Ferrous scrap prices seem to have hit a bottom this year in North America, but the price spread between raw material costs - especially ferrous scrap for rebar - and the price of steel products is expected to remain at high levels, Gerdau chief executive officer Gustavo Werneck said on Wednesday October 30.According to the executive, at $502 per short ton, the United States' metal spread reached i...Read More
A booking of European scrap by a Turkish steel mill came to light and helped to push up prices on Wednesday October 30, sources told Fastmarkets, with many traders returning to work after a two-day public holiday in Turkey.A steel producer in the Iskenderun region bought a European cargo on Friday comprising 22,500 tonnes of HMS 1&2 (80:20) at $248 per tonne and 2,500 tonnes of bonus for $258 per...Read More
The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.It claimed this will give the new group 18 million tonnes of rolled steel capacity annually, making it the eighth largest steel producer outside China, with annual sales of approximately $15 billio...Read More
China's imports of cobalt intermediates, including cobalt hydroxide, surged by 24.5% in July-September versus the prior quarter amid extensive procurement from Chinese consumers, who looked to take advantage of falling cobalt raw material prices during the period.China imported 85,571 tonnes of cobalt intermediates in the third quarter of this year, up from the 68,717 tonnes shipped in April-June...Read More
The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.It claimed this will give the new group 18 million tonnes of rolled steel capacity annually, making it the eighth largest steel producer outside China, with annual sales of approximately $15 billio...Read More
China's hot-rolled coil prices remained stable for a third day on Wednesday October 30 with mills receiving a steady stream of orders, though stockists drew down their inventories on a bearish outlook for the market.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($495-498) per tonne, unchangedNorthern China (Tangshan): 3,500 yuan per tonne, unchangedSteady downstream demand kept prices flat du...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 30 that are worth another look.The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.Japanese copper producer Pan Pacific Copper (PPC) has offered its Chinese customers co...Read More
Prices for hollow steel sections in Northern and Southern Europe were unchanged this week even as feedstock costs continued to fall, market sources told Fastmarkets on Wednesday October 30.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?560-580 ($621-644) per tonne on Wednesday, unchanged week on week. "We have adjusted our pri...Read More
Prices for hollow steel sections in Northern and Southern Europe were unchanged this week despite pressure from imports and recent feedstock costs, market sources told Fastmarkets on Wednesday October 23. Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?560-580 ($623-646) per tonne on Wednesday, unchanged week on week. Costs for the feeds...Read More
A booking of European scrap by a Turkish steel mill came to light and helped to push up prices on Wednesday October 30, sources told Fastmarkets, with many traders returning to work after a two-day public holiday in Turkey.A steel producer in the Iskenderun region bought a European cargo on Friday comprising 22,500 tonnes of HMS 1&2 (80:20) at $248 per tonne and 2,500 tonnes of bonus for $258 per...Read More
Prices of mid-grade Brazilian fines were up on Wednesday October 30, with a Brazilian Blend fines (BRBF) cargo fetching $85.60 per tonne, although market participants saw little scope for any major correction in mid-grade iron ore prices.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.13 per tonne, up $0.49 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $86.95 per tonne, up $0....Read More
The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.It claimed this will give the new group 18 million tonnes of rolled steel capacity annually, making it the eighth largest steel producer outside China, with annual sales of approximately $15 billio...Read More
Iranian semi-finished steel producers have benefited from the growing demand for such materials in China, where domestic prices have surged due to government policies that have led to cuts in steel production because of environmental concerns.While customers in Southeast Asia, the Middle East and Europe became more cautious about purchasing billet and slab from Iran, fearing the consequences of th...Read More
The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.It claimed this will give the new group 18 million tonnes of rolled steel capacity annually, making it the eighth largest steel producer outside China, with annual sales of approximately $15 billio...Read More
Ferrous scrap prices seem to have hit a bottom this year in North America, but the price spread between raw material costs - especially ferrous scrap for rebar - and the price of steel products is expected to remain at high levels, Gerdau chief executive officer Gustavo Werneck said on Wednesday October 30.According to the executive, at $502 per short ton, the United States' metal spread reached i...Read More
Ferrous scrap prices seem to have hit a bottom this year in North America, but the price spread between raw material costs - especially ferrous scrap for rebar - and the price of steel products is expected to remain at high levels, Gerdau chief executive officer Gustavo Werneck said on Wednesday October 30.According to the executive, at $502 per short ton, the United States' metal spread reached i...Read More
The GFG Alliance will consolidate all of its steel businesses into one global group named Liberty Steel Group by the end of this year and align them with a strategy for carbon-neutral operations by 2030.It claimed this will give the new group 18 million tonnes of rolled steel capacity annually, making it the eighth largest steel producer outside China, with annual sales of approximately $15 billio...Read More
A new Singapore Steel Forum will kick off for the first time next year as part of Singapore Iron Ore Week (SIOW) 2020.Fastmarkets will drive the forum together with the Singapore Exchange (SGX) and Enterprise Singapore as part of an expanded SIOW, which will be held on May 18-21 2020 at Sands Expo & Convention Centre. The Singapore Steel Forum will be held on May 20 and will include global steelma...Read More
Ferrous scrap prices seem to have hit a bottom this year in North America, but the price spread between raw material costs - especially ferrous scrap for rebar - and the price of steel products is expected to remain at high levels, Gerdau chief executive officer Gustavo Werneck said on Wednesday October 30.According to the executive, at $502 per short ton, the United States' metal spread reached i...Read More
The three-month price of lead on the London Metal Exchange was lower at the close of trading on Wednesday October 30, falling by more than 2% against tight forward spreads, while aluminium futures closed at their highest level since September 24.Lead's outright price closed at $2,208 per tonne on Wednesday afternoon, softening from an intraday high of $2,256.50 per tonne. A little more than 3,500...Read More