China's domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.DomesticEastern China (Shanghai): 4,980-5,010 yuan ($778-783) per tonne, down by 70 yuan per tonne.Fear of further drops in end-user demand and the decline in futures prices have strengthened sellers' desire to run down...Read More
Tightening supply and strong demand supported China's domestic and imported alloy markets in the week ended Tuesday June 15.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, narrowed upward by 100 yuan per tonne (0.7%) to 7,600-7,800 yuan ($1,187-1,219) per tonne on Tuesday, from 7,500-7,800 yuan per tonne the previous week.Spot supply has tightened since power...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday June 16 with feedstock costs remaining stable, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,320-1,340 ($1,600-1,625) per tonne on June 16, unchanged week on week."Stocks are diminishing rapidly, and new rollings are hard to come by with hot-roll...Read More
European steel H-beam prices rose again on Wednesday June 16, with some mills closing their order books for July bookings, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,000-1,030 ($1,212-1,249) per tonne on June 16, up from ?,?970-1,000 per tonne one week earlier.Various European mills have stepped out of the market...Read More
Chinese automotive production and sales figures both fell on a monthly and annual basis, although figures for new energy vehicles still increased, according to the data from the China Association of Automobile Manufacturers (CAAM).Carmakers produced 2.04 million units in May, down by 8.70% month on month and 6.80% year on year, while sales came to 2.13 million units, down by 5.50% from April 2021,...Read More
The Italian steel distributors association, Assofermet, is calling for the complete removal of safeguard measures in Europe to protect steel users and consumers from the effects of the record high prices currently seen in the market. The association demanded the removal of the import controls on 26 steel products after the European Commission proposed extending the current measures for another thr...Read More
Austrian steelmaking group Voestalpine has developed an industrial scale process for carbon-neutral steel production without the use of fossil carbon and secured the intellectual property rights to the process from the European Patent Office, the company said on June 15.The patent is valid in all major European steel manufacturing countries and specifically covers the production of sponge iron - d...Read More
Here are five Fastmarkets stories on Tuesday June 15 that are worth another look.With responsibilities across Tata Steel's diverse international portfolio of steelmaking assets, chief executive officer and managing director T V Narendran has a wide-ranging view of, and experience in, the global steel industry. He told Kunal...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiumsTin premiums in the...Read More
Nickel premiums in the United States rose again in the seven days to Tuesday June 15 on the back of continued strikes at Vale's Sudbury mine, while premiums in Asia and Europe remained stable in a week of low liquidity.US briquette premium rises 16.7%, surpassing 20 cents per lb for the first time since 2019 Arbitrage losses continue in China, although spot market quiet due to national holidayEuro...Read More
European buyers of hot-rolled coil have been holding back from making deals for material, awaiting the European's Commission decision on import safeguard measures and clarity in the global market, sources told Fastmarkets on Wednesday June 16.Some buyers were still willing to accept current offer prices if they needed to restock specific materials, or if they were able to secure back-to-back deals...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More
The gap between lithium spot and contract prices has narrowed significantly in 2021 as a result of tight availability along the lithium supply chain and price evolution, market sources said.For example, Fastmarkets' monthly assessment of the lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, contract price cif China, Japan & Korea was $12.50-13.50 per kg on May 26, an increase of $1...Read More
Price movements on the London Metal Exchange futures complex were mixed at the close of trading on Wednesday June 16, but were within the range of its Tuesday prices ahead of the US Federal Reserve's statement later in the day.Copper's three-month price, which fell by 4% on Tuesday to $9,569.50 per tonne, strengthened by 1% on Wednesday at 5pm to $9,667 per tonne. Its intraday low of $9,489 per to...Read More
Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More
China's domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.DomesticEastern China (Shanghai): 4,980-5,010 yuan ($778-783) per tonne, down by 70 yuan per tonne.Fear of further drops in end-user demand and the decline in futures prices have strengthened sellers' desire to run down...Read More