Iran's steel output will be negatively affected by severe power shortages that started in June and still remain an issue, market participants said.Iran Power Generation, Distribution & Transmission Co (Tavanir) ordered steel and cement production factories to reduce electricity consumption starting Tuesday July 6, local news provider Financial Tribune reported on July 7."Iranian mills are ins...Read More
Turkey's import and domestic billet prices have increased over the past week due to stronger demand, market participants told Fastmarkets on Thursday July 8.Suppliers in the Commonwealth of Independent States region have increased their offers to Turkey ahead of the introduction of Russia's export duty on August 1.The Russian government has approved temporary export duties on 340 steel and no...Read More
Demand for steel scrap imports into Bangladesh was being limited by the country's extended Covid-19-related lockdown, market participants told Fastmarkets on Thursday July 8.The strict lockdown, which has been extended until at least July 14, has led to a complete shutdown of the country's steel retail market and has led to an exodus of laborers from the capital city, Dhaka."They are not admitting...Read More
The price gap between higher and lower grades of steel scrap continued to widen in the Japan export market over the past week, sources told Fastmarkets on Thursday July 8.Rising demand for heavy scrap (HS) and Shindachi busheling, both from blast-furnace (BF) mills in Japan and buyers in South Korea, has continued to propel prices for these materials upward.On the other hand, limited demand for lo...Read More
Seaborne iron ore prices dropped across the board on Thursday July 8, due to a weakening demand outlook caused by the growing potential for steel production cuts in the second half of the year, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $218.04 per tonne, down $4.35 per tonne62% Fe low-alumina fines, cfr Qingdao: $222.00 per tonne, down $3.70 per tonne58% Fe fines high-gr...Read More
The upward momentum in China's steel scrap prices will be capped by the growing expectation that steel mills will be forced to cut production in the second half of 2021, sources told Fastmarkets on Thursday July 8.There has been increasing speculation among market participants over the past week that China is planning to control its annual steel output to keep it at the same level as 2020.Fueled b...Read More
Coking coal prices were largely stable on Thursday July 8, with sellers and buyers in China's cfr market assessing the potential impact of the government's desire to limit steel production.Fastmarkets indicesPremium hard coking coal, fob DBCT: $202.33 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $308 per tonne, down $0.35 per tonneHard coking coal, fob DBCT: $173.58 per ton...Read More
Fastmarkets proposes to launch two indices for cfr China ferrous scrap prices.It intends to change its cfr eastern China ferrous scrap price from an assessment to an index and to launch an additional cfr northern China ferrous scrap price index.Since February 2021, Fastmarkets has published a daily price assessment for steel scrap, heavy recycled steel materials, cfr China.Under this proposal, Fas...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
Domestic hot-rolled coil prices in China rose for the fourth day in a row on Thursday July 8, with futures prices steady after the recent rally, which was sparked by growing expectations that steelmakers will be forced to limit production in the second half of the year.DomesticEastern China (Shanghai): 5,700-5,770 yuan ($880-890) per tonne, up by 50 yuan from 5,650-5,720 yuan per tonne. The most-t...Read More
China's domestic rebar prices continued to rise on Thursday July 8 due to market participant concerns over lower supplies after the government called on mills to keep production below 2020 levels.DomesticEastern China (Shanghai): 5,020-5,050 yuan ($775-780) per tonne, up by 60 yuan per tonneMore steel mills were said to be reducing production over the next six months to ensure annual production is...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 grade,...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 grade, in-whs Rotterdam, $/lb at 24.00-24.95 on Thursday July 08, 2021.Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 7 that are worth another look.Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on July 7....Read More
Prices of most base metals rose slightly on the London Metal Exchange on Wednesday July 7 but with aluminium bucking the trend, going down by 1.2%.The LME three-month copper contract ended the trading session at $9,455 per tonne at 5pm, up by 1.5% from Tuesday.Investors in the red metal were dip-buying on Wednesday after its price dropped on Tuesday in a knee-jerk reaction to negative macro-econom...Read More
Premiums in the United States and Europe continued to rise in the week ending Tuesday July 6 with news that the Russian government will impose export duties continuing to fuel bullish sentiment.US Midwest at new all-time highRussian export tax pushes Rotterdam up againWait and see approach in AsiaUS Midwest premium sets new high againFastmarkets assessed the aluminium P1020A premium, ddp Midwest U...Read More
The strong ferro-chrome market in Asia and high consumption rates in Europe continued to support Europe's ferro-chrome markets in the week ending July 6.Indian ferro-chrome producers preferred to ramp up their offer prices into Europe rather than compete for sales, which supported prices.Fastmarkets' price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe r...Read More
Xinfa group's alumina refinery in Xiaoyi city, Shanxi province closed an operation line with a capacity of 1.2 million tonnes per year last week due to a bauxite shortage, several sources told Fastmarkets on Wednesday July 7.The refinery has a total capacity of 3.6 million tonnes and has run at full capacity since May.Xin'an Chemical alumina refinery, a subsidy of Hangzhou Jinjiang group located i...Read More
Prices in the China ferro-chrome market rose further during the week to Tuesday July 6, as a result of higher alloy tender prices being released and indications the market is tightening under electricity restrictions in key producing regions.Stainless steel producer Tsingshan Group raised its tender price for July-delivery high-carbon ferro-chrome by 950 yuan ($146.80) per tonne, or 12.76%, to 8,3...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 7 that are worth another look.Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on July 7....Read More