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
China imported 111,432 tonnes of steel scrap in May, surpassing the total of 109,978 tonnes of its imports of the steelmaking raw material in the first four months of 2021, according to the latest Chinese customs data.Last month's imports are also 56% higher than those imported in April.Of the total, 79,327 tonnes - or 71.2% - originated in Japan. South Korea remained China's second-largest scrap...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
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
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
Join Fastmarkets and the London Metal Exchange on Tuesday June 29 for a webinar about European aluminium premiums ahead of the launch of the LME's new cash-settled futures contract.The LME will launch its new European duty-paid aluminium premium cash-settled contract on July 19, which is settled against Fastmarkets' benchmark aluminium P1020A premium, in-whs dp Rotterdam.The LME previously la...Read More
Hot-rolled coil prices in the United States rose for a third consecutive business day after market participants said tonnage on the spot market may be scarce for at least the duration of the summer. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $84.98 per hundredweight ($1,699.60 per short ton) on Tuesday June 22, an increase of 0.69% from $84.40 per cwt on Monday b...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
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
China imported 111,432 tonnes of steel scrap in May, surpassing the total of 109,978 tonnes of its imports of the steelmaking raw material in the first four months of 2021, according to the latest Chinese customs data.Last month's imports are also 56% higher than those imported in April.Of the total, 79,327 tonnes - or 71.2% - originated in Japan. South Korea remained China's second-largest scrap...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
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
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
The export market for hot-rolled coil from the Commonwealth of Independent States (CIS) has softened in the week to Tuesday June 22 because suppliers have been cutting offers to attract buyers.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $980-995 per tonne on June 22, down from $995-1,020 per tonne one week previously.HRC offers from Ukraine were r...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
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
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
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