Ferro-molybdenum and molybdic oxide have traded at more than 10-year highs in Europe this week following a new wave of inquiries and fresh concern over availability. Fastmarkets' price assessment for ferro-molybdenum 65% Mo min, in-whs Rotterdam rose to $38.25-41.50 per kg on Wednesday June 9. Prices are up by 41.42% compared with the beginning of May, and material is trading at its highest...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
Brazilian iron ore producer Vale has halted part of the railroad it uses for exports following a warning from an authority about tailings dam risks, causing a production stoppage at its Timbopeba plant and Alegria mine, the company said on Friday June 4.The disruption will result in a production loss of 33,000 tonnes per day of iron ore fines at Timbopeba and 7,500 tpd at Alegria, it said. Both un...Read More
The current upward momentum in pricing in the steel market should continue in the third quarter with support from short supply and solid demand, buoying an already optimistic market, the International Rebar Producers & Exporters Association (Irepas) said on June 4.EuropeRebar prices reached new highs during the second quarter of 2021 on support from long lead times, strong demand and limited impor...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
China's domestic rebar prices continued to trend upward on Thursday June 10 after trading activity picked up in response to rising futures.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($782-787) per tonne, up by 30-40 yuan per tonneTrading houses expect spot rebar prices to keep rising on the bullish sentiment in the futures market. As such, they raised their procurement rates to stock up on...Read More
Some traders continue to look for alternative buyers for Indian steel billet cargoes outside of the Chinese market amid problems shipping from India to China, sources told Fastmarkets.High Covid-19 cases in India have threatened to choke the export business from India's east coast amid rising freight rates and cases of Indian vessel rejections at Chinese ports, sources said.Traders continued...Read More
Turkish steel billet prices in both the local and export markets have decreased over the past week on limited demand, market participants said on Thursday June 10.Long steel prices in the country, on the other hand, increased slightly during the week because of higher materials costs.Most market participants in Turkey expected billet prices to increase in the next few weeks as well, because of inc...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
The latest deals for containers of steel scrap imported into Bangladesh over the past seven days have shown small price increases from deals in the previous week, sources told Fastmarkets on Thursday June 10.Overall scrap demand in the country remained low, particularly given the start of the monsoon season this month, but sources said that buyers in the container market have been forced to raise...Read More
The emergence of an additional Wednesday deep-sea scrap purchase by a Turkish steel mill has helped to keep prices on a upward trend, sources told Fastmarkets on Thursday June 10.The cargo from Canada was booked by a still mill in the Iskenderun region, comprising 9,500 tonnes of HMS 1&2 (95:5), 7,500 tonnes of rails and 12,000 tonnes of plate & structural (P&S) scrap at an average price of $...Read More
Domestic prices for hot-dipped galvanized steel coil in Europe were fairly stable in the week to Wednesday June 9, despite slower trading activity, sources have told Fastmarkets.The domestic prices have been supported by good order books at mills in Northern European, with Italian steelmakers offering material from fourth-quarter rolling, market sources said. Some steelmakers have also started off...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
Prices for steel billet imported into Egypt remained stable during the week to Thursday June 10 amid recovering demand, sources told Fastmarkets.New regulations for construction in the country that allow new building permits, in effect from June 1, have buoyed demand, sources said.New construction projects are still limited due to the detailed procedures to access permits but a partial removal of...Read More
Steel reinforcing bar prices in the United States increased again on Wednesday June 9, with another round of mill hikes expected soon.Fastmarkets' assessment for steel rebar, fob mill US was $44.50 per hundredweight ($890 per short ton) on Wednesday, up 1.14% from $44 per cwt the previous week.US marketThe increase follows recent mill hikes, rising shredded scrap prices in Chicago and Detroit...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
After a one-month consultation period, Fastmarkets has amended the timing specifications for its assessment of Italian SHG (special high grade) zinc premiums.The frequency of the assessments, which are currently weekly, will move to a fortnightly basis after the next assessment date on June 15. The change is due to the Italian zinc market being largely centered around long-term contracts...Read More
The latest deals for containers of steel scrap imported into Bangladesh over the past seven days have shown small price increases from deals in the previous week, sources told Fastmarkets on Thursday June 10.Overall scrap demand in the country remained low, particularly given the start of the monsoon season this month, but sources said that buyers in the container market have been forced to raise...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 10 that are worth another look.The European Commission (EC) plans to set a carbon border adjustment mechanism (CBAM) for imports of some goods, including steel and aluminium, to prevent the risk of carbon leakage, according to...Read More
The emergence of an additional Wednesday deep-sea scrap purchase by a Turkish steel mill has helped to keep prices on a upward trend, sources told Fastmarkets on Thursday June 10.The cargo from Canada was booked by a still mill in the Iskenderun region, comprising 9,500 tonnes of HMS 1&2 (95:5), 7,500 tonnes of rails and 12,000 tonnes of plate & structural (P&S) scrap at an average price of $...Read More