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
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Jon Stibbs...Read More
Export prices for Chinese heavy steel plate softened in the week to Tuesday September 28 amid an inactive market ahead of China's National Day break over October 1-7. Offer prices will probably increase after the holiday due to electricity consumption limits being imposed in various parts of the country, a source said.Fastmarkets' weekly price assessment for November/December shipments of steel he...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
ArcelorMittal Belgium will build a 2.5 million-tonne-per-year direct reduced iron (DRI) plant and two electric furnaces (EAFs) at its Ghent site that will drive down its carbon emissions, it said.The steelmaker has signed a letter of intent with the governments of Belgium and Flanders, supporting the ?,?1.1 billion ($1.16 billion) project, it said on Tuesday September 28.This will reduce CO2 emiss...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
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
Aqua Metals is working to apply its lead recycling technology to the recycling of lithium-ion batteries and has established a research and development center in the United States for this purpose, the company said.According to Aqua Metals, which has developed technology for plating ultra-high purity lead, early-phase testing has shown it could apply its AquaRefining methodology to plating metals f...Read More
Limited supplies of cobalt hydroxide on the spot market and rising feedstock prices have revived interest in cobalt briquettes among refineries looking to secure near-term supplies of raw materials.In the week to Friday September 24, several tens of tonnes cobalt briquettes were purchased in the spot market by cobalt salts refineries, after barely any had changed hands in previous weeks, trader so...Read More
Seaborne coking coal prices declined on Wednesday September 29 amid thin trading; premium hard coking coal prices in both the cfr and fob markets are relatively high, which depressed buying interest in the spot market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $592.89 tonne, down $4.17 per tonneHard coking coal, cfr Jingtang: $534.86 per tonne, down $3.79...Read More
Spain-based ferro-alloys producer Ferroglobe has temporarily shut another furnace in the country due to expensive energy prices, according to reports and trade sources on Tuesday September 28.The company, which recently shut a silicon furnace at its Sab??n plant in Spain, has also idled a silico-manganese furnace at its Boo plant in Santander, on the northern coast of the country. Officials a...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
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
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
Next Tech Talk report is scheduled to be released on Monday October 4thPre-opening Comments for Thursday September 30thU.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 7:00 AM EDTU.S. equity index futures were waiting for release of an updated annualized second quarter real GDP growth report at 8:30 AM EDT. Consensus is unchanged from the previous estima...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
Here are five Fastmarkets stories you might have missed on Tuesday September 28 that are worth another look.The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a...Read More
Chinese demand for steel billet imports has fallen away in recent days, amid mounting concerns over China's property market and the potential for power shortages across the country, sources told Fastmarkets on Tuesday September 28.Some market participants fear that the debt crisis engulfing major property developer Evergrande could have a wider knock-on effect on the Chinese construction sector, w...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely unchanged in the week ended Monday September 27, amid high purchasing interest from distributors with low inventories and an expectation that prices have reached a bottom, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was...Read More