April 2019

EUROPE STAINLESS STEEL: Bright bar prices edge upward despite pessimism for demand

Base prices in Europe for stainless steel grade-304 bright bar edged higher this week because of steel mills’ ambitions to strengthen their margins, traders told Fastmarkets on Thursday April 18.

Swedish steel distributor Tibnor completes $68m purchase of Danish distributor Sanistål

Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanistål, Denmark’s second largest steel distributor, it said on Thursday April 17.

Excess supply weighs on stainless HRC prices in East Asia

Import prices for stainless cold-rolled coil in East Asia were mostly steady over the past week due to soft demand and a stable nickel market, while those for stainless hot-rolled coil fell due to excess spot supply.

Weak demand, increased supply weigh on China’s stainless steel prices

China’s stainless steel prices dropped over the past week on sustained weakness in demand and rising inventory levels in the spot market.

GLOBAL FERRO-SILICON WRAP: Low-priced Asian imports sink Chinese export offers

Ferro-silicon prices in the Chinese domestic market held steady last week despite elevated April tender prices from steel mills, while export offers in the country sank due to an influx of imported material into Asian markets.

GLOBAL CHROME WRAP: Weakening demand weighs on ores, alloys in Asia, Europe

The UG2 chrome ore price fell again on Friday April 12 after activity lessened due to market participants waiting for Chinese mills' next ferro-chrome tender releases; meanwhile falling demand pushed down the high-carbon ferro-chrome assessment in Europe.

Hebei Steel’s April ferro-silicon tender price up slightly m-o-m but still below market expectations

China’s largest steel mill, Hebei Steel, has concluded its ferro-silicon tenders for March and April at levels below those released at the start of the year and close to alloy production costs.

Brazil’s Gerdau to lay off workers at Pindamonhangaba plant

Gerdau will lay off 100 workers at its special steel unit in Pindamonhangaba city, in Brazil's southeastern São Paulo state, due to the weak performance of the Brazilian automotive industry, according to the company.

EUROPE STAINLESS STEEL: Prices stable as buyers resist mills' attempted increases

Transaction prices for grade-304 stainless steel cold-rolled (CR) sheet in Europe remained static in the week ended Friday April 12 despite some mills continuing to offer material at inflated levels.

GLOBAL CHROME WRAP: UG2 chrome ore prices weaken in China on sufficient stock; US market falls on aggressive bids [CORRECTION]

UG2 chrome ore prices broke a seven-week upward trend on Friday April 5 due to weaker demand after consumers cited sufficient stock, while alloy prices in the United States weakened and were subdued in Europe.