The United States' domestic steel reinforcing bar prices were steady over the past week, with sources trying to absorb the mixed market signals of increased rebar demand and dropping prices for shredded scrap - rebar's key feedstock material.Fastmarkets' assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday August 18, unchanged from the previou...Read More
The United States' domestic steel reinforcing bar prices were steady over the past week, with sources trying to absorb the mixed market signals of increased rebar demand and dropping prices for shredded scrap - rebar's key feedstock material.Fastmarkets' assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday August 18, unchanged from the previou...Read More
Commodity trading company Traxys has expanded its metal concentrates business with the appointment of a team that previously handled tin, tungsten, tantalum and niobium concentrates trading for commodity trading Noble Group.Theteam will be headed by Ioannis Kallinikos, previously head of industrial minerals and metals at Noble Group for more than six years. From 2010 to 2014, he was general manage...Read More
Chinese battery materials producer GEM Co has signed a five-year strategic cooperation framework agreement with Shanghai-listed battery manufacturer Farasis Energy to recycle spent electric vehicle batteries and battery scrap in China. Under the framework agreement, GEM will recycle, dismantle and re-use spent batteries and battery scrap from Farasis Energy, with prices to be led by market conditi...Read More
Chinese battery materials producer GEM Co has signed a five-year strategic cooperation framework agreement with Shanghai-listed battery manufacturer Farasis Energy to recycle spent electric vehicle batteries and battery scrap in China. Under the framework agreement, GEM will recycle, dismantle and re-use spent batteries and battery scrap from Farasis Energy, with prices to be led by market conditi...Read More
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
Imported steel billet prices in Egypt fell in the week to Thursday, August 19, but demand failed to improve, sources told Fastmarkets.Demand for billet imports, however, was weak because of limited demand for the end product, rebar.The Egyptian government ended the ban on construction on July 1.However, rebar demand remained low in Egypt during the week because of decreasing global...Read More
The premium on copper cathodes imported into China shot up on Thursday August 19 to its highest level since May 2020, buoyed by the opening of an arbitrage window between London and Shanghai.Fastmarkets assessed the benchmark copper grade A cathode premium, cif Shanghai, at $75-100 per tonne on Thursday, up by $10-20 per tonne from $65-80 per tonne on Wednesday, and the highest since late May last...Read More
Commodity trading company Traxys has expanded its metal concentrates business with the appointment of a team that previously handled tin, tungsten, tantalum and niobium concentrates trading for commodity trading Noble Group.Theteam will be headed by Ioannis Kallinikos, previously head of industrial minerals and metals at Noble Group for more than six years. From 2010 to 2014, he was general manage...Read More
Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
Tata Steel India has commissioned its first steel recycling plant in Rohtak, Haryana, the company announced on August 18, providing a boost to the Indian domestic scrap industry.The plant will have a capacity of 500,000 tonnes per year and will be set up at Rohtak, Haryana. It is being built in partnership with Aarti Green Tech, a subsidiary of Aarti Steel, as a 'Build, Own, Operate' (BOO) partner...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 19 that are worth another look.Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on...Read More
Imported steel billet prices in Egypt fell in the week to Thursday, August 19, but demand failed to improve, sources told Fastmarkets.Demand for billet imports, however, was weak because of limited demand for the end product, rebar.The Egyptian government ended the ban on construction on July 1.However, rebar demand remained low in Egypt during the week because of decreasing global...Read More
Tin was the most affected metal on Thursday's sell-off on the London Metal Exchange, while all metals fell further with risk-off sentiment spreading across commodities and exchanges while Covid-19 continues to dent demand expectations. Tin's three-month price fell 6.4% at the 5pm close to $33,118 per tonne, despite falling by as much as 11% during early trading to $31,500 per tonne on Thursday for...Read More
A month-on-month drop in the Kanto Tetsugen auction and a price cut by major mill Tokyo Steel on Thursday August 19 has increased pessimism in the Japan steel scrap market, sources said.Japan's Kanto tender closed at a fall of $11 per tonne month on monthBearish sentiment in Chinese steel markets weighed on scrap import pricesTaiwan imported containerized scrap price stableJapanJapan's Kanto...Read More
The Turkish deep-sea scrap import market was quiet on Thursday August 19, with the mills keeping their purchases limited for September-shipment cargoes, Fastmarkets was told.The most recent trade was recorded on Wednesday August 18, when a steel producer in northern Turkey booked a European cargo comprising 25,000 tonnes of heavy melting scrap 1&2 (80:20), 7,500 tonnes of shredded and 7,500 tonnes...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade.Volume on U.S. equity markets is expected to be higher than average today due to "Triple Witching" activity.The Canadian Dollar was unchanged at US77.50 cents following release of Canada's June Retail Sales report at 8:30 AM EDT. Consensus was a gain of 4.5% versus a decline of 2.2% in M...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 19 that are worth another look.Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on...Read More
Domestic hot-rolled coil prices in China extended their losses, falling to their lowest in about six weeks on Thursday August 19; futures prices continued their decline on demand concerns and waning cost supports.DomesticEastern China (Shanghai): 5,600-5,620 yuan ($863-866) per tonne, down by 90 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange weakened for a second stra...Read More
European ferro-titanium suppliers are set to push up their offer prices for the remaining months of 2021 with steel mills returning to the market after the summer slowdown, industry sources told Fastmarkets.Suppliers have reported deals done above $8 per kg basis ddp for ferro-titanium for delivery in the fourth quarter, as well as deals done approaching $8 per kg for prompt shipment in Europe.The...Read More