London Metal Exchange metals prices were all lower on Friday February 26, following a spike in US 10-year Treasury bonds and a higher US Dollar Index.Tin and copper futures prices fell from their recent highs amid profit-taking, while nickel dropped below $19,000 per tonne.Yields on the 10-year US Treasury bonds jumped to 1.6% on Thursday before drifting down to 1.43% on Friday morning, but the ri...Read More
Deliverable base metals stocks at Shanghai Futures Exchange-registered warehouses all rose in the week to Friday February 26, with copper recording the largest gain in percentage terms at 31.2%, according to the exchange's latest stocks report.Copper stocks totaled 147,958 tonnes on Friday, an increase of 35,170 tonnes from 112,788 tonnes a week earlier.The inflows mainly occurred at warehouses op...Read More
Prices for cold-rolled coil and galvanized steel sheet in the United States have again jumped to all-time highs after producers told customers that they may not be able to sell any spot tons in the first half of the year. Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US climbed to $70 per hundredweight ($1,400 per short ton) on Thursday February 25 from $69 per cwt ($1,...Read More
Hot-rolled coil prices in the United States remained above $61 per hundredweight, with market participants scrambling to find spot material, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.72 per hundredweight ($1,234.40 per short ton) on Friday February 26, down by 0.21% from $61.85 per cwt on February 25 but up by 1.83% from $60....Read More
Brazilian flat and long steel producer Gerdau was carrying out a maintenance stoppage late this month at its integrated steel unit in Ouro Branco city, in the country's southeastern Minas Gerais state.The maintenance work will involve Gerdau's blast furnaces, steel mill and rolling facilities, and was expected to last for three weeks, the company told Fastmarkets on Friday February 26."Supply [of...Read More
The price range for Indian hot-rolled coil exports narrowed slightly in the week ended Friday February 26 with HRC prices in Asian markets moving upward.Prices for Indian HRC exports to Europe remained stable even while Indian mills continued to restrain their export tonnages of such material to stay within European quota limits.The price of steel HRC (commodity), export, fob main port...Read More
Domestic prices for steel hot-rolled coil in Northern Europe increased day on day on Friday February 26, with European steelmakers increasing their offers for coil products amid good demand and short supply, sources said.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, ex-works Northern Europe at ?,?738 ($899.86) per tonne on Friday, up by ?,?3 from ?,?735 per tonne the prev...Read More
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Pig iron export prices from the south of Brazil increased again in the week to Friday February 26 on reports of new deals being done, with at least one shipment destined for the US.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-515 per tonne on Friday, up from $480-500 per tonne a week before.One sale of pig iron from the south of Brazil was heard to t...Read More
The pig iron import market in the United States continued to strengthen during the week to Friday February 26 on further restocking and increased freight rates, market sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $550 per tonne on Friday, an increase of $30-40 from $510-520 per tonne a week ago.One large pig iron buyer continued to restock, buying a c...Read More
Steel scrap prices have increased across all major markets over the week to Friday February 26, driven by strengthening steel markets and a jump in bulk freight rates.Turkish mills continue to book cargoes at higher pricesUS export prices rise in sales to South Korea, TurkeyVietnamese buyers juggle tight billet-scrap spreadsTaiwan import market boosted by strong freight ratesIndia market mirrors i...Read More
The price of austenitic steel scrap in the UK and Europe moved up in the week ended Friday February 26, but a drop in the price of nickel on Friday meant that a downward correction next week was likely, sources have told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,200-1,210 ($1,694-1,708) per tonne on Friday, an...Read More
Prices for shredded steel scrap imported into India and Pakistan are following the trend of the international market and moving up over the week to February 26, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India at $459.75 per tonne this week, up from $430.86 per tonne one week earlier.There were no deals heard in the market t...Read More
The recent bounce in the United Kingdom's light iron steel scrap market extended into this week due to tight domestic supplies amid renewed export demand, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?145-160 ($205-226) per tonne on Friday February 26, up from ?140-150 per tonne on February 19. The...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets edged down on Friday February 26 with most market participants, especially trading houses, taking a wait-and-see attitude.Fastmarkets indicesPremium hard coking coal, fob DBCT: $125.73 per tonne, down $1.27 per tonnePremium hard coking coal, cfr Jingtang: $218.55 per tonne, down $0.49 per tonneHard coking coal, fob DBCT: $119...Read More
Iron ore prices increased on Friday February 26, with low-grade iron ore fines rising fast due to lower coke prices, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $175.78 per tonne, up $1.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $176.27 per tonne, up $1.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $161.74 per tonne, up $1.68 per tonne65% Fe Brazil-orig...Read More
An overview of the aerospace materials markets and their latest price moves.Ewa Manthey and Michael Greenfield in...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More