While 300-series stainless scrap prices in the United States continued to inch higher on strong nickel prices, a correction in the domestic ferrous scrap market has limited growth for 400-series prices, and participants indicated the stainless scrap market could be nearing a peak."The market for stainless scrap in the USA is overblown. The largest processors have seemingly been in a battle for mar...Read More
Global commodities producer BHP's nickel sulfate plant in Australia is nearing completion and is now at the commissioning stage, BHP Nickel West asset president Eduard Haegel said on Tuesday August 3.Haegel was speaking to the Diggers and Dealers Mining Conference in Kalgoorlie, Western Australia.The plant at the Kwinana nickel refinery in Western Australia has begun production, Haegel said. Tanka...Read More
The aerospace industry is on pace for a full recovery in the next three years, with demand already rebounding in the second half of 2021 compared with Covid-19 pandemic-related lows, according to Arconic's top executive."While [aerospace] remains the biggest question mark in our portfolio, we believe that question really just boils down to timing. We fully expect the industry to return to pre-pand...Read More
Latin American steel group Ternium expects prices to remain steady in North America, despite the increase in capacity coming into the market.New projects coming onstream are expected to add around 5-6 million tonnes of flat steel capacity in the region, according to the company's estimates. But such an increase is not expected to bring prices down. "I don't see this as a driver of huge oversupply,...Read More
Brazil-based steelmaker Gerdau is investing in new flat-rolled and long steel rolling capacity at its Ouro Branco integrated mill in the country's southeastern state of Minas Gerais, chief executive officer Gustavo Werneck told journalists in a conference call on Wednesday August 4.The company will increase its capacity for hot-rolled coil (HRC) by 250,000 tonnes per year, to 1.1 million tpy, and...Read More
Novolipetsk Steel (NLMK), Russia's largest steelmaker, will increase output of hot-dip galvanized (HDG) coil by starting up a new line at its Lipetsk site in the second half of 2022.Capacity of the new line is 450,000 tonnes per year. Once the line is commissioned, NLMK's HDG capacity will increase by 36% to 1.7 million tpy.Read More
Domestic prices for cold-rolled coil in Europe declined in the week to Wednesday August 4 due to increased availability and lower import offers, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe was ?,?1,270-1,310 per tonne on August 4, down by ?,?30-40 per tonne from ?,?1,300-1,350 per tonne ex-works a week earlier.The corresponding we...Read More
Prices for steel hollow sections in Europe were unchanged on Wednesday August 4 due to the market heading into a seasonally slower period, sources told Fastmarkets.Fastmarkets' assessment of steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,662-1,698) per tonne on Wednesday, unchanged week on week."Prices remain above ?,?1,400 per tonne and will stay there until S...Read More
Domestic steel wire rod prices in the south of Europe were broadly flat in the week to Wednesday August 4 despite seasonally slow buying and the availability of cheaper imports, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was unchanged at ?,?830-850 ($985-1,009) per tonne on August 4.ItalyThe Italian market wa...Read More
A Turkish mill has bought a deep-sea ferrous scrap cargo from the United States, the third reported so far this week, at a price comparable to the two previous US sales to the region.An East Coast exporter sold a 31,000-tonne cargo - comprising 15,000 tonnes of an 80:20 mix of No1 and No1 heavy melting scrap priced at $464 per tonne cfr, 14,000 tonnes of shredded scrap and 2,000 tonnes of plate an...Read More
Turkish steel producers continued to book deep-sea scrap cargoes for September shipments at stable prices on Wednesday August 4, market participants told Fastmarkets.A steel mill in the Izmir region booked a United States cargo comprising 15,000 tonnes of heavy melting scrap 1&2 (80:20) at $464 per tonne, and 14,000 tonnes of shredded and 2,000 tonnes of plate and structural (P&S) at $479 per tonn...Read More
A rebound in Chinese ferrous futures prices on Wednesday August 4 has led to increased interest in booking seaborne steel billet cargoes in China, sources told Fastmarkets.Sharp drops in ferrous futures on both Monday and Tuesday sapped sentiment from the Chinese market, with buyer indications heard as low as $660 per tonne cfr China for 3sp billet on Tuesday.This was down sharply from the la...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Steel scrap import prices in South Korea were likely to drop again in the next few days with buyers looking to take advantage of tepid local demand in Japan and falling prices in other key Asian import markets, sources told Fastmarkets on Wednesday August 4.South Korea likely to push Japan prices down furtherProduction curbs weigh on Chinese scrap demandOffers for bulk cargoes to Vietnam fallTaiwa...Read More
Iron ore prices eased on Wednesday August 4 amid pollution control measures being implemented in Tangshan city between August 4-9, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $183.69 per tonne, down $0.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $184.39 per tonne, down $1.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $147.91 per tonne, down $1.09 per ton...Read More
Seaborne coking coal prices increased in the fob Australia and cfr China markets on Wednesday August 4. New buying interest for Australian August-laycan cargoes increased in the fob Australia market while strong offers for United States-origin coking coal in the cfr China market scaled back buying, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $215.51 per tonne, up $0.84 per...Read More
London Metal Exchange prices were under pressure for the second day in a row at the close on Wednesday August 4, in a trading session which had the lowest volumes since mid-July for many metals.Nickel's three-month price was down to $19,243 per tonne - a fall of $145, or 0.7% - from Tuesday's closing price. Its volumes, at 6,450 lots traded by 5pm, were at their lowest since July 21. The news...Read More
Chinese downstream fabricators actively bid for discounted zinc during the second round of state auctions, with the 50,000 tonnes of zinc almost sold out on Thursday on July 30, sources said.The discount stands at around 1,500 yuan - including shipment fee calculation - and has considerably catalyzed the sell-off, sources added. Winning bids from zinc fabricators ranged from 19,000-21,000 yua...Read More
China's domestic rebar prices recovered some losses on Wednesday August 4 on traders' replenishing their inventories, but end-user demand remained weak. DomesticEastern China (Shanghai): 5,200-5,240 yuan ($804-810) per tonne, up by 70 yuan per tonneRebar futures picked up during the day on expectations among market participants that steel production cuts will continue over the remainder of this ye...Read More
Prices of hot-rolled coil prices in China's domestic market rose on Wednesday August 4, after two consecutive days of sharp losses. Market participants have seemingly shrugged off fears of an easing in the country's plan of steel production curbs, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,760-5,820 yuan ($891-900) per tonne, up by 70-100 yuan per tonneSpot prices have regained m...Read More