Turkish steel producers resumed their deep-sea scrap bookings when buying a US-origin cargo at a lower price than in other recent deals, market participants told Fastmarkets on Wednesday May 26.A Turkish steelmaker booked the US cargo, consisting of 44,000 tonnes of HMS 1&2 (95:5) at $515 per tonne cfr.The most recent deep-sea transactions were done at the end of last week.A steel mill in the Iske...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 26 that are worth another look.The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021,...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
Domestic prices for hot-rolled coil in Europe have continued to rise, supported by tight domestic and overseas supply and strong demand, sources told Fastmarkets on Wednesday May 26.Although buyers had to accept higher prices to secure their required volumes, they have become more cautious about the sustainability of the upward trend in Europe due to falling prices in China.The drop in Chinese fla...Read More
The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021, the company said on Wednesday May 26.With 19 million Reais ($3.6 million) in investments for a revamp, ArcelorMittal will resume activities with one of the two electric arc furnaces in the plant. The company first cut output at...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 26 that are worth another look.The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 26 that are worth another look.The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021,...Read More
European steel H-beam prices remained on an upward trend on Wednesday May 26, with producers still committed to continued increases, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?900-920 ($1,102-1,126) per tonne on Wednesday, up from ?,?880-900 per tonne a week earlier.Following several months with consistently well-fille...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 Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) is the latest greenfield copper project to come online, having started concentrate production on Tuesday May 25. Jointly owned by Zijin Mining and Ivanhoe Mines, the copper mine began concentrate production ahead of schedule when the first batch of copper ore containing 5-6% copper content was conveyed from the underground mine...Read More
Export prices for Iran-origin steel billet and slab have slipped in recent sales because demand was only modest in the main outlet markets in Asia and the Gulf Co-operation Council (GCC) countries.Most customers preferred to take a wait-and-see stance, Fastmarkets heard on Wednesday May 26.BilletOne of the country's major billet exporters, Khouzestan Steel, was said to have sold 30,000 tonnes of b...Read More
The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021, the company said on Wednesday May 26.With 19 million Reais ($3.6 million) in investments for a revamp, ArcelorMittal will resume activities with one of the two electric arc furnaces in the plant. The company first cut output at...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
Zinc and lead premiums were mostly stable across the globe on Tuesday May 25, despite tight supply in various regions with activity gaining steam, and a milder loss of the import arbitrage in China.Zinc premium holds in northern Europe; market tightness boosts levels in ItalyUnited States Midwest premiums stable amid conflicting near-term viewsPremiums steady in Shanghai despite lower arbitrage lo...Read More
Domestic prices for hot-rolled coil in Europe have continued to rise, supported by tight domestic and overseas supply and strong demand, sources told Fastmarkets on Wednesday May 26.Although buyers had to accept higher prices to secure their required volumes, they have become more cautious about the sustainability of the upward trend in Europe due to falling prices in China.The drop in Chinese fla...Read More
European steel H-beam prices remained on an upward trend on Wednesday May 26, with producers still committed to continued increases, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?900-920 ($1,102-1,126) per tonne on Wednesday, up from ?,?880-900 per tonne a week earlier.Following several months with consistently well-fille...Read More
Robust demand continued to support the high- and low-carbon ferro-chrome markets in Europe in the week ended Tuesday May 25.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe, narrowed upward by 3 cents (+1.1%) to $1.23-1.50 per lb Cr on Tuesday, from $1.20-1.50 per lb Cr a week earlier.The market was supported by strength in the s...Read More
Prices for steel hollow sections in Europe increased again on Wednesday May 26, with mills continuing to cite higher feedstock costs for raised prices, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,250-1,320 ($1,530-1,616) per tonne on May 26, up from ?,?1,220-1,250 per tonne on May 19. Fastmarkets' weekly pri...Read More
The UK government has announced ?166 million funding to drive forward development of green technology and development as part of its Green Industrial Revolution, with UK steelmakers set to receive cash.The funding package will benefit energy-intensive businesses such as steelmaking and manufacturing and falls under the UK Prime Minister's 10 Point Plan for a green revolution, which includes remov...Read More
Spot buying interest for copper in both China and the United States was limited over the week ended Tuesday May 25, with buyers wary of price fluctuations.Chinese buying interest remains lowChina's copper premiums were stable over the seven days after consecutive weeks of declines.Fastmarkets assessed the daily benchmark copper grade-A cathode premium, cif Shanghai, at $20-35 per tonne on Tuesday,...Read More