ArcelorMittal Europe has launched new long steel products under its XCarb brand which are claimed to offer a reduced carbon footprint, with the intention of supporting the construction industry's efforts to meet environmental protection goals, the company announced on Friday July 30.ArcelorMittal Europe's Long Product division said that environmental production declarations (EPDs) were now availab...Read More
A summary of North-America based aluminium products manufacturer Arconic's second-quarter 2021 financial results, released on Tuesday August 3.In brief: Global aluminium products manufacturer Arconic reported a 52% increase in total sales during the second quarter of 2021, when compared to the same period last year, and an 8% increase in sales from the previous quarter.The company's total ad...Read More
Iron ore prices edged up on Tuesday August 3, with market participants uncertain about the nature of steel production cuts in the rest of 2021, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $184.67 per tonne, up $0.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $185.47 per tonne, up $0.39 per tonne58% Fe fines high-grade premium, cfr Qingdao: $149.00 per tonn...Read More
Turkish prices for flat steel products decreased during July and trading was limited due to holidays during the month, sources told Fastmarkets on Tuesday August 3.Global weakness in flat steel markets during the holidays - Democracy Day was on July 15 in Turkey, and the Ei al-Adha holidays took place from July 19-24 - sparked the decline in prices.Turkish hot-rolled coil producers are currently a...Read More
Iron ore prices edged up on Tuesday August 3, with market participants uncertain about the nature of steel production cuts in the rest of 2021, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $184.67 per tonne, up $0.25 per tonne62% Fe low-alumina fines, cfr Qingdao: $185.47 per tonne, up $0.39 per tonne58% Fe fines high-grade premium, cfr Qingdao: $149.00 per tonn...Read More
ArcelorMittal Europe has launched new long steel products under its XCarb brand which are claimed to offer a reduced carbon footprint, with the intention of supporting the construction industry's efforts to meet environmental protection goals, the company announced on Friday July 30.ArcelorMittal Europe's Long Product division said that environmental production declarations (EPDs) were now availab...Read More
The United States Defense Logistics Agency (DLA) plans to offer the last of this fiscal year's tin - 11.79 tonnes - in a bid opening at 9:30am US East Coast time on August 9 and closing at noon on August 10, according to an email the agency circulated to market participants on Tuesday August 3. The offering, which had been expected in July, adds to the 380 tonnes the DLA has offered to the tin-sta...Read More
Hot-rolled coil prices in the United States remained above $93 per hundredweight ($1,860 per short ton) for the fifth consecutive business day after market participants observed resolve among producers to cash in on the higher offers they circulated at the end of July. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $93.47 per cwt ($1,869.40 per ton) on Tuesday August...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...Read More
Turkish steel producers resumed their deep-sea scrap bookings after a short break, taking advantage of lower prices, market participants told Fastmarkets on Tuesday August 3.A steel mill in the Marmara region booked a US cargo comprising 29,000 tonnes of heavy melting scrap 1&2 (80:20) at $463 per tonne and 8,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $478 per tonne c...Read More
Manganese ore prices were under pressure from stubborn port inventories in China during the week ended Friday July 30, with buying sentiment further lowered by new cuts to alloy production to be imposed in the south of the country.Almost all manganese alloy smelters in Ningxia province suspended their operations from July 27 due to reduced electricity supplies, market participants told Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
Domestic and imported rebar prices were stable in the United Arab Emirates during the week to Tuesday August 3, while imported billet prices increased because of globally strong billet prices, sources told Fastmarkets.Fastmarkets' weekly assessment for steel billet export, fob main port India was $645-650 per tonne fob on Friday July 30, rising from $630-635 per tonne on July 23.Domestic reb...Read More
China's domestic hot-rolled coil prices extended their losses on Tuesday August 3, falling to their lowest in a month on lingering fears of an easing of the country's plan to cut steel production.DomesticEastern China (Shanghai): 5,660-5,750 yuan ($876-890) per tonne, down by 100-110 yuan per tonneHRC futures fell for a second day during the day, with the most-traded October contract on the Shangh...Read More
Lower bids for Japanese steel scrap heard from key buyers, combined with the sharp drop in Chinese ferrous futures this week, have created a slide in sentiment across the major Asian steel scrap markets, sources told Fastmarkets on Tuesday August 3.Slide in Chinese futures market reduces cfr China scrap, billet pricesTokyo Steel drops scrap buy prices at Tahara works, except for Shindachi bushelin...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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 standard grade, in-whs Rotterdam,...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Tuesday August 3, with LME copper and SHFE aluminium bucking the trend, but the drop in US ten-year treasury yield hints of a pick-up in haven buying.Asian equities mainly lower this morningSome disappointing manufacturing purchasing managers' index (PMI) have raised concern about...Read More
Seaborne coking coal prices inched up in the cfr market and slipped in the fob market on Tuesday August 3, amid weak buying interest in both markets, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.67 per tonne, down $1.53 per tonnePremium hard coking coal, cfr Jingtang: $326.69 per tonne, up $0.30 per tonne Hard coking coal, fob DBCT: $182.41 per tonne, down $1.25 pe...Read More
Zinc's three-month price fell to $2,969.50 per tonne at the close of trading on the London Metal Exchange on Tuesday August 3, with the entire base-metals complex turning lower during the day and with Covid-19-related concerns returning to prominence.Zinc's benchmark futures contract fell from Monday's $3,050.50 per tonne closing price, which was the highest since June 14.The galvanizing metal fal...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday August 4, and those on the Shanghai Futures Exchange were all weaker.While the metals have generally found good underlying support, overhead resistance does seem to be capping the upside, which is perhaps not surprising because we are in the middle of the summer lull.US equities focused on strong results, less on th...Read More