Brazilian imports of flat and long steel dropped in September, with lower import volumes from China partially compensated for by higher volumes from Russia.Imports of flat-steel products fell 9.9% year on year in September, to 79,715 tonnes from 88,498 tonnes the year before, according to figures released last week by the Brazilian economy ministry.Shipments, however, increased 20% from...Read More
Brazilian steel scrap exports soared in September both year on year and compared with the previous month due to an unusually significant volume shipped to China by a shipyard under bankruptcy protection, according to national ferrous scrap association Inesfa.Exports totaled 97,312 tonnes in September, up by 19.7% from 81,295 tonnes in the same month last year and by 75.7% from 55,377 tonnes in Aug...Read More
Turkish steel producers have continued their deep-sea scrap imports at firm prices thanks to improving demand for long steel products in the country's export markets, sources said on Wednesday October 14.A steel mill in the Iskenderun region booked a US cargo, comprising 6,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 17,000 tonnes of bonus at $297...Read More
Both the seaborne and futures prices for iron ore fell further on Wednesday October 14, with market sources putting the blame on weak sentiment resulting from high iron ore port inventories and low margins at steel mills in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, down by $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.98 per tonne, down by $1.32 p...Read More
Seaborne hard coking coal and pulverized coal injection (PCI) prices declined on Wednesday October 14, following the recent slump in premium hard coking coal prices after China issued a verbal notice banning coal imports from Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, down $0.83 per tonne Premium hard coking coal, cfr Jingtang: $134.98 per tonne,...Read More
Iranian export prices for steel billet increased slightly in the week to Wednesday October 14, with traders accepting higher prices in the latest round of bookings.Last week, most Iranian producers finally returned to the market, placing fresh tenders for cargoes to be shipped in October and December. Mills were waiting for China to return from a week-long national holiday to see the market trend....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 14. Key drivers The ferro-titanium spot price range narrowed, reflecting producers' attempts to pass on the cost of tightening scrap supplies since the start of September.Most ferro-titanium producers are struggling to source enough scrap to meet their smelting schedules for longer term delivery deals, with little alloy ava...Read More
The price of hollow steel sections in Europe moved up again this week with mills continuing to push for increases, market sources told Fastmarkets on Wednesday October 14.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($706-742) per tonne on Wednesday, up from ?,?590-620 per tonne one week before.The price of hot-rolled coil, the feed...Read More
South Korea's Hyundai Motor Group is shaking up the automotive supply chain with a new integrated facility in Singapore.The facility - dubbed the Hyundai Motor Group Innovation Center (HMGIC) - will feature mobility research and development, as well as a manufacturing plant for electric vehicles (EVs). It is located in Jurong Innovation District, located in the Southeast Asian island nation's west...Read More
Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals, oil, power & renewables and shipping. Andrea Hotter talks strategy with the man at the helm, CEO Jeremy WeirJeremy Weir's career at Trafigura almost stumbled before it began. The Melbourne, Australia-born geologist-turned-derivatives-trader was heading to meet one of the commodities trading house's founding partners,...Read More
China will release new standards for steel scrap imports by the end of 2020, the National Standard Formation Committee said at a recycled raw materials conference in Shanghai.The new standards will support the rising demand for ferrous scrap in China and will introduce the nationwide classification and regulation of high-quality scrap, according to the China Metallurgical Information & Standardiza...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Hot-rolled coil prices in the United States held mostly steady day on day, with some sources indicating that prices are on an uptrend while others were split on mill availability and lead times.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $32.48 per hundredweight ($649.60 per short ton) on Wednesday October 14, nearly flat from $32.50 per cwt on Tuesday October 13...Read More
Tantalum oversupply will continue until at least the end of this year, John Crawley, managing director of Refractory Metals Mining, said during the Tantalum-Niobium International Study Center's virtual conference this week."The fourth quarter of the year might be hurt by [an abundance of] inventory accumulated during the third quarter of the year," Crawley said during a panel discussion on Monday...Read More
Sellers in the United States hoped that the premium for nickel briquettes would rise further from a floor, while European nickel premiums held firm at new lower levels and Asia was quiet after holidays in the week to Tuesday October 13. US focus switches to next year's contracts China sees minimal trading after week-long national holidays Europe market steady amid volatile LME price. Minimal spot...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More
Both the seaborne and futures prices for iron ore fell further on Wednesday October 14, with market sources putting the blame on weak sentiment resulting from high iron ore port inventories and low margins at steel mills in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, down by $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.98 per tonne, down by $1.32 p...Read More
Seaborne hard coking coal and pulverized coal injection (PCI) prices declined on Wednesday October 14, following the recent slump in premium hard coking coal prices after China issued a verbal notice banning coal imports from Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, down $0.83 per tonne Premium hard coking coal, cfr Jingtang: $134.98 per tonne,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil (HRC) moved sharply higher in September, in line with our expectations, but the magnitude of the rise exceeded our predictions. Domestic HRC prices averaged $566 per ton in September, exceeding our $540 per ton forecast price.A c...Read More