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
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
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
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
The United States' hot-rolled coil steel import prices have surged to an all-time high, with buyers worldwide competing for limited material."There's not a lot of steel available, not here or anywhere else," a distributor source said.Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,540-1,610 per short ton ($77.00-80.50 per hundredweight) on Wednesday June 9, up...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 19.80-20.50 on Thursday June 10, 2021....Read More
China's stainless steel export market was inactive in the week to Wednesday June 9 amid concerns over the possibility of an export tariff being introduced in the country. Meanwhile, Indonesian suppliers took the opportunity to gain more orders.But the quieter market did not down export offers for Chinese stainless steel because China's domestic market remained strong, with prices narrowing upward...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
Iron ore prices pushed up on Tuesday June 8, despite sintering restrictions being imposed on steelmakers in China's steelmaking hub Tangshan, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $209.50 per tonne, up $7.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $211.81 per tonne, up $7.63 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.87 per tonne...Read More
Nickel and copper were down the most on the London Metal Exchange on June 10 morning, although all prices fell ahead of the release of US consumer prices data later on Thursday.LME three-month nickel fell to $17,870.50 per tonne on Thursday at 9am, back to the same levels from the Monday close, following a 1% rise on Wednesday to $18,136 per tonne. The metal's price fell on Thursday after new...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
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
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
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
The United States' hot-rolled coil steel import prices have surged to an all-time high, with buyers worldwide competing for limited material."There's not a lot of steel available, not here or anywhere else," a distributor source said.Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,540-1,610 per short ton ($77.00-80.50 per hundredweight) on Wednesday June 9, up...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
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
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
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