Domestic steel wire rod prices in the south of Europe remained largely flat in the week to Wednesday July 7, with buyers reluctant to accept higher prices and postponing purchases, sources told Fastmarkets.Prices are not expected to fall in the short term, sources said, because supplies are still tight and feedstock costs continue to rise.Fastmarkets' weekly price assessment for steel wire rod (me...Read More
Iron ore prices were generally flat on Wednesday July 7 in the physical market with limited liquidity, while futures prices were driven up by bullish steel prices, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $222.39 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $225.70 per tonne,down $0.32 per tonne58% Fe fines high-grade premium, cfr Qingdao: $185.69...Read More
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 Wednesday July 7.The figure was lower month on month, however, and supply disruptions have led Anfavea to reduce its estimate for the sector's full-year 2021 performance.Vehicle...Read More
Prices rose in the Commonwealth of Independent States' export billet market in the week to Wednesday July 7 on limited offers from major suppliers and high deals in the week, sources told Fastmarkets.Market participants reported offers from Ukrainian mills at $650 per tonne fob Black Sea, up from $630-640 per tonne one week previously.Russian mills, particularly large mills, held back on exporting...Read More
Fastmarkets is proposing to launch a fortnightly China pig iron import price assessment to enhance its growing editorial coverage of the Asian market for the steelmaking raw material.The new assessment will be for pig iron with maximum 1.25% manganese content and maximum 0.15% phosphorus content.Market sources expect China to import pig iron in increasing volumes due to its evolving steel industry...Read More
Coking coal prices maintained the stable trend in both the cfr and fob market on Wednesday July 7. There is new demand for October-loaded Australia coking coal in the fob market and the offers for prompt loading cargoes remained strong, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $202.25 per tonne, down $0.27 per tonnePremium hard coking coal, cfr Jingtang: $308...Read More
Spot prices for standard and alloy grade cobalt have continued to trend higher since the beginning of this week, driven by aggressive offers and a pickup in end-user demand in Europe and the United States, Fastmarkets heard on Wednesday July 7.Available spot units remained in tight hands, with producers' availability low and traders holding back their offers in expectation of further price increas...Read More
The entire batch of 50,000 tonnes of reserved aluminium put up for sale by auction from Chinese state reserves was sold within seconds of bidding being opened at 8am local time on Monday July 5, sources have told Fastmarkets.This was only the first batch to be made available for purchase, and comprised only 10% of the amount expected to be sold.Bidding began at a price of 15,952 yuan ($2,465) per...Read More
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 Wednesday July 7.The figure was lower month on month, however, and supply disruptions have led Anfavea to reduce its estimate for the sector's full-year 2021 performance.Vehicle...Read More
Prices rose in the Commonwealth of Independent States' export billet market in the week to Wednesday July 7 on limited offers from major suppliers and high deals in the week, sources told Fastmarkets.Market participants reported offers from Ukrainian mills at $650 per tonne fob Black Sea, up from $630-640 per tonne one week previously.Russian mills, particularly large mills, held back on exporting...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Fastmarkets is proposing to launch a fortnightly China pig iron import price assessment to enhance its growing editorial coverage of the Asian market for the steelmaking raw material.The new assessment will be for pig iron with maximum 1.25% manganese content and maximum 0.15% phosphorus content.Market sources expect China to import pig iron in increasing volumes due to its evolving steel industry...Read More
The stainless steel scrap market in the United States started July with further price gains, with supply showing little improvement and demand continuing to be very strong."One thing is clear, the [stainless] mills continue to be busy, and the summer doldrums will either be late arriving or will decide to take this year off as the [Covid-19] pandemic recovery continues," one dealer source sai...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
All the world's major coking coal importers reduced their purchases in 2020 amid steel production cuts and lockdowns caused by the Covid-19 pandemic.China, Japan, South Korea, the European Union and India imported a total of 217.76 million tonnes of coking coal last year, down by 10.1% from 2019....Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Italian steelmaker AFV Beltrame will invest ?,?300 million ($355 million) in a greenfield steel rebar and wire rod facility in Romania that will focus on limiting the environmental impact of its steelmaking activities, the company said on Wednesday July 7.Specifically, the project is hoped to have the lowest emissions of any steel plant in the world in terms of greenhouse gases and suspended dust...Read More
Steel producer Feralpi Group has increased its investments into decarbonisation projects and plans to improve production processes as part of its industrial development strategy, the company said.Technical investments for its 2020 year rose to ?,?55.6 million ($65.6m), as part of its industrial plan, which is aimed at achieving maximum efficiency of operations, reducing consumption and emissions.T...Read More
Domestic prices for steel hot-rolled coil in Northern Europe and in Italy were largely stable on Wednesday July 7 at high levels, despite a market slowdown and increased availability of the material, sources told Fastmarkets.Buyers have been holding back from making new deals, preferring instead to take the time to assess the price trend before making orders for material that would be delivered at...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More