The Brazilian federal government has decided to cut by 10% the import duties imposed on most materials under its tariff system, the ministries of economy and foreign relations said in a joint statement on Friday November 5.Among the changes, duties on the majority of flat-rolled and long steel products will be cut to 10.8%, from 12% currently. Import taxes on stainless steel will drop to 12.6% fro...Read More
The Commonwealth of Independent States' (CIS) billet export price declined on Friday November 5 amid limited buying interest; most producers continued to hold back from trading.Trading activity remained limited in the Black Sea basin this week amid bearish sentiment.Softening scrap and long steel prices in Turkey, one of the key buyers of CIS billet, has made buyers cautious."The steel market is s...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
Spot prices for imported ferrous scrap in Vietnam were lower week on week amid continued waves of Covid-19 in the country and a lull in demand for Vietnamese billet from China.Bulk heavy melting scrap 1&2 (80:20) from the United States was offered at $550-558 per tonne cfr Vietnam.Key market participants indicated that spot prices were at $545-550 per tonne cfr Vietnam this week.There was one sing...Read More
ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.With the company moving forward scheduled engineering works by a month due to high electricity costs, steel production at Sestao will stop from the end of November until early next year, the spokesperson said."Production...Read More
The Commonwealth of Independent States' (CIS) billet export price declined on Friday November 5 amid limited buying interest; most producers continued to hold back from trading.Trading activity remained limited in the Black Sea basin this week amid bearish sentiment.Softening scrap and long steel prices in Turkey, one of the key buyers of CIS billet, has made buyers cautious."The steel market is s...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More
Prices for shredded steel scrap imported into Pakistan and India dipped on Friday November 5 after trading slowed for both markets, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $557.89 per tonne on Friday, compared with $563.74 per tonne one week previous.Deals were heard at $552-562 per tonne in the reported...Read More
Ferrous scrap prices in the global markets were unstable in the week ended Friday November 5 because deep-sea import prices in Turkey, the biggest scrap importer, fell earlier. But they rebounded toward the end of the week, while suppliers in the United States were able to resist the decline because of strong domestic demand. Turkish import prices rebounded late in the week Strong domestic demand...Read More
Fastmarkets opened a consultation on October 1, inviting feedback on its IOSCO-audited non-ferrous materials methodologies in line with our annual methodology review process.The consultation, which closed on October 31, sought to ensure that the specifications and methodology for our audited alumina, aluminium, cobalt, copper, lithium and manganese ore prices continue to reflect the physical marke...Read More
Turkish steel producers ended the week with a total of five deep-sea scrap cargoes, with prices increasing throughout the week, market sources told Fastmarkets on Friday November 5.A steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 per tonne and 15,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr l...Read More
Prices for steel rebar in Poland inched lower during the week to Friday November 5 amid slower activity, with market participants expecting either a rollover or a slight increase in prices for November, Fastmarkets heard.Trading activity in the Polish rebar market slowed this week because local stockholders and distributors had previously replenished their stocks and were not chasing for material....Read More
A summary of Spanish stainless steelmaker Acerinox's financial results for the third quarter of 2021, ending on September 30.In brief?EUR? Earnings before interest, taxes, depreciation and amortization (Ebitda) increased for the fifth consecutive quarter - its third-quarter results were the best since the second quarter of 2007, Acerinox said.?EUR? It attributed its strong performance in the third...Read More
Buyers in the Philippines have purchased imports of steel billet at largely flat prices despite the crash in the Chinese market this week, sources told Fastmarkets on Friday November 5.The Chinese ferrous futures markets have continued to nosedive this week, further reducing the prices in the country's domestic steel billet spot market. On Friday, key China market participants told Fastmarkets tha...Read More
Low-carbon aluminium differentials in Europe have widened after this week's United Nations environmental conference, COP26, put sustainability in the spotlight.Fastmarkets assessed the aluminium low-carbon differential P1020A, Europe, at $0-10 per tonne, up from $0-7 per tonne in the previous assessment on October 1."We would be looking for $10 per tonne minimum right now, and I think that is tota...Read More
Some flat steel prices decreased in Turkey during the week ended Friday November 5; buyers were hesitant to book large tonnages because of the uncertainty, sources told Fastmarkets.Falling prices in China are behind the price drop; prices from the Commonwealth of Independent States have also decreased recently.Turkish flat steel producers accepted orders for January production during the week...Read More
Prices for shredded steel scrap imported into Pakistan and India dipped on Friday November 5 after trading slowed for both markets, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $557.89 per tonne on Friday, compared with $563.74 per tonne one week previous.Deals were heard at $552-562 per tonne in the reported...Read More
Coated steel coil prices decreased in Turkey during the week ended Friday November 5, while some buyers expect further price falls, sources told Fastmarkets.Buyers expect more price decreases because of recent price falls for hot-rolled coil and weak demand, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $910-930 per tonne on November 5, narro...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More