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
Prices for steel scrap in Mexico continued to rise this week, with supply remaining tight and demand for steel products positive.Mexican scrap buyers accepted price increases during the week ended Friday July 9 in order to secure supply, and some market participants expect more increases to come this week.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Mon...Read More
ArcelorMittal has announced that its Sestao plant in Spain will become a full-scale zero carbon-emissions steel plant through the use of green hydrogen and renewable electricity as part of a ?,?50 million ($59 million) investment.The elimination of scope 1 and 2 emissions under the Greenhouse Gas Protocol will be done by changing the metallic input via increasing the proportion of recycled scrap,...Read More
Turkish steel producers managed to secure lower prices from United States suppliers after continuing their deep-sea bookings at a slow pace, market sources said on Tuesday July 13. A steel mill in the Marmara region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $485 per tonne, 20,000 tonnes of shredded and 3,000 tonnes of bonus at $500 per tonne cfr late on Monday July 12....Read More
The anchor event for Singapore International Ferrous Week (SIFW) was the Singapore Iron Ore Forum, and this offered an in-depth agenda which addressed the industry's most pressing issues, unparalleled insights into global trends shaping the iron ore sector after Covid-19, and compelling speakers who delivered fresh perspectives.In the panel discussion on Tuesday July 13 titled "Diversifying China'...Read More
Global demand for steel is growing, and major iron ore producers have made plans to increase their output capacity to keep up. Major miners were represented at a panel discussion during the Singapore International Ferrous Week 2021 on Tuesday July 13 to discuss the outlook for supply and demand.Supply outlookBHP has achieved record production of iron ore in the first nine months of its current fin...Read More
Iron ore prices largely went up on Tuesday July 13 after China's June imports data was released and with relatively low shipments from Australia.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.48 per tonne, up by $0.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $221.46 per tonne, up by $0.86 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.66 per tonne, down by $2.73 pe...Read More
Seaborne coking coal prices stayed large stable in both the cfr and fob markets on Tuesday July 13 because buying interest was weak in the face of elevated offer prices, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.27 per tonne, down by $0.26 per tonnePremium hard coking coal, cfr Jingtang: $307.98 per tonne, down by $0.82 per tonneHard coking coal, f...Read More
Hot-rolled coil prices in China's domestic market slipped on Tuesday July 13, with futures prices sideways while market participants weighed Beijing's latest easing measure against the ongoing seasonal demand lull.DomesticEastern China (Shanghai): 5,780-5,820 yuan ($894-900) per tonne, narrowing downward by 30 yuan per tonneThe most-actively traded HRC contract on the Shanghai Futures Exchang...Read More
China's domestic rebar prices decreased on Tuesday July 13 amid weak demand caused by unfavorable weather.DomesticEastern China (Shanghai): 5,080-5,100 yuan ($784-787) per tonne, down by 70-100 yuan per tonneHigh temperatures in eastern and southern China and heavy rain in northern China disrupted construction activity and sapped demand for rebar.Such adverse weather...Read More
Tin set a new year-to-date high on the London Metal Exchange on the morning of Tuesday June 13, while the rest of the complex edged upwards too, with macroeconomic factors and a new wave of Covid-19 hitting metal-producing countries supporting higher prices.Tin reached $32,285 per tonne during early trading, before trimming back to $32,135 per tonne at 9am, but still higher than Monday's closing p...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.Fastmarkets assessed Cobalt standard...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 alloy...Read More
The manganese flake price has been on the rise since May 2021 due to tight availability in the spot market and strong demand from both the steel industry and the renewable energy automobile industry, sources told Fastmarkets.Fastmarkets' price assessment for 99.7% electrolytic manganese flake basis, fob, China rose to $2,800-2,850 per tonne on July 9, up by 3.70% from $2,700-2,750 per tonne o...Read More
Chinese automobile production and sales continued to decline in June - both month on month and year on year - amid a sustained global shortage of semiconductors, the China Association of Automobile Manufacturers (CAAM) said last week.But the new energy vehicle (NEV) segment continued to strengthen last month, with sales notching a new record high.China's NEV output increased by 14.3% from May to 2...Read More
Stainless steel sheet prices in the United States rose in June due to rising surcharges and increasingly tight supply.Fastmarkets' monthly price assessment for stainless steel 304 cold-rolled sheet, fob mill US was $171.75 per hundredweight ($3,435 per short ton) on Monday July 12, up 2.08% from $168.25 per cwt on June 10 and up 7.34% from $160 per cwt on May 10.The assessment for stainless s...Read More
Increasing scrap usage was deemed to be a key step the road map of decarbonization of Chinese steel industry, Li Xinchuang, the Vice Chairman of China Iron & Steel Association (Cisa) said on Tuesday July 13."It is important that we increase supply of scrap in the local market. We expect the share of electric-arc furnaces (EAFs) in Chinese steelmaking to increase from 10% to more than 15% in 2025,"...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Wednesday July 14, after stronger-than-expected inflation data from the United States on Tuesday raised concerns.* US consumer price index (CPI) climbed by 0.9% month on month in June, after a 0.6% rise in May* US 10-year treasury yields rebound to 1.4%, after a low of 1.25% last...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Index futures were quiet prior to testimony by Federal Reserve Chairman Powell before the House Financial Committee this morning.Index futures moved higher following release the U.S. June Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 0.7% in May....Read More
Here are five Fastmarkets stories you might have missed on Monday July 12 that are worth another look.A group of Brazilian construction and real estate companies received a 20,000-tonne shipment of rebar from Turkey last week, national construction industry chamber CBIC said.The waiting time...Read More