Tensions between the United States and China have risen again after the US House of Representatives passed an act to support Hong Kong protestors - this is unlikely to help trade negotiations and therefore is another headwind for the markets.International Monetary Fund (IMF) warns global growth could fall to levels last seen during the 2008 financial crisis.A Brexit deal may be on the cards, expec...Read More
Key data from the Wednesday October 16 pricing session in Shanghai. Key drivers The price for cobalt metal in China's domestic market edged down this week amid caution from spot buyers following a slump in local futures prices. But persistent tightness for certain domestic brands of the blue metal limited the price decline. In battery raw materials,...Read More
Fastmarkets welcomed leading players from the world's battery makers as well as producers of raw materials to its first European battery event, held in Amsterdam, for insight and discussion on the anticipated surging growth in the market. This PDF includes all the vital market intelligence from Fastmarkets' inaugural European battery materials event. Click on the image below to view the PDF. Read More
Domestic prices for cold-rolled coil (CRC) in the EU have decreased over the past week due to low levels of market activity, sources told Fastmarkets on Thursday October 17."Demand is low and the outlook is gloomy because there are no signs that demand or prices will recover any time soon," a European trader said.In addition, prices for hot-rolled coil, the material used as feedstock for CRC produ...Read More
Demand for passenger cars in Europe jumped by 14.48% year on year in September 2019, the European Automotive Manufacturers Association (ACEA) said on October 16.New car sales in Europe totalled 1,249,403 vehicles in September this year, compared with 1,091,390 units sold in the corresponding month of 2018."To a large extent, this strong year-on-year growth is the result of a low base [for the...Read More
Stronger demand from the energy sector and additional government spending on infrastructure will provide a boost to steel plate prices in Asia next year, a source close to a leading Japanese steelmaker told Fastmarkets this week.The headwinds experienced in the region this year, such as the weak construction sector in Singapore and political uncertainty in Indonesia, were expected to ease, the sou...Read More
The price for imported steel reinforcing bar in the United States nosedived following confirmed offers and deals heard for European-origin material, while the price for US domestic rebar narrowed downward, Fastmarkets has learned. Fastmarkets' assessment for steel rebar, import, cfr Houston was at $517-535 per short ton on Wednesday October 16, down by 9.7% from $575-590 per short ton two weeks ea...Read More
Long steel prices in the Turkish domestic market have gone up over the past week in response to the weakening of the lira against the dollar and rising scrap costs, sources said on Thursday October 17.Fastmarkets' weekly price assessment on Thursday for steel reinforcing bar (rebar), domestic, exw Turkey, was TRY2,880-2,950 ($488-500) per tonne, including 18% VAT, up from last week's TRY2,790-2,80...Read More
Turkish rebar and wire rod export prices have continued to increase in line with the rising costs of imported scrap feedstock, although demand was still limited, sources said on Thursday October 17.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $405-410 per tonne on Thursday, up from the $395-400 per tonne of last week.The mills in the cou...Read More
Turkish steel producers restarted their deep-sea scrap bookings for November shipments at slightly higher prices, sources said on Thursday October 17.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 5,000 tonnes of bonus at $252 per tonne cfr.The previous Baltic Sea cargo reported by Fastmarkets was sold at $237 per...Read More
Seaborne mid-grade iron ore prices continued to stay below the $90 per tonne mark on Thursday October 17. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.06 per tonne, down $0.80 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.10 per tonne, down $0.80 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.84 per tonne, down $0.54 per tonne.58% Fe fines high-premium,...Read More
Turkish steel mills continued to stay away from the deep-sea scrap markets awaiting clarity in the finished steel markets, sources said on Wednesday October 16.Late on Monday October 14, US president Donald Trump said he would impose a 50% tariff on imports of steel from Turkey in response to its military actions in Syria.Following the news, Turkish steel mills suspended their bookings o...Read More
Steel billet prices in the Turkish markets have increased over the past week because of rising scrap costs, sources told Fastmarkets on Thursday October 17.Fastmarkets' weekly price assessment for steel billet, import, cfr main port Turkey, was $365-380 per tonne on Thursday, up from the $360-365 per tonne of last week.https://www.metalbulletin.com/My-price-book.html?price=36276Billet producers in...Read More
Prices in the CIS steel billet export market climbed in the week to Thursday October 17 amid reduced availability following last week's sales to the Middle East and Asia (including to China).Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $369 per tonne on October 17, up by $5 per tonne day on day.Last week, at least one cargo CIS-origin billet was reported sold to Turkey la...Read More
The price for steel rebar in Egypt was stable in the week ended Thursday October 17, but the import price for steel billet has increased, sources have told Fastmarkets.Egyptian rebar producers reduced their domestic prices on September 30 and October 9, but have not made any further changes this week.The reason for the earlier falls was that Egypt's prime minister announced a reduction in the cost...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
Stainless steel prices in China continued to rise over the past week on higher production costs due to elevated nickel prices.Prices for the alloying metal had remained at relatively high levels following the recent move by Indonesia to bring forward its ban on nickel ore exports to 2020 from 2022."Stainless steel prices have maintained an uptrend despite the recent dip in nickel prices because mi...Read More
An overview of the noble alloys markets and their latest price moves. Read More
Prices for hollow steel sections in Northern and Southern Europe moved down this week due to pressure from import prices and feedstock costs, market sources told Fastmarkets on Wednesday October 16.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?560-580 ($617-639) per tonne on Wednesday, down from ?,?580-590 per tonne one week earlier."...Read More
Demand for passenger cars in Europe jumped by 14.48% year on year in September 2019, the European Automotive Manufacturers Association (ACEA) said on October 16.New car sales in Europe totalled 1,249,403 vehicles in September this year, compared with 1,091,390 units sold in the corresponding month of 2018."To a large extent, this strong year-on-year growth is the result of a low base [for the...Read More