Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
Brazilian imports of flat and long steel decreased year on year in August amid increased prices in China, according to figures released by the country's economy ministry early this week.Imports of flat steel products dropped by 30.3% year on year in August, to 66,302 tonnes from 95,116 tonnes a year before. In comparison, Brazilian imports of flat steel products...Read More
Prices for domestic steel reinforcing bar in the United States rose for the first time since January, after buyers mostly accepted mills' price increases. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), fob mill US climbed to $29.25 per hundredweight ($585 per short ton) on Wednesday September 9, up by 4.5% from $28 per cwt previously, where the price had remained since mid...Read More
Imported steel billet prices increased again in Egypt this week because of higher offer prices, sources told Fastmarkets on Thursday September 10.No bookings were heard during the week, however, because of ebbing end user demand amid weak domestic construction activity, Egyptian sources said.Construction in Egypt has been slow since a construction ban was imposed in the country on May 25, which is...Read More
The Turkish steel mills took a break from deep-sea scrap purchases after booking a number of cargoes at stronger prices earlier in the week, sources said on Thursday September 10.The steel producers in the country have booked six deep-sea cargoes so far this week, totalling around 200,000 tonnes. This activity was supported by improving demand for billet and long steel products in the...Read More
Iron ore prices in the seaborne market fell further on Thursday September 10, with market sources saying that although the fundamentals of iron ore remained stable, the high levels of steel inventories dragged prices downward.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $126.09 per tonne, down by $0.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.15 per tonne, down by $0.68 per t...Read More
Brazilian ferrous scrap exports fell both year on year and month on month in August while suppliers shifted their focus to the domestic market, data published this week by the country's ministry of the economy shows.Scrap exports reached 55,377 tonnes in August, a 19.7% year-on-year decrease from 69,000 tonnes in 2019 and a 27.6% drop in comparison with 79,460 tonnes in July of this year.The count...Read More
Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
Brazilian ferrous scrap exports fell both year on year and month on month in August while suppliers shifted their focus to the domestic market, data published this week by the country's ministry of the economy shows.Scrap exports reached 55,377 tonnes in August, a 19.7% year-on-year decrease from 69,000 tonnes in 2019 and a 27.6% drop in comparison with 79,460 tonnes in July of this year.The count...Read More
Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by 2023.Several sources have reported that the major mill had scheduled a two-week maintenance for its 2-million-tonnes-per-year hot-rolling mill in October. They estimated that this...Read More
China's coking coal import quotas have changed the dynamics of the seaborne market, making the trading of the steelmaking raw material more risky, time-consuming and expensive for traders.What was typically a month-long process for a vessel carrying Australian coking coal to deliver to China has stretched to at least four months after import quotas became scarcer and port restrictions became tight...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 10 that are worth another look.Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by...Read More
Domestic prices for hot-rolled coil remained fairly stable day on day in Northern Europe on Thursday September 10, following a substantial increase a day earlier, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.15 ($561.29) per tonne on Thursday, down by just ?,?0.10 per tonne from ?,?476.25 per tonne on Wednesda...Read More
The three-month price of copper on the London Metal Exchange was the poorest performer at the close of trading on Thursday September 10, failing to capitalize on an early-afternoon spike above $6,700 per tonne in a 1.4% daily decline, while continued volatility in global equity markets left investors cautious about commodity exposure.Copper's outright price on the LME closed at $6,668.50 per tonne...Read More
The Turkish steel mills took a break from deep-sea scrap purchases after booking a number of cargoes at stronger prices earlier in the week, sources said on Thursday September 10.The steel producers in the country have booked six deep-sea cargoes so far this week, totalling around 200,000 tonnes. This activity was supported by improving demand for billet and long steel products in the...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 10 that are worth another look.Russia's Severstal is running a modernization program at its Cherepovets steelmaking facility, which - though it may lead to short-term production cuts - will help it raise its annual steel output by 1 million tonnes by...Read More
Triland Metals Singapore Pte Ltd (TMS) has appointed Nicholas Quek as its head of sales & trading, effective September 1. Quek, who joined TMS in April 2019, most recently worked at Raffemet Pte...Read More
The three-month price of copper on the London Metal Exchange was the poorest performer at the close of trading on Thursday September 10, failing to capitalize on an early-afternoon spike above $6,700 per tonne in a 1.4% daily decline, while continued volatility in global equity markets left investors cautious about commodity exposure.Copper's outright price on the LME closed at $6,668.50 per tonne...Read More
Iron ore prices in the seaborne market fell further on Thursday September 10, with market sources saying that although the fundamentals of iron ore remained stable, the high levels of steel inventories dragged prices downward.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $126.09 per tonne, down by $0.45 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.15 per tonne, down by $0.68 per t...Read More
The three-month copper price was the standout underperformer during morning trading on Thursday September 10, after a complex-wide sell-off emerged during the Asian trading session, while LME nickel futures continued to correct firmly below the $15,000-per-tonne threshold. Copper's outright price on the LME was recently seen at $6,637 per tonne, down by more than 1.7% from Wednesday's closing pric...Read More