Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
Chilean copper production grew by 1.2% year-on-year in September, as higher output from state-owned Codelco offset a drop from Escondida and Collahuasi, the country's copper commission, Cochilco, said on Thursday November 7.Total production reached 483,800 tonnes of copper content during September, up from 478,200 tonnes a year earlier.Output during the January-September period came to 4.24 millio...Read More
Key data from the pricing sessions in London and Shanghai in the week to Friday November 8. China Key drivers The Chinese domestic tungsten concentrate market has been under pressure since late October due to lukewarm demand from end users after customers retreated from the market. Concentrate suppliers cut their offer prices to encourage buying in the face of weak market confidence. The pr...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers The antimony, MMTA standard grade II, ddp China price fell for the first time since the end of August, which was just before the price started trending upward in response to the successful auction of stocks held by the defunct Fanya Metal Exchange in early September. Some supp...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers Chinese silicon export market continued to gain upward momentum for the third consecutive week in response to supply tightness in the domestic market after southern Chinese refiners halted their operations due to a lack of cheap hydroelectric power during dry season which typically lasts...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
Concerns that China-United States trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampened sentiment in the metals.That said, US equities went on to brush off the news with markets closing at record highs again on Friday November 8. Gold prices break below support as US...Read More
The downtrend in the market for hot-rolled and cold-rolled steel sheet in Russia's Central Federal District around Moscow has continued, under pressure from low end-user demand, sources told Fastmarkets on Monday November 11.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-41,000 roubles ($619-642) per tonne on November 11, including 20% VAT...Read More
The export market for hot-rolled and cold-rolled coil from the Commonwealth of Independent States has improved on a bullish mood among suppliers, which preferred to step back from the market rather than to continue sales at low prices, sources told Fastmarkets on Monday November 11.Fastmarkets' price assessment for steel HRC, export, fob Black Sea, CIS, was $375-385 per tonne on November 11, up fr...Read More
Producers of hot-rolled coil in Northern Europe have been holding back from offering material amid low prices, sources told Fastmarkets on Monday November 11.This break in trading will support domestic prices which have finally stabilized after several months of decreases, the sources said."I think mills will prefer to wait before making new offers, until buyers become hungry for orders," one Euro...Read More
Here are five Fastmarkets MB stories you might have missed on Monday November 11 that are worth another look.Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on November 11.Chilean copper production grew by 1.2% year on year in September, a...Read More
Special bar quality (SBQ) steel prices in the United States moved sideways across cold-finished and hot-rolled grades this month despite higher ferrous scrap prices due to reports of discounting and overall weak demand.Fastmarkets' price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US stood at $34 per hundredweight ($680 per ton) on Frid...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
Fastmarkets has corrected its daily index for steel billet exports, fob Black Sea, which was published incorrectly on Monday November 11 due to a reporter error.The daily steel billet index, export, fob Black Sea, CIS, was wrongly published as $380 per tonne on Monday. It should have been $373 per tonne.Fastmarkets' price book and database have been updated to reflect this correction.For more info...Read More
Prices in the CIS export slab market picked up in the week to Monday November 11, supported by increased demand in Turkey and China as well as a stronger finished flat steel sector both domestically and in some of customers' markets.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $340-360 per tonne on November 11, up by $5-15 per tonne.Early last week, several...Read More
Some rebar producers in Egypt increased their rebar prices with effect from Monday November 11, Fastmarkets has learnt.The country's biggest producer, Ezz Steel, is now offering rebar at E ?10,370 ($641) per tonne ex-works, up from the previous E ?9,900 per tonne ex-works, including 14% VAT.And the rebar price from Misr Steel is now E ?10,000...Read More
Chinese steelmaker Hebei Jingye Group has agreed to acquire British Steel, including its Scunthorpe steelworks and other assets, the UK government's Official Receiver and the company's administrator, EY, said on Monday November 11. The sale will also include British Steel's shares in TSP Engineering and Redcar Bulk Terminal in the UK, along with FN Steel in the Netherlands and Briti...Read More