Indian steel manufacturers expect the Indian government to trim its support for their exports following an adverse ruling by the World Trade Organization in a subsidy dispute brought by the United States."The [Indian] Ministry of Industry & Commerce was already looking at revamping trade and tax policies, which includes scrapping certain export incentive schemes that have now been termed as s...Read More
Ukraine steelmaker Metinvest will increase hot-rolled coil shipments after the start of a new rolling line at its Ilyich Iron and Steel Works in Mariupol, a move that will help the company to regain its share of the global HRC market, Metinvest's sales director Dmitriy Nikolaenko said."With the reconstruction of the Ilyich strip mill we want to regain our share of the global HRC market, and w...Read More
The price of steel wire rod in Europe was largely unchanged this week although increases were expected in light of the price rises seen in the Turkish scrap market since the beginning of October, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?430-450 ($477-500) per tonne on Novembe...Read More
The price of steel rebar in the Southern Europe domestic market narrowed upward this week on higher scrap costs since the beginning of October, with further increases expected in the coming weeks, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-465 ($505-516) per tonne on Wednes...Read More
The price range for steel rebar in the Northern European domestic market narrowed upward this week with higher ferrous scrap costs in October beginning to be reflected, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?465-475 ($517-527) per tonne on November 6, up by ?,?10 per tonne...Read More
A Turkish steel mill purchased a cargo of ferrous scrap material from the United States at broadly stable prices on Wednesday November 6, following the trend seen in several other cargoes purchased earlier this week, sources have told Fastmarkets.A steel mill in the Iskenderun region purchased a US-origin cargo comprising 22,000 tonnes of HMS 1&2 (90:10) at $262 per tonne and 9,000 tonnes of shred...Read More
Mid-grade seaborne iron ore prices were rangebound on Wednesday November 6 amid continued uncertainty in the market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.47 per tonne, up $0.17 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $83.29 per tonne, up $0.17 per tonne.62% Fe low-alumina fines, cfr Qingdao: $82.86 per tonne, up $0.17 per tonne.58% Fe fines high-premium, cfr Qi...Read More
Brazil's national mining agency, ANM, has concluded that Vale failed to report anomalies before a deadly disaster breach occurred at a tailings dam in its C??rrego do Feij??o mine in January.ANM published a technical report on Tuesday November 5 in which it said internal documents from Vale showed that the miner was aware of several defects in the tailings dam but did not inform the agency before...Read More
CIS billet suppliers failed to win deals at desired higher levels set over the past week despite the uptick in scrap prices as customers preferred to refrain from bookings amid slow demand for finished long steel products.Buyers' price ideas did not exceeed $365 pertonne fob Black Sea. Bids from customers in Egypt were heard at $375-380 pertonne cfr, or $355-360 per tonne fob Black Sea, ...Read More
China's rebar futures rose again on Wednesday November 6 amid bullish sentiment following a cutin loan rates by the country's central bank at the start of the week, which pushed up spot rebar prices. Eastern China (Shanghai): 3,720-3,750 yuan ($532-536) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, narrowed upward by 10 yuan per tonnesThe People's Bank o...Read More
Prices for hollow steel sections in Northern and Southern Europe were unchanged this week while market participants digested the news about ArcelorMittal pulling out of the deal to buy Ilva, market sources told Fastmarkets on Wednesday November 6.A mill source told Fastmarkets that the Ilva situation had changed the market in Italy and that, as a result, some mills had withdrawn their existing off...Read More
Automotive production in Brazil increased by 9.6% year on year in October despite persistently weak exports and only a mild growth rate in new registrations, car manufacturers' association Anfavea said on Wednesday November 6.Production reached 288,512 units last month compared with 263,186 units in the corresponding period last year, which had been the highest monthly figure since Augus...Read More
Indian steel manufacturers expect the Indian government to trim its support for their exports following an adverse ruling by the World Trade Organization in a subsidy dispute brought by the United States."The [Indian] Ministry of Industry & Commerce was already looking at revamping trade and tax policies, which includes scrapping certain export incentive schemes that have now been termed as s...Read More
Brazil's national mining agency, ANM, has concluded that Vale failed to report anomalies before a deadly disaster breach occurred at a tailings dam in its C??rrego do Feij??o mine in January.ANM published a technical report on Tuesday November 5 in which it said internal documents from Vale showed that the miner was aware of several defects in the tailings dam but did not inform the agency before...Read More
Demand for flat steel products in Turkey remained weak in October because of the decline in global prices, market participants told Fastmarkets on Tuesday, November 5.Nonetheless, they added that local producers have now filled their order books until late December.Local demand was already weak in Turkey in September, and political uncertainty in October led to a further fall in&nbs...Read More
The three-month lead price on the London Metal Exchange was lower at the close of trading on Wednesday November 6, settling at its lowest level since early October, while tin's outright price was the only positive move over the day's trading.Lead's futures price on the LME closed at $2,115 per tonne in the afternoon, its lowest closing price since October 1, while turnover was moderate at just und...Read More
The price of steel wire rod in Europe was largely unchanged this week although increases were expected in light of the price rises seen in the Turkish scrap market since the beginning of October, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?430-450 ($477-500) per tonne on Novembe...Read More
Following a month-long consultation period and several months of pre-consultation research, Fastmarkets will launch a fortnightly price assessment for non-exchange-deliverable equivalent-grade (EQ) copper cathode premiums/discounts starting from Tuesday November 19.The cif Europe and cif China price assessments will support Fastmarkets' current benchmarks in Grade A exchange-deliverable markets.De...Read More
The price of steel rebar in the Southern Europe domestic market narrowed upward this week on higher scrap costs since the beginning of October, with further increases expected in the coming weeks, sources told Fastmarkets on Wednesday November 6.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-465 ($505-516) per tonne on Wednes...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday November 6 that are worth another look.Brazil's national mining agency, ANM, has concluded that Vale failed to report anomalies before a deadly disaster breach occurred at a tailings dam in its C??rrego do Feij??o mine in January.A falling US Midwest aluminium premium, stronger currencies in Asia and sustained higher freight r...Read More