The price of steel hollow sections in Europe softened in the week to Wednesday September 29, ahead of the renewal of European Union import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,300-1,330 ($1,519-1,554)per tonne on Wednesday September 29, down from ?,?1,350-1,400 per tonne on Wednesday September 2...Read More
Fastmarkets has corrected the pricing assessment for steel slab, export, fob ports Iran, which was published incorrectly on Wednesday September 29 due to a reporter error.The assessment range for steel slab, export, fob ports Iran was entered incorrectly as $672-782 per tonne, and has been corrected to $672-682 per tonne.Fastmarkets' price database has been updated to reflect the change.For m...Read More
Base metals prices were mostly slightly up on the LME but weaker on the SHFE this morning, Thursday September 30, but overall the markets seem to be consolidating while they await big-picture developments.* China’s power rationing weighs on the official manufacturing purchasing managers index (PMI)* The Thursday economic agenda is busy* US dollar rallying stronglyBase metalsAfter price weakne...Read More
Boliden has opened a new leaching plant that will extract metal from residual material at its R??nnsk??r copper smelter in Sweden,the company said on Tuesday September 28."Our aim is to extract as much metal as possible from our raw materials while ensuring the best achievable environmental and climate performance," Boliden Smelters president Daniel Peltonen said in a...Read More
Base metals prices were mixed on the morning of Wednesday September 29 while they consolidated against a backdrop of numerous headwinds. Uncertainty has picked up regarding how high US treasury yields and the dollar will go and what will the fallout be if China's Evergrande starts defaulting on foreign-owned debt. China's power rationing set to hit metal production and manufacturing, and in turn s...Read More
Rebar prices in Shanghai increased on Wednesday September 29 on restocking ahead of the National Day holidays, but demand is expected to drop in areas in north, east and central China on plans to start dust inspections at construction sites from October 1 to March 31, 2022.DomesticEastern China (Shanghai): 5,830-5,870 yuan ($902-908) per tonne, up by 40 yuan per tonneThe Ministry of Ecology and En...Read More
Domestic hot-rolled coil prices in China gained more upward momentum on Wednesday September 29, with sentiment supported by reduced production as a result of power cuts and a rush to meet energy consumption targets.DomesticEastern China (Shanghai): 5,730-5,780 yuan ($886-894) per tonne, up by 10-30 yuan per tonneHRC futures were more subdued during the day compared with the first two days of the w...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Jon Stibbs...Read More
The Brazilian steel industry intends to contribute to a reduction in greenhouse-gas (GHG) emissions in order to lower the country's carbon footprint, the steelmakers' association, Instituto A??o Brasil, said on Wednesday September 29.The methods to cut emission will include developing a strong local carbon credit market and moving forward with higher scrap and charcoal usage, as well as improving...Read More
Turkish steel mills stepped away from the deep-sea scrap import market after booking a number of cargoes earlier in the week, sources told Fastmarkets on Wednesday September 29.Steelmakers booked at least three deep-sea cargoes earlier this week. A steel mill paid $426 per tonne cfr for Europe-origin HMS 1&2 (80:20), while another steel mill paid $434 per tonne for the same material from Venezuela...Read More
Turkish steel mills stepped away from the deep-sea scrap import market after booking a number of cargoes earlier in the week, sources told Fastmarkets on Wednesday September 29.Steelmakers booked at least three deep-sea cargoes earlier this week. A steel mill paid $426 per tonne cfr for Europe-origin HMS 1&2 (80:20), while another steel mill paid $434 per tonne for the same material from Venezuela...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 29, ahead of the renewal of European Union import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,300-1,330 ($1,519-1,554)per tonne on Wednesday September 29, down from ?,?1,350-1,400 per tonne on Wednesday September 2...Read More
The Brazilian steel industry intends to contribute to a reduction in greenhouse-gas (GHG) emissions in order to lower the country's carbon footprint, the steelmakers' association, Instituto A??o Brasil, said on Wednesday September 29.The methods to cut emission will include developing a strong local carbon credit market and moving forward with higher scrap and charcoal usage, as well as improving...Read More
ArcelorMittal has secured a ?,?280 million loan from the European Investment Bank (EIB) for research and innovation to support its decarbonization objectives, the steelmaker said.The loan will enable the company to expand its research and development (R&D) activities significantly in the field of decarbonization as well as related capital expenditure, it said on September 27.Investment spendi...Read More
The opposing forces taking hold of prices in the iron ore and coking coal markets could spill over in the first quarter of 2022 due to their differing fundamentals and Chinese policy, according to market sources.Depressed iron ore vs bullish coking coalIron ore prices have been falling since early July due to cues from the Chinese government that crude steel production in 2021 should not exceed th...Read More
Base metals prices edged down in morning trading on Wednesday September 29, with weakness in across the complex supported by the rising US Dollar Index, which pushed up to its highest level since November 2020."Copper and most of the other metals [prices fell] on Wednesday, with Asian equities suffering from a global stock sell off," Marex LME desk analyst Anna Stablum said."Wall Street [had its]...Read More
China's power-cut policy has caused disruption in the battery raw materials supply chain and has brought uncertainty to the price of materials like nickel and cobalt, sources told Fastmarkets.The country started introducing power-consumption limits in some provinces in July 2021 due to power shortages following its carbon-reduction policy, and the curbs have been extended into more provinces and h...Read More
The stainless steel scrap market in the United States is largely at a standstill for now while the London Metal Exchange cash nickel price continues to lose ground, having retreated to the mid-$8-per-lb range."LME nickel is significantly off its recent highs [of] over $9 per lb, and if demand weren't still strong I think scrap prices would be even lower," one scrap dealer source said, noting...Read More
China's power-cut policy has caused disruption in the battery raw materials supply chain and has brought uncertainty to the price of materials like nickel and cobalt, sources told Fastmarkets.The country started introducing power-consumption limits in some provinces in July 2021 due to power shortages following its carbon-reduction policy, and the curbs have been extended into more provinces and h...Read More
Steel rebar prices in Southern Europe continued to slide during the week to Wednesday September 29 amid slow buying activity, sources told Fastmarkets.Fastmarkets' assessment of steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?725-740 ($841-865) per tonne on Wednesday, down by ?,?5-30 per tonne from ?,?730-770 per tonne last week.ItalyRebar demand in Italy has been weak du...Read More