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
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
European buyers of hot-rolled coil have been in "wait-and-see" mode so domestic prices were fairly stable on Wednesday August 4, sources have told Fastmarkets.Sentiment in the market turned negative despite the seasonal slowdown, due to competitive import offers. Although the volumes available have not been significant, according to estimates by market participants, they will still affect sentimen...Read More
Benjamin Baptista will retire and leave his role as chief executive officer of ArcelorMittal's Brazilian unit on September 30 after 12 years, with current Latin America long steel CEO, Jefferson De Paula, to replace his role, Baptista said on Tuesday August 3.Baptista joined ArcelorMittal in 1983, when it was still called Companhia Sider??rgica de Tubar??o (CST). It was later bought by Arcelor, to...Read More
Century Aluminum is on track to complete the expansion at its Mount Holly smelter in Goose Creek, South Carolina, by the end of the year, allowing it to ramp up to 75% of its 229,000 tonnes annual production capacity.Second quarter 2021 ended June 30 in brief Century's adjusted earnings before income, tax, depreciation and amortization was $34.4 million, an increase of $54.1 million from the previ...Read More
A summary of the financial results for US-based aluminium producer Novelis in April-June 2021, the first quarter of its business year, released on Wednesday August 4.In brief Novelis' adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter were $555 million, up by 119% year-on-year. Net income attributable to its common shareholders was $240 million, up fro...Read More
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