Equipment maker Paul Wurth will supply two new blast furnaces to Turkish Erdemir Group's plant located in Eregli, northern Turkey, and Isdemir plant located in Iskenderun, southern Turkey, Paul Wurth said last week.In both cases, one completely new furnace will replace an older production unit, Paul Wurth said.The new blast furnace at the Erdemir location will produce 5,000 tonnes per day of hot m...Read More
China's domestic hot-rolled coil market came under pressure from high production rates coupled with weakening demand on Wednesday May 29, resulting in prices falling.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($575-576) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,880-3,900 yuan per tonne, down 10-20 yuan per tonneHRC producers have kept their production rates high in the p...Read More
Prices for hollow steel sections in Northern Europe were stable this week with market activity restricted by the Ascension Day holiday in many northwest European countries.The holiday will be on May 30 but many sales and procurement personnel in companies' buying and selling sections have taken extended leave, which has affected trading activity.Fastmarkets' domestic price assessment on Wednesday...Read More
The price for rebar produced and delivered in Southern Europe widened downward by ?,?5 ($6) per tonne on Wednesday May 29 amid continuing weak demand, market participants told Fastmarkets.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?495-510 ($553-570) per tonne delivered on Wednesday, down slightly from ?,?500-510 per tonne delivered on May 22."Domestically, th...Read More
Prices for mesh-quality wire rod in Europe have remained stable over the past week, although market participants expected a gradual price recovery after recent falls, sources told Fastmarkets on Wednesday May 29.Fastmarkets' assessment of the price of domestic mesh-quality wire rod in Southern Europe was ?,?500-520 ($559-581) per tonne delivered on May 29, unchanged from May 22, but down from $525...Read More
The Chinese government has started inspections ahead of issuing ferrous and non-ferrous metal scrap import licenses for the second half of 2019 to avoid a potential month-long disruption of all scrap imports, the country's Ministry of Ecology and Environment (MEE) said on Wednesday May 29. The environmental ministry aims to issue the first batch of licenses in late June - right before the launch o...Read More
Turkish deep-sea scrap import prices made a downward correction on increased supply after the recent buying spree by the country's steel mills, sources said on Wednesday May 29.A steel producer booked a Baltic Sea cargo late on May 28, comprising 25,000 tonnes of HMS 1&2 (80:20) at $306 per tonne and 1,000 tonnes of bonus at $316 per tonne cfr.As a result of this transaction, the daily scrap indic...Read More
Iron ore prices rose then fell back again on Wednesday May 29, while the 65% Fe derivative traded actively.MB 62% Fe Iron Ore Index: $106.18 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Pilbara Blend Fines Index: $104.66 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $110.13 per tonne cfr Qingdao, up by $0.61 per tonne.MB 58% Fe Premium Index: $97.99 p...Read More
Equipment maker Paul Wurth will supply two new blast furnaces to Turkish Erdemir Group's plant located in Eregli, northern Turkey, and Isdemir plant located in Iskenderun, southern Turkey, Paul Wurth said last week.In both cases, one completely new furnace will replace an older production unit, Paul Wurth said.The new blast furnace at the Erdemir location will produce 5,000 tonnes per day of hot m...Read More
China's domestic and export prices for rebar moved down on Wednesday May 29 on weakening demand and losses in the billet and futures markets. Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($577-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, narrowed downward by 10 yuan per tonneRebar demand in the construction sector is decreasing gradually ami...Read More
Import prices for stainless steel in East Asia narrowed over the week to Wednesday May 29 after some producers raised their asking prices following the uptick in the London Metal Exchange nickel price although demand in the region remained weak.304 stainless 2mm trimmed cold-rolled coilFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia narrowed...Read More
Prices for hollow steel sections in Northern Europe were stable this week with market activity restricted by the Ascension Day holiday in many northwest European countries.The holiday will be on May 30 but many sales and procurement personnel in companies' buying and selling sections have taken extended leave, which has affected trading activity.Fastmarkets' domestic price assessment on Wednesday...Read More
Equipment maker Paul Wurth will supply two new blast furnaces to Turkish Erdemir Group's plant located in Eregli, northern Turkey, and Isdemir plant located in Iskenderun, southern Turkey, Paul Wurth said last week.In both cases, one completely new furnace will replace an older production unit, Paul Wurth said.The new blast furnace at the Erdemir location will produce 5,000 tonnes per day of hot m...Read More
Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.In the first quarter of 2019, Metinvest's consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volu...Read More
The UK's Insolvency Service has made contact "with more than 80 potential trade purchasers" interested in buying troubled UK long steel producer British Steel, it said on Tuesday May 28.Sixty of the potential bidders have been sent non-disclosure agreements, with official expressions of interest due by early June, the UK's Official Receiver, part of the UK's Insolvency Service, said.British Steel...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been stable over the past week while steelmakers sought higher prices and buyers resisted any rises, market sources told Fastmarkets on Wednesday May 29.Some European flat steel producers, including ArcelorMittal and Marcegaglia, have increased their official offers of HRC while others have stopped giving additional discounts to buyers."If m...Read More
The three-month tin price on the London Metal Exchange decreased by more than 2% at the close of trading on Wednesday May 29, with volumes traded reaching their highest level since 2017 while spread tightness in the metal's forward curve began to ease.Some 850 lots of tin were exchanged by the close on Wednesday afternoon, with tin's three-month price dipping 2.6% from an intraday high of $19,215...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 29 that are worth another look.The South African Transport and Allied Workers' Union was due to start a country-wide port strike at 17.30 local time on Wednesday May 29. Although the union claimed the action will bring South Africa's economy "to a standstill," manganese and chrome market sources said it was too early...Read More