Market participants believe that domestic prices for hot-rolled coil (HRC) in Northern Europe have 'reached bottom,' sources told Fastmarkets on Wednesday October 31.Prices in southern and central Europe remained under pressure because of slow trading, they added.Northern EuropeFastmarkets' weekly price assessment for domestic HRC in Northern Europe was stable over the week at ?,?550-565 ($625-642...Read More
China's hot-rolled coil prices tumbled on Wednesday October 31 amid persistently weak demand, with buyers remaining on the sidelines on expectations of the market softening further.DomesticEastern China (Shanghai): 4,080-4,100 yuan ($586-588) per tonne, down 50-60 yuan per tonneNorthern China (Tianjin): 4,050-4,060 yuan per tonne, down 30 yuan per tonnePrices tumbled during the day following losse...Read More
Ferrous futures mostly ended morning trading on a slight uptick on Wednesday October 31 following a steep decline during Tuesday night's session.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,146 yuan ($595) per tonne, up 11 yuan per tonneJanuary hot rolled coil: 3,793 yuan per tonne, down 2 yuan per tonneDalian Commodity Exchange January iron ore: 533 yuan per...Read More
Prices for hollow steel sections in Northern Europe have fallen this week following a decline in feedstock prices, Fastmarkets heard on Wednesday October 31.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne to ?,?650-660 ($739-750) per tonne delivered on October 31, from ?,?660-670 per tonne delivered on Oct...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday October 31, with few buyers seriously enquiring for deliveries. Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($608-636) per tonne delivered on Wednesday. Both assessments were unchanged over the pre...Read More
The price for rebar produced and delivered in Southern Europe fell slightly on Wednesday October 31, with some suppliers accepting lower bids to make sales but most only offering higher prices.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?510-535 ($579-608) per tonne delivered on Wednesday, from ?,?520-545 per tonne last week.Producers have been raising thei...Read More
Turkish deep-sea scrap import prices remained largely stable after a new transaction was heard on Wednesday October 31.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 23,000-25,000 tonnes of HMS 1&2 (80:20) at $335 per tonne and 4,000-5,000 tonnes of bonus at $345 per tonne cfr, late on October 30.Some sources believed that the cargo also contained...Read More
Prices for iron ore fines weakened on Wednesday October 31 in a cautious market, while lump premiums traded higher.MB 62% Fe Iron Ore Index: $75.71 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Pilbara Blend Fines Index: $74.74 per tonne cfr Qingdao, down $1 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $80.13 per tonne cfr Qingdao, down $0.04 per tonne. MB 58% Fe Premium Index: $67.42 pe...Read More
Ferrous futures mostly ended morning trading on a slight uptick on Wednesday October 31 following a steep decline during Tuesday night's session.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 4,146 yuan ($595) per tonne, up 11 yuan per tonneJanuary hot rolled coil: 3,793 yuan per tonne, down 2 yuan per tonneDalian Commodity Exchange January iron ore: 533 yuan per...Read More
Vietnam's Formosa Ha Tinh Steel Corp will add a considerable amount to Asia's billet supply with the full operational capacity of a new 1-million-tpy semi-continuous caster.The new billet mill has a capacity of 1 million tonnes per year of various steel grades as part of its first phase. It will have a capacity of up to 2 million tpy after a second expansion, equipment maker SMS group said on Octo...Read More
Rebar prices continued to rise in north China on Wednesday October 31, while those in the eastern region held steady amid ongoing transportation restrictions ahead of a major event in Shanghai. Domestic Eastern China (Shanghai): 4,670-4,700 yuan ($670-675) per tonne, unchangedNorthern China (Beijing): 4,480-4,520 yuan per tonne, up 30-40 yuan per tonneTrading activity was high in the northern regi...Read More
Prices for hollow steel sections in Northern Europe have fallen this week following a decline in feedstock prices, Fastmarkets heard on Wednesday October 31.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne to ?,?650-660 ($739-750) per tonne delivered on October 31, from ?,?660-670 per tonne delivered on Oct...Read More
Nickel premiums in China rose on Tuesday October 30, on an opening import arbitrage. The physical nickel markets in Europe and the United States were relatively quiet. Premiums rose in China with an open import arbitrage making business more profitable. The nickel markets in Europe were mostly flat despite a weak London Metal Exchange nickel price. US nickel premiums were unchanged, although consu...Read More
Turkish deep-sea scrap import prices remained largely stable after a new transaction was heard on Wednesday October 31.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 23,000-25,000 tonnes of HMS 1&2 (80:20) at $335 per tonne and 4,000-5,000 tonnes of bonus at $345 per tonne cfr, late on October 30.Some sources believed that the cargo also contained...Read More
Base metals prices on the London Metal Exchange ended mostly lower Wednesday October 31, pressured by a fresh 2018 high in the US dollar index.The three-month nickel price was hardest hit, falling 2.5% over the afternoon to an intraday low of $11,500 per tonne. Both three-month copper and zinc fell below nearby support levels - copper fell below $6,000 per tonne for the first time since September...Read More
Prices for hollow steel sections in Northern Europe have fallen this week following a decline in feedstock prices, Fastmarkets heard on Wednesday October 31.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne to ?,?650-660 ($739-750) per tonne delivered on October 31, from ?,?660-670 per tonne delivered on Oct...Read More
The latest news and price moves to start the Asian day on Thursday November 1.Base metal prices on the London Metal Exchange ended mostly lower on Wednesday October 31, pressured by a fresh 2018 high in the United States' dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:Ternium chief executive officer M??ximo Vedoya expects steel slab...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 31.Base metals on the London Metal Exchange consolidated lower during morning trading on Wednesday October 31, with downward pressure emerging from broad corrections in key indices such as the S&P 500 and Dow Jones Industrial Average, while dollar strength continues to hamper investment.Here...Read More
Good morning from Fastmarkets' offices in Asia, bringing the latest news and pricing stories on Wednesday October 31.Base metals prices on the Shanghai Futures Exchange were mainly lower during Asian morning trading, with risk-off sentiment, combined with the possible escalation of US-China trade tension and a...Read More
Base metals prices on the London Metal Exchange ended mostly lower Wednesday October 31, pressured by a fresh 2018 high in the US dollar index.The three-month nickel price was hardest hit, falling 2.5% over the afternoon to an intraday low of $11,500 per tonne. Both three-month copper and zinc fell below nearby support levels - copper fell below $6,000 per tonne for the first time since September...Read More