow and steady climb following recent mill increases, although activity remains muted headed into the end of the year, sources said. Fastmarkets' price assessment for steel wire rod (low carbon) industrial quality, fob mill US rose to $29.25-30.25 per hundredweight ($585-605 per short ton) on Tuesday December 17, up by 0.8% from $2...Read More
The price of steel mesh-quality wire rod in the Northern and Southern European domestic markets narrowed upwards, with sellers consolidating recent price increases, sources told Fastmarkets. Sellers had previously managed to push through partial increases based on rising ferrous scrap cost; this week they were able to replicate this across their customer bases. Fastmarkets' weekly price assessment...Read More