Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day on Friday January 8 due to a seasonal demand slowdown, sources told Fastmarkets.Transaction prices are expected to increase in the first quarter, according to market participants.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?667.50 ($820.19) per tonne on Fri...Read More

ArcelorMittal has increased its official spot offer prices for coil products across Europe by ?,?30-50 ($37-61) per tonne effective immediately, sources told Fastmarkets on Friday January 8.New offers for hot-rolled coil have increased to ?,?730 per tonne ex-works, up by ?,?30 per tonne. New offers for hot-dipped galvanized coil moved up by ?,?50 per tonne to ?,?850 per tonne ex-works. Official of...Read More

The export market for steel billet from the Commonwealth of Independent States (CIS) was quiet during the first week of January due to the Christmas and New Year holidays, but sentiment remained largely optimistic, sources told Fastmarkets on Friday January 8.Offers from Russian and Ukrainian suppliers ranged between $620 and $625 per tonne fob before the holiday break.But higher offers for March-...Read More

Flat steel prices in the Turkish domestic and export market were unchanged in the first full week of 2021 after the festive holidays, while local producers were offering material with long lead times which buyers were hesitant to accept, sources told Fastmarkets. Domestic prices Market activity was slow during the week to Friday January 8 because it was the first week of 2021 and some countries we...Read More

Trident aims to fill valuable nicheSPONSOREDtrident royaltiesWhile 2020 output was expected to come in near the top of Copper Mountain's guidance range due to higher mined ore grades, full-year production totalled 77.6 million pounds of copper versus the planned 70-75Mlb, with Q4 output at 23.1Mlb the 137-year-old operation's best ever quarter.Gold and silver production were also strong during the...Read More

Trident aims to fill valuable nicheSPONSOREDtrident royaltiesThe company said mineralisation and favourable alteration appeared to be increasing with depth. Both holes ended in the favourable lithological host rocks for skarn-style alteration and mineralisation, indicating potential for more mineralisation at depth.Highlights included 59.05m grading 0.47% copper, 0.38 grams per tonne of gold and 3...Read More

Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks’ time.* Asian-Pacific equities generally upbeat, along with pre-market western equity index futures* US 10-year treasury yield...Read More

Turkish steel mills continued to refresh their scrap stocks in the week to Friday January 8, with fresh deep-sea cargoes booked at higher prices, while concerns increased over tight supply in Asia, with China entering the market.Turkish mills book more cargoes for February-March at escalating pricesUS East Coast exporters enjoy demand from Turkish producers; West Coast lacks fresh dealsVietnamese...Read More

The price of austenitic stainless scrap in the UK and Europe increased in the week to Friday January 8 on rising nickel costs and tight supply, sources told Fastmarkets. Fastmarkets' weekly price assessment of stainless steel scrap 18/8 solids, domestic, delivered merchants UK increased to ?1,020-1,100 ($1,385-1,494) per tonne on Friday, up by ?40-50 per tonne from ?980-1,050 per tonne on Decem...Read More

Monthly European alloy steel surcharges have increased substantially for January on the back of further gains in the nickel market, sources told Fastmarkets on Friday January 8. Fastmarkets' stainless steel cold-rolled sheet 2mm grade 304 alloy surcharge domestic, Europe was calculated for January at ?,?1,578-1,604 ($1,939-1,971), up by ?,?71-88 per tonne from the December level of ?,?1,507-1...Read More

The British light iron market this week hit a high last seen in April 2013 due to strong export demand in Turkey for European exports, prompting a surge in UK demand for tightening domestic supplies, trade sources told Fastmarkets. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?130-145 ($177-197) per tonne on Friday Janua...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.Index futures were virtually unchanged following release of the December Employment Report at 8:30 AM EST. Consensus for December Non-farm Payrolls was s gain of 71,000 from an upwardly revised gain of 336,000 in November. Actual was a drop of 140,000. Consensus for the December Unemploym...Read More

The prices of steel scrap imported into India and Pakistan moved up in the week to Friday January 8 despite a dull and uncertain market, sources have told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $479.33 per tonne on Friday, up from $458.02 per tonne on December 31.Offers this week were in the range of $480-485 per tonne, up from...Read More

Turkish steelmakers continued to book deep-sea scrap cargoes at the end of this week to refresh their stock levels for February and March, sources said on Friday January 8.A steel mill in the Izmir region booked a European cargo, comprising HMS 1&2 (75:25) at $471.50 per tonne and bonus at $486.50 per tonne cfr.And a steel mill in the Marmara region booked a US cargo at $481 per tonne cfr on an HM...Read More

Seaborne iron ore prices pushed up on Friday January 8 on active trading, with demand for high-grade iron ore fines well supported at the Chinese ports, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.06 per tonne, up $1.37 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.33 per tonne, up $1.08 per tonne58% Fe fines high-grade premium, cfr Qingd...Read More

Seaborne coking coal prices in both fob and cfr markets were relatively steady on Friday January 8 due to a lack of spot trades, while producer sources said the recent resurgence of Covid-19 infections in Hebei province is yet to affect the production of coke. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.93 per tonne, down $0.06 per tonne Premium hard coking coal, cfr Jingtang: $20...Read More

China's domestic hot-rolled coil prices gained more upward momentum on Friday January 8 despite thin trading.DomesticEastern China (Shanghai): 4,680-4,730 yuan ($724-732) per tonne, up 60-70 yuan per tonneNorthern China (Tangshan) - weekly assessment: 4,400-4,450 yuan per tonne, down 30 yuan per tonneSources in Shanghai said sellers in the city kept asking for higher prices despite the market bein...Read More

China's domestic rebar prices moved up on Friday January 8 due to supply concerns arising from longer transportation time caused by a cold wave and a growing outbreak of Covid-19 in Hebei province. DomesticEastern China (Shanghai): 4,490-4,520 yuan ($694-699) per tonne, up by 30 yuan per tonneNorthern China (Beijing) weekly assessment: 4,080-4,120 yuan per tonne, up by 120-130 yuan per tonneVessel...Read More

Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks' time. Asian-Pacific equities generally upbeat, along with pre-market western equity index futures US 10-year treasury yields conti...Read More

An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford and...Read More