Semi-finished steel imports to the Philippines, mostly made up of steel billet, fell 11.6% year on year in the first half of 2021 with demand choked by the country's ongoing struggles with Covid-19.1.23 million tonnes of material were imported to the Philippines in January-June 2021, down from 1.39 million tonnes over the first half of 2020, according to statistics compiled by the Philippines...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 14 that are worth another look....Read More
China Copper's copper concentrates procurement manager Garin Wang has recently joined Gerald Metals, Fastmarkets learned. Wang has taken up the role as senior concentrates trader of Gerald's Shanghai office, sources...Read More
Several lead smelters in China, which have previously struggled to raise finance, have been restarting their idled furnaces to take advantage of opportunities to sell the heavy metal's by-products abroad, market sources said.Over the past few months, Hunan-based lead smelters, including Hunan Yuteng Nonferrous Metals and Chenzhou City Jingui Silver Industry Co, have obtained silver tolling li...Read More
Selling on the London Metal Exchange continued on Tuesday September 14, with all prices declining for a second day."We get the feeling that the markets are in the midst of an overdue correction as there does not seem much that is new for the bulls to feed on and thus justify another push higher," ED&F Man's head of commodity research Edward Meir said on Tuesday afternoon. Aluminium - the rece...Read More
Seaborne coking coal prices in the cfr market continued to climb on Tuesday September 14, mainly due to supply tightness, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $493.17 per tonne, up $5.84 per tonneHard coking coal, cfr Jingtang: $452.87 per tonne, up $6.31 per tonnePremium hard coking coal, fob DBCT: $358.28 per tonne, down $3.82 per tonneHard coking c...Read More
Seaborne iron ore prices continued to decline on Tuesday September 14, due to depressed demand in certain regions of China, where steelmakers are facing energy consumption and emissions-control measures, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.67 per tonne, down $2.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $122.63 per tonne, down $1.53 per ton...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Steel scrap consumers in the British market have won price concessions in their delivery settlements with suppliers for September, trade sources said on Tuesday September 14.The buyers used the slow export market and a consequent build-up of material to successfully argue for lower costs for their supplies this month.Steel foundries managed to negotiate a reduction of around ?10 ($14) per tonne o...Read More
Several lead smelters in China, which have previously struggled to raise finance, have been restarting their idled furnaces to take advantage of opportunities to sell the heavy metal's by-products abroad, market sources said.Over the past few months, Hunan-based lead smelters, including Hunan Yuteng Nonferrous Metals and Chenzhou City Jingui Silver Industry Co, have obtained silver tolling li...Read More
An internationally coordinated floor on the price of carbon could be "strikingly effective" in reducing greenhouse gas emissions, compared with alternatives such as annual targets or a carbon border adjustment mechanism (CBAM), according to a policy expert at the International Monetary Fund (IMF).His comments come ahead of the 26th United Nations Climate Change Conference of the Parties (COP26) in...Read More
Selling on the London Metal Exchange continued on Tuesday September 14, with all prices declining for a second day."We get the feeling that the markets are in the midst of an overdue correction as there does not seem much that is new for the bulls to feed on and thus justify another push higher," ED&F Man's head of commodity research Edward Meir said on Tuesday afternoon. Aluminium - the rece...Read More
China Copper's copper concentrates procurement manager Garin Wang has recently joined Gerald Metals, Fastmarkets learned. Wang has taken up the role as senior concentrates trader of Gerald's Shanghai office, sources...Read More
Base metals prices on the London Metal Exchange continued their consolidation on the morning of Tuesday September 14, following an afternoon of profit-taking on Monday. After reaching its latest year-to-date peak of $3,000 per tonne on Monday, the three-month aluminium price ended the day down by 3.5% from that level at $2,896.50 per tonne. It has continued to trend lower on Tuesday, recently at $...Read More
Yunnan province, in China's southwestern region, has imposed restrictions on the operations of a few industries with high energy consumption, according to a notice seen by Fastmarkets. Issued by the Yunnan provincial development and reform commission on Saturday September 11, the notice highlighted operational curbs on a number of ferrous and non-ferrous metals - including steel, aluminium, silico...Read More
Prices for flat steel products in Russia's Central Federal District around Moscow continued to fall in the week ended Monday September 13, on good availability of hot-rolled (HR) sheet from local producers and the export price shadowing the domestic downward trend, sources have told Fastmarkets.Tubes and pipes makers, key customers which buy large volumes of hot-rolled coil, were able to achieve f...Read More
Some flat steel import prices to the United Arab Emirates and Saudi Arabia fell during the week ended Tuesday September 14 so buyers held back from activity and preferred to wait for prices to flatten, sources told Fastmarkets.End-user demand was weak so buyers did not place any big orders despite their low stock levels.Saudi ArabiaChina offered HRC at $970 per tonne cfr Saudi Arabia, falling from...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
China's barrage of steel billet buying slowed down on Tuesday September 14 after a sharp decline in the country's ferrous futures markets, sources have told Fastmarkets.While the recent announcements of production cut in China have badly hurt iron ore prices in the country, demand for billet has strengthened over the past week with buyers viewing the material as a ready replacement in their steelm...Read More