The price range for rebar imports into Singapore widened during the week to Monday March 15 on steady demand from buyers and lower-priced cargoes from India, sources told Fastmarkets.There was one transaction heard concluded at $685 per tonne cfr Singapore on a theoretical weight basis for a 50,000-tonne cargo from Turkey, and another transaction heard concluded at $675 per tonne cfr Singapore on...Read More
Here are five Fastmarkets stories you might have missed on Monday March 15 that are worth another look.Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8.The Aluminium Stewardship...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Volkswagen has placed a $14-billion battery cell supply order with battery maker Northvolt for the next 10 years, the Swedish company said on Monday March 15, making Northvolt the carmaker's "strategic lead supplier for premium battery cells for Volkswagen Group in Europe." The Swedish battery also said it will sell its share in joint venture Northvolt Zwei, one of the partnership's factories base...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
China's crude steel, hot metal and finished steel production all rose significantly in the first two months of 2021, according to data released by National Bureau of Statistics (NBS) on Monday March 15.Crude steel: 174.99 million tonnes, up by 12.9% from the same period a year earlierHot metal: 144.75 million tonnes, up by 6.4% year on yearFinished steel:...Read More
Taiyuan Iron & Steel (Tisco) plans to triple its annual output of stainless steel products by 2025, according to its general manager Gao Jianbing.The mill - China's second-largest stainless steel producer - plans to raise its annual crude steel output to 25 million tonnes by that year. Of these,...Read More
Here are five Fastmarkets stories you might have missed on Monday March 15 that are worth another look.Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8.The Aluminium Stewardship...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Aluminium futures closed at a price of $2,218 per tonne on the London Metal Exchange on Monday March 15, showing almost double the volumes traded in copper, and with improved demand and tight availability of the light metal edging its price upward.The price of aluminium reached $2,235 per tonne during Monday, just $8 per tonne below its 2021 year-to-date high set on February 25, and finished at 5p...Read More
Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Monday March 15, supported by a shortage of material in the region, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?791.25 ($945.39) per tonne on Monday March 15, down by just ?,?1.75 per tonne from ?,?793.00 per tonne on Friday March...Read More
Here are five Fastmarkets stories you might have missed on Monday March 15 that are worth another look.Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8.The Aluminium Stewardship...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
A key topic reverberating around the Asian steel market over the past month has been the possibility of China reducing steel export rebates to 9% from the current 13%, or possibly axing them altogether.Market chatter on this topic has grown increasingly louder, with industry sources in China hearing more and more details about these plans from late January onward."This is likely in line with China...Read More
A shortage of containers to ship commodities around the world and the consequent soaring in associated freight rates have led to a revival of interest in breakbulk cargoes. Producers and physical traders of metals, agricultural, chemical and timber products have been starting to book shipments in breakbulk vessels, which cost far less and doesn't require vast amounts of equipment in port. On the m...Read More
Aluminium futures closed at a price of $2,218 per tonne on the London Metal Exchange on Monday March 15, showing almost double the volumes traded in copper, and with improved demand and tight availability of the light metal edging its price upward.The price of aluminium reached $2,235 per tonne during Monday, just $8 per tonne below its 2021 year-to-date high set on February 25, and finished at 5p...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
Seaborne iron ore prices were lower across the board on Monday March 15 due to weak trading sentiment after a heavy sandstorm in Beijing added to concerns about the impact of emissions restrictions in Tangshan on iron ore demand. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $163.33 per tonne, down $2.11 per tonne 62% Fe low-alumina fines, cfr Qingdao: $163.61 per tonne, down $1.92 per t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view. This month's key North American steel forecast highlights: US hot-rolled coil prices continued to move in line with our forecasts in February, although actual prices again modestly exceeded our forecasts. Domestic HRC prices averaged $1,194 per ton in February, exceeding our forecast price of $1,150 per ton for the month. U...Read More
The conclusion of various holiday seasons, the end of winter, the progress of Covid-19 vaccination programs, and the will to return to more normal ways of life were all strong positives for the global long steel products market, the International Rebar Producers & Exporters Association (Irepas) said last week.The current situation and sentiment were generally very good in the world's long steel ma...Read More