Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More
Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More
Suppliers in China's domestic spot ferro-chrome market lowered their offer prices in the week to Tuesday August 31 after Tsingshan reduced its September ferro-chrome tender price by 800 yuan ($124) per tonne the week before.As a result, Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 600 yuan per tonne (5.7%) to 9,800-10,200 yuan ($1,517-1,579) per to...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
Steel rebar prices in Northern Europe inched down from historical highs in the week to Wednesday September 1, but sources expect the market to hold steady in September due to resuming construction activity and limited imports, sources told Fastmarkets.Trading activity in the region has not fully recovered from the holiday lull but the outlook for September is quite positive, sources said."Construc...Read More
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More
Turkish steel producers remained out of the deep-sea scrap market on Wednesday September 1, booking no new cargoes, market participants said.No new cargoes were heard booked on the market, which was described as "quiet." Mills were said to be trying to bid at prices that were lower by as much as $10 per tonne from the previous transaction...Read More
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Seaborne coking coal prices were up in both the cfr and fob markets on Wednesday September 1, although sources at two major mills in China said they did not want to buy at such high prices.Domestic first-tier coking coal prices in China, meanwhile, increased in fourth-quarter long-term contracts and coke prices increased for the eighth round since the start of August, sources said. Fastmarket...Read More
Domestic prices for cold-rolled coil in Europe were stable in the week to Wednesday September 1, supported by full order books at producers, sources have told Fastmarkets.Sentiment among buyers, however, has been negative due to a combination of competitive import offers, expected low demand from the automotive sector and sufficient stocks at distributors.A continuing shortage of semiconductors ha...Read More
A closed arbitrage for imports into China reduced interest for spot trades and, subsequently, premiums eased in Shanghai, but in Southeast Asia and the United States premiums were stable. Closures related to Covid-19 in the region and better import opportunities into China are keeping Southeast Asia premiums steady. High freight and logistics costs are supporting US copper premiums at their h...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
Base metals prices on the London Metal Exchange were mainly firmer on the morning of Tuesday August 31, while those on the Shanghai Futures Exchange were more mixed.This comes despite the release of some weaker-than-expected Chinese manufacturing numbers. The US dollar index was, however, weaker. China's manufacturing purchasing managers index (PMI) fell to 50.1 in August from 50.4 in July. China'...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The Baltic-sea cargo was heard late on Friday August 27, past the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on Monday August 30. The cargo was booked by a steel m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The Baltic-sea cargo was heard late on Friday August 27, past the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on Monday August 30. The cargo was booked by a steel m...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday August 31 and their latest price moves.China Spot domestic ferro-chrome prices tumbled after Tsingshan lowered its September tender price by 800 yuan ($123) per tonne. Production in Inner Mongolia has recovered to June levels but supply uncertainty remains due to an unstable electricity supply and new...Read More