Iron ore prices were largely rangebound on Wednesday July 14 despite activity on the trading platforms, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.66 per tonne, up by $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.00 per tonne, down by $1.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.41 per tonne, down by $0.25 per tonne65% Fe...Read More
Domestic prices for hot-rolled coil across Europe have remained high despite a slowdown in demand and competitive import offers, sources told Fastmarkets on Wednesday July 14.Buyers were reported to be largely inactive in the market due to the effect of the seasonal slowdown. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high price...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...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...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
South African manganese alloys producer Transalloys has declared force majeure after nationwide protests, triggered by the jailing of ex-president Jacob Zuma for failing to appear at a corruption inquiry last week, widened into riots and looting, disrupting its operations.The duration of the force majeure is unclear, with the restoration of full operations dependent on the end of disruptions cause...Read More
The recent decline in prices of deep-sea ferrous scrap exports from North America to Turkey is expected to continue - and to extend throughout the global scrap markets with the onset of the traditional summer shutdown period, sources told Fastmarkets."The downturn we are seeing in current prices is typical of a seasonal market. We see Turkey sales down more; Asian sales [will likely be] down a lit...Read More
Steel H-beam prices in Europe increased on Wednesday July 14 after mills raised their offer prices because they have full order books, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,050-1,080 ($1,242-1,277) per tonne on July 14, widening upward by ?,?10 per tonne from ?,?1,050-1,070 per tonne on July 7."The mills ha...Read More
The global push to decarbonize the steel industry means innovation is becoming increasingly important, according to speakers at the Singapore Steel Forum 2021 on Wednesday July 14.While sharing his outlook for the steel industry in Japan, the principal of JFE Steel's Overseas Business Planning Department, Kazuo Mike Fujisawa, said that "in the context of decarbonization, innovation is becoming cri...Read More
China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...Read More
Hot-rolled coil prices in the United States crossed the $91-per-hundredweight ($1,820-per-short-ton) barrier for the first time on Wednesday July 14, reaching an all-time high since Fastmarkets started assessing the market in 1960.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.33 per cwt ($1,826.60 per ton) on July 14, an increase of 1.55% from $89.94 per cwt on...Read More
Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.In addition to retaining a minority...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
Coking coal market in China stayed largely stable on Wednesday July 14 despite a few buying interests from end users in south China. There are also new buying activities for Australia coking coal loaded in November, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.03 per tonne, down $0.24 per tonnePremium hard coking coal, cfr Jingtang: $308.32 per tonne, up $0.34 pe...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.U.S. economic news to be released at 8:30 AM EDT and 9:15 AM EDT is expected to show extensions of recent advances. July Empire State Manufacturing Survey to be released at 8:30 AM EDT is expected to increase to 18.50 from 17.40 in June. July Philly Fed Index to be released at 8:30 AM ED...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...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
Domestic prices for cold-rolled coil in Europe have remained high despite competitive import offers to the region in the week to Wednesday July 14, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, import, cfr main port Northern Europe, was ?,?1,150-1,200 ($1,360-1,419) per tonne on July 14, down by ?,?50 per tonne week on week from ?,?1,200-1,250 per tonne.The assessmen...Read More
China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More