Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Turkish steel billet prices have gone down over the past week due to falling long steel values and limited demand, market sources said on Thursday June 24.Turkish rebar and wire rod export prices have also been falling this week, which helped to drive the fall in values.The steelmakers in Turkey lowered their billet offers for domestic buyers to $675-685 per tonne ex-works from last week's $685-70...Read More
Turkish steel mills have broken their silence in the deep-sea scrap import markets with a fresh US cargo sold at a slightly lower price, market sources said on Thursday June 24.A steel mill in the Izmir region booked a United States-origin cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $499 per tonne, 16,000 tonnes of shredded and 2,000 tonnes of bonus at $519 per tonne cfr....Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
A group of Ukrainian parliamentarians have proposed a tax on excess profits from the export of commodities including iron ore, non-ferrous metals, ferrous scrap and rebar, Fastmarkets learned on Thursday June 24.A set of draft laws published on June 16 suggests changes to the country's tax, customs and budgetary codes, according to a note published by Verkhovna Rada, the Ukraine parliament. These...Read More
Domestic steel reinforcing bar prices in the United States stabilized after last week's spike, while import prices continue to climb.Fastmarkets' weekly assessment for steel reinforcing bar, fob mill US was $48 per hundredweight ($960 per short ton) on Wednesday June 23, unchanged from the previous week, but up 11.63% from $43 the month before.US marketAlthough the cost of rebar stabilized this we...Read More
European hot-rolled coil prices pushed up on Thursday June 24, despite limited trading, supported by ongoing shortages and with ArcelorMittal again raising its offer prices just a month after its previous increases.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,190.87 ($1,421.20) per tonne on Thursday, up by ?,?5.83 from ?,?1,185.04 per tonne o...Read More
Domestic prices for hot-dipped galvanized coil in Europe increased in the week to Wednesday June 23, supported by tight supplies and good demand, sources told Fastmarkets.European producers have full order books, with those in Northern Europe said to be sold out of 2021 rolling HDG, while Italian and Central European mills were still able to offer limited volumes for shipment in the fourth quarter...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
With leading car makers eyeing extra silicon in electric vehicle (EV) batteries, a Canadian company claims to be getting close to making that commercially viable with its breakthrough process.HPQ Silicon Resources Inc, of Montreal said on Tuesday June 22 it had solidified its position with a C$4.4 million ($3.58 million) equity increase, while it nears the testing phase of its patent-pending proce...Read More
The continuing upward trend in global standard-grade cobalt benchmark prices is inspiring optimistic sentiment across the market and supporting domestic cobalt sulfate and tetroxide prices in China, sources told Fastmarkets this week.Renewed demand in Europe since the middle of June led to an increases in international cobalt benchmark prices and has revived bullish sentiment, leading to a new rou...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Nike advanced $4.40 to $138.00 after reporting higher than consensus fiscal fourth quarter revenues and earnings. FedEx dropped $12.19 to $291.57 after reporting less than consensus fourth quarter results. KBE Bank ETF added $0.40 to $64.80 after 23 major U.S. banks easily passed their Fed...Read More
Steel wire rod prices in Northern Europe were broadly stable in the week to Wednesday, June 23, supported by persistent shortages, with market participants expecting a return to the previous upward trend in July.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?870-900 ($1,038-1,074) per tonne on Wednesday, narrowing up from ?,?860-...Read More
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.United States President Joe Biden has agreed a $1 trillion infrastructure deal, which should be good for metals because it focuses on upgrading roads, bridges and broadband network...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More