Here are five Fastmarkets stories you might have missed on Tuesday August 10 that are worth another look.Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on August 10.If any member was going...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 10 that are worth another look.Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on August 10.If any member was going...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Mixed signals have emerged over the next direction for the US Midwest ferrous scrap market, but sources seem fairly certain that No1 busheling could face its first downward correction since August 2020 in the next round of trading.September's outlook is murky. Some feel shredded scrap could hold up due to strong demand, while others disagree; and while there is consensus that prime scrap could dro...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 Cobalt alloy grade, in-whs Rotterdam,...Read More
A summary of Finland-based stainless steel producer Outokumpu's results for the second quarter of 2021.In brief The company managed to increase steel deliveries by 20% year-on-year thanks to the improved market fundamentals in all business areas, considering that the reference period in 2020 was much weaker due to the demand slump created by the Covid-19 pandemic. Increased stainless steel prices...Read More
Hot-rolled coil prices in the United States achieved yet another record high, with debate now intensifying over whether mills can eventually collect $2,000 per short ton ($100 per hundredweight) on hot band.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.67 per cwt ($1,893.40 per ton) on Tuesday August 10, an increase of 0.65% from $94.06 per cwt on Monday August...Read More
Russia's Metalloinvest is investing 2 billion roubles ($27.18 million) in increasing iron ore pellet output at its Oskol Electrometallurgical Plant (OEMK) in Russia's Central Federal District. The company will reconstruct its pelletizing plant at OEMK, replacing the existing equipment and adding a sixth pelletizing line. It expects the work to be complete in the fourth quarter of 2022.The changes...Read More
The silicon price has been on an upward trend since 2021 and has now hit an all-time high.Fastmarkets' assessment of the price for silicon export 98.5% Si min, fob China rose to $2,350-2,450 per tonne on August 6, up by 10.4% from $2,150-2,200 per tonne on July 30. The rainy season in southern China usually signals the start of a downtrend in the Chinese silicon price because of rising...Read More
Triland Metals Ltd has resigned as a Category 1 member of the London Metal Exchange, ending almost 50 years as a ring dealing member of the exchange, the company said in a letter to its customers seen by Fastmarkets. Company chief executive officer Martin Pratt said in the letter that Triland - a 100%-owned subsidiary of Japanese conglomerate Mitsubishi set up in 1971 to hedge against price moveme...Read More
Prices for domestic steel rebar in Russia's Central Federal District have continued to decline, losing another 3000-5000 roubles ($41-68) per tonne in the seven days to Monday August 9.Market participants expect the downward trend to prevail until the busy construction season ends in early November.Considering the high prices on offer from traditional suppliers in the Moscow area, stockists have b...Read More
Tin's three-month price reached a new all-time high of $35,300 per tonne on the London Metal Exchange, with continued tightness continuing to grip the market, while the rest of the complex rose by an average of 1.3% on Tuesday August 10. Tin's three-month price has increased by around 9.5% in the last month, having had an intraday high of $32,250 per tonne on July 12. Around 470 lots of tin h...Read More
Base metals prices on the LME were mainly weaker this morning, Wednesday August 11, after average rebound gains of 1.4% on Tuesday, while SHFE base metals prices were mainly stronger in reaction to yesterday's LME gains.* US Senate passes $1 trillion infrastructure bill, focused on the transport system* Wall Street set fresh record highs on Tuesday* US dollar strong and climbing and US treasury yi...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to June 30, 2021.In brief"Local rebar consumption reached 3.36 million tonnes in the first half of 2021, an increase of 2% over the first half of 2020," the company said in a release to the London Stock Exchange on Monday August 9."However, consumption in...Read More
Vietnamese steelmakers are planning to return to importing deep sea cargoes after limited recent buying activity in the country, sources told Fastmarkets on Tuesday August 10. Vietnamese buyers are looking closely at deep-sea cargoesMajor Chinese steel mills lower domestic scrap purchase prices for the second time in five daysTaiwan secures containerized scrap at lower pricesVietnamBuyers are seek...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 10 that are worth another look.Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on August 10.If any member was going...Read More
The waiting time to deliver aluminium out of Istim's London Metal Exchange-registered warehouses in Johor, Malaysia, has risen to 78 days, according to the LME's latest queue report.The 78-day queue at the end of July is up from just eight days at the end of June. Over July, no fresh units were delivered into Istim's Johor warehouses and only 34,275 tonnes were delivered out. Total stock now sits...Read More
Tin's three-month price reached a new all-time high of $35,300 per tonne on the London Metal Exchange, with continued tightness continuing to grip the market, while the rest of the complex rose by an average of 1.3% on Tuesday August 10. Tin's three-month price has increased by around 9.5% in the last month, having had an intraday high of $32,250 per tonne on July 12. Around 470 lots of tin h...Read More
Turkish steel mills booked no new cargoes on Tuesday August 10, keeping prices stable, but older cargoes have been reported, sources told Fastmarkets.Despite a lack of new bookings on Tuesday, cargoes booked the previous week were reported by the market.A United Kingdom booking comprised of 25,000 tonnes of HMS 1&2 (80:20) at $460 per tonne cfr was traded late in the week to August 6....Read More
The 2022 Winter Olympics and Winter Paralympic Games will test China's resolve on decarbonization, with new pollution control measures likely to be imposed for the major sporting event, sources told Fastmarkets.Beijing and the surrounding area of Hebei, including Yanqing and Zhangjiakou, will host 109 sporting events in 15 disciplines on February 4-20 in 2022 for Winter Olympic Games and March 4-1...Read More