Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Hot-rolled coil prices in the United States rose to nearly $97 per hundredweight ($1,940 per short ton), with market participants projecting that a flurry of planned mill closures for maintenance will extend the rally.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.83 per cwt ($1,936.60 per ton) on Thursday August 26, up by 1.59% from $95.31 per cwt on Wednesday A...Read More
Brazil's Companhia Brasileira de Alum?-nio (CBA) expects to finish a feasibility study for its Rondon bauxite mine by year-end 2022, but will need a strategic partner for the operation's start-up, the aluminium company said on Thursday August 26."We expect this process to develop for around 18 more months, or until the end of next year," chief financial officer Luciano Alves said in a press confer...Read More
Domestic long steel prices in Turkey have continued to weaken in line with falling scrap costs and the strengthening lira, market sources said on Thursday August 26.Turkish steel producers were keeping their deep-sea scrap purchases at a slow pace to be able to put downward pressure on scrap prices.The most recent deep-sea scrap trade was recorded on August 25, when a steel mill in the Iskenderun...Read More
Billet prices in Turkey have gone down over the past week thanks to falling imported scrap costs and limited demand, market participants told Fastmarkets on Thursday August 26.Turkish steel producers' demand for imported scrap has been limited in recent weeks.The most recent deep-sea scrap trade was recorded on Wednesday August 25, when a steel mill in the Iskenderun region booked a Belgian cargo...Read More
Iranian export prices for steel billet continued to decrease in the week to Wednesday August 25 amid the general global downtrend, Fastmarkets heard.Steel output from the country's mills was expected to improve in September, when the weather will be less hot and mills will be allowed a more generous allocation of electricity to be used for steelmaking.For the moment, Iranian producers had to cut p...Read More
Base metals prices on the London Metal Exchange performed well during the day but largely failed to hold momentum by 5pm on Thursday August 26, despite reaching intraday highs above Wednesday's closing levels.The aluminium three-month contract hit $2,639 per tonne during Thursday's trading, just $3 per tonne below its latest year-to-date high of $2,642 per tonne from July 30.It was the most traded...Read More
China's domestic stainless steel prices were down on Wednesday August 25 compared with a week earlier, but the market had picked up after experiencing losses earlier this week.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,200-18,600 ($2,810-2,871) per tonne, down by 600-700 yuan per tonne from a week earlierThe three-month nickel contract on the London Metal Exchange e...Read More
Major steel production exports out of China in July decreased from June due to the removal of an export rebate on May 1.For instance, the hot-rolled coil export was 817,276 tonnes in July, down by 20% from 1.03 million tonnes in June, according to customs data.Market participants expect exports to keep the month-on-month...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
The Turkish steel mills have gone quiet in the deep-sea scrap markets once again after booking a single cargo earlier in the week, market sources said on Thursday August 26.A steel mill in the Iskenderun region booked a Belgium-origin cargo on Wednesday, comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The HMS 1&2 (80:20) price of th...Read More
Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.This includes projects and targets for green steel, carbon capture, carbon neutral, net zero, low-carbon emissions and fossil-free steel. Hotspots appear in Germany, France and Sweden, where steelmaking is already well established. Policy, funding and sharing of infras...Read More
The striking workers union at Caserones said that it was prepared for a "lengthy strike" on Wednesday August 25, after rejecting Minera Lumina Copper Chile's latest wage offer. 96% of members of the workers union at Caserones rejected the company's latest wage offer to the union and criticized the company for "presenting a new offer without first having talks". The union noted that it hopes t...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Base metals prices on the London Metal Exchange performed well during the day but largely failed to hold momentum by 5pm on Thursday August 26, despite reaching intraday highs above Wednesday's closing levels.The aluminium three-month contract hit $2,639 per tonne during Thursday's trading, just $3 per tonne below its latest year-to-date high of $2,642 per tonne from July 30.It was the most traded...Read More
Seaborne premium hard coking coal and hard coking coal prices in the cfr market both increased by over $16 per tonne on Thursday August 26, with rising offer prices and market expectations.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.93 per tonne, up $17.09 per tonneHard coking coal, cfr Jingtang: $385.67 per tonne, up $20.36 per tonnePremium hard coking coal fob DBCT: $243.98 p...Read More
Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.This includes projects and targets for green steel, carbon capture, carbon neutral, net zero, low-carbon emissions and fossil-free steel. Hotspots appear in Germany, France and Sweden, where steelmaking is already well established. Policy, funding and sharing of infras...Read More
Major steel production exports out of China in July decreased from June due to the removal of an export rebate on May 1.For instance, the hot-rolled coil export was 817,276 tonnes in July, down by 20% from 1.03 million tonnes in June, according to customs data.Market participants expect exports to keep the month-on-month...Read More