Coated coil prices hit at least $1,000 per tonne ex-works in the Turkish domestic and export markets in the week to Friday December 18 while supply remained limited, sources told Fastmarkets.Some coated coil producers sold a limited quantity of product during the week before closing their orderbooks.The reason for the limited supply is low stock of hot-rolled coil, the base product for coated coil...Read More

Flat steel prices in the Turkish market continued to rise in the week to Friday December 18, although buyers were reluctant to book material because orders placed now will be delivered in April at the earliest. Domestic prices Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $760-760 per tonne on December 18, rising from $730-750 per tonne on December 1...Read More

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Sentiment in the Commonwealth of Independent States (CIS) export steel billet market remained upbeat due to tight availability of material and surging feedstock prices, sources told Fastmarkets on Friday December 18.Billet offers from two Russian suppliers scheduled for February shipment were heard in the range of $580-600 per tonne fob on Friday, unchanged from Thursday with the majority of CIS m...Read More

Indian steel mills increased their domestic hot rolled coil prices for December sales by 1,250-2,000 rupees ($17-27) per tonne in the week to Friday December 18, marking the third increase in as many weeks. According to an official from an Indian mill, the price increase was necessary to balance the increase in production costs mainly on account of rising domestic iron ore...Read More

Steel scrap prices have risen again across all major consumer markets over the past week, driven by solid demand and constrained supplies.Turkish import scrap prices hit an eight-year high after new bookings confirmed Recent US export scrap sales shrouded in secrecy Vietnamese scrap prices buoyed by strong Japan market Taiwanese import market hits historical high India prices jump on difficult mar...Read More

The price of pig iron exports from Brazil increased again during the week to Friday December 18, reflecting further sales to the United States at higher levels.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $480-500 per tonne on Friday, up from $445-450 per tonne a week earlier. Two sales to the United States were done at $480 per tonne fob for February and...Read More

The price of austenitic alloy steel scrap in Europe and the UK edged higher this week, reflecting further rises in the cost of nickel and Brexit fears, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK widened upwards to ?980-1,050 ($1,330-1,425) per tonne on Friday December 18, up by ?10 per tonne at the high en...Read More

Base metals prices on the London Metal Exchange were higher across the board on the morning of Friday December 18, with copper trading above $8,000 per tonne earlier for the first time since 2013.Infrastructure spending pledges, hopes for more stimulus, falling or low stocks and low Capex levels across the industry for several years all make for a bullish long-term backdrop for the metals.Base met...Read More

The British light iron market was up ?5 ($6.80) per tonne over the week to Friday December 18 on stronger export markets into deep-sea destinations, such as Turkey, and tight domestic availability due to a fall in scrap generation from lockdown measures to contain Covid-19, trade sources told Fastmarkets.In the British market, where scrap generation has fallen by an estimated 40% this year while...Read More

Deals for Brazil-origin pig iron boosted the US import pig iron price by 6.8% in the week to Friday December 18. Fastmarkets' price for pig iron, import, cfr Gulf of Mexico, US to $495-520 per tonne on Friday, up from $470-480 per tonne a week earlier. Two deals on pig iron with February and March shipment were done at about $495-500 per tonne early this week. Another Brazil-origin...Read More

The price of shredded steel scrap imported jumped by almost $30 per tonne on Friday December 18 due to continued tightness in container availability and a strong international market, sources told Fastmarkets. India Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $428.83 per tonne on Friday, up from $401.81 per tonne one week earlier. Only one deal w...Read More

Turkish deep-sea scrap import prices continued to increase on Friday December 18, with two fresh shipments coming to light from the previous day, sources told Fastmarkets.Late on Thursday December 17, a steel producer in the northern Turkey booked a Baltic Sea cargo, comprising 13,500 tonnes of HMS 1&2 (80:20) at $450 per tonne, 14,000 tonnes of shredded at $460 per tonne, 3,000 tonnes of bonus al...Read More

Global mining and metals company Rio Tinto and Japanese steelmaker Nippon Steel Corp have signed a Memorandum of Understanding (MoU) to jointly explore and develop technologies to transition to a low-carbon emission steel value chain, the companies said in a press release on Tuesday December 15. Both companies have the shared goal of significantly reducing carbon emissions across the entire steel...Read More

Cadence Design Systems (CDNS), a NASDAQ 100 stock moved above $127.50 to an all-time high extending an intermediate uptrend.Magna International (MG), a TSX 60 stock moved above $82.71 to an all-time high extending an intermediate uptrend.  Pre-opening Comments for Friday December 18thU.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade....Read More

Lead stocks in Shanghai Futures Exchange-registered warehouses rose by the most in percentage terms, while zinc was the biggest faller in the week to Friday December 18. All other base metals, bar tin, registered lower deliverable stocks on a weekly comparison. Lead inventories totaled 52,173 tonnes as of Friday, up by 7,634 tonnes (17.1%) from 44,539 tonnes a week prior. The Zhongchu Lutong wareh...Read More

Seaborne iron ore prices surged on Friday December 18, largely supported by market fundamentals, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.39 per tonne, up $5.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $164.90 per tonne, up $6.01 per tonne58% Fe fines high-grade premium, cfr Qingdao: $152.45 per tonne, up $5.35 per tonne65% Fe Braz...Read More

Seaborne hard coking coal and low-vol pulverized coal injection (PCI) prices jumped on Friday December 18 with transactions heard sealed at higher prices, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.24 per tonne, up $0.78 per tonnePremium hard coking coal, cfr Jingtang: $188.42 per tonne, unchangedHard coking coal, fob DBCT: $91.72 per tonne, down $1.84 per tonneHard c...Read More

The London Metal Exchange three-month copper price stood at $7,986 per tonne at 9am on Friday December 18, having surpassed $8,000 per tonne in early morning trading, while the complex on a whole continues to benefit from a low US dollar index and hopes for a US economic recovery stimulus deal. Copper peaked at $8,028 per tonne during early trading, setting a new year-to-date and near eight-year h...Read More

China's domestic rebar prices rose sharply on Friday December 18 in tandem with big gains in the steel futures market, ending the week with a total increase of 130 yuan per tonne in the country's eastern region.DomesticEastern China (Shanghai): 4,330-4,360 yuan ($662-667) per tonne, up by 120 yuan per tonneNorthern China (Beijing) weekly assessment: 3,930-3,960 yuan per tonne, up by 90 yuan per to...Read More