The inter-merchant light iron scrap market in the United Kingdom was up ?5 ($6.92) per tonne in the week to Friday July 16 amid firm fundamentals, with some sources suggesting the market may consolidate higher in the near term while others say a correction may be likely due to the steel summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old li...Read More
Several steelmakers in China stopped issuing export offers this week, while others sharply increased their offer prices to overseas buyers, suggesting that the Chinese government's desire to see production cuts is starting to have an impact.Steel mills, including Shandong Iron & Steel and Yingkou Medium Plate Co, have issued no export offers this week, with limited availability forcing them to pri...Read More
Activity in the EU hot-rolled coil market has been limited on Friday July 16 due to buyers and sellers both being in wait-and-see mode, sources told Fastmarkets.Buyers have been holding back from acquiring material due to a seasonal slowdown and uncertainty about the price trend. Domestic prices have remained high despite a slight correction lower while buyers, who have sufficient stocks for...Read More
Prices for cold-rolled and galvanized steel sheet climbed to new records, with cold roll catapulting above the $100-per-hundredweight ($2,000-per-short-ton) milestone for the first time ever.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US jumped to $101 per cwt ($2,020 per ton) on Thursday July 15 from $98.50 per cwt ($1,970 per ton) on July 8. The assessment has now g...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
Some Chinese mills are seeking alternative scrap import suppliers because of expensive offers for Japanese heavy scrap (HS), sources said on Friday July 16.Bids were heard at $535 per tonne cfr northern China on July 16, which would be equivalent to $525 per tonne cfr eastern China, and no new offers were heard on July 16. Prior to that, the latest to come in was on July 14 at $580-590 per tonne c...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
Hot-rolled coil prices across China's domestic market edged lower on Friday July 16, while futures prices dropped to a one-week low following Beijing's fresh pledge to ensure stable supply and prices for commodities.DomesticEastern China (Shanghai): 5,860-5,900 yuan ($906-913) per tonne, narrowing downward by 20 yuan per tonneNorthern China (Tangshan): 5,710-5,720 yuan per tonne, up by 100-210 yua...Read More
Italian domestic steel scrap prices increased in the month to Friday July 16 on support from short supply of the material, particularly of "new scrap" grades, sources told Fastmarkets.Supplies of new scrap, including E8-grade, were short due to low automotive production caused by a shortage of computer chips used in cars, sources said. Car manufacturers are the main suppliers of E8-grade scrap mat...Read More
A new Brazilian regulation means that steel slab producer Companhia Sider??rgica do Pec?(C)m (CSP) can increase sales of steel to the Brazilian domestic market, according to a ruling published on Thursday July 15.CSP, a joint venture between Vale (50%), Dongkuk (30%) and Posco (20%), is located in an export processing zone in Brazil's northeastern state of Cear??. As a result, it benefits from cer...Read More
The price of cold-rolled stainless steel in Europe increased during the week to Friday July 16 amid a shortage of material, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered north Europe was ?,?3,800-3,850 ($4,292-4,551) per tonne on Friday, up by...Read More
Iron ore prices increased on Thursday July 15, supported by falling steel inventories in China, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $222.09 per tonne, up $3.43 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.75 per tonne, up $3.75 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.06 per tonne, up $3.65 per tonne65% Fe Brazil-origin fines,...Read More
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
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More
First Cobalt has held preliminary discussions with Canadian government officials on the creation of a lithium-ion battery park on the same site as its battery materials hydrometallurgical refinery north of Toronto, the company said.The goal is to attract a precursor manufacturer to the site to recycle black mass from spent lithium-ion batteries, recovering nickel and cobalt in the process, it note...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
First Cobalt has held preliminary discussions with Canadian government officials on the creation of a lithium-ion battery park on the same site as its battery materials hydrometallurgical refinery north of Toronto, the company said.The goal is to attract a precursor manufacturer to the site to recycle black mass from spent lithium-ion batteries, recovering nickel and cobalt in the process, it note...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More
Steel reinforcing bar prices in the United States increased on Wednesday July 14 for the first time since June 16. Fastmarkets' assessment for steel rebar, fob mill US was $49 per hundredweight ($980 per short ton) on Wednesday, up 2.08% from $48 per cwt the previous week and up 70.44% from $28.75 per cwt at the same time last year.US marketNucor Corp and Mid-Continent Steel and Wire each increase...Read More
The European hot-rolled coil market remained quiet on Thursday July 15 on seasonally slow trading, with prices largely unchanged, supported by strong order books at steel mills and long lead times, sources told Fastmarkets.European buyers were still abstaining from making large bookings due to the still-high prices and sufficient stocks at most distributors. Exhausted credit lines were also limiti...Read More