Turkish prices for various flat steel products moved both upward and downward during June, with the future for the prices seeming to be unsure because of the broader global market uncertainty, sources told Fastmarkets on Thursday July 1.The main reasons for this were that the traditionally slow summer season has started in most countries, China has not yet announced the rate for its planned export...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Global recycling company TES plans to build its first lithium-ion battery recycling plant at the Port of Rotterdam in the Netherlands, according to a joint statement made on Monday July 5.The new plant will have capacity for 10,000 tonnes per year, and will be the first of its kind in the European country, TES and the port authority said in the announcement. It should be fully operational by late...Read More
China's domestic rebar prices continued their upward trend on Tuesday July 6 on restocking demand, but end user demand soured, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($767-771) per tonne, up by 80 yuan per tonneTrading houses raised their procurement rates on Monday to build up inventories in anticipation of lower production in the second half of 2021.The...Read More
China imported 879,965 tonnes of steel billet in May, up by 77% from 497,588 tonnes in May 2020, according to customs data.Indonesia remained the biggest supplier of billet to China in that month at 260,642 tonnes. Slab import volume of 72,480 tonnes was down by 67% year on year. Vietnam accounted for 57% - 41,510 tonnes - of...Read More
Gerald Group's subsidiary SL Mining resumed loading iron ore for export in the Port of Freetown, Sierra Leone, West Africa, on Sunday July 4 2021, the London-based metals trader said this week.The company's first exports since June 2019, the "Marampa Blue" brand iron ore concentrate being shipped is more than 65% iron content and the unspecified volumes being transported will be taken from SL Mini...Read More
Activity in the European hot-rolled coil market has been limited because buyers are refraining from making new deals to assess price trends and mills are holding back from trading on good order books, sources told Fastmarkets on Tuesday July 6.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,146.25 ($1,359.80) per tonne on Tuesday July 6, down by...Read More
The United States' steel import licenses climbed in June to the highest level since January 2020, according to government figures.The US was licensed to import 2.66 million tonnes of steel in June, up 16.01% from 2.29 million tonnes in May, according to data from the US International Trade Administration's steel import monitoring system. Import licenses were up 108.27% from 1.28 million tonnes in...Read More
The Zakat, Tax & Customs Authority in Saudi Arabia has decreed that all imports into the country will be subject to import duty, whether they come from free-trade zones or other member-states of the Gulf Co-operation Council (GCC).GCC countries normally have duty-free trade between each other. They are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.The Saudi Arabian decree...Read More
The Turkish steel producers continued to hold back from the deep-sea scrap import markets on the second working day of the week due to limited demand for finished long steel products, market participants told Fastmarkets on Tuesday July 6.The mills in the country booked four deep-sea cargoes last week, three of which were booked by a single steel mill.The most recent deal was concluded at $495 per...Read More
Iron ore prices largely edged up on Tuesday July 6 following the steel price increase, while market chatter on the crude steel production cut and authorities' focus on curbing the commodity price surge weighed on the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $222.36 per tonne, up $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $226.02 per tonne,...Read More
Buyers' activity in the steel scrap import market remained low on Tuesday July 6 despite rising contracts for rebar and hot-rolled coil on the Shanghai Futures Exchange."Market chatter on mills cutting production has turned the finished steel markets bullish, so raw materials [markets] followed. This is why rebar and HRC rose higher than iron ore in the futures market today," a Zhejiang-based trad...Read More
Chinese buyers have followed the rise in the country's ferrous futures markets this week with fresh bookings for imports of steel billet, sources told Fastmarkets on Tuesday July 6.Tuesday's most-traded October rebar futures contract closed at 5,304 yuan ($820) per tonne on Tuesday, up by 82 yuan per tonne from a day earlier. That followed Monday's most-traded rebar futures contract closing at 5,2...Read More
Steel rebar and billet prices in the United Arab Emirates decreased during the week to Tuesday July 6 due to a global slowdown, sources told Fastmarkets.Global demand for long steel is moderate to weak, and prices are no longer increasing in Turkey, a key exporter of rebar.Emirates Steel, the biggest producer in the UAE, decreased its official rebar price by 55 dirhams ($14.97) per tonne to 3,012...Read More
China imported 879,965 tonnes of steel billet in May, up by 77% from 497,588 tonnes in May 2020, according to customs data.Indonesia remained the biggest supplier of billet to China in that month at 260,642 tonnes. Slab import volume of 72,480 tonnes was down by 67% year on year. Vietnam accounted for 57% - 41,510 tonnes - of...Read More
Steel rebar and billet prices in the United Arab Emirates decreased during the week to Tuesday July 6 due to a global slowdown, sources told Fastmarkets.Global demand for long steel is moderate to weak, and prices are no longer increasing in Turkey, a key exporter of rebar.Emirates Steel, the biggest producer in the UAE, decreased its official rebar price by 55 dirhams ($14.97) per tonne to 3,012...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Hot-rolled coil import prices into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday July 6 because of globally weakening prices, as well as the upcoming Eid al-Adha religious holiday, sources have told Fastmarkets.The Eid al-Adha holiday was expected to start in about two weeks' time, and some buyers were postponing their bookings until after that, sources said.HRC...Read More
Copper prices fell by 2.1% on the London Metal Exchange during trading on Tuesday July 6, on a strengthening of the US dollar and market caution at the start of the new trading month.The three-month copper price fell by almost $200 per tonne on Tuesday to $9,312 per tonne, despite reaching an intra-day high of $9,632.50 per tonne. This was a 2.1% decrease from Monday's 5pm close of $9,511 per tonn...Read More
Steel rebar and billet prices in the United Arab Emirates decreased during the week to Tuesday July 6 due to a global slowdown, sources told Fastmarkets.Global demand for long steel is moderate to weak, and prices are no longer increasing in Turkey, a key exporter of rebar.Emirates Steel, the biggest producer in the UAE, decreased its official rebar price by 55 dirhams ($14.97) per tonne to 3,012...Read More