Sources told Fast Market on Tuesday (October 5th) that the price of steel rebar and ingots has dropped in the UAE and demand remains low. Chinese holidays seem to be putting pressure on all international markets, especially the rebar market. In the following, we will evaluate the UAE rebar market. Please be with Artan Press. […]
Spot prices for imported hot-rolled coil in Vietnam were stable this week amid limited spot price negotiations for Indian HRC.
Tepid demand for hot-rolled coil imports (HRC) persisted in the key Vietnamese market in the week to Friday September 17, with multiple factors causing prices to fall week on week.
Last month, Iran's steel export market in Iraq was ceded to Turkey without any effort. The reason for this was the inadequacy and inability to comply with Iran's export obligations. The problem of steel power cuts created this situation. Even now, due to political problems and the rising risk of trading in the Afghan market, it is about to be lost. Of course, the issue of Iraq and Afghanistan is different. But in any case, whatever the problem, it is the Iranian steel export market that is getting weaker day by day.
Firmer Chinese steel markets have been supporting sentiment in the Chinese scrap market, keeping buyers optimistic about September and October, sources told Fastmarkets on Tuesday August 31.
Iron ore prices on Friday, August 20, slightly retreated from the previous day's losses. But prices in the iron ore market are declining. However, demand from Chinese factories showed no sign of rising prices, and market participants were cautious. It seems that the cross-sectional growth of prices will not be sustainable.
Market movements in the marine iron ore pellet sector have caused the price of concentrate to fall further in the low trading on Friday. Following the weak demand and the downward trend in the futures market, the prices of iron ore and concentrate pellets in the week ending Friday, August 20 have had a significant significant decrease.
Overall, the East Asian hot and cold sheet market was accompanied by a drop in prices. On the other hand, due to the highly competitive offers of Hoa Phat Steel, buyers continue to choose domestic options instead of importing HRC from Russia. Sheet prices are a bit more favorable in domestic markets. Due to more flexible payment terms, there are attractive conditions for purchasing domestic shipments.
Iron ore trading has revived in East Asian markets with relative success. The 62% Fine Iron Ore Index traded in CFR format from Qingdao Port at $ 163.52 per tonne, up $ 1.45 from the previous day.
Due to the withdrawal of large industrialized countries from the Corona crisis, we are witnessing the growtoh f maritime shipments of mineral shipments in large companies. Rio Tento exports, for example, rose 9.13 percent to 6.18 million tons a week. These shipments were made from Dampir port and Cape Lambert. Average weekly shipments were estimated at 5.67 million tonnes in the past four weeks