Steel rebar and billet buyers in Egypt are waiting for prices to fall further before placing orders, sources told Fastmarkets.Global billet and rebar prices have recently been weakening; buyers in Egypt are waiting for prices to flatten before placing orders.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $610-620 per tonne on September 16, falling from $620-...Read More
Imports of aluminium scrap into the United States fell by 6.22% month on month to 62,949 short tons in July compared with 67,130 short tons the month prior after a rise in deliveries of used beverage cans (UBCs) was outweighed by a drop in volumes of industrial and other aluminium scrap, according to the latest data from the US Commerce Department. But year-to-date aluminium scrap deliveries total...Read More
London Metal Exchange base-metals prices were mostly lower at the 5pm close of trading on Thursday September 16, with a rise in the US dollar and the intended release of more metal from China's reserves weighing on the complex.The US Dollar Index reached its highest on Thursday since August 27, with an intraday high of 92.97. The index was well bid, with investors expecting a hawkish view from the...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
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 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
Seaborne iron ore prices continued to fall on Thursday September 16 amid sustained demand weakness, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $107.21 per tonne, down $9.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $108.16 per tonne, down $9.64 per tonne58% Fe fines high-grade premium, cfr Qingdao: $79.65 per tonne, down $8.88 per tonne65% Fe...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
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
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
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
Domestic hot-rolled coil prices in China rose on Thursday September 16, with the latest industry data pointing to continued declines in both output and inventories.DomesticEastern China (Shanghai): 5,780-5,830 yuan ($897-904) per tonne, up by 50-70 yuan per tonneThe China Iron and Steel Association (Cisa) said on Thursday morning that daily output of crude steel from its member mills averaged 2.04...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
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
Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....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
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
Base metals prices on the LME and SHFE were mixed on the morning of Friday September 17, with most remaining listless despite being buffeted by a firmer US dollar, generally weaker economic data and disruption to both production and supply.Broader markets were quiet but firmer heading into the weekend and China's Mid-Autumn Festival holiday takes place on Monday and Tuesday.Base metalsThree-month...Read More
China's Yunnan province might reconsider its energy consumption curbs, it stated in a notice on Saturday September 11.In a notice that was issued by the Yunnan provincial Development and Reform Commission and seen by Fastmarkets, the province highlighted the operational curbs of a few industries with high energy consumption.The province stepped up restrictions of both ferrous and non-ferrous indus...Read More
Australian miner Whitehaven Coal's Vickery Extension Project has been approved by the federal government, it said on Thursday September 16.The project comprises an open-cut coal mine and other infrastructure about 25km north of Gunnedah town in New South Wales. It will produce mainly coking coal for steelmaking, with the rest being high-quality thermal coal for export.The mine...Read More