Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.Prices for prime scrap showed small gains, with the generation of such grades still limited by low output in the automotive sector, and demand remaining strong.Some sources reported that one scrap buyer was increasing its price f...Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
Import prices for HRS101-grade ferrous scrap into China were unchanged on Tuesday July 27 but steel production cuts dampened spot demand for the material, sources told Fastmarkets."The restrictions on crude steel production have reduced our demand for scrap to a minimum recently," a Chinese mill source based in Hebei province told Fastmarkets. "We will reduce our production rate starting next mont...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.Chinese equities under pressure again today - market worried about regulatory interventionPre-market western equity index futures showing a weaker start againBase metalsLME three-month b...Read More
US-based carmaker Ford is to open a new center to develop, test and build vehicle battery cells and cell arrays at Romulus, in the US state of Michigan, accelerating the company's research and development into future battery manufacturing, the company has said.The new center will be called Ford Ion Park and will be part of the company's renewed commitment to making Michigan a center for its focus...Read More
Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, which expects first saleable production in 2026, the company said.Jadar, currently one of the world's largest greenfield lithium projects, remains subject to receiving all relevant approvals, permits and licenses, plus ongoing engagement with local communities, the Serbian government and civil society.According to...Read More
Fastmarkets proposes to increase the frequency of two battery-grade seaborne Asian lithium prices to daily from weekly.This will affect the spot prices for battery-grade lithium carbonate and lithium hydroxide, both on a cif China, Japan & Korea basis.Following an initial consultation, Fastmarkets received feedback from market participants that more frequent assessments of spot market prices in th...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 27 that are worth another look.More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind...Read More
Domestic steel prices for hot-rolled sheet in Russia's Central Federal District around Moscow went down in the week to Monday July 26, while prices for cold-rolled sheet and steel plate were unchanged, sources told Fastmarkets.Prices were under pressure from low levels of purchasing activity because buyers were expecting further price reductions, the sources added.Customers thought that mills woul...Read More
Domestic prices for hot-rolled coil in Europe declined day on day on Tuesday July 27 due to a combination of weak demand and competitive import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,146.46 ($1,351.87) per tonne on Tuesday July 27, down by ?,?8.90 per tonne from ?,?1,155.36 per tonne on July 26.The i...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday July 26, mainly due to slow activity in the market and expectations of further price declines, sources told Fastmarkets.Market participants expected the downtrend to continue while the market reacts to the imposition of an export duty on steel products from Russia. This will be in effect from...Read More
The biggest steel producer of the United Arab Emirates, Emirates Steel, decreased its rebar price to 2,957 dirhams ($805) per tonne ex-works for orders to be produced in August, effective Tuesday, July 27.The company's previous rebar price, in effect from Sunday June 27, was 3,012 dirhams per tonne ex-works. UAE demand for steel rebar and billet was low during the week to July 27 because buyers w...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.Prices for prime scrap showed small gains, with the generation of such grades still limited by low output in the automotive sector, and demand remaining strong.Some sources reported that one scrap buyer was increasing its price f...Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
The biggest steel producer of the United Arab Emirates, Emirates Steel, decreased its rebar price to 2,957 dirhams ($805) per tonne ex-works for orders to be produced in August, effective Tuesday, July 27.The company's previous rebar price, in effect from Sunday June 27, was 3,012 dirhams per tonne ex-works. UAE demand for steel rebar and billet was low during the week to July 27 because buyers w...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.Global energy-related emissions must drop to 30% below 2019 levels by 2030, and to 75% below by 2040, to be on tr...Read More
Nickel producers are putting an increased focus on sustainability credentials in a bid to lock in consumer demand from the automotive industry, sources told Fastmarkets.Increased scrutiny from end consumers and government policy on lower carbon emissions throughout the supply chains have nickel producers looking to highlight sustainability to secure long-term deals. Most recently, internation...Read More