Some cobalt hydroxide consumers in China have been warned by shipping companies of potential delays to shipments following an outbreak of Covid-19 infections on Italian container ship Ital Libera, market participants told Fastmarkets.The container ship, which was on a scheduled trip from Durban, South Africa, to Singapore, was forced to anchor at Jakarta, Indonesia, in mid-April after its captain...Read More
The battery-grade seaborne Asian lithium carbonate market continued to post gains over the week on Thursday May 6 amid tight spot availability.Battery-grade lithium carbonate price cif China, Japan and Korea widened upward. Lithium prices in China steady following Labor Day holiday. Europe/US lithium hydroxide prices rose for both battery-grade and technical grade material. Lithium prices in Asia...Read More
Indian mills have increased domestic prices for steel hot-rolled coil by 4,500-7,000 rupees ($61-95) per tonne for sales this month, Fastmarkets heard on Friday May 7.Mills have also curtailed the supply of HRC to the domestic sector in order to ensure that the price increase will be absorbed by the market."Mills are supplying very little [HRC] material to the...Read More
Domestic prices for hot-rolled coil increased across Europe on Friday May 7, and ArcelorMittal raised its offers even further, sources told Fastmarkets.Fastmarkets calculated its steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,042.00 ($1,254.34) per tonne on May 7, up by ?,?21.17 per tonne from ?,?1,020.83 per tonne on May 6.The index was up by ?,?34.86 per tonne week on we...Read More
ArcelorMittal has again increased its official offer prices for hot-rolled coil in Europe by ?,?30 ($36) per tonne, sources told Fastmarkets on Friday May 7. The steelmaker had already increased its offers four times in April. After the rise, new offers for HRC have reached ?,?1,050 per tonne ex-works. ArcelorMittal, however, kept its offers for downstream products unchanged at ?,?1,200 per tonne...Read More
The Gulf Cooperation Council (GCC) plans to set definitive safeguard duties for a number of steel products for a period of three years, it is said in a document issued by the Bureau of Technical Secretariat for Anti Injurious Practices in International Trade (GCC-TSAIP) seen by Fastmarkets on Friday May 7. In February this year, GCC-TSAIP said that it found recent and sudden increases in imports o...Read More
Domestic wire rod prices in Poland continued to increase over the past week, boosted by good demand and a shortage of material, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,180-3,200 zloty ($836-841) per tonne on Friday, up by 20-30 zloty from 3,150-3,180 zloty per tonne delivered last week.The assess...Read More
Steel rebar prices in Poland moved up over the past week, supported by solid end-user demand and limited supply, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,970-3,020 zloty ($781-794) per tonne on Friday, up by 50-70 zloty per tonne from 2,900-2,970 zloty per tonne last week.The assessment reflected deals, of...Read More
Pig iron import prices in the United States increased during the week to Friday May 7, following the uptrend in the global market.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $620-635 per tonne on Friday, up from $585-595 per tonne the previous week.A cargo of Brazil-origin pig iron with 0.12% phosphorus content was bought at about $630-635 per tonne cfr for Augu...Read More
Prices for inter-merchant light iron scrap in the UK increased over the week ended Friday May 7, extending a general rally since late March, sources have told Fastmarkets.The market was likely to move higher, they added, given strong business conditions for European scrap exports into Turkey and the Indian subcontinent.UK monthly deliveries into domestic consumers in May were likely to be settled...Read More
Pig iron export prices from Brazil increased further on new sales in the week to Friday May 7, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $575-590 per tonne on Friday, up from $545-560 per tonne the previous week.Two 30,000-35,000 tonnes cargoes of pig iron, with phosphorous content 0.15%, were sold from southern Brazil for...Read More
Prices in the CIS export billet market continued to rise in the second half of the week as customers from Turkey and China accepted higher levels in fresh deals.There was a revival in interest in imported billet in Turkey after the recent uptick in imported scrap costs.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $488.83 per tonn...Read More
The Chinese import market for steel billet continued its rapid climb over the past seven days, with healthy demand being supported by soaring steel prices in the country.Chinese steel prices have spiked again this week, with hot-rolled coil prices setting domestic records and rebar prices leaping closer to 2008's all-time highest level.At the heart of the latest rise in rebar prices have been expe...Read More
China's domestic rebar prices maintained their upward momentum on Friday May 7, supported by strong demand, and ending the week with a rise of 240-250 yuan per tonne in the east and further growth in the north.DomesticEastern China (Shanghai): steel reinforcing bar (rebar) domestic, ex-whs Eastern China, 5,420-5,450 yuan ($837-842) per tonne, up by 40-50 yuan per tonneNorthern China (Beijing) week...Read More
The price of stainless steel flat products in Europe surged this week with some sources attributing this to China's cancellation of an export tax rebate, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm grade 304, transaction domestic, delivered North Europe, was ?,?3,000-3,050 ($3,611-3,672) per tonne, up by ?,?200 per tonne week on...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Prices for steel hollow sections in Europe moved up further on Wednesday May 5, with high feedstock costs and a lack of material choking the market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,120-1,190 per tonne ($1,347-1,4301) on May 5, up from ?,?1,070-1,120 per tonne on April 28."The Italians are having probl...Read More
Brazil's vehicle production recovered in April from the same month of 2020 when plants had to close due to the Covid-19 pandemic, the country's automaker association, Anfavea, saidBut output declined from March, it said on Friday May 7.Domestic vehicle production totaled 190,907 units last month, a huge rebound from 1,847 units in April 2020. Compared with the 200,340 units produced in March this...Read More
European steel association Eurofer believes that apparent steel consumption in the EU will increase by 11.7% year-on-year in 2021, it said on Thursday May 6.The association also forecast a more moderate rise of 4.9% year-on-year in 2022, to return "above 2017 levels thanks to continued improvement in demand from steel-using sectors."As a result, EU apparent steel consumption was expected to reach...Read More
China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace. Chinese authorities announced last week that, from May 1, import duties for metallics and semi-finished steel would be removed and that export duties for raw materi...Read More