Domestic prices for steel wire rod in Italy have widened downward over the past seven days amid sluggish buying, a decline in scrap prices and the availability of cheap imports, Fastmarkets heard on Wednesday September 15.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, was ?,?800-845 ($945-998) per tonne on Wednesday, widening downward b...Read More
Increasing steel production rates in Japan are making Japanese yards increasingly reluctant to offer cargoes to China, market sources told Fastmarkets this week. Better margins to be found in Japan's domestic marketTaiwan continues to chase containerized cargoesContainer scrap offers to Bangladesh fall amid sluggish demandChinaA slowdown in downstream demand has continued to weight on spot demand...Read More
Sales of passenger cars in the European Union recorded double-digit falls in both July and August 2021, the European Automotive Manufacturers Association (ACEA) said on Thursday September 16.The decrease followed a continuous rise in car registrations in March-June 2021.Car registrations in the EU decreased by 23.20% year on year to 823,949 units in July 2021 and by 19.05% year on year to 622,993...Read More
The largest steelmakers in Bangladesh were largely out of the market for containers of steel scrap on Thursday September 16 following recent deep-sea cargo bookings, market participants have told Fastmarkets.In deals done last week, two deep-sea cargoes were booked to a mill in Bangladesh from the United States West Coast at $530 per tonne cfr for shredded, while a second mill booked deep-sea mate...Read More
Deliveries of stainless steel in China have been disrupted by an outbreak of Covid-19 in the major production hub of Fujian, but the resultant tightened supply failed to support stainless steel prices in the week ended Wednesday September 15.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,000-19,700 ($2,949-3,057) per tonne, down by 300-500 yuan per tonne from a week ear...Read More
Increasing steel production rates in Japan are making Japanese yards increasingly reluctant to offer cargoes to China, market sources told Fastmarkets this week. Better margins to be found in Japan's domestic marketTaiwan continues to chase containerized cargoesContainer scrap offers to Bangladesh fall amid sluggish demandChinaA slowdown in downstream demand has continued to weight on spot demand...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 grade, in-whs Rotterdam, $/lb...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 assessed Cobalt alloy...Read More
The Russian government is considering a near-threefold rise in the minerals extraction tax (MET) on iron ore from 2022 in order to balance the federal budget, sources told Fastmarkets on Wednesday September 15.The current MET on conditioned ores of ferrous metals in Russia is applied at 16.8%. This is calculated from a fixed base rate of 4.8% multiplied by a coefficient, which is currently 3.5, ac...Read More
Global trade flows of cobalt metal have been frozen by logistics disruptions including high freight costs and a shortage of available containers, market participants have told Fastmarkets.Cobalt metal is a highly liquid commodity, with traders moving metals on their books around the globe depending on price differentials between Asia and Europe.But in the past 2-3 months, such trade flows have bee...Read More
Steelmaker Arvedi is in the process of purchasing fellow Italian stainless steel producer Acciai Speciali Terni (AST) from Thyssenkrupp, the German steelmaker said on Thursday September 16.The sale, which is subject to approval by Thyssenkrupp's supervisory board and merger control clearance, also includes associated sales organizations in Germany, Italy and Turkey. The sale is expected to be comp...Read More
Tata Steel will adopt hydrogen technology at its steelworks at IJmuiden in the Netherlands as part of its sustainability process, the company announced on Wednesday September 15.The company already has a goal for the works to reduce its CO2 emissions by 5 million tonnes per year by 2030, and it has been exploring technological options to achieve this, including the capture and storage of CO2 or a...Read More
The largest steelmakers in Bangladesh were largely out of the market for containers of steel scrap on Thursday September 16 following recent deep-sea cargo bookings, market participants have told Fastmarkets.In deals done last week, two deep-sea cargoes were booked to a mill in Bangladesh from the United States West Coast at $530 per tonne cfr for shredded, while a second mill booked deep-sea mate...Read More
Turkish steel mills withdrew from the deep-sea scrap markets after booking several cargoes for October shipment, sources told Fastmarkets on Thursday September 16.Turkish steelmakers have booked at least five deep-sea cargoes so far in the reported week from the United States, Canada and Baltic Sea. Market participants generally agree that most steelmakers in the country have replenished their sto...Read More
German steelmaker Salzgitter has settled a contract for the supply of green steel to the Europe's largest home appliance manufacturer BSH Hausger??te, the companies announced on Thursday September 16.In September, Salzgitter's flat steel subsidiary Salzgitter Flachstahl started to supply green steel products with a 66% reduced CO2 footprint to BSH Hausger??te.The low-CO2 steel will initially be us...Read More
Service Center Metals (SCM) will invest $101.7 million on the largest expansion in its almost 20-year history, the Richmond, Virginia-based aluminium extrusion maker said on Tuesday September 14.The state of Virginia additionally will contribute $1.25 million in grants for SCM's expansion in Prince George County, a company spokesperson confirmed to Fastmarkets.The company will construct an alumini...Read More
The European Commission (EC) has extended definitive anti-dumping duties on imports of stainless steel cold-rolled (SSCR) flat products from China and Taiwan.The decision, published in the Official Journal of the European Union on Thursday September 16, followed an expiry review lodged by the European steel association Eurofer in May. The extended duties will now remain in place until 30...Read More
Turkish steel mills withdrew from the deep-sea scrap markets after booking several cargoes for October shipment, sources told Fastmarkets on Thursday September 16.Turkish steelmakers have booked at least five deep-sea cargoes so far in the reported week from the United States, Canada and Baltic Sea. Market participants generally agree that most steelmakers in the country have replenished their sto...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) has decided to join a federal government initiative to reduce power demand in the country, the company said on Thursday September 16.Adhering to this program will not affect production, however, CBA said. It will adjust consumption hours during the day to a schedule yet to be defined by the country's national electric system oper...Read More
Chilean state-owned copper producer Codelco has signed a labor agreement to last until 2024 with the No6 Benito Tapia Tapia trade union, which represents workers at its Salvador division, the company said on Wednesday September 15.The new agreement will be valid for 36 months. According to Codelco, 61% of the union's members voted in favor of taking no wage rise but having a settlement bonus of 4,...Read More