Domestic steel rebar prices in Russia's Central Federal District around Moscow have jumped by up to $185 during the week to Monday October 25 on depleted stocks and limited supply from the mills.Fastmarkets' assessment of steel reinforcing bar (rebar) domestic, cpt Moscow, Russia was in a wide range of 62,000-75,000 roubles ($888.46-1,074.75) per tonne cpt on Monday, including 20% value-added tax,...Read More
Turkish steel mills continued to pay higher prices for deep-sea scrap, with news of a deal for US scrap from Friday pushing up prices on Monday October 25, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (80:20) at $510 per tonne and shredded at $530 per tonne cfr late on Friday October 22. The cargo composition,...Read More
Netherlands-based automaker Stellantis NV and Samsung SDI have entered into a memorandum of understanding to form a joint venture that will produce battery cells and modules for the North American electric vehicle (EV) market.The plant is expected to start production in 2025 and have an initial annual production capacity of 23 gigawatts (GWh), with a potential to increase to 40 GWh, according to a...Read More
London Metal Exchange futures prices were broadly up on the morning of Monday October 25, following a substantial sell-off on the previous Friday, with concerns about power restrictions in China supporting higher aluminium prices. Aluminium's three-month price rose the most on Monday, up 2% to $2,926 per tonne at 9am from $2,868 per tonne on Friday, with more than 5,600 lots of the metal traded at...Read More
A combination of hurdles to a recovery of demand, elevated freight rates and lower supply have capped premiums for aluminium billet in Thailand for the second time in three months.Buyers continue to report a shortage of supply from producers in the market, though few were actively negotiating for cargoes. Fastmarkets' monthly assessment of the aluminium 6063 extrusion billet premium, cif Thailand...Read More
Sentiment in the US hot-rolled coil market has been mixed but continues to lean bearish, with prices again trending downward over the past week, backsliding to levels last seen in August.Fastmarkets' calculation of the daily steel hot-rolled coil index, fob mill US averaged $95.93 per hundredweight ($1,918.60 per short ton) during the week ended Friday October 22, down by 0.54% from $96.45 per cwt...Read More
Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More
Russian steelmaker Novolipetsk's (NLMK) US steel assets performed well in the third quarter of 2021 on a combination of higher steel prices and stable demand."In the third quarter of 2021, average steel prices grew across all key sales markets. In the US, prices hit new highs," according to NLMK Group's chief financial officer Shamil Kurmashov. Flat-rolled steel selling prices in the US were...Read More
BlueScope Steel Ltd attributed its increased guidance for the first half of its fiscal 2022 year to the performance at its Delta, Ohio, hot-rolled coil mill and its North America coated products business.BlueScope anticipates underlying earnings before interest and tax (Ebit) to be in the range of Australian $2.1 billion-2.3 billion ($1.57 billion-1.72 billion). This is an increase from the prior...Read More
JSW Steel USA swung to profitability in its fiscal second quarter a healthy US market with robust steel selling prices, according to the company. The steel producer's Ohio segment reported $48.28 million in earnings before interest, taxes, depreciation and amortization (Ebitda) on $200.8 million in revenue for its fiscal second quarter ended September 30, compared with an Ebitda loss of $10.5...Read More
Hot-rolled coil prices in the United States dropped considerably on Monday October 25, lending credence to the growing number of bearish viewpoints expressed in the market over the past several weeks.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $93.45 per hundredweight ($1,869 per ton) on Monday October 25, down by 2.03% from $95.39 per cwt on Friday October 22 and...Read More
Turkish domestic scrap prices continued to rise over the past week amid rising imported scrap values, market sources told Fastmarkets on Monday October 25.And Turkish steelmakers continued their deep-sea scrap bookings from last week despite increasing prices.Steel producers in the country booked five deep-sea cargoes in the week to Friday October 22.In response to the upward movement in the impor...Read More
Seaborne coking coal prices were relatively stable across the board on Monday October 25, with no transactions heard, sources told Fastmarkets - although some Chinese coke producers proposed price hikes and Shanxi province unveiled its winter restrictions plan.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $615.14 per tonne, down $0.26 per tonneHard coking coal, cfr Jingtang: $568.59 p...Read More
Seaborne iron ore prices were largely stable on Monday October 25, but market sentiment was weak due to poor iron ore and steel demand outlooks, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.08 per tonne,down $0.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.48 per tonne,down $0.41 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne,do...Read More
Bahrain Steel is to convert 2 million tonnes per year of iron ore from the Minas-Rio mine in Brazil into high-quality pellet for multinational mining company Anglo American.Under the three-year agreement, Anglo American will ship 2 million tpy of iron ore (pellet feed) from its Minas-Rio mine in...Read More
Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More
Prices for seaborne iron ore concentrate and pellets decreased along with the futures contract for the steelmaking raw material in the week ended Friday October 22. Meanwhile, China has started to buy buying Ukrainian and Sierra Leonean concentrate despite a hazy near-term outlook for spot demand, sources said. Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $147.58 per tonne, down $1...Read More
Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,550-5,600 yuan ($870-877) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Monday, finishing the day at 5,180 yuan per tonne, which...Read More
China's domestic rebar prices recovered some losses on Monday October 25 after debt-ridden developer Evergrande Group announced a resumption of its construction projects in several Chinese cities.Domestic Eastern China (Shanghai): 5,350-5,400 yuan ($838-846) per tonne, up by 50 yuan per tonneEvergrande, one of the largest property developer in China, is preparing to resume the construction of a do...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More