An overview of the battery raw materials markets and their price moves from the past week.Read More
The United States and European lithium carbonate price fell by 2.6% in a market plagued by coronavirus-related shutdowns, with suppliers there turning to the seaborne Asia market to offload stocks.European, US lithium suppliers targeted Asian seaborne market, pulling down an already weak spot carbonate price there. Chinese domestic prices stabilized, with market focus turning to the latest N...Read More
China will cut its new energy vehicle (NEV) subsidies progressively between 2020 and 2022, with a 10% reduction planned for this year, the country's ministry of finance announced on Thursday April 23.Compared with the 50% cut to subsidies in 2019, future reductions in principle will be done so at a slower rate of 10% in 2020, 20% in 2021 and 30% in 2022.This comes after Chinese Premier Li Keqiang...Read More
Global markets are contracting in the face of the Covid-19 pandemic, and the prices for flat steel products continue to retreat, with prices for coated steels down by a further 5% since late March in most of the markets that Fastmarkets tracks.The latest edition of Fastmarkets' Galvanized Steel and Tinplate Market Tracker, for April 2020, is now available to view.Further price falls are almost cer...Read More
Domestic hot-rolled coil prices in Northern Europe fell on continuing bearish sentiment, sources told Fastmarkets in Friday April 24.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?443.13 ($478.42) per tonne on Friday April 24, down by ?,?3.87 per tonne from ?,?447.00 per tonne on April 23.Official offers have been heard at ?,?455-465 per tonne ex-works, ...Read More
Anemic demand stemming from the Covid-19 pandemic resulted in another round of import price decreases for flat-rolled steel in South America, with the majority of customers reported as skipping orders for June shipments, market sources said."There is no market right now, no matter the price I offer," a Brazil-based trader source said."Most South American importers are out of the market at the mome...Read More
Apparent steel consumption in Brazil totaled 1.61 million tonnes in March 2020, falling by 11.1% from 1.82 million tonnes in the corresponding month of 2019, the national steelmakers' association, Instituto A??o Brasil, said on Friday April 24.Aside from December, which is a traditionally weaker month for steel demand because of holidays, this was the lowest figure reported since January 2019. Som...Read More
More Italian steel producers restarted their operations in the week ended Friday April 24, but one French flat steel producer plans to temporarily idle its remaining equipment, Fastmarkets has heard.European steelmakers have been reducing output and temporarily idling equipment due to the poor demand resulting from lockdown orders and other quarantine measures implemented across the region with th...Read More
British Steel is set to restart production at its North Yorkshire special steel mill, on Monday April 27, following a three-week shutdown the company announced on April 24.In addition to the 240,000 tonnes-per year special steel mill at Skinningrove in Redcar & Cleveland, the company said it also plans to reopen its Lisburn service centre in Northern Ireland."Whi...Read More
The market for pig iron exports from the south of Brazil was firm during the week ended Friday April 24 on further sales to China.Fastmarkets' weekly price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $274-275 per tonne on Friday, narrowing from $270-280 per tonne a week before. ...Read More
The pig iron market in the United States remained inactive during the week to Friday April 24 due to low steel production rates and the resulting reduced need for pig iron.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $290-295 per tonne on Friday, up by $5 per tonne from $285-290 per tonne a week before."Our steel mills are operating at record-low ra...Read More
The price of containerized ferrous scrap imports into India inched lower this week while the market continues to grapple with the fallout of the lockdown period in the country, sources told Fastmarkets on Friday April 24.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $269.13 per tonne on Friday, down from $272.50 per tonne a week earlier.Since lockdown...Read More
Brazil's slab export prices were stable this past week, with few volumes offered and costs continuing to pressure steelmakers' margins.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil was at $320-345 per tonne on Friday April 24, unchanged from the previous week.Prices near the lower end of the range corresponded to offers and consultations in Asian countries,...Read More
CIS export billet prices lost their upward momentum this week, with demand in most outlets turning weak. Turkish customers that had been particularly active recently were now showing less interest in billet imports, having booked enough material earlier."I expect the market to turn quiet by the end of the week," one trader said at the start of the week. "On Wednesday, Turkey will be on holiday, on...Read More
Vietnamese integrated steelmaker Hoa Phat plans to raise its long steel capacity by installing a new wire rod rolling mill at its Dung Quat site, located some 700km south of capital city Hanoi. The announcement of further long steel capacity at the sprawling Dung Quat complex follows a rise in steel sales for the company during the month of March. Hoa Phat's new rolling mill will have a capacity o...Read More
Key data from Fastmarkets' pricing session in Shanghai, New York and Galway on Friday April 24. China The lower end of domestic prices widened downward due to producers' attempts to destock. Export market dropped after suppliers slashed their offer prices to attract...Read More
British Steel is set to restart production at its North Yorkshire special steel mill, on Monday April 27, following a three-week shutdown the company announced on April 24.In addition to the 240,000 tonnes-per year special steel mill at Skinningrove in Redcar & Cleveland, the company said it also plans to reopen its Lisburn service centre in Northern Ireland."Whi...Read More
A summary of Spain-based stainless steel producer Acerinox's financial results for the first quarter of 2020. In brief The company said the stainless steel market recovery in the first quarter was cut short by the impact of the Covid-19 coronavirus, with profits down 14% year on year. The company had paused operations in Spain for four days in April and will resume...Read More
Apparent steel consumption in Brazil totaled 1.61 million tonnes in March 2020, falling by 11.1% from 1.82 million tonnes in the corresponding month of 2019, the national steelmakers' association, Instituto A??o Brasil, said on Friday April 24.Aside from December, which is a traditionally weaker month for steel demand because of holidays, this was the lowest figure reported since January 2019. Som...Read More
More Italian steel producers restarted their operations in the week ended Friday April 24, but one French flat steel producer plans to temporarily idle its remaining equipment, Fastmarkets has heard.European steelmakers have been reducing output and temporarily idling equipment due to the poor demand resulting from lockdown orders and other quarantine measures implemented across the region with th...Read More