Swedish steelmaker SSAB has produced and delivered the world's first fossil-free steel, it said on Wednesday August 18.At a ceremony at SSAB Oxel??sund, the company announced that it has produced what it says is steel made with iron produced using HYBRIT technology, meaning the iron is reduced by 100% hydrogen instead of coal and coke.The technology was developed through a partnership between SSAB...Read More
China's domestic rebar prices decreased on Wednesday August 18 amid sharp losses in the futures market and subdued restocking demand. DomesticEastern China (Shanghai): 5,140-5,170 yuan ($793-798) per tonne, down by 50 yuan per tonneRebar futures plunged during the day on market participants' pessimistic outlook for demand in the next few months. Housing investments in the first seven...Read More
Short supply of nickel products in the United States pushed the cut cathode premium up by more than that for briquette in the week to Tuesday August 17, while trade was still subdued in other regions, Fastmarkets has heard.US 4x4 cut cathode premium up by 11.1%Continued arbitrage losses, Covid-19 problems worry Chinese tradersEuropean premiums flat in summer holiday lull.Both US premiums rise in b...Read More
The prices of steel hollow sections in Europe remained unchanged on Wednesday August 18 with the market still going through its seasonal slow spell, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,400-1,430 ($1,644-1,679) per tonne on Wednesday, unchanged week on week.There was almost no trading in the market wh...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 18 that are worth another look.The chief executive officer of steel group Techint, Paolo Rocca, was acquitted of all charges in the "notebooks case," an investigation in Argentina into alleged payments made by the company to government officials in 2008.Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More
The United States Department of Commerce ordered a final anti-dumping duty rate on sales of certain steel and alloy wire rod from Mexico shipped to US that were made at a less-than-normal value from October 1, 2018 through September 30, 2019, according to a notice in the Federal Register on Wednesday August 18.The order is a result of the agency's investigation into wire rod shipments to the US fr...Read More
European steel H-beam prices remain unchanged on Wednesday August 18 while the market considers its post-summer strategy, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,233-1,268) per tonne on Wednesday, unchanged week on week.Following the seasonal summer slowdown in July and August, the reopening of t...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More
The domestic price for steel wire rod in Southern Europe was unchanged in the week to Wednesday August 18 amid quiet trading, while falling raw material prices weigh on market outlook, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was unchanged at ?,?830-850 ($975-998) per tonne on August 18.Steel producers and...Read More
The steel rebar market in Southern Europe remained quiet, with prices flat, in the week to Wednesday August 18, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was unchanged at ?,?760-805 ($893-945) per tonne on August 18.Trading in Italy and Spain was seasonally low, with buyers and mills holding back from the ma...Read More
Prices for hot- and cold-rolled steel sheet and heavy plate in Russia's Central Federal District around Moscow continued to slide in the week ended Monday August 16, sources have told Fastmarkets.Market participants believed that the downward trend would continue until the end of October.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia,...Read More
Trading activity was close to zero in the European hot-rolled coil markets on Wednesday August 18, with buyers having mixed outlooks for September, when demand was expected to recover, sources have told Fastmarkets.Most of the region's buyers and producers have been holding back from trading so far during August, following traditional patterns of activity.Northern European buyers were already slow...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...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
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
Copper cathode premiums are rising in China, with positive arbitrage fueling imports after months of depressed demand. Premiums in the United States remain strong with the market eyeing the progress of the country's infrastructure bill through Congress.Arbitrage driving premiums in ShanghaiSoutheast Asia market weak on pandemic shutdownsUS premiums remain elevatedShanghai premiums continue to rise...Read More
A summary of BHP's financial results for the year ended June 30, as published on Tuesday August 17. Record free cash flow of $19.4 billion generated during 2021 financial year.Return on capital employed strengthened to 32.5%. Net debt at $4.1 billion on June 30. Final dividend of $2 per share, which brought BHP's returns to shareholders...Read More
Nearby spreads for some metals continued to be tight, while London Metal Exchange prices mostly decreased on the morning of Wednesday August 18 following the sell-off on Tuesday."The LME Index (LMEX) fell 1.2% [on Tuesday] alongside United States equity markets, which suffered the biggest decline in a month, as concerns intensified that the delta variant will weigh on growth," LME Desk analyst Ann...Read More