The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
European trade groups warned about the potentially "catastrophic impact" of a Chinese magnesium supply shortage on metals producers in the region, calling on the European Commission and national governments to take immediate action to mitigate the risks to industry.The groups - European Aluminium, European steel association Eurofer, European Automobile Manufacturers' Association, European metals a...Read More
Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Closures at Chinese rerolling mills amid power rationing and environmental measures, together with spiraling ferrous futures markets, have badly damaged steel billet demand in the country this week...Read More
The price for grade 18/8 alloy steel scrap increased due to higher nickel costs, while underlying market fundamentals remained stable, sources told Fastmarkets on Friday October 22.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,340-1,440 ($1,850-1,988) per tonne on Friday, up by ?10-40 per tonne from ?1,330-1,400 per tonne the...Read More
Carbon steel plate prices in the United States were stable on Friday October 22 but are expected to go up next week, since Nucor announced a price increase Friday that market participants believe will be accepted.Fastmarkets' cut-to-length plate, fob mill US price was assessed at $89 per hundredweight ($1,780 per short ton) on Friday, flat since October 1 and at an all-time high.Inputs ranged...Read More
European trade groups warned about the potentially "catastrophic impact" of a Chinese magnesium supply shortage on metals producers in the region, calling on the European Commission and national governments to take immediate action to mitigate the risks to industry.The groups - European Aluminium, European steel association Eurofer, European Automobile Manufacturers' Association, European metals a...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
Ferrous scrap prices in the global markets continued to strengthen in the week ended Friday October 22 amid firm demand and tight supply. Turkish steel mills continued to pay higher prices for deep-sea scrap cargoes, while buyers in Southeast Asia had to raise their bids because of limited supply.?EUR?Turkish steel mills end the week with five deep-sea cargo trades, prices up?EUR?Tight supply in t...Read More
Spot prices for hot-rolled coil in China fell sharply on Friday October 22 following the tumble in futures prices on Thursday triggered by Beijing's moves to rein in soaring coal prices.Domestic Eastern China (Shanghai): 5,550-5,600 yuan ($869-877) per tonne, down by 150-160 yuan per tonne Northern China (Tangshan) weekly assessment: 5,550-5,620 yuan ($869-880) per tonne, down by 160-170 yu...Read More
Russia's Metalloinvest plans to construct the world's biggest hot-briquetted iron (HBI) facility, to help speed up the transition to green steel production, the company said this week.Technology provider Midrex Technologies and engineering company Primetals will supply the new HBI Plant (HBI-4) at Lebedinsky GOK (LGOK), Metalloinvest said. The plant will be built at Gubkin in west Russia, and will...Read More
A summary of Swedish metals producer Boliden's financial and production results for the third quarter of 2021, as released on Friday October 22.In brief:?EUR?Boliden's revenues for the third quarter of 2021 were 15,906 million Swedish krona, rising from 13,550 million krona in the previous quarter.?EUR?Boliden's total operating profit for the same June-September period, however, was 2,305 million...Read More
Domestic hot-rolled coil prices across Europe were stable on Friday October 22, after declining earlier in the week, sources told Fastmarkets.Bearish sentiment among buyers in northern Europe and Italy was driven by reduced demand from the automotive industry caused by the ongoing global semiconductor shortage and competitive import offers from Central Europe. Automotive steel consumption is estim...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 22.China Higher port prices and the likelihood of fewer shipments arriving in the coming months supported buying sentiment in the seaborne manganese ore market. Portside low- and high-grade manganese ore markets extended their rallies amid firm sentiment among suppliers, but buying appetites...Read More
Prices for Brazilian slab declined in the export market amid fresh deals, but sources see solid demand.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was at $720-740 per tonne on Friday October 22, down by $20 from $740-760 per tonne a...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 22.Jessica Long, Zihao Li and Ruby...Read More
Hot-rolled and cold-rolled coil prices continued to surge in Turkey during the week to Friday October 22, supported by strong demand, sources told Fastmarkets.Flat steel prices started increasing in Turkey last week following the spike in scrap prices.Scrap prices have increased further over the past week, with Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 22.China Higher port prices and the likelihood of fewer shipments arriving in the coming months supported buying sentiment in the seaborne manganese ore market. Portside low- and high-grade manganese ore markets extended their rallies amid firm sentiment among suppliers, but buying appetites...Read More
The price for grade 18/8 alloy steel scrap increased due to higher nickel costs, while underlying market fundamentals remained stable, sources told Fastmarkets on Friday October 22.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,340-1,440 ($1,850-1,988) per tonne on Friday, up by ?10-40 per tonne from ?1,330-1,400 per tonne the...Read More
Seaborne prices for low-volatility pulverized coal injection material (PCI) in both the fob and cfr markets in China have increased because of persistently tight supply, Fastmarkets heard on Friday October 22.A trade was finally heard in the fob spot market on Friday. And China's National Development & Reform Commission (NDRC) held a meeting during the morning to work out plans to tackle high coal...Read More
Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Closures at Chinese rerolling mills amid power rationing and environmental measures, together with spiraling ferrous futures markets, have badly damaged steel billet demand in the country this week...Read More