Domestic hot-rolled coil prices were stable in Northern Europe on Friday July 30 but fell in Italy, market sources told Fastmarkets.Northern European mills have either been holding back from making new offers or had limited volumes of rolling coil for the end of 2021/first quarter of 2022. Since buyers have reportedly contracted for sufficient tonnages of HRC until the end of the year, they have b...Read More
China's domestic hot-rolled coil prices rose on Friday July 30, while export prices held stable after tax authorities announced the cancellation of more steel export rebates.DomesticEastern China (Shanghai): 6,000-6,010 yuan ($929-930) per tonne, up by 60-80 yuan per tonneNorthern China (Tangshan): weekly assessment: 5,880-5,920 yuan per tonne, up by 160-190 yuan per tonne The most-traded HRC cont...Read More
Fastmarkets is launching a one-month consultation on several proposed updates to the wording of its assessment methodology. The proposed wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices but are instead intended to describe the process more clearly to increase market participants' understanding of how editorial judgment is applied. The changes are not...Read More
Domestic and imported steel beam prices rose in the United States on Thursday July 29 after remaining flat the prior month.Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $63 per hundredweight ($1,260 per short ton) on July 29, up by 5% from $60 per per cwt in May and June and up by 20% from $52.50 per cwt on April 29.Fastmarkets' assessment for steel beams medium se...Read More
Brazil's pig iron export market declined in the week ended Friday July 30, in line with lower prices globally, sources said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was at $560-570 per tonne on Friday, down by 9.24% from $620-625 per tonne a week earlier."Suppliers have no more time to wait because they have availability...Read More
Prices for cold-rolled and galvanized steel sheet in the United States surged to record highs - capping an unprecedented 12 months of gains - with market participants watching the timing of automotive production resumptions for clues as to availability for the remainder of 2021.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US achieved a new all-time high of $103.50 per...Read More
The light iron scrap market in the UK was unchanged on Friday July 30, but a change in direction was likely due to a recent drop on the export markets, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?180-195 ($251-272) per tonne on Friday, unchanged at a multi-year high.Market participants expecte...Read More
Turkish steel mills continued to book deep-sea scrap cargoes at a slow pace on Friday July 30, sources told Fastmarkets.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $465 per tonne, 15,000 tonnes of shredded and 5,000 tonnes of a mixture of HMS 1 and plate and structural (P&S) at $480 per tonne cfr....Read More
The prices of shredded steel scrap imports into Pakistan and India weakened on Friday July 30 following a drop in Turkish scrap prices, sources told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $544.77 per tonne on Friday, down from $546.46 per tonne a week earlier.Deals were reported at $543-545 per tonne this week, down from deal...Read More
A surge in raw material prices, principally for direct-reduced iron (DRI), over the week ended Friday July 30 has led to Indian secondary billet prices rising by about 800 rupees ($11) per tonne.Fastmarkets assessed the price of steel billet, domestic, ex-works India, at 43,000-43,200 rupees ($579-582) per tonne on Friday, up by 800 rupees per tonne from last week's assessment at 42,200-42,400 rup...Read More
Negotiations in the United States' pig iron import market became more active during the week ended Friday July 30, although buyers have insisted on much lower prices than suppliers offered.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $620-635 per tonne on Friday, down by 0.79% from $625-640 per tonne a week...Read More
A surge in raw material prices, principally for direct-reduced iron (DRI), over the week ended Friday July 30 has led to Indian secondary billet prices rising by about 800 rupees ($11) per tonne.Fastmarkets assessed the price of steel billet, domestic, ex-works India, at 43,000-43,200 rupees ($579-582) per tonne on Friday, up by 800 rupees per tonne from last week's assessment at 42,200-42,400 rup...Read More
A summary of Brazilian flat steel and iron ore producer Usiminas' results for the first quarter of its financial year to the end of June.Adjusted earnings at Usiminas reached a record high of 5.07 billion Reais ($996 million) in the second quarter, an increase from 192 million Reais a year earlier, mainly because of higher volumes and prices in the company's main segments, it said.In briefHigher p...Read More
Steel scrap prices started to move downward in major international markets such as Turkey and the US East Coast export sector over the week ended Friday July 30, amid plentiful supply of scrap in some areas but tepid buying interest.Turkey import buy prices drop amid poor long steel salesRising scrap availability on US East Coast depresses export pricesVietnam remains out of import scrap market am...Read More
The new infection cases in Eastern China's Nanjing city made some construction sites in a few districts slowing work, but didn't cause major influence in a large range and the rebar prices kept the upward trend on Friday July 30.DomesticEastern China (Shanghai): 5,340-5,370 yuan ($827-831) per tonne, up by 40 yuan per tonneNorthern China (Beijing) weekly assessment: 5,250-5,320 yuan per tonne, up...Read More
A summary of Glencore's production results for the first half year of 2021, released on Friday July 30.In brief The company's own sourced zinc production rose year on year, mainly due to recovery from Covid-related suspensions in the second quarter of 2020, particularly in Peru. Its own sourced nickel production was lower compared to the corresponding period in 2020 due to major planned maintenanc...Read More
Aluminium 6063 billet premiums climbed in Europe and Brazil on Friday July 30, while premiums in the United States and Asia were steady. Supply contract negotiations for 2022 have started, but high freight rates and a Russian export tax are likely to complicate talks.EuropeFastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,170-1,220 per tonne on...Read More
Fastmarkets is launching a one-month consultation on several proposed updates to the wording of its assessment methodology. The proposed wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices but are instead intended to describe the process more clearly to increase market participants' understanding of how editorial judgment is applied. The changes are not...Read More
The new infection cases in Eastern China's Nanjing city made some construction sites in a few districts slowing work, but didn't cause major influence in a large range and the rebar prices kept the upward trend on Friday July 30.DomesticEastern China (Shanghai): 5,340-5,370 yuan ($827-831) per tonne, up by 40 yuan per tonneNorthern China (Beijing) weekly assessment: 5,250-5,320 yuan per tonne, up...Read More
Sudbury, a Vale SA mine in Canada where workers have been striking since June 1, has had "a very large impact" on the Brazilian miner's operations, the company's chief executive officer told analysts on July 29."Even if we quickly resolve the strike, we will still have many weeks until we normalize," CEO Eduardo De Salles Bartolomeo said, without directly answering a question on how long the strik...Read More