Offers of steel rebar and wire rod from the Commonwealth of Independent States were lowered somewhat over the week ended Monday June 22, with the intention of drawing in customers amid a lack of demand and growing competition with Turkish suppliers.Turkish mills were offering rebar for export at $730 and $760 per tonne fob on an actual weight basis at the end of last week, compared with $750-780 p...Read More
Domestic prices for hot-rolled coil in Europe remained in a wide range on Tuesday June 22, with some buyers ready to accept high prices for material with shorter lead times, sources told Fastmarkets.Northern European steelmakers have been reported to have good order books, and they have been holding back from making official offers. The region's mills were sold out of HRC until fourth-quarter roll...Read More
The steel rebar and billet market in the United Arab Emirates was slow because buyers are waiting for new local rebar prices to be announced, sources told Fastmarkets on Tuesday June 22.Local rebar producers should announce their new prices soon, sources said.Some market participants expect prices to roll over, while other expect discounts due to weak global prices.Fastmarkets' weekly price assess...Read More
The Turkish steel mills have been staying away from deep-sea scrap purchases because of weak rebar sales and a sufficiency of scrap stocks, market participants told Fastmarkets on Tuesday June 22.The most recent deals were heard on June 15, when two United States-origin cargoes were sold.A mill in the Marmara region bought those cargoes, which comprised HMS 1&2 (80:20) at $500 and $501 per tonne,...Read More
China's domestic rebar prices tumbled further on Tuesday June 22 on weakening demand caused by falling futures.DomesticEastern China (Shanghai): 4,800-4,840 yuan ($743-749) per tonne, down by 80 yuan per tonne The October rebar futures contract traded below Monday's settlement price of 4,991 yuan per tonne throughout Tuesday, which kept the spot market bearish.Buyers booked limited quantities and...Read More
Mexico's ferrous scrap prices increased further in the week to Friday June 18, with buyers continuing to compete for material, especially the higher grades.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 11,600 pesos ($578) per tonne on June 22, up by 400 pesos from 11,200 pesos a week earlier. This marked the fourth consecutive...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
A summary of China's battery raw materials exports for May 2021.In brief Exports of cobalt tetroxide fell in May amid falling downstream demand for batteries used in consumer electronics outside of China as a result of a lack of semi-conductor chips and a resurgence...Read More
Miners China Moly and IX Metal have joined Glencore and Huayou's Fair Cobalt Alliance (FCA), a body whose aim is to professionalize the artisanal mining sector in the global heartland of cobalt production - the Democratic Republic of Congo (DRC)."[Because we are] a large industrial miner that maintains strict product control and custody procedures, artisanal and small-scale mining [ASM] sits outsi...Read More
Brazilian domestic flat steel prices have reached a ceiling this month, with no additional room for price increases, according to Carlos Loureiro, president of national flat steel distributors' association, Inda.The price level reached a maximum after increases of around 10% were applied in early June, and distributors are already having problems passing on the adjustment to their clients.Fastmark...Read More
Glencore will restart operations at its Mutanda copper-cobalt facility toward the end of 2021, and plans to return the asset to normal production in 2022, the global miner said on Tuesday June 22.Glencore placed the facility, which is in the Democratic Republic of Congo (DRC), on care and maintenance in late 2019 following a slump in cobalt prices.Mutanda can produce around 25,000 tonnes per year....Read More
Mr Xu Kuangdi, the former president of the Chinese Academy of Engineering, said at a symposium on Monday June 21 that using scrap in steelmaking would be an "effective and realistic" way for China to achieve carbon neutrality in the steel sector and it should be "strongly encouraged" nationwide, sources said.The symposium was organized by the China Iron & Steel Association (Cisa) for the national...Read More
The Turkish steel mills have been staying away from deep-sea scrap purchases because of weak rebar sales and a sufficiency of scrap stocks, market participants told Fastmarkets on Tuesday June 22.The most recent deals were heard on June 15, when two United States-origin cargoes were sold.A mill in the Marmara region bought those cargoes, which comprised HMS 1&2 (80:20) at $500 and $501 per tonne,...Read More
Mexico's ferrous scrap prices increased further in the week to Friday June 18, with buyers continuing to compete for material, especially the higher grades.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 11,600 pesos ($578) per tonne on June 22, up by 400 pesos from 11,200 pesos a week earlier. This marked the fourth consecutive...Read More
A summary of China's battery raw materials exports for May 2021.In brief Exports of cobalt tetroxide fell in May amid falling downstream demand for batteries used in consumer electronics outside of China as a result of a lack of semi-conductor chips and a resurgence...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday June 22 and their latest price moves.China Spot domestic ferro-chrome prices jumped after leading producers raised their prices late last week. Some stainless steelmakers, with strong demand thanks to the profitable market, accepted the higher offers. Imported charge chrome prices rose strongly amid bu...Read More
Glencore will restart operations at its Mutanda copper-cobalt facility toward the end of 2021, and plans to return the asset to normal production in 2022, the global miner said on Tuesday June 22.Glencore placed the facility, which is in the Democratic Republic of Congo (DRC), on care and maintenance in late 2019 following a slump in cobalt prices.Mutanda can produce around 25,000 tonnes per year....Read More
All three-month prices for base metals on the London Metal Exchange rose by about 1% for the second day in a row on Tuesday June 22, continuing their recovery from the weakness of the previous seven days.Nickel's three-month price rose by the greatest margin on Tuesday, by 1.6% to $17,750 per tonne, following Monday's 1.7% increase to $17,450 per tonne.The metal suffered a 7.2% decline last week t...Read More
Aluminium premiums diverged again on Tuesday June 22, with Rotterdam premiums increasing, while the Japanese premium fell and the US premium was unchanged.Rotterdam premiums boosted by demand, logisticsMJP ticks down, South Korea unchangedUS Midwest premium steady for three weeksStrong demand, high freight rates boost Rotterdam premiumsPremiums in Rotterdam continued to climb, due to strong demand...Read More