January 2020

UK SCRAP: Light iron market drops on weaker exports

The inter-merchant spot market for light iron scrap in the UK dropped in the week ended Friday January 31, with British domestic prices dragged down by persistent weakness in the European export market to key buyers in Turkey and the Indian subcontinent, sources have told Fastmarkets.

Steel import prices up in South America as buyers look beyond China

South American flat steel import prices either rose or held firm during the week ended Friday January 31, while the absence of China from the market drove customers to look for materials from other origins.

EUROPE ALLOY STEEL SCRAP: Prices decrease on lower nickel costs

The price of austenitic alloy steel scrap in the UK domestic market decreased this week because of lower nickel costs, sources told Fastmarkets on Friday January 31.

GLOBAL CHROME SNAPSHOT: European ferro-chrome prices edge up further

Key data from the pricing sessions in Europe, the United States and Asia for the week ending Friday January 31.

INDIA IMPORT SCRAP: Trading activity pauses after Turkey price drop

The price of ferrous scrap imported into India dropped again in the week ended Friday January 31, while trading activity paused following a mid-week drop in international scrap prices, sources have told Fastmarkets.

EUROPE STAINLESS STEEL: Prices stable despite higher surcharges; decreases by March - sources

The price of stainless steel in the European domestic market was unchanged this week, despite monthly allow surcharges increasing slightly for February, sources told Fastmarkets on Friday January 31.

EUROPE HRC: Domestic prices rise in the north

Domestic prices for hot-rolled coil in Northern Europe have increased day on day due to mills' good order books and a lack of competitive imports, sources told Fastmarkets on Friday January 31.

Indian mills to raise domestic HRC price by $14 per tonne in February

Indian steel producers were likely to increase their prices for hot-rolled coil by at least 1,000 rupees ($14) per tonne for February sales to take account of rises in the costs of raw materials such as iron ore, Fastmarkets has heard.

What are the likely short-term effects of the Wuhan virus on steel, iron ore markets?

Just as China and the United States started to reach a deal and trade tensions eased, providing some longed-for certainty, the novel coronavirus (2019-nCov) has again increased fear and uncertainty in the steel and feedstock markets.

DAILY SCRAP REPORT: Mills seek lower prices; sentiment remains poor

Turkish deep-sea scrap import markets were quiet at the end of the week, with mills seeking lower prices, sources told Fastmarkets on Friday January 31.