Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Nornickel resumed ore mining at full capacity at its Oktyabrsky underground mine on Thursday May 13, the company has said, after flooding at the site meant that it was offline for nearly two months.Operations were suspended on February 24 after an inflow of groundwater was reported. Nornickel said that the mine had now recovered to its full capacity for a daily mined volume of 14,100 tonnes.Mining...Read More
Downstream appetites from lithium cobalt oxide (LCO) battery manufacturers weakened in the second quarter during the traditionally weak consumption season for consumer electronics - a key consumer of LCO batteries and an industry battling with a shortage of semi-conductor chips, sources said.Some cobalt-tetroxide producers told Fastmarkets their customers have cut orders and that demand for LCO ca...Read More
China's hot-rolled coil prices fell on Thursday May 13 after Premier Li Keqiang called for stable commodity prices on Wednesday, with falls in global stock markets also dampening sentiment.DomesticEastern China (Shanghai): 6,520-6,710 yuan ($1,011-1,041) per tonne, up by 110-180 yuan per tonneSpot sellers in Shanghai secured some deals at around 6,710 yuan per tonne in the morning, but had to lowe...Read More
Guido Kerkhoff has become chief executive officer of German metals distributor Kl??ckner & Co, Fastmarkets has heard.Kerkhoff took office on Thursday May 13, replacing Gisbert R? 1/4 hl, who has been a member of the company's executive board since 2006 and its chairman since 2009.Before this, Kerkhoff had been Kl??ckner's deputy chairman of the board of directors in Europe since September 2020. He...Read More
Turkish steel mills booked one further cargo late on Wednesday at a higher price ahead of the post-Ramadan Eid al-Fitr holiday, Fastmarkets heard on Thursday May 13.The cargo came to light after the indices had closed for the day.A steel mill in the Iskenderun booked a Baltic sea cargo comprising 18,000 tonnes of HMS 1&2 (95:5) at $510 per tonne.Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in May at levels last seen nine years ago, amid relatively tight supplies and strong demand in both the local and export markets, sources said this week.Suppliers have managed to generally agree an increase of ?15 ($21) per tonne for steel scrap grades delivered into steelmakers in the...Read More
Italian domestic steel scrap prices increased substantially in the month to Thursday May 12 on support from limited availability of some grades of material and rising international prices, market sources told Fastmarkets.Market sources said that the shortage of semiconductor chips has had a negative effect on car manufacturing and, as a result, new scrap availability.In addition, scrap suppliers w...Read More
Europe's domestic prices for hot-rolled coil have continued to surge, propelled by strong demand amid a persistent material shortage, Fastmarkets heard on Thursday May 13.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,090.71 ($1,320.36) per tonne on May 13, up by ?,?32.58 per tonne from ?,?1,058.13 per tonne on May 12.The index was also up by ?...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Steel wire rod producers in Southern Europe were largely staying away from the market and holding back new offers, while scarce deals were heard done at substantially higher prices during the week amid a surge in the scrap and global long steel markets, Fastmarkets heard on Wednesday May 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe,...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 13 that are worth another look.Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.Nornickel resumed ore...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
The CIS export market for steel billet turned quiet on Thursday May 13 when buying activity in the majority of outlets faded.Customers in the Middle East-North Africa (Mena) region, as well as in some Asian countries, left the market to celebrate the end of the Islamic holy month of Ramadan, while buyers from China withdrew bids after domestic long steel prices as well as the futures market became...Read More
Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.The LME three-month nickel contract ended the official trading session on Wednesday at $17,942 per tonne, up by $680 per tonne from $17,262 per tonne on April 28.DomesticStainless steel cold-rolled coil 2mm gra...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 13 that are worth another look.Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.Nornickel resumed ore...Read More
Selling continued on the London Metal Exchange throughout Thursday May 13, leading to lower prices at the close, after higher-than-expected inflation readings from the United States triggered concerns of interest-rate increases on Wednesday.Nickel's three-month price was most affected on Thursday, with a decrease of 2.6% to $17,323 per tonne from Wednesday's $17,797 per tonne.Meanwhile, the three-...Read More
Europe's domestic prices for hot-rolled coil have continued to surge, propelled by strong demand amid a persistent material shortage, Fastmarkets heard on Thursday May 13.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,090.71 ($1,320.36) per tonne on May 13, up by ?,?32.58 per tonne from ?,?1,058.13 per tonne on May 12.The index was also up by ?...Read More
Italian domestic steel scrap prices increased substantially in the month to Thursday May 12 on support from limited availability of some grades of material and rising international prices, market sources told Fastmarkets.Market sources said that the shortage of semiconductor chips has had a negative effect on car manufacturing and, as a result, new scrap availability.In addition, scrap suppliers w...Read More