Hot-rolled coil prices in the United States went down slightly on Friday November 15, with some mills filling holes in their December order books at lowered prices, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $26.33 per hundredweight ($526.60 per short ton) on Friday, down by 0.3% from $26.41 per cwt on November 14 due to certain d...Read More
Cold-rolled coil and galvanized steel prices in the United States increased on Thursday November 14 due to a continued rebound in hot-rolled coil pricing, although sentiment about the current market was mixed.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US was at $36 per hundredweight ($720 per short ton) on Thursday, up by 1.4% from $35.50 per cwt the previous we...Read More
All equipment at the ArcelorMittal Italia flat steel plant in Taranto, southern Italy, will be idled by the middle of January 2020, the company confirmed on Friday November 15.This follows global steelmaker ArcelorMittal's decision, announced last week, to pull out of the deal for the plant.The steelmaker will put equipment on stand-by. Blast furnace (BF) No2 will be idled in the middle of Decembe...Read More
Brazilian slab export prices declined this week, though market participants are optimistic that demand is starting to recover.Offers for Brazilian slab to the United States were heard as low as $345 per tonne fob, and there was at least one offer made at $350-355 per tonne fob. Prices above $355 per tonne fob were considered not viable.Fastmarkets' weekly price assessment for steel slab exports, f...Read More
Domestic rebar prices in Poland have increased over the past week in response to higher costs for scrap raw material, sources told Fastmarkets on Friday November 15.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 1,980-2,000 zloty ($508-513) per tonne on November 15, compared with 1,950-1,970 zloty per tonne ex-works last week.The assessment reflec...Read More
Domestic prices for secondary steel billet in India over the week to Friday November 15 fell by 400 rupees ($6) per tonne, with makers of long steel products reducing their purchases of semi-finished material on a lack of sustained demand for products such as rebar.The price of steel billet, domestic, exw India, was assessed by Fastmarkets on November 15 down by 400 rupees per tonne to 26,000-26,2...Read More
The CIS export billet price picked up at the end of the week on a booking to Turkey, market participants said.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $380 per tonne on Friday November 15, up by $5 day-on-day.Russia's Abinsk Electric Steel Mill sold a cargo of billet to Turkey this week at $393 per tonne cfr, sources told Fastmarkets. According to various assessments,...Read More
The inter-merchant spot price for light iron scrap in the UK narrowed higher in the week ended Friday November 15, with firm demand possibly pushing up prices in the near term, trade sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?75-90 ($96-116) per tonne on Friday, up by ?5 per tonne at the low end...Read More
Suppliers in the UK have won a round of price increases for their monthly intake of ferrous scrap from domestic suppliers for November delivery contracts, paring losses made the month before.This was in line with a recovery in export prices, Fastmarkets heard on Friday November 15.The UK monthly steel scrap market to domestic consumers has settled with prices up by an average of ?15 ($19) per ton...Read More
The price of grade-316 stainless steel scrap in the UK domestic market decreased substantially this week on lower nickel and molybdenum prices, sources told Fastmarkets on Friday November 15. Fastmarkets' assessment for stainless steel scrap 316 solids domestic, delivered merchants UK was ?1,170-1,250 ($1,504-1,607) per tonne, down by ?50-80 per tonne. The sharp drop was driven by decreases in b...Read More
The price of ferrous scrap imported into India continued to climb this week, despite mixed sentiment and only limited trading towards the end of the week, sources told Fastmarkets on Friday November 15.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva, India, was calculated at $289.63 per tonne on Friday, up from $284.15 per tonne a week earlier.Deals were heard for shredded...Read More
The Turkish steel mills went through the last working day of the week with no deep-sea scrap bookings, while prices were mostly stable, sources said on Friday November 15.Offers of HMS 1&2 (80:20) grade scrap from suppliers in the United States have been steady around $260 per tonne cfr Turkey.Those offers compared with the most recent US cargo sold at a similar price on November 13.A steel mill i...Read More
Seaborne coking coal prices saw little movement on Friday November 15 amid divided opinion on the impact that the latest import restrictions at Chinese ports would have on the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.81 per tonne, down $0.72 per tonnePremium hard coking coal, cfr Jingtang: $147.82 per tonne, down $1.42 per tonneHard coking coal, fob DBCT: $120.70 per tonn...Read More
China's rebar prices continued to rise on Friday November 15, though traders have started to become more cautious about the market losing its upward momentum.DomesticEastern China (Shanghai): 3,860-3,900 yuan ($550-555) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,700-3,720 yuan per tonne, up 20-30 yuan per tonneDemand was robust, especially in eastern China, amid continual gains...Read More
China's hot-rolled coil producers raised their offers on Friday November 15 on strong buying activity throughout this week.DomesticEastern China (Shanghai): 3,590-3,600 yuan ($511-513) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,560 yuan per tonne, unchangedSpot prices in eastern China edged up after mills raised their offers by 20 yuan per tonne during the day in response to robus...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Stainless steel prices in the European domestic market were unchanged this week, with market participants monitoring nickel prices to gauge how the alloy surcharge for December might develop, sources told Fastmarkets on Friday November 15. Alloy surcharges for December will be calculated based on nickel prices from October 21 to November 20. So far the average value of the nickel th...Read More
An overview of the noble alloys markets and their latest price moves.Read More
Fastmarkets has corrected its UK and Rotterdam export steel scrap prices, which were published incorrectly on Friday November 8. Fastmarkets' price assessment for steel scrap HMS 1&2 (80:20 mix) export, fob main port UK was published in error on November 8 at $253-255 per tonne, but has been corrected to $232-234 per tonne. Fastmarkets' price assessment for steel scra...Read More
Steelmakers in Germany have settled their monthly steel scrap contracts for November with an average month-on-month rise of ?,?25-30 ($28-33) per tonne, sources told Fastmarkets this week.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill Germany, was ?,?225-235 ($248-259) per tonne in the middle of November, up from ?,?195-205 per tonne i...Read More