The provincial government of Liaoning in northeastern China has approved a merger between Anshan Iron & Steel (Angang) and Benxi Iron & Steel (Bengang), according to a notice released by the latter's listed arm, Bengang Plate, on Thursday August 19.The owner of Bengang - Liaoning's State-owned Assets Supervision & Administration Commission - will transfer a 51% controlling stake in the steelmaker...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
Cancellation of 44,000 tonnes of copper in London Metal Exchange warehouses kept the metal's nearby price spreads in backwardation on Monday August 23, while sentiment for LME prices turned positive after a week of selling.Some 44,475 tonnes of copper were booked for removal from the Busan, Singapore and Kaohsiung warehouses on Monday, reducing the amount of metal on-warrant to 197,750 tonnes, the...Read More
Key data from Fastmarkets' pricing session in London on Friday, August 20.Key drivers The European ferro-vanadium price weakened in the week to Friday August 20, with traders offering material at lower prices in a bid to reactivate the market and secure sales amid a slowdown in end-user inquiries. The reduction came after a period of continuing low demand and thin trading during summer doldru...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Domestic hot-rolled coil (HRC) prices in China extended their gains on Monday August 23, buoyed by constrained production but subdued by rising inventories and persistent concerns over demand.DomesticSteel hot-rolled coil domestic, ex-whs Eastern China (Shanghai) was 5,660-5,700 yuan ($870-876) per tonne, up by 30-40 yuan per tonne from Friday August 20.The most-traded HRC contract on the Sha...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
A huge drop in Chinese import steel billet bids has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in freefall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightly during...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More
Cancellation of 44,000 tonnes of copper in London Metal Exchange warehouses kept the metal's nearby price spreads in backwardation on Monday August 23, while sentiment for LME prices turned positive after a week of selling.Some 44,475 tonnes of copper were booked for removal from the Busan, Singapore and Kaohsiung warehouses on Monday, reducing the amount of metal on-warrant to 197,750 tonnes, the...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More