Exporters of steel scrap from Japan are finding it increasingly difficult to find buyers for their material at acceptable prices, sources told Fastmarkets on Wednesday November 10.Wednesday saw another price decrease at major buyer Tokyo Steel, which will drop its buy prices by ?500 ($4) per tonne across all grades and all works with effect from November 11. This will be the third decrease so far...Read More
Overwhelmingly bearish sentiment pervaded the Asian scrap markets on Wednesday November 10, with buyers exiting the market amid continual price falls; the staple Kanto Tetsugen auction was not awarded due to low bids from traders.November Kanto Tetsugen auction fails to find winnersSentiment in China bearish after a major steelmaker in the country lowers domestic scrap buy priceTaiwanese buyers wa...Read More
The weakening of the markets for flat and long steel in Asia that was created by the sharp drop in futures prices in China this week has had a negative effect on Iranian exporters, which sell most of their semi-finished steel volumes to the region, Fastmarkets heard on Wednesday November 10.Fastmarkets' daily price assessment for steel hot-rolled coil, domestic, ex-whs Eastern China, was 4,650-4,7...Read More
A lack of supportive factors in the global market has resulted in lower interest in Commonwealth of Independent States-origin export billet from the customer side, eventually influencing bids.One of the most negative factors was a sharp drop in the Chinese long-steel market due to the bearish sentiment caused by many days of weak demand, market sources said.The assessment for steel...Read More
China's domestic rebar prices fell to an eight-month low on Wednesday November 10, with the decline coming amid persistently weak demand.Domestic Eastern China (Shanghai): 4,640-4,670 yuan ($726-730) per tonne, down by 260-270 yuan per tonnePrices are now at their lowest since March 12, when they were at 4,700-4,730 yuan per tonne.The major reason for the sharp decline was bearish sentiment caused...Read More
Prices for low-carbon ferro-chrome continued to rise strongly in the week to Wednesday November 10, with the market still undersupplied and prices reaching a new record high since collapsing in November 2008.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, was $3.80-4.09 per lb Cr on November 9, up by 34-37 cents from $3.43-3.75 per lb Cr two weeks earli...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
Domestic stainless steel prices continued their sharp drop in the week ended Wednesday November 10, with the low price attracting higher buying interest.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,300-19,500 ($3,019-3,050) per tonne, down by 500-700 yuan per tonne from a week earlier."Deals [have been] hard to conclude when prices [have been] above 20,000 yuan per to...Read More
Turkish steel pipe export prices have increased over the past month on firm demand and limited supply, market participants told Fastmarkets on Wednesday November 10.Fastmarkets' monthly price assessment for steel structural pipe, export, S235JR grade, EN10219, 2mm wall thickness, fob main port Turkey, was $980-990 per tonne on November 10,...Read More
The People's Bank of China (PBOC) will offer cheaper funding to financial institutions which provide green loans, according to a statement released by the Chinese central bank on Monday November 8.The central bank will lend money to financial institutions to help them support firms which are working toward China's energy transition goals, the statement read.Financial institutions can borrow from P...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry,"carbon specialist and Keops Consulting founder Milena L??pez told...Read More
The governments of the United Kingdom, India, Germany and Canada have announced a pledge to purchase low carbon-emission steel under the Industrial Deep Decarbonization Initiative (IDDI), it was announced on Tuesday November 9.The group of countries announced its intention to buy low-carbon steel and concrete at the UN Climate Change Conference, COP26, in Glasgow, with specific interim targets by...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Trading activity was still limited in the European hot-rolled coil sector on Wednesday November 10, with buyers pausing their purchasing activity to assess the market, sources told Fastmarkets.Producers, meanwhile, have been insisting on increasing their prices for first-quarter-rolling coil in 2022, claiming that the rises were necessary due to higher costs for energy, transportation and carbon.S...Read More
Prices for low-carbon ferro-chrome continued to rise strongly in the week to Wednesday November 10, with the market still undersupplied and prices reaching a new record high since collapsing in November 2008.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, was $3.80-4.09 per lb Cr on November 9, up by 34-37 cents from $3.43-3.75 per lb Cr two weeks earli...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Cobalt hydroxide suppliers have made aggressive offers in negotiations for annual long-term contracts, sources told Fastmarkets on the sidelines of the Antaike Nickel & Cobalt conference in Ningbo, China, on November 1-3.Since the annual mating season in 2019, most cobalt hydroxide sellers and buyers have adopted a pricing mechanism for their long-term contracts for the crucial and preferred cobal...Read More
Iron ore prices went down on Wednesday November 10, in line with falling finished steel prices, with demand for iron ore weak in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.90 per tonne, down $3.40 per tonne62% Fe low-alumina fines, cfr Qingdao: $89.63 per tonne, down $3.83 per tonne58% Fe fines high-grade premium, cfr Qingdao: $61.23 p...Read More