Steel rebar prices in northern Europe edged up in the week to Wednesday July 21 despite a seasonal slowdown in buying activity, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?890-930 ($1,049-1,096) per tonne on July 21, up from ?,?880-930 per tonne. This marks its highest level since Fastmarkets start...Read More
The Turkish deep-sea scrap market reported no new trading activity on Wednesday July 21, because of the week-long Eid al-Adha public holiday.Turkish steel mils have not booked any new scrap material since July 13.The country is currently off work for the week-long religious holiday of...Read More
Iron ore prices fell on Wednesday July 21 due to steel production cuts in some Chinese provinces for the second half of 2021, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $214.79 per tonne,down $6.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $216.17 per tonne,down $6.85 per tonne58% Fe fines high-grade premium, cfr Qingdao: $176.44 per tonne,down $5.83 per tonne65% Fe...Read More
Iranian steel billet export prices continued to rise in the second half of July on improving demand from China, but availability is being constrained by a slowdown in steel production caused by electricity shortages, sources told Fastmarkets on Wednesday July 21.Extreme heat and drought conditions, combined with industrial growth and high energy-use cryptocurrency mining were cited as the reasons...Read More
China's domestic rebar prices picked up slightly on Wednesday July 21 following major mills raising ex works prices.DomesticEastern China (Shanghai): 5,230-5,250 yuan ($808-811) per tonne, up by 10 yuan per tonneEastern China major rebar producer, Shagang, raised their ex works price by 250 yuan per tonne to 5,550 yuan...Read More
Domestic prices for ferro-chrome in the spot market in China surged in the week ended Tuesday July 20 following production cuts in the province of Inner Mongolia.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, jumped by 17.3% to 10,000-10,300 yuan ($1,541-1,587) per tonne on Tuesday, from 8,500-8,800 yuan per tonne one week earlier, and was now at its highest...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday July 21.Key drivers The ferro-titanium price range widened higher in the week to July 21 on new deals against renewed demand from buyers ahead of new export duties from Russia which begin on August 31. The major consumers in the steel sector, however, have yet to emerge for longer term contracted deliveries and one steelmaker said t...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday July 21 following a summer slowdown in the market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,656-1,691) per tonne on July 21, unchanged week on week."Prices are stable, the market is slowing down now for three to four weeks," a d...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 21 that are worth another look.Flat steel sales from Brazilian distributors increased by 3.3% year on year in June; volumes began to stabilize after strong growth in the first half of 2021, flat steel distributors...Read More
The Northern European market for steel wire rod was quiet in the week to Wednesday July 21, with prices being broadly flat, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?890-915 ($1,049-1,078) per tonne on Wednesday, the same as last week.The assessment was based on deals, offers and market participants'...Read More
Domestic prices for heavy steel plate in Italy declined slightly in the week to Wednesday July 21 due to lower slab costs and mills' needs to book more orders, sources told Fastmarkets.Competitive import offers have also contributed to the softening of domestic prices.Southern EuropeOfficial offers for plate from Italian re-rollers have been heard at ?,?980-1,000 ($1,155-1,178) per tonne ex-works....Read More
Base metals prices on the London Metal Exchange were broadly stable on Wednesday July 21, with minimal reaction to China's announcement to sell more state reserve metal during the day. The three-month zinc price closed 1.1% lower than the previous day at $2,929 per tonne, while the three-month aluminium price was down 0.5% to close at $2,453.5 per tonne from a day ago,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 21 that are worth another look.Flat steel sales from Brazilian distributors increased by 3.3% year on year in June; volumes began to stabilize after strong growth in the first half of 2021, flat steel distributors...Read More
Base metals prices on the London Metal Exchange were broadly stable on Wednesday July 21, with minimal reaction to China's announcement to sell more state reserve metal during the day. The three-month zinc price closed 1.1% lower than the previous day at $2,929 per tonne, while the three-month aluminium price was down 0.5% to close at $2,453.5 per tonne from a day ago,...Read More
Iron ore prices fell on Wednesday July 21 due to steel production cuts in some Chinese provinces for the second half of 2021, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $214.79 per tonne,down $6.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $216.17 per tonne,down $6.85 per tonne58% Fe fines high-grade premium, cfr Qingdao: $176.44 per tonne,down $5.83 per tonne65% Fe...Read More
Seaborne coking coal prices stayed large stable in both the cfr and fob market on Wednesday July 21 because buying interest is weak facing the elevated offers, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $211.08 per tonne, down $0.19 per tonnePremium hard coking coal, cfr Jingtang: $309.31 per tonne, up $0.20 per tonne Hard coking coal, fob DBCT: $178.42 pe...Read More
The Turkish deep-sea scrap market reported no new trading activity on Wednesday July 21, because of the week-long Eid al-Adha public holiday.Turkish steel mils have not booked any new scrap material since July 13.The country is currently off work for the week-long religious holiday of...Read More
Steel rebar prices in northern Europe edged up in the week to Wednesday July 21 despite a seasonal slowdown in buying activity, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?890-930 ($1,049-1,096) per tonne on July 21, up from ?,?880-930 per tonne. This marks its highest level since Fastmarkets start...Read More
China's electricity system is particularly stretched this summer, so aluminium, zinc and lead smelters have received repeated notices for several weeks that they should restrict power use, and many are not still seeing an end to the situation, Fastmarkets has learnt."Power consumption limits will be a recurring issue for Chinese smelters, [and] not only for summer. [They are] likely to be extended...Read More
Dwindling spot supply of rounded forms of nickel in the United States sent the US briquette premium to an all-time high in Fastmarkets' assessments. Fastmarkets began assessments by shape, rather than grade, in March 2018.Strong global briquette demand, reduced spot supply to the US, and "spiraling" ocean freight costs are all boosting premiums for the form, now said to barely be found in th...Read More