A lack of apparent upside for secondary scrap in July's domestic trade has taken the wind out of the sails of the US export market, with Turkish and South Korean buyers securing cargoes at $3.00- to $21.50-per-tonne discounts compared with the last-reported sales to these regions.Before official negotiations opened, US mills warned scrap sellers that any price increases in this month's domestic fe...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
Rebar prices in the south of Europe widened upwards in the week to July 7, moved by bullish offers from Spanish producers, while the Italian market was generally flat and digesting previous rises, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?760-830 ($900-983) per tonne on Wednesday, widening from&n...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
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 23.85-24.50 on Wednesday July...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
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
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
Global nickel premiums were generally well supported, with premiums rising in Europe and Asia while strong fundamentals and expensive logistics kept US premiums stable, sources told Fastmarkets.Open arbitrage drives Shanghai premium up Strong demand boosts European nickel briquette premium High logistics costs supports US nickel premiums Open arbitrage pushes up Shanghai nickel prem...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
China's new trend pf setting out unwritten rules for its commodities industries and communicating them verbally will be a key method to watch out for in the future, market sources told Fastmarkets."Unofficial communications to steel mills are increasingly [coming] via provincial and township authorities [and are], not written out clearly as announcements," an iron ore trader in eastern China told...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
Singapore is well-placed to continue playing a growing role in the global commodities market amid the possible likelihood of Covid-19 turning endemic, the Singapore Exchange's head of commodities, William Chin, told Fastmarkets in an interview ahead of Singapore International Ferrous Week 2021."Covid-19 brought the entire commodities industry into uncharted waters and threw out century-old playboo...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
Europe's third-quarter steel import quotas opened on Thursday July 1, but already some suppliers have absorbed a large proportion of the long steel allocation, repeating a similar scenario from the previous quarter.As a result, European independent traders and downstream steel users are once again left with no alternative to domestically produced steel and surging prices, sources told Fastmarkets....Read More
Turkish steel mills returned to the deep-sea scrap import markets with a flurry of bookings from the Baltic Sea and the United States, market participants told Fastmarkets on Wednesday July 7.A steel mill in the Izmir region booked a cargo from the US, comprising 30,000 tonnes of HMS 1&2 (80:20) at $498 per tonne cfr.And in the Marmara region, a steel mill also booked a US cargo, comprising HMS 1&...Read More
Turkish steel mills returned to the deep-sea scrap import markets with a flurry of bookings from the Baltic Sea and the United States, market participants told Fastmarkets on Wednesday July 7.A steel mill in the Izmir region booked a cargo from the US, comprising 30,000 tonnes of HMS 1&2 (80:20) at $498 per tonne cfr.And in the Marmara region, a steel mill also booked a US cargo, comprising HMS 1&...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
Chinese spot trading interest in copper cathode was minimal in the week to July 7 after the state held its first ever public auction of nonferrous metals. Since July 5, China sold 100,000 tonnes of non-ferrous metals at discounts via a public tender only open to fabricators, as part of the state's ambition to rein in the rally in commodity prices and rising procurement pressure.The Chinese governm...Read More