Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased during the week ended Tuesday August 27 on lower offers, with demand yet to recover as buyers hold back until prices reach a bottom. The market is expected to improve after prices stop falling, according to sources. UAE Offers for imports of hot-rolled coil (HRC) from China to the UAE were heard a...Read More
China's hot-rolled coil prices tumbled again on Tuesday August 27 in both the spot and futures markets, with the possibility of easing production cuts in the north leaving participants with a bearish outlook for prices amid trade tensions with the United States.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($504-508) per tonne, down 50-70 yuan per tonneNorthern China (Tangshan): 3,600 yuan pe...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products.Latest transaction: rebar, wire rodRebar East China, domestic, grade III 16-25mm...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More
Domestic prices for auto bundle steel scrap in Turkey have increased because of the weakening value of the country's lira, but ship scrap prices have been stable, sources said on Tuesday August 27.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,580-1,770 ($272-304) per tonne on August 27, narrowing upward from last week's TRY1,550-1,770...Read More
Seaborne iron ore prices fell on Tuesday August 27, closing in on $80 per tonne cfr, amid weaker futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.35 per tonne, down $2.56 per tonne. 62% Fe Pilbara Blend Fines, cfr Qingdao: $82.73 per tonne, down $2.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.07 per tonne, down $3.25 per tonne. 58...Read More
The Black Sea export market for steel slab has come under pressure from the downtrend in the finished flat steel market and the weak sentiment heard in most outlets at the end of this month, Fastmarkets heard on Tuesday August 27.Buying activity in the traditional markets of Europe and Turkey was reduced because of holiday absences among potential customers. But both markets were expected to show...Read More
Prices for steel rebar and billet in the United Arab Emirates have gone down over the past week, with demand remaining poor, sources said on Tuesday August 27.Market participants believed that demand would improve after the price stopped falling, because buyers did not want to book when the prices were still on the way down.Domestic rebarEmirates Steel is the UAE's largest producer, and was offeri...Read More
China's rebar prices continued to experience pressure from the country's protracted trade tensions with the United States on Tuesday August 27.Domestic Eastern China (Shanghai): 3,550-3,600 yuan ($497-504) per tonne, down 70-90 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, down 50 yuan per tonneSimmering tensions between the world's two largest economies pushed down rebar pri...Read More
The Chinese ferro-silicon price continued to trend lower over the past week amid persistently weak domestic demand, while prices in Europe and the United States were steady in inactive spot markets. China's domestic ferro-silicon price drops on weak demand, adequate supplyExport price in China steady but vulnerableEU prices steady in quiet marketUS price flat due to inactivity Chinese ferro-s...Read More
Chinese vanadium exporters continued to reduce their offer prices due to lackluster overseas buying interest in the week ended Friday August 23, while European and US markets reported thin trading amid summer mill outages. Chinese exporters reduce offers amid limited buying interest abroad. European ferro-vanadium market faces thin trading. Vanadium pentoxide suppliers in Europe raise...Read More
Aluminium premiums were mostly stable globally during the week ended Tuesday August 27, with participants shifting their focus to longer-term contract negotiations. But the recovery recently seen for Rotterdam material was spreading throughout Europe. Rotterdam uptrend pushing European premiums upMain Japanese port (MJP) premium flat; focus goes to quarterly contractsPremium in United States' Midw...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 27.Please click...Read More
The Chinese ferro-silicon price continued to trend lower over the past week amid persistently weak domestic demand, while prices in Europe and the United States were steady in inactive spot markets. China's domestic ferro-silicon price drops on weak demand, adequate supplyExport price in China steady but vulnerableEU prices steady in quiet marketUS price flat due to inactivity Chinese ferro-s...Read More
The Black Sea export market for steel slab has come under pressure from the downtrend in the finished flat steel market and the weak sentiment heard in most outlets at the end of this month, Fastmarkets heard on Tuesday August 27.Buying activity in the traditional markets of Europe and Turkey was reduced because of holiday absences among potential customers. But both markets were expected to show...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 27 that are worth another look.The whole battery supply chain will benefit from lithium benchmark pricing, according to Fastmarkets head of battery raw materials research William Adams. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles into their portfolios...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
The London Metal Exchange cash/three-month nickel spread was trading in a $79 per tonne backwardation at the close on Tuesday August 27, its narrowest since July 2007 when it traded in a backwardation of $199 per tonne. Historically trading in a healthy contango, nickel's forward curve has recently become prone to pockets of tightness, attributed mostly to technical trading activity. It most recen...Read More