Ferrous scrap prices in Mexico fell this week amid a weak steel market performance and increasing inventories, sources told Fastmarkets. Low steel production in the country sent scrap stocks higher during the week.Efforts to reduce prices in the country became more widespread last week, with more steelmakers cutting buying prices and additional sellers affected by previously announc...Read More
Turkish steel mills took a break from deep-sea scrap purchases Tuesday July 21, but still expected to book more cargoes for August and September shipments, sources told Fastmarkets.The most recent booking was from the Baltic Sea region, sold on Monday July 20 at $265 per tonne cfr on HMS 1&2 (80:20) basis. This compared with the previous Baltic Sea cargoes sold at the end of last week...Read More
Seaborne iron ore prices increased on Tuesday July 21 after further concerns emerged over supplies from Brazil, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $111.43 per tonne, up $1.89 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $113 per tonne, up $1.56 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $100.36 per tonne, up $2.50 per...Read More
The price for steel billet imported into the United Arab Emirates has increased over the past week, with demand soft ahead of the Eid Al-Adha religious holiday, market sources said on Tuesday July 21.Eid Al-Adha was expected to be celebrated at the end of July, curtailing the demand in the country.The country's biggest producer, Emirates Steel, kept its rebar price unchanged at 1,773 dirhams ($483...Read More
The European spot ferro-silicon market, which has been falling since March, appears to have found a floor due to near-term supply worries with production cuts and reduced export offers into Europe supporting offer prices, trade sources told Fastmarkets.The market, currently at a price last achieved in March 2016, plunged after consumers in the steel sector brought the cost of the feedstock down ag...Read More
The German government has revealed its steel action plan, with a focus on achieving its climate goals through "green" steelmaking as it strives to support the steel industry post-pandemic. The "Steel Action Concept - For a Strong Steel Industry in Germany and Europe" was developed by the Federal Ministry for Economic Affairs and Energy and hopes to send a strong signal for climate-friendly steel m...Read More
The German government has revealed its steel action plan, with a focus on achieving its climate goals through "green" steelmaking as it strives to support the steel industry post-pandemic. The "Steel Action Concept - For a Strong Steel Industry in Germany and Europe" was developed by the Federal Ministry for Economic Affairs and Energy and hopes to send a strong signal for climate-friendly steel m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 21 that are worth another look.Two separate strikes at ArcelorMittal steelworks in northern Spain have had little or no impact on output, the company said on July 21.Maersk Line, the world's biggest shipping line by cargo capacity, will stop handling scrap cargoes destined for mainland China and Hong Kong due to policy uncerta...Read More
Aluminium premiums in the US Midwest and in Rotterdam rose on Tuesday July 21 following a wide contango on the London Metal Exchange, while premiums in Asia were flat.A wide contango and uncertainty about tariffs affecting Canada pushed the US Midwest premium to its highest since April.Slightly bullish sentiment, contango continued to support premiums throughout Europe.Premiums in Asia were steady...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 21.Please click...Read More
Ferrous scrap prices in Mexico fell this week amid a weak steel market performance and increasing inventories, sources told Fastmarkets. Low steel production in the country sent scrap stocks higher during the week.Efforts to reduce prices in the country became more widespread last week, with more steelmakers cutting buying prices and additional sellers affected by previously announc...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 21 that are worth another look.Two separate strikes at ArcelorMittal steelworks in northern Spain have had little or no impact on output, the company said on July 21.Maersk Line, the world's biggest shipping line by cargo capacity, will stop handling scrap cargoes destined for mainland China and Hong Kong due to policy uncerta...Read More
Ferroglobe has appointed Craig Arnold as its new chief commercial officer, effective immediately, in the second addition to its senior sales team this year of someone from a high-purity silicon background. "Mr. Arnold succeeds Jeff Watson, who chose to step down from his position to pursue other interests while being closer to his family in the United States," London-based Ferroglobe said on July...Read More
London Metal Exchange three-month base metals prices universally closed up on the previous day on Tuesday July 21, bolstered by the announcement on the European Union's ?,?750 billion ($857 million) fiscal package to fight the fallout of the global Covid-19 pandemic. The approval of the EU's recovery fund is expected to shore up a large amount of liquidity, which market participants anticipate wil...Read More
Seaborne iron ore prices increased on Tuesday July 21 after further concerns emerged over supplies from Brazil, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $111.43 per tonne, up $1.89 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $113 per tonne, up $1.56 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $100.36 per tonne, up $2.50 per...Read More
Fastmarkets' seaborne premium hard coking coal cfr China index continued to edge up slightly on Tuesday July 21 after the latest transaction saw it rebound further from last week's perceived 'bottom'.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.26 per tonne, down $0.09 per tonne Premium hard coking coal, cfr Jingtang: $119.47 per tonne, up $0.91 per tonneHard coking coal,...Read More
The European spot ferro-silicon market, which has been falling since March, appears to have found a floor due to near-term supply worries with production cuts and reduced export offers into Europe supporting offer prices, trade sources told Fastmarkets.The market, currently at a price last achieved in March 2016, plunged after consumers in the steel sector brought the cost of the feedstock down ag...Read More
London Metal Exchange three-month base metals prices universally closed up on the previous day on Tuesday July 21, bolstered by the announcement on the European Union's ?,?750 billion ($857 million) fiscal package to fight the fallout of the global Covid-19 pandemic. The approval of the EU's recovery fund is expected to shore up a large amount of liquidity, which market participants anticipate wil...Read More
The United States' Midwest aluminium premium surged on Tuesday July 21, with wide contango spreads on the London Metal Exchange and a more bullish sentiment causing traders to raise offer prices.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 10.5-11.5 cents per lb on July 21, up 15.8% from 9-10 cents per lb on Friday July 17 and up 22.2% from 8.5-9.5 cents per lb the week bef...Read More
A summary of Brazilian miner Vale's base metals production results for the second quarter of 2020, as stated in its production report published on Monday July 20.In brief Actions to control the spread of the Covid-19 pandemic prevented the production of 5,000 tonnes of nickel and 17,000 tonnes of copper, Vale said. These volumes would have increased the outputs shown below. Canadian nickel unit Vo...Read More