May 2022

Five key stories from May 23

Here are five Fastmarkets stories you might have missed on Monday May 23 that are worth another look.

Removal of steel raw materials import duty is good but new export duties pose threat, India trade group says

The Indian Steel Association (ISA) has welcomed the “removal of the import duty on coking coal and other input raw materials” for the steel industry, the association said on Monday May 23.

Pessimism spreads along China’s stainless steel supply chain despite easing curbs

While the resurgence of Covid-19 in China affected its stainless steel supply chain in the past two months, sustained weakness for such products is clouding some of its upstream raw materials markets.

Indian manganese market developing beyond swing-producer status

India is now being viewed as an increasingly important destination for manganese ore because of expectations that its alloy production would ramp-up to meet rising internal demand, despite current weakness in the alloy market, Fastmarkets heard on Thursday May 19.

China’s stainless-steel prices still trending down amid weak demand

China’s stainless-steel prices continued dropping in both the domestic and export markets over the week ending Wednesday May 18, due to soft demand and a drop in the nickel price.

High carbon FeCr prices hold steady in Europe

High carbon ferro-chrome prices remained stable in Europe in the week ended Tuesday May 17, the first week the range has remained flat since January 25.

Yuan depreciation weakens support for higher-grade manganese ore

Buying sentiment for higher-grade manganese ore in China weakened in the week ended Friday May 13 in response to the depreciation of the yuan against the US dollar, which drove up import costs.

Europe stainless steel prices drop on weakening demand, competitive Asian imports

The price of cold-rolled flat stainless steel in Europe has decreased this week because of lower prices for imported Asian material and weakening domestic demand, sources told Fastmarkets on Friday May 13.

China’s stainless steel demand still weak despite relaxation of logistics restrictions

China’s domestic stainless steel prices edged down on Wednesday May 11, due to continuing weak demand, despite transporation restrictions being lifted in the transaction hub of Wuxi, sources told Fastmarkets.

Volatility eases in European FeCr markets; future remains clouded

The volatility in European prices for high-grade, high-carbon ferro-chrome has begun to decline, Fastmarkets heard on Wednesday May 11, with only modest rises in recent weeks.