Turkish steel mills have booked two new deep-sea cargoes at prices that continue the recent downward trend, sources told Fastmarkets on Tuesday June 15.Two US cargoes were heard on Tuesday, and were heard to be of similar composition.A mill in the Marmara region bought the two US cargoes, consisting of unknown tonnages of HMS 1&2 (80:20) at $500 and $501 per tonne, plus shredded and bonus material...Read More
Some steel rebar and billet prices in the United Arab Emirates decreased during the week ended Tuesday June 15, although demand was better because of low stock levels, sources have told Fastmarkets.Local rebar producers kept their prices unchanged during the week, but gave some discounts.Domestic rebarThe country's biggest producer, Emirates Steel, was offering rebar at 3,067 dirhams ($835) per to...Read More
Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...Read More
Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...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
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 Bose about the company's strategy to thrive in a changing world for major steel producers.Tata Steel is a lot more than just one of India's leading steelma...Read More
Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...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
Aluminium premiums moved in different directions on Tuesday June 15, with Rotterdam premiums resuming their uptrend, the Japanese premium ticking downward from its multi-year high, and premiums in the US and Brazil steady.Rotterdam duty-unpaid ticks up againMJP premium declines on cheaper dealsUS Midwest premium steady for two weeksBrazil premium flat on thin liquidity.European premiums strong des...Read More
Ferrous scrap prices in Mexico continued to rise across nearly all grades in the week ended Friday June 11, with most consumers struggling to secure volumes.Both the obsolete and prime grades are in heavy demanded, with the market outlook for most steel products positive.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 11,200 pesos ($566)...Read More
Market participants in Europe expect domestic prices for hot-rolled coil in the region to remain fairly stable in the short term due to an ongoing shortage of material, sources told Fastmarkets on Tuesday June 15.Trading activity has been slow in June, with buyers preferring to hold back from making new deals and accepting current mill prices if they need to restock specific material or if they ha...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
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
Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...Read More
Keen selling was seen across the London Metal Exchange and throughout the day on Tuesday June 15, which took the price of copper to its lowest level since late April this year.Copper's three-month closing price was $9,569 per tonne, showing a 4% decrease from Monday's closing price of $9,971.50 per tonne.Its intraday low of $9,511 per tonne was the lowest price for copper since April 23, while the...Read More
Seaborne iron ore prices mostly edged upward on Tuesday June 15 despite limited liquidity and the downtrend in the financial markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.87 per tonne, up by $1.10 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.09 per tonne, up by $1.47 per tonne58% Fe fines high-grade premium, cfr Qingdao: $194.60 per tonne, down by $0.62 per tonne65% F...Read More
Weakness was evident across the base metals in London and Shanghai on the morning of Tuesday June 15 despite pre-market Western equity index futures driving higher and high volumes traded on the London Metal Exchange.14,205 lots had been traded on the LME by 5.52am London time compared with typical volume of 6,000 lots at this timeMarkets seem to be nervous about the measures China's authorities m...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More