Bangladeshi import steel scrap prices have fallen over the past week despite a continued rise in offer prices for rebar and domestic shipbreaking scrap in the country, sources told Fastmarkets on Thursday November 18.?EUR?Bangladeshi import prices ease downward?EUR?Taiwanese buyers secure containerized scrap at $445-452 per tonne cfr?EUR?Lack of demand for scrap in China due to hot metal being mor...Read More
Domestic prices for cold-rolled coil in Southern Europe moved down in the week to Wednesday November 17 due to limited trading activity and competitive import offers, sources told Fastmarkets.In the meantime, domestic prices in the north of Europe have been fairly stable despite a similar lack of demand.Both Southern and Northern European spot buyers have been avoiding booking significant volumes...Read More
Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap,...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
The infrastructure to recycle electric vehicle (EV) batteries is currently not optimized either to handle end-of-life battery capacity or to meet critical materials demands placed on the market with the ramping-up of electrification, according to US-based consultancy Lux Research.In a report issued on Thursday November 18, the consultancy said that, despite a flurry of activity in the past few yea...Read More
The removal of a safeguard duty on imports of steel billet into Egypt earlier this week has resulted in a revival of trading activity in the local market, with various sellers rushing to grasp the opportunity because of unfavorable situations in other areas.The Egyptian Ministry of Industry & Trade suspended the country's 10% safeguard duty on imported billet with effect from Monday November 15.Fo...Read More
The export price for CIS-origin steel billet softened toward the end of the current week amid increased competition in the nearby markets in Turkey and Egypt, Fastmarkets heard on Thursday November 18.Weakness in finished steel prices added to the negative sentiment.The removal of a 10% safeguard duty on billet imports into Egypt early this week [LINK] at first added some optimism to the market, b...Read More
Spot prices for hot-rolled coil in China continued to move lower on Thursday November 18, while futures prices resumed their decline amid increasing demand concerns.DomesticEastern China (Shanghai): 4,650-4,700 yuan ($729-736) per tonne, down by 30-40 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Thursday, reversing gains from the previous day's...Read More
Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.It is to collaborate on the research and development of fossil-free steel with automotive safety supplier Autoliv for use in products such as airbags and seatbelts, it said on November 15."We are looking forward to working...Read More
Italian domestic steel scrap prices increased in the month to Tuesday November 16, supported by a combination of reduced supply and strong demand, sources have told Fastmarkets.Month-on-month comparison prices have recovered by about ?,?10 ($11) per tonne. But market sources said that, taking into account that scrap prices dropped in the second half of October, the recovery since the start of Nove...Read More
Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap,...Read More
The aluminium industry needs to support the introduction of a Carbon Border Adjustment Mechanism (CBAM) to help finance the sector's push to decarbonization, the chief executive officer of United States-based Century Aluminum said.Jesse Gary told the virtual Goldman Sachs global metals and mining conference that a CBAM would need to be extended to cover scope 2 emissions to create the pricing resp...Read More
Canada-headquartered Lithium Americas has entered into a definitive arrangement agreement with Argentina-based producer Millennial Lithium to acquire all of the outstanding shares of the latter for approximately $400 million, the company said on Wednesday November 17. On November 1, Millennial Lithium announced that it had received a rival takeover bid from Lithium Americas. As such, Millennial Li...Read More
Italian domestic steel scrap prices increased in the month to Tuesday November 16, supported by a combination of reduced supply and strong demand, sources have told Fastmarkets.Month-on-month comparison prices have recovered by about ?,?10 ($11) per tonne. But market sources said that, taking into account that scrap prices dropped in the second half of October, the recovery since the start of Nove...Read More
The removal of a safeguard duty on imports of steel billet into Egypt earlier this week has resulted in a revival of trading activity in the local market, with various sellers rushing to grasp the opportunity because of unfavorable situations in other areas.The Egyptian Ministry of Industry & Trade suspended the country's 10% safeguard duty on imported billet with effect from Monday November 15.Fo...Read More
Chinese nickel sulfate producers face difficult annual contract negotiations for 2022, with upstream miners taking an aggressive stance while downstream battery precursor material producers are hinting at lower demand amid plans to implement integrated operations.The Chinese nickel sulfate price has undergone considerable volatility in 2021, climbing in August to its highest since Fastmarkets bega...Read More
Iron ore prices fell in China on Thursday November 18 in response to a new round of controls imposed on blast furnace operation and emissions restrictions in the city of Handan in Hebei province, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.27 per tonne, down $3.81 per tonne62% Fe low-alumina fines, cfr Qingdao: $88.26 per tonne, down $3.04 per tonne58% Fe fines high-gr...Read More
Iron ore prices fell in China on Thursday November 18 in response to a new round of controls imposed on blast furnace operation and emissions restrictions in the city of Handan in Hebei province, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $87.27 per tonne, down $3.81 per tonne62% Fe low-alumina fines, cfr Qingdao: $88.26 per tonne, down $3.04 per tonne58% Fe fines high-gr...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
Import and export prices for steel billet in Turkey have weakened over the past seven days, in line with limited demand and falling scrap import costs, market participants told Fastmarkets on Thursday November 18.Turkish steel mills showed little interest in deep-sea scrap imports over the past week amid slow export sales.Fastmarkets' calculation of the daily index for steel scrap, HMS 1&2 (80:20...Read More