Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
China is moving a step closer toward a national plan for the trading of carbon emission permits with the release of guidelines by the Shanghai Environment & Energy Exchange (SEEE) on Tuesday June 22.This follows decade-long pilot projects in several provinces and cities including Shanghai.The SEEE, China's first trading platform for environmental and energy sectors, will be the sole marketplace fo...Read More
The already short supplies of steel wire rod and rebar in the north of Europe are likely to get even tighter in the coming weeks after a fire led to the suspension of operations at the Thy-Marcinelle long steel mill in Belgium, sources told Fastmarkets on Wednesday June 23. Steel production at the Riva Group plant in Charleroi was suspended for three weeks on Monday, June 21 after a fire affected...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.The project will look to enable climate-neutral steel production and to build hydrogen-powered heavy vehicles. It is building Sweden's largest fossil-fuel-free hydrogen facility, it sai...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 23 following an increase in feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,370-1,420 ($1,632-1,692) per tonne on June 23, up from ?,?1,320-1,340 per tonne on June 16.The price of hot-rolled coil, the feedstock for hollow sections...Read More
Prices for cargoes of steel billet imported into the Philippines have fallen because of a deluge of material being offered into Southeast Asian markets amid a lack of buying interest in China, Fastmarkets heard on Wednesday June 23.Bid prices in China have fallen to around $650-655 per tonne cfr for 3sp billet over the first three days of this week, down from $670 per tonne cfr on Friday amid weak...Read More
Steel billet export prices from the Commonwealth of Independent States dropped on Wednesday June 23 after some bookings done at lower levels came to light.CIS suppliers' orders were supported by demand from Turkey, although deals were done at discounted levels.A cargo of Russia-origin billet was sold to the country at $665 per tonne cfr late last week. Considering the recent increase in....Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
Buyers in South Korea have been willing to pay higher prices for Japanese scrap recently, outbidding Chinese buyers, sources told Fastmarkets on Wednesday June 23.The South Korean market has been highly interested in higher-quality scrap from Japan in recent months amid high special steel demand and rising scrap intake at some basic oxygen furnaces (BOFs) due to carbon neutrality policie...Read More
Iron ore prices rose on Wednesday June 23 amid improved sentiment because of the possible easing of blast furnace restrictions in China's Tangshan province and the sharp rise in coal prices, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $216.01 per tonne, up by $1.69 per tonne62% Fe low-alumina fines, cfr Qingdao: $219.34 per tonne, up by $3.34 per tonne58% Fe fines high-grad...Read More
Turkish steel producers have extended their absence in the deep-sea scrap market due to weak rebar sales, market participants told Fastmarkets on Wednesday June 23.Steelmakers have now been absent from the market since June 15, when two cargoes were sold into Turkey from the United States.A mill in the Marmara region bought both cargoes, comprising HMS 1&2 (80:20) at $500 and $501 per tonne, plus...Read More
The rebar price in Southern Europe held steady at multi-year high levels on Wednesday June 23 due to supply shortages and surging scrap feedstock costs, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was at ?,?760-785 ($905-935) per tonne on Wednesday, the same as last week. The price, however, has been ris...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 23 following an increase in feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,370-1,420 ($1,632-1,692) per tonne on June 23, up from ?,?1,320-1,340 per tonne on June 16.The price of hot-rolled coil, the feedstock for hollow sections...Read More
US imports of standard steel welded wire mesh from Mexico are being or are likely to be sold at less than fair value, the Commerce Department said in a final determination on Wednesday June 23.The weighted-average dumping margin has been set at 110.42% for Deacero SAPI de CV and 23.04% for Aceromex SA de CV and all other exporters. Commerce had estimated those margins at 23.67-152.68% in its preli...Read More
Hot-rolled coil prices in China's domestic market cruised higher on Wednesday June 23, with coking coal supply concerns actin as support and helping to stem the decline in steel futures prices.DomesticEastern China (Shanghai): 5,280-5,380 yuan ($814-830) per tonne, up by 10-70 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange climbed more than 1% to an intraday high of...Read More
Domestic transaction prices for hot-rolled coil in Northern Europe went up on Wednesday June 23, driven by the continuing shortage of material, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,185.04 ($1,411.73) per tonne on Wednesday, up by ?,?30.04 from ?,?1,155.00 per tonne on June 22.The index was up by ?,?50.04...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
Australia-listed IGO Ltd is one step closer to forming a joint venture with Chinese lithium producer Tianqi Lithium after key regulatory requirements for the internal restructuring of the Australasian arm of the latter to proceed have been satisfied, IGO said on Tuesday June 22. In December 2020, both companies signed an initial investment agreement which saw Tianqi's wholly-owned subsidiary Tianq...Read More