Steel Prices are set to Rise globally: Buy all the Steel counters in Bulk
(i) Spanish import scrap prices increase as merchants raise offers:
February 29, 2012, London: Prices for ferrous scrap imports into Spain rose over the past week as merchants hiked offer prices, following one buyer’s attempt to bid up the market at the end of last week, market participants told Metal Bulletin.
The mill in question was after immediate new arisings tonnages, of which there is a shortage in northern Spain, sources explained. “The price came up [so high] because of the activity of the mill [last week],” a broker told Metal Bulletin on February 29. “The other mills are not reacting on the same levels,” he said.
February 29, 2012, London: Prices for ferrous scrap imports into Spain rose over the past week as merchants hiked offer prices, following one buyer’s attempt to bid up the market at the end of last week, market participants told Metal Bulletin.
The mill in question was after immediate new arisings tonnages, of which there is a shortage in northern Spain, sources explained. “The price came up [so high] because of the activity of the mill [last week],” a broker told Metal Bulletin on February 29. “The other mills are not reacting on the same levels,” he said.
(ii) LME steel billet prices pick up, more trades reported:
February 29, 2012, London: London Metal Exchange steel billet prices saw a slight increase on Wednesday February 29, thanks to a slight pick-up in trading activity.
Three-month official prices rose to $535/540 per tonne on Wednesday, from $520/540 on Tuesday. Wednesday’s official cash bid/offer spread was $516/520, up from Tuesday’s $490/510. A total of nine lots were sold on the three-month contract for $540.
February 29, 2012, London: London Metal Exchange steel billet prices saw a slight increase on Wednesday February 29, thanks to a slight pick-up in trading activity.
Three-month official prices rose to $535/540 per tonne on Wednesday, from $520/540 on Tuesday. Wednesday’s official cash bid/offer spread was $516/520, up from Tuesday’s $490/510. A total of nine lots were sold on the three-month contract for $540.
(iii) CHINA STEEL WRAP: Spot longs move up on Shagang hint:
February 29, 2012, Shanghai: China’s spot prices for long products rose on Wednesday February 29 ahead of an expected price hike by Shagang Group on Thursday.
Shagang is expected to be adding 80 yuan ($13) per tonne to its rebar prices for the first ten days of March, which will support spot prices in the south of the country, according to market sources. “Many medium- and small-sized steel mills will follow Shagang and hike prices this week, and spot prices will follow,”...
February 29, 2012, Shanghai: China’s spot prices for long products rose on Wednesday February 29 ahead of an expected price hike by Shagang Group on Thursday.
Shagang is expected to be adding 80 yuan ($13) per tonne to its rebar prices for the first ten days of March, which will support spot prices in the south of the country, according to market sources. “Many medium- and small-sized steel mills will follow Shagang and hike prices this week, and spot prices will follow,”...
(iv) Spot 63.5% Fe iron ore price widens to $147-149 cfr:
February 29, 2012: China’s iron ore import prices edged higher as firmer steel prices drove restocking.
Mainstream prices of 63.5% Fe content Indian fines stood at $147-149 per tonne cfr China, $1 higher on the top end from Tuesday.
February 29, 2012: China’s iron ore import prices edged higher as firmer steel prices drove restocking.
Mainstream prices of 63.5% Fe content Indian fines stood at $147-149 per tonne cfr China, $1 higher on the top end from Tuesday.
Courtesy:http://www.metalbulletinresearch.com
