The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week. The US has lowered its tariffs on steel imports from Turkey to 25% effective Friday May 17. Duties had been at...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 23 that are worth another look.South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only par...Read More
Brazilian steel demand decreased further in April, demonstrated by lower volumes of flat-rolled products sold in the market and despite a recovery in the long-rolled market, national steel association Instituto A??o Brasil said on Thursday May 23. Steel demand has now fallen for two consecutive months, following a drop of 1.6% in March. Steel apparent consumption was 1.67 million tonnes in April,...Read More
The weakening of Turkey's lira against the US dollar has pushed up the domestic prices for rebar and wire rod despite sluggish demand over the past week, sources said on Thursday May 23.Fastmarkets' weekly price assessment for domestic rebar in Turkey on Thursday was TRY3,330-3,420 ($547-561) per tonne ex-works, up from last week's TRY3,250-3,350 per tonne ex-works.The mills in the Izmir region we...Read More
The Turkish steel producers have broken their silence in the deep-sea scrap markets with prices increasing sharply, sources said on Thursday May 23.Four steel mills booked deep-sea cargoes from various sources late on Wednesday and on Thursday.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $310 per tonne and 5,000 tonnes of shredded at $315 per...Read More
Seaborne iron ore prices went through corrections on Thursday May 23 after jumping to more than $105 per tonne cfr China a day earlier, but Chinese steelmakers' demand for the material remained robust.MB 62% Fe Iron Ore Index: $103.79 per tonne cfr Qingdao, down by $1.99 per tonne.MB 62% Fe Pilbara Blend Fines Index: $101.98 per tonne cfr Qingdao, down by $1.99 per tonne.MB 62% Fe Iron Ore Index-L...Read More
CIS billet producers further increased their export offers on Thursday May 23, still buoyed by last week's halving of import taxes on Turkish steel by US president Donald Trump.The US import tax on Turkish steel products is now in line with products from most other countries at 25%, and the US move improved market sentiment generally and resulted in higher scrap prices.CIS...Read More
Prices for Turkey-origin steel billet have gone up in all markets over the past week since news was heard of the removal by the United States of its extra import duty on Turkish steel, sources said on Thursday May 23.The prices for steel scrap products have gone up significantly but the rises in billet prices have not yet aroused purchasing activity, with buyers either taking a wait-and-sea approa...Read More
Steel billet prices for imports into Egypt have increased this week on higher offers, while domestic rebar prices have remained unchanged, Fastmarkets heard on Thursday May 23.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $450-455 per tonne cfr on Thursday, rising from $445 per tonne cfr on May 16.The price increase, despite weak demand, came because of rising price...Read More
China's domestic stainless steel prices widened upward over the past week amid continued strong demand fromend users. The Fastmarkets MB domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,000-14,300 yuan ($2,027-2,070) per tonne including value-added tax for the week ended Wednesday May 22, widening up 200 yuan per tonne from a week earlier......Read More
China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marab??, a city in the Brazilian northern state of Par??, through its local subsidiary Concremat, the company said on Thursday May 23.Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in c...Read More
CIS billet producers further increased their export offers on Thursday May 23, still buoyed by last week's halving of import taxes on Turkish steel by US president Donald Trump.The US import tax on Turkish steel products is now in line with products from most other countries at 25%, and the US move improved market sentiment generally and resulted in higher scrap prices.CIS...Read More
The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week. The US has lowered its tariffs on steel imports from Turkey to 25% effective Friday May 17. Duties had been at...Read More
China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marab??, a city in the Brazilian northern state of Par??, through its local subsidiary Concremat, the company said on Thursday May 23.Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in c...Read More
CIS billet producers further increased their export offers on Thursday May 23, still buoyed by last week's halving of import taxes on Turkish steel by US president Donald Trump.The US import tax on Turkish steel products is now in line with products from most other countries at 25%, and the US move improved market sentiment generally and resulted in higher scrap prices.CIS...Read More
Prices for Turkey-origin steel billet have gone up in all markets over the past week since news was heard of the removal by the United States of its extra import duty on Turkish steel, sources said on Thursday May 23.The prices for steel scrap products have gone up significantly but the rises in billet prices have not yet aroused purchasing activity, with buyers either taking a wait-and-sea approa...Read More
Aluminium's three-month price on the London Metal Exchange was the only metal to trade in positive territory at the close of trading on Thursday April 23, climbing by just under 1% to near $1,800 per tonne. News that operations would fully resume at Norsk Hydro's Alunorte alumina refinery in Brazil sent the light metal's futures price spiraling to a three-year low of $1,765.50 per tonne, however i...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 23 that are worth another look.South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only par...Read More
South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The review, which could result in the divestment of the assets, reflects a wider predicament affecting alloy producers struggling with historically high ore prices and a subdued market for their own product. So...Read More
Bernardo Vel??zquez, chief executive officer of Spain-based stainless steel producer Acerinox, has been elected chairman of the International Stainless Steel Forum (ISSF) for a two-year period until 2021, Acerinox said on Thursday May 23.Vel??zquez replaces Hitoshi Ito, representative director and president of Nippon Steel & Sumikin Stainless Steel Corporation (NSSC), following an election at the...Read More