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
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
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
Here are five Fastmarkets stories you might have missed on Wednesday August 4 that are worth another look.Novolipetsk Steel (NLMK), Russia's largest steelmaker, will increase output of hot-dipped galvanized (HDG) coil by starting up a new line at its Lipetsk site in the second half of 2022.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
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
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda...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
The United States copper premium continued to rise in the week to Wednesday August 4 and the Shanghai copper premium also rose due to a high import appetite despite arbitrage losses, sources told Fastmarkets.US copper premium range widens upwardFastmarkets adjusted its copper grade 1 cathode premium, ddp Midwest US to 8-9 cents per lb, the highest assessment in over a decade. This reflects a...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
Steelmakers in China are preparing to join the country's national carbon trading market by measuring their emission levels to secure carbon quotas that match their output.The China Iron & Steel Association has instructed member mills to submit their production and carbon emission details to it by August 14 to study the quota for every mill. The steel sector is among the next slew of major industri...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
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday August 4, and those on the Shanghai Futures Exchange were all weaker. While the metals have generally found good underlying support, overhead resistance does seem to be capping the upside, which is perhaps not surprising because we are in the middle of the summer lull.US equities focused on strong results, less on t...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
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
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 4Please click...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
Chilean copper production rose year on year by 2.32% in June 2021, spearheaded by an output increase by state-owned miner Codelco, national copper commission Cochilco said on Tuesday August 3.Chile produced 477,300 tonnes of copper during June, up from 466,500 tonnes a year before. But the volume was 2.03% lower than the 487,200 tonnes produced in May this year.June's output brought first-half cop...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda...Read More