Sales volumes from Brazilian flat-rolled steel distributors decreased by 27.69% in September, compared with the corresponding month last year, national distributor association Inda said on Tuesday October 26.There was a much stronger base of comparison this year compared with 2020, when the market was rapidly recovering from lows caused by the Covid-19 pandemic.Sales totaled 291,500 tonnes in Sept...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia decreased or were unchanged during the week ended Tuesday October 26, with only one deal heard, sources told Fastmarkets.Offer prices decreased from India during the week, and Saudi Arabia also offered hot-rolled coil at reduced prices to the UAE."Everyone is in wait-and-see mode," one trader said. "With the Chinese futures ma...Read More
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...Read More
A summary of the operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also has assets in Europe and the United States, for the third quarter (July-September) of 2021In brief?EUR? In the third quarter, NLMK's consolidated sales decreased by 4% compared with the second quarter, to 4.1 million tonnes amid steel output reductions at its Russian flat steel division.?EUR?...Read More
Sentiment in China's import market for steel billet warmed on Tuesday October 26 following a more solid performance by ferrous futures markets and reports of better power supply in the east of the country.Physical rebar and billet prices remained flat in key Chinese local markets on Tuesday, while the most-traded January rebar futures contract on the Shanghai Futures Exchange (SHFE) closed at 4,91...Read More
Turkish steel producers have continued their deep-sea scrap purchases ahead of an upcoming national holiday, market participants told Fastmarkets on Tuesday October 26.A steel mill in the Marmara region booked a US-origin cargo comprising 20,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of shredded at an average price of $513 per tonne cfr.This compared with the most recent deep-sea cargoes book...Read More
Buyers in Taiwan continued to bid at higher prices for containerized steel scrap cargoes on Tuesday October 26, but there were expectations on the sell-side that the market would stabilize this week, sources told Fastmarkets.?EUR?Taiwanese buyers bid higher for containerized cargoes?EUR?South Korean mills raise bid prices for higher-grade materials?EUR?Major Chinese steelmakers reduce domestic scr...Read More
China imported 20,519 tonnes of ferrous scrap in September, a 49.39% drop compared with August's 40,540 tonnes, according to the latest Chinese customs data.Of the total, 11,750 tonnes, or 57.27%, originated in Japan.South Korea remained China's second-largest scrap supplier in September, accounting for 2,170 tonnes (10.58%) of imports.Canada with 1,621 tonnes, or 7.90% of the total, and Taiwan wi...Read More
Seaborne premium coking coal prices inched downward on Tuesday October 26 with no trading in the market. Meanwhile, Chinese mills were still to accept the domestic coke price increase proposed on Monday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $614.37 per tonne, down by $0.77 per tonneHard coking coal, cfr Jingtang: $568.59 per tonne, unchangedPremium hard coking coal, fob DBCT:...Read More
Seaborne iron ore prices rose on Tuesday October 26 amid some short-term positivity in demand for iron ore, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $122.30 per tonne, up $3.22 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.11 per tonne, up $3.63 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.41 per tonne, up $3.44 per tonne65% Fe Brazil-ori...Read More
Spot prices for hot-rolled coil in China fell on Tuesday October 26 amid weakening demand and a weakening of the futures market on Monday night.DomesticEastern China (Shanghai): 5,500-5,550 yuan ($862-870) per tonne, down by 50 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange fell sharply on Monday night, plunging to a four-month trough of 5,135 yuan per tonne during the...Read More
London Metal Exchange prices were mostly lower on the morning of Tuesday October 26, with copper leading the decline with a 1.2% fall and nickel being the exception. Most nearby spreads remained in backwardation, indicating tightness in various markets.Copper's three-month price was at $9,750 per tonne at 9am, down from Monday's 5pm price of $9,867.50 per tonne. Following the LME's newly imposed r...Read More
Rebar demand in China's domestic market strengthened on Tuesday October 26 amid good weather, though prices were unchanged with sellers coming under destocking pressure.Domestic Eastern China (Shanghai): 5,350-5,400 yuan ($838-846) per tonne, unchangedRebar consumption rates among end users strengthened during the day with most parts of China experiencing mild weather conditions. This improved dem...Read More
Silicon prices in the United States continued to rise, chasing earlier increases in other regions. The US price hit an all-time high for the fifth week in a row, although prices in Europe and China were flat to down in the week to Friday October 22.The US price moved sharply during the assessment week, with range widening to a $1.25-per-lb spread and a high end hit $5 per lb for a commodity that w...Read More
International cobalt spot metal prices have trended upward since the beginning of September, with sellers keeping the material in tight hands and offering aggressively, sources said. Meanwhile, the "mating season" is in full swing and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.Fastmarkets' benchmark price assessment for cobalt standard g...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
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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 assessed Cobalt standard...Read More
Guidance for China to achieve its carbon emissions peak by 2030 and carbon neutrality by 2060 was jointly released by the Central Committee of the Communist Party of China and the State Council on Sunday October 24.The guidance specifies that by the year 2025, China's energy consumption per unit of gross domestic product will be reduced by 13.5% from 2020 levels, carbon dioxide (CO2) emissions per...Read More
India is looking to set its own standards for copper and aluminium scrap to ensure better environmental compliance of secondary industries and improve the quality of finished products, Dhawal Shah, Bureau of International Recycling's (BIR) board chairman, said."There are two choices for the people in power. The first one is to believe in the good work of our industry and allow ramping up of second...Read More
U.S. equity index futures were mixed this morning. S&P 500 Index were unchanged in pre-opening trade.The Canadian Dollar was quiet at US80.62 cents prior to an economic update to be released by the Bank of Canada at 10:00 AM EDT. A conference call following the update is scheduled at 11:00 AM EDT. Consensus calls for no change in the Bank of Canada's overnight lending rate to major Canadian ba...Read More