Turkish steel mills continued to remain out of the deep-sea scrap market at the end of the week due to the uncertain political situation in the country, sources said on Friday March 29.The Turkish lira was still very volatile against the US dollar because of the political instability and Turkish steel producers preferred to wait for the results of Sunday's mayoral elections before m...Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange.Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases this...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Chinese domestic lithium spot prices held in the week ended Thursday March 28 with most producers resisting consumer expectations for lower prices from the reduced value-added tax (VAT) and the latest Chinese new energy vehicles (NEVs) subsidies. Battery-grade lithium prices held steady in China this week despite consumer pressure for lower prices following Chinese policy changes, such as the VAT...Read More
Indian importers have rejected the latest offer prices for imports of hot-rolled coil (HRC), citing falling prices for the commodity in the domestic market, Fastmarkets heard on Friday March 29.Indian HRC import prices were assessed by Fastmarkets at $575-580 per tonne cfr Indian ports on March 29, compared with last week's assessment of $560-565 per tonne cfr, an increase of $15 per tonne.The lat...Read More
Prices for coated steel products in Turkey were stable in the seven days to Friday March 29, with demand weak in both the domestic and export markets.Sources told Fastmarkets that demand was weak in March because of market uncertainty ahead of the mayoral elections being held across the country on March 31.The export market was also poor because of weak demand in Europe and the fact that Turkish p...Read More
Most prices for steel coil products in Turkey were stable over the week ended Friday March 29, with buying activity remaining subdued.The market has been slow in March because of uncertainty in the build-up to Turkey's mayoral elections, to be held across the country on the last day of the month.It is unclear whether the market will improve next week, but everyone is waiting for the elections to b...Read More
The prices for US imports of steel beams has risen on confirmed sales of Mexican material while the price for domestic beams remained stable, Fastmarkets AMM has learned.Fastmarkets' assessment for imported beams is now $790-810 per short ton ($39.50-40.50 per hundredweight) delivered duty paid Port of Houston as of Thursday March 28, up 3.9 % from $740-800 per ton ($37-40 per cwt) previously. At...Read More
Ukraine's largest long steel producer, ArcelorMittal Kryvyi Rih, is currently holding cold tests of its two new continuous casting machines - also known as CCM No2 and CCM No3 - which have combined annual capacity of 2.8 million tonnes, the company told Fastmarkets on Friday March 29.The move is aimed at strengthening the steelmaker's position in the billet export market and enabling ArcelorMittal...Read More
Indian domestic secondary steel billet prices have fallen by about 100 rupees ($1) per tonne this week because there have been fewer inquiries and minimal buying by makers of finished products such as rebar mills, Fastmarkets heard on Friday March 29.Indian domestic secondary billet prices were assessed by Fastmarkets at 31,200-31,400 rupees ($450-453) per tonne ex-mill on Friday, down by 100 rupe...Read More
Global scrap prices mostly fell in the week from Monday March 25 to Friday March 29, with only prices for exports from the United States rising on steady demand from the key import market of Turkey. Turkish steel producers buy mid-week Turkish demand supports US ferrous scrap export prices Weaker downstream markets hold back Vietnam ferrous scrap prices Taiwanese prices fall on lower bids India pr...Read More
The export price for pig iron from Brazil has improved because of the long lead times for the material, Fastmarkets learnt during the week ended Friday March 29.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region of the country was $343 per tonne fob on March 29, up from $335-340 per tonne a week before.One deal for 50,000 tonnes of pig iron with 0.1...Read More
Chrome steel prices in the UK edged higher in the week ended Friday March 29 on an increase in the quarterly European ferro-chrome benchmark price, Fastmarkets has learnt.The price of steel scrap solids with a chromium content of 12-13% was assessed by Fastmarkets on March 29 at ?190-230 ( ?249-302) per tonne delivered, widening upward by ?10 per tonne. This was the first change in the assessmen...Read More
CIS billet prices started to decline in the last week of March, with the market under pressure from lower customers' bids, falling scrap prices in Turkey, and growing competition from Turkish billet suppliers because of the lira weakening against the US dollar.Indications of offers were coming within the range of $450-460 per tonne fob Black Sea, Fastmarkets heard on Friday March 29. A Ukraine-bas...Read More
Export prices for steel slab products of Brazilian origin remained unchanged in the week ended Friday March 29, on a flat steel market in the United States and weak demand in Europe.Fastmarkets' weekly assessment of Brazilian slab export prices was $510-550 per tonne fob on Friday, stable week-on-week.Bookings were reported from Brazil to the US market at prices of at least $540 per tonne fob, sou...Read More
Indian domestic secondary steel billet prices have fallen by about 100 rupees ($1) per tonne this week because there have been fewer inquiries and minimal buying by makers of finished products such as rebar mills, Fastmarkets heard on Friday March 29.Indian domestic secondary billet prices were assessed by Fastmarkets at 31,200-31,400 rupees ($450-453) per tonne ex-mill on Friday, down by 100 rupe...Read More
Stainless steel transaction prices in Europe increased in the week ended Friday March 29 while mills continued to incrementally apply higher alloy surcharges to their sales prices.This week, many mills announced alloy surcharges for a range of stainless steel products for April, at levels increased from those in March. This was the second consecutive such increase.The increases were largely a reac...Read More
Import prices for steel billet in Southeast Asia held steady on Friday March 29 amid limited trading, although prices on a week-on-week basis inched down due to deteriorating demand in the region.Fastmarkets' daily import price assessment for billet in Southeast Asia was $480-490 per tonne cfr Manila on Friday, unchanged from the previous day but down by $5 per tonne from a week earlier.Deals invo...Read More
Vale expects the various production restrictions that emerged in the last couple of months to affect its iron ore pellet output by 11 million tonnes per year, its chief financial officer Luciano Siani says.The Brazilian miner - the world's largest iron ore producer - has halted the pelletizing units at its F??brica and Vargem Grande iron ore facilities in the country's southeastern Minas Gerais st...Read More
Brazil's Vale has adopted the Fastmarkets MB 65% Fe Iron Ore Index as the reference for the pricing of contract cargoes of its blast furnace and direct-reduction pellets in 2019."The [Fastmarkets MB 65% Fe Iron Ore Index] is the new reference index and the premiums for blast furnace and direct-reduction pellets remained the same as [that in] 2018 - $60 per tonne on average," the miner said on Thur...Read More