A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to June 30, 2021.In brief"Local rebar consumption reached 3.36 million tonnes in the first half of 2021, an increase of 2% over the first half of 2020," the company said in a release to the London Stock Exchange on Monday August 9."However, consumption in...Read More
Active sales of flat-rolled steel late in July and early in August have led to exporters from the Commonwealth of Independent States (CIS) trying to stabilize prices after their steady decline since May.Fastmarkets' weekly assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $920-930 per tonne on Monday, up from $915-925 per tonne a week earlier.The price bottomed out this year...Read More
Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on Tuesday August 10.Thyssenkrupp declared force majeure on July 16 because it was not able to ship feedstock steel products between the...Read More
The persistent logistics disruptions brought about by the Covid-19 pandemic have forced traders and buyers to rearrange their supply chains, and to change packaging and delivery destinations, while the continuing container crisis has pushed the US freight regulator to investigate the situation.The commodity world is facing logistics problems arising from the global container shortage. Additional p...Read More
Mixed signals have emerged over the next direction for the US Midwest ferrous scrap market, but sources seem fairly certain that No1 busheling could face its first downward correction since August 2020 in the next round of trading.September's outlook is murky. Some feel shredded scrap could hold up due to strong demand, while others disagree; and while there is consensus that prime scrap could dro...Read More
Ferrous scrap prices in Mexico were stable or down in the week ended Friday August 6, with some buyers succeeding in applying price cuts for obsolete grades.In Mexico's central Baj?-o region, at least two buyers were announcing a price reduction of 200 pesos ($10) on all grades.While price decreases were possible for obsolete grades, market participants did not see one for No1 busheling."The...Read More
Turkish steel mills booked no new cargoes on Tuesday August 10, keeping prices stable, but older cargoes have been reported, sources told Fastmarkets.Despite a lack of new bookings on Tuesday, cargoes booked the previous week were reported by the market.A United Kingdom booking comprised of 25,000 tonnes of HMS 1&2 (80:20) at $460 per tonne cfr was traded late in the week to August 6....Read More
Russia's Metalloinvest is investing 2 billion roubles ($27.18 million) in increasing iron ore pellet output at its Oskol Electrometallurgical Plant (OEMK) in Russia's Central Federal District. The company will reconstruct its pelletizing plant at OEMK, replacing the existing equipment and adding a sixth pelletizing line. It expects the work to be complete in the fourth quarter of 2022.The changes...Read More
Iron ore prices fell significantly on Tuesday August 10 due to continuing weak demand, with production cuts and pollution-control measures in China's Tangshan city, in preparation for February's 2022 Winter Olympics, further depressing market sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.44 per tonne, down $10.07 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.75 per...Read More
Seaborne coking coal prices in China rose on Tuesday August 10, reflecting the strength in domestic coking coal prices where supply remains tight.The fob coking coal market stayed largely stable on the same day because major buyers adopted a wait-and-see approach in light of high offers, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $333.75 per tonne, up by $4.16 p...Read More
Vietnamese steelmakers are planning to return to importing deep sea cargoes after limited recent buying activity in the country, sources told Fastmarkets on Tuesday August 10. Vietnamese buyers are looking closely at deep-sea cargoesMajor Chinese steel mills lower domestic scrap purchase prices for the second time in five daysTaiwan secures containerized scrap at lower pricesVietnamBuyers are seek...Read More
China's customs will no longer accept port transfer applications during inspections of imported recycled steel raw materials, according to an official statement on Monday August 9.The recently implemented "Regulations for the Inspection of Imported Recycled Steel Raw Materials" details the inspection requirements for imported recycled steel raw materials.It specifies the place of inspection for th...Read More
Prices of hot-rolled coil in China's domestic market rose on Tuesday August 10, reflecting growing expectations that output will drop following the release of Tangshan's new production curb plan to ensure good air quality for the forthcoming Winter Olympics in Beijing.DomesticEastern China (Shanghai): 5,760-5,820 yuan ($889-898) per tonne, up by 40 yuan per tonneTangshan, China's main steelmaking...Read More
Rebar futures on the Shanghai Futures Exchange increased on Tuesday August 10 and spot prices quickly followed suit, with production cuts widely expected for the rest of 2021, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($802-807) per tonne, up by 10-20 yuan per tonneAccording to a report by a local information provider on Monday, Hebei province plans to cut 21.71 m...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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 standard grade, in-whs Rotterdam, $/lb at 24.25-25.00 on...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 assessed Cobalt alloy grade, in-whs Rotterdam,...Read More
The silicon price has been on an upward trend since 2021 and has now hit an all-time high.Fastmarkets' assessment of the price for silicon export 98.5% Si min, fob China rose to $2,350-2,450 per tonne on August 6, up by 10.4% from $2,150-2,200 per tonne on July 30. The rainy season in southern China usually signals the start of a downtrend in the Chinese silicon price because of rising...Read More
Base metals prices on the London Metal Exchange were up across the board this morning, Tuesday August 10, this after a day of weakness on Monday - once again it looks like dips are being seen as a buying opportunity.Markets focused on when central bank will start to tighten monetary policy, and to what degree will the Delta variant of Covid-19 will slow the reflation trade Base metalsLME three-mon...Read More
Increased offer prices for silico-manganese in India in the week to August 10 may stop the downward trend in the Indian silico-manganese export market, sources told Fastmarkets.Offer prices for domestic silico-manganese (60% Mn min/min 14% Si) increased to 95,000-96,000 rupees ($1,278-1,292) per tonne on Friday, from 93,000-94,000 rupees at the start of August, against renewed demand from Indian s...Read More