Turkish rebar and wire rod export prices remained largely unchanged this week due to a lack of demand, market participants told Fastmarkets on Thursday September 16.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was stable week on week at $660-670 per tonne on Thursday.The country's steelmakers have been offering the material for export...Read More
Iran posted a notable fall in steel product output in the first five months of the current Persian year (March 21-August 22, 2021), compared with the same period last year according to the Iranian Steel Producers Association (ISPA).Local producers made 10.8 million tonnes of semi-finished products over the period, down 12% year on year, ISPA data shows.The decline in production came as steel mills...Read More
The hard coking coal cfr price rose on Thursday September 16 after Wednesday's surge in the premium hard coking coal cfr price, while offer prices for US-origin coking coal rose further, with market participants in China reluctant to procure material.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $560.76 per tonne, up $0.76 per tonneHard coking coal, cfr Jingtang: $486.93 per tonne, up...Read More
London Metal Exchange base-metals prices were mostly lower at the 5pm close of trading on Thursday September 16, with a rise in the US dollar and the intended release of more metal from China's reserves weighing on the complex.The US Dollar Index reached its highest on Thursday since August 27, with an intraday high of 92.97. The index was well bid, with investors expecting a hawkish view from the...Read More
Sales of passenger cars in the European Union recorded double-digit falls in both July and August 2021, the European Automotive Manufacturers Association (ACEA) said on Thursday September 16.The decrease followed a continuous rise in car registrations in March-June 2021.Car registrations in the EU decreased by 23.20% year on year to 823,949 units in July 2021 and by 19.05% year on year to 622,993...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....Read More
The European Commission (EC) has extended definitive anti-dumping duties on imports of stainless steel cold-rolled (SSCR) flat products from China and Taiwan.The decision, published in the Official Journal of the European Union on Thursday September 16, followed an expiry review lodged by the European steel association Eurofer in May. The extended duties will now remain in place until 30...Read More
Tata Steel will adopt hydrogen technology at its steelworks at IJmuiden in the Netherlands as part of its sustainability process, the company announced on Wednesday September 15.The company already has a goal for the works to reduce its CO2 emissions by 5 million tonnes per year by 2030, and it has been exploring technological options to achieve this, including the capture and storage of CO2 or a...Read More
Steel billet prices in Turkey have gone down over the past week amid soft demand, market participants told Fastmarkets on Thursday September 16.The suppliers in the Commonwealth of Independent States have reduced their billet offers to Turkish customers to $620-625 per tonne cfr.But Turkish buyers were bidding only $600-605 per tonne cfr, because domestic material was available at $620 per tonne e...Read More
The European Commission (EC) has extended definitive anti-dumping duties on imports of stainless steel cold-rolled (SSCR) flat products from China and Taiwan.The decision, published in the Official Journal of the European Union on Thursday September 16, followed an expiry review lodged by the European steel association Eurofer in May. The extended duties will now remain in place until 30...Read More
Steelmaker Arvedi is in the process of purchasing fellow Italian stainless steel producer Acciai Speciali Terni (AST) from Thyssenkrupp, the German steelmaker said on Thursday September 16.The sale, which is subject to approval by Thyssenkrupp's supervisory board and merger control clearance, also includes associated sales organizations in Germany, Italy and Turkey. The sale is expected to be comp...Read More
Steel rebar and billet buyers in Egypt are waiting for prices to fall further before placing orders, sources told Fastmarkets.Global billet and rebar prices have recently been weakening; buyers in Egypt are waiting for prices to flatten before placing orders.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $610-620 per tonne on September 16, falling from $620-...Read More
Deliveries of stainless steel in China have been disrupted by an outbreak of Covid-19 in the major production hub of Fujian, but the resultant tightened supply failed to support stainless steel prices in the week ended Wednesday September 15.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,000-19,700 ($2,949-3,057) per tonne, down by 300-500 yuan per tonne from a week ear...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....Read More
Increasing steel production rates in Japan are making Japanese yards increasingly reluctant to offer cargoes to China, market sources told Fastmarkets this week. Better margins to be found in Japan's domestic marketTaiwan continues to chase containerized cargoesContainer scrap offers to Bangladesh fall amid sluggish demandChinaA slowdown in downstream demand has continued to weight on spot demand...Read More
Tata Steel will adopt hydrogen technology at its steelworks at IJmuiden in the Netherlands as part of its sustainability process, the company announced on Wednesday September 15.The company already has a goal for the works to reduce its CO2 emissions by 5 million tonnes per year by 2030, and it has been exploring technological options to achieve this, including the capture and storage of CO2 or a...Read More
Increasing steel production rates in Japan are making Japanese yards increasingly reluctant to offer cargoes to China, market sources told Fastmarkets this week. Better margins to be found in Japan's domestic marketTaiwan continues to chase containerized cargoesContainer scrap offers to Bangladesh fall amid sluggish demandChinaA slowdown in downstream demand has continued to weight on spot demand...Read More
There was a divergence in London Metal Exchange prices in the morning of September 16, with lead being the only metal to register gains, while copper, aluminum and nickel all fell - with the latter down by almost $1,000. Lead's three-month price, after a few days of persistent selling, was up by a slight $7 to $2,242 per tonne on Thursday at 9am. On Wednesday, the metal touched $2,213 per tonne, i...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 16 that are worth another look....Read More
Turkish steel mills withdrew from the deep-sea scrap markets after booking several cargoes for October shipment, sources told Fastmarkets on Thursday September 16.Turkish steelmakers have booked at least five deep-sea cargoes so far in the reported week from the United States, Canada and Baltic Sea. Market participants generally agree that most steelmakers in the country have replenished their sto...Read More