Domestic prices for heavy steel plate across Europe have decreased over the past week due to limited trading activity, sources told Fastmarkets on Wednesday July 10.Fastmarkets' weekly price assessment for steel, domestic, plate 8-40mm, exw Southern Europe, was ?,?500-520 ($560-583) per tonne ex-works on July 10, compared with ?,?515-525 per tonne ex-works a week earlier.The assessment reflected d...Read More
China's hot-rolled coil prices fell amid weakening futures, with traders agreeing to sell cargoes with shorter lead times at a discount to those being offered by mills. DomesticEastern China (Shanghai): 3,890-3,900 yuan ($565-566) per tonne, down 30-40 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, down 10-20 yuan per tonneTransaction prices fell across the country even though...Read More
The price of mesh-quality wire rod in Southern Europe has fallen by ?,?10-30 ($11-34) per tonne week on week, because mills in Italy and Spain lowered their offers ahead of the summer slowdown, sources told Fastmarkets on Wednesday July 10.Fastmarkets' assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?470-500 ($527-560) per tonne on Wednesday, do...Read More
Domestic price ranges for hollow steel sections in Northern and Southern Europe widened further this week following pressure from decreased feedstock costs and increased import volumes, sources told Fastmarkets on Wednesday July 10.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?625-640 ($700-717) per tonne on Wednesday, down from ?,?630-640 p...Read More
Steel H-beam prices in Northern and Southern Europe moved down this week following fluctuations in feedstock supply and uncertain market conditions ahead of the seasonal summer slowdown, sources told Fastmarkets on Wednesday July 10.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?570-600 ($639-672) per tonne on July 10, down from ?,?570-605 per tonne one...Read More
Turkish steel producers paused their deep-sea scrap bookings again to take in the latest downturn in steel prices, sources told Fastmarkets on Wednesday July 10.After a steel mill in the Iskenderun region paid $288 per tonne cfr for UK-origin HMS 1&2 (80:20), on Tuesday July 9, the daily scrap indices went down by $14.78 per tonne.The drop was...Read More
Seaborne iron ore prices fell back on Wednesday July 10, after buyers appeared to adopt a wait-and-see stance in response to rising steel product inventories.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $120.96 per tonne, down $0.61 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $120.88 per tonne, down $0.61 per tonne. Fastmarkets' index for iron...Read More
In a rare move, Japan has started selling steel billet to Southeast Asia amid diving scrap prices in the country's domestic market.Steel mills in the Tokyo area have started channeling shipments of the semi-finished product to Southeast Asia, where buyers are prepared to pay higher prices than Japanese re-rollers, market sources said.While the sale of Japanese billet to Southeast Asia is not unpre...Read More
Iranian steel billet and slab prices pushed up in the week to Wednesday July 10 after customers in Asia accepted higher prices following generally positive sentiment in global finished steel markets. Fastmarkets weekly price assessment for Iranian export billet price was $385-390 per tonne fob on Wednesday July 10, up from $375-385 per tonne...Read More
China's rebar prices were flat on Wednesday July 10, but pessimism was the order of the day during what is considered a weak time of the year for the country's steel market.Domestic Eastern China (Shanghai): 3,980-4,000 yuan ($578-581) per tonne, unchangedNorthern China (Beijing): 3,880-3,910 yuan per tonne, unchangedTraders in the spot market kept prices unchanged, at least for the time being, am...Read More
In a rare move, Japan has started selling steel billet to Southeast Asia amid diving scrap prices in the country's domestic market.Steel mills in the Tokyo area have started channeling shipments of the semi-finished product to Southeast Asia, where buyers are prepared to pay higher prices than Japanese re-rollers, market sources said.While the sale of Japanese billet to Southeast Asia is not unpre...Read More
Domestic price ranges for hollow steel sections in Northern and Southern Europe widened further this week following pressure from decreased feedstock costs and increased import volumes, sources told Fastmarkets on Wednesday July 10.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?625-640 ($700-717) per tonne on Wednesday, down from ?,?630-640 p...Read More
The price of mesh-quality wire rod in Southern Europe has fallen by ?,?10-30 ($11-34) per tonne week on week, because mills in Italy and Spain lowered their offers ahead of the summer slowdown, sources told Fastmarkets on Wednesday July 10.Fastmarkets' assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?470-500 ($527-560) per tonne on Wednesday, do...Read More
Domestic prices for hot-rolled coil (HRC) in Europe have decreased over the past week due to poor demand, market sources told Fastmarkets on Wednesday July 10.Buying activity has continued, however, but subject to limited demand from end-users and sufficient stocks held by buyers."Market activity is almost non-existent, and the situation is not going to change because in August the mills will go o...Read More
Domestic prices for heavy steel plate across Europe have decreased over the past week due to limited trading activity, sources told Fastmarkets on Wednesday July 10.Fastmarkets' weekly price assessment for steel, domestic, plate 8-40mm, exw Southern Europe, was ?,?500-520 ($560-583) per tonne ex-works on July 10, compared with ?,?515-525 per tonne ex-works a week earlier.The assessment reflected d...Read More
The price of mesh-quality wire rod in Southern Europe has fallen by ?,?10-30 ($11-34) per tonne week on week, because mills in Italy and Spain lowered their offers ahead of the summer slowdown, sources told Fastmarkets on Wednesday July 10.Fastmarkets' assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?470-500 ($527-560) per tonne on Wednesday, do...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 10 that are worth another look.Bosnian aluminium smelter Aluminij Mostar has shut down after years of financial struggle. Copper-zinc miner Hudbay has appointed former Nevsun chief executive officer Peter Kukielski to take over as its interim CEO after longstanding executive Alan Hair stepped down from the post....Read More
Copper-zinc miner Hudbay has appointed former Nevsun chief executive Peter Kukielski its interim chief executive officer after longstanding executive Alan Hair stood down from the post.Hair had been president and CEO of the company since 2016, having been at Hudbay for more than...Read More
In a rare move, Japan has started selling steel billet to Southeast Asia amid diving scrap prices in the country's domestic market.Steel mills in the Tokyo area have started channeling shipments of the semi-finished product to Southeast Asia, where buyers are prepared to pay higher prices than Japanese re-rollers, market sources said.While the sale of Japanese billet to Southeast Asia is not unpre...Read More
Nickel closed around 2% higher on the London Metal Exchange on Wednesday July 10 after peaking at intraday high above $13,000 per tonne, its highest since April. The three-month price bottomed out at $12,710 per tonne before it reversed higher, breaking past key resistance levels to breach $13,000 per tonne. It closed just short of the mark at $12,990 per tonne. More than 10,000 lots of nickel cha...Read More