Egypt's Ministry of Finance has decided to exempt finished steel imports from the recently imposed 10% duty if they are to be used for "industrial purposes."The ministry reviewed its decision after a request from the Federation of Egyptian Industries' (FEI) on the new duties.On Monday July 13, the ministry announced that the 10% duty...Read More
The imported billet price increased in Egypt because of higher offers despite tepid demand in the week to Thursday July 16. CIS-origin billet was offered this week at $400-405 per tonne cfr while buyers believed $350 per tonne cfr may be a workable price for the material. CIS sellers did not accept the lower-priced bids. No deals were heard over the assessment period because...Read More
Turkish domestic long steel prices have increased over the past week in line with the recent upturn in imported scrap values, sources said on Thursday July 16. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey was 3,400-3,480 lira ($496-507) per tonne on Thursday, up from 3,350-3,400 lira per tonne of last week, including 18% VAT. Steel mills in the I...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 16 that are worth another look.The United States Federal Circuit on Wednesday July 15 decided to reverse the US Department of Commerce's decision to collapse three Taiwanese steelmakers to calculate a combined anti-dumping margin for certain corrosion-resistant steel products (CORE), according to public documents.Ru...Read More
Turkish steel mills continued their deep-sea scrap purchases at higher prices, sources told Fastmarkets on Thursday July 16.A steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $258.50 per tonne, shredded at $263.50 per tonne and plate and structural scrap (P&S) at $269.50 per tonne cfr. The cargo composition was not clear at the time of publication, but the traditio...Read More
Seaborne iron ore prices went down further on Thursday July 16 with few deals done in the seaborne market and persistent concerns of weak demand due to floods in southern China, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $112.30 per tonne, down $0.68 per tonne.62% Fe low-alumina fines, cfr Qingdao: $113.05 per tonne, down $1.06 per tonne. 58% Fe fines high-grade premium,...Read More
Car and motorcycle maker BMW Group has signed a ?,?2 billion ($2.28 billion) contract with Swedish battery maker Northvolt to secure a stable supply of battery cells for its fleet of electric vehicles (EVs), the German company said on Thursday July 16.The contract is for battery production starting from 2024 at the Northvolt gigafactory currently under development in Skelleftea, northern Sweden.Th...Read More
Sales of passenger cars in Europe fell by 22.34% year on year in June 2020, marking the sixth consecutive month of decline.New car sales in Europe totaled 949,722 vehicles in June 2020, down from 1,222,942 units sold in the corresponding month of 2019, the European Automotive Manufacturers Association (ACEA) said on Thursday July 16."However,...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 16 that are worth another look.The United States Federal Circuit on Wednesday July 15 decided to reverse the US Department of Commerce's decision to collapse three Taiwanese steelmakers to calculate a combined anti-dumping margin for certain corrosion-resistant steel products (CORE), according to public documents.Ru...Read More
A summary of the second-quarter 2020 production results from British multinational mining company Anglo American, it said in its latest production report released on Thursday July 16.In brief The company registered an output of 4 million tonnes of metallurgical coal in the second quarter of 2020, a 32% year-on-year decline. The sharp decrease in metallurgical coal production was principally due to...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 16 that are worth another look.The United States Federal Circuit on Wednesday July 15 decided to reverse the US Department of Commerce's decision to collapse three Taiwanese steelmakers to calculate a combined anti-dumping margin for certain corrosion-resistant steel products (CORE), according to public documents.Ru...Read More
The three-month copper price on the London Metal Exchange recovered at the close of trading on Thursday July 16, closing above nearby resistance at $6,400 per tonne, while a positive close for LME zinc saw it make the most gains across the base-metals complex over the afternoon.Copper's underlying price on the LME closed at $6,436.50 per tonne on Thursday, climbing from an intraday low of $6,305.5...Read More
Lithium hydroxide monohydrate, min 56.5% LiOH.H2O, battery grade, spot price, cif China, Japan & Korea, trade log including business, bids, offers and assessments reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Read More
The lithium carbonate, min 99.5% Li2CO3, battery grade, spot price, cif China, Japan & Korea, trade log including business, bids, offers and assessments reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 16 that are worth another look.The United States Federal Circuit on Wednesday July 15 decided to reverse the US Department of Commerce's decision to collapse three Taiwanese steelmakers to calculate a combined anti-dumping margin for certain corrosion-resistant steel products (CORE), according to public documents.Ru...Read More
The three-month copper price on the London Metal Exchange recovered at the close of trading on Thursday July 16, closing above nearby resistance at $6,400 per tonne, while a positive close for LME zinc saw it make the most gains across the base-metals complex over the afternoon.Copper's underlying price on the LME closed at $6,436.50 per tonne on Thursday, climbing from an intraday low of $6,305.5...Read More
Seaborne premium coking coal prices fell further on Thursday July 16, largely due to China's strict import restrictions and with market participants split over the future direction of the steelmaking raw material, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.22 per tonne, down $1.63 per tonne Premium hard coking coal, cfr Jingtang: $117.96 per ton...Read More
Seaborne iron ore prices went down further on Thursday July 16 with few deals done in the seaborne market and persistent concerns of weak demand due to floods in southern China, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $112.30 per tonne, down $0.68 per tonne.62% Fe low-alumina fines, cfr Qingdao: $113.05 per tonne, down $1.06 per tonne. 58% Fe fines high-grade premium,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Upside breakout last weekThe price of aluminium on the London Metal Exchange surprised us with a break to the upside in the week ended July 10, when prices on the Shanghai Futures Exchange raced to three-and-a-half-year highs. While we think there is more short-term upside potential if technical and liquidity fact...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:Upward momentum in US domestic sheet steel prices came to a halt in the second half of June, wiping out earlier gains. Although the prices of hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased on a monthly average basis, the d...Read More