Turkish deep-sea scrap import prices fell sharply with the United States cargo deal announced on Wednesday July 28, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $475 per tonne, 25,000 tonnes of shredded and 15,000 tonnes of bonus at $495 per tonne cfr on July 23.This compares with the previous deep-sea trade recorded...Read More
German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.Salzgitter subsidiary Salzgitter Flachstahl will supply green strip steel products with a 66% reduced CO2 footprint to four German plants of Mercedes-Benz, with three factories already receiving the material, sources told Fastmarkets.The low CO2 steel grades are produce...Read More
The export billet trade from Iran has dried up in recent weeks amid severe production cuts at mills enforced by the shortage of electricity supply in the country, Fastmarkets heard on Wednesday July 28.Extreme heat and drought conditions have reduced water levels to the point that generation of sufficient hydro-electric power has become impossible."Mills are allowed to use electricity at nighttime...Read More
China's domestic rebar prices continued to drop on Wednesday July 28 due to early-hour weak futures, but demand increased after typhoon In-fa weakened, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,270-5,300 yuan ($810-815) per tonne, down by 10 yuan per tonneThe most-traded October rebar futures contract on the Shanghai Futures Exchange was lower than Tuesday's settlement price of...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
The nickel briquette premium in the United States has essentially doubled since a strike began at Vale Canada at the start of June, reaching a new high.Fastmarkets assessed the nickel briquette premium, delivered Midwest US at 34-37 cents per lb on Tuesday July 27, up by 97.22% from 16-20 cents per lb on June 1.The current briquette premium range overtook the previous week's re...Read More
Prices for steel billets imported to the Philippines have jumped in the week to July 28 after Chinese buying activity inflated offer prices for mills in Southeast Asia, sources told Fastmarkets.Trading activity into the Philippines had been quiet the previous week in the face of huge Chinese demand, with just one deal for Vietnamese induction furnace (IF) billet heard done at $688 per tonne cfr Ma...Read More
A growing number of steelmakers cutting production in China has prompted steel mills to reduce their consumption of direct-charge iron ore - iron ore pellets and lumps, market sources told Fastmarkets.Earlier in July, several steelmakers in various regions across China told Fastmarkets that they intend to keep this year's steel output levels from exceeding last year's.Growing uncertaintyThis has c...Read More
Summer maintenance work at steel mills was continuing across Japan but reduced generation volumes and strong prices paid by South Korea were continuing to support export scrap prices, sources told Fastmarkets on Wednesday July 28.On the lower-grade H2 material, reduced supply has been balanced by continued poor demand from Taiwan and Vietnam, sources said."I feel that the market is not so strong,...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
China's domestic and imported ferro-chrome prices were both boosted again in the week ended Tuesday July 27 after major stainless steel mills raised their August tender prices by 2,400 yuan ($369) per tonne from the previous month, to a level not seen in the past 13 years.Due to continuing supply interruptions and strong demand for material, Tsingshan announced its tender price for August-delivery...Read More
Summer maintenance work at steel mills was continuing across Japan but reduced generation volumes and strong prices paid by South Korea were continuing to support export scrap prices, sources told Fastmarkets on Wednesday July 28.On the lower-grade H2 material, reduced supply has been balanced by continued poor demand from Taiwan and Vietnam, sources said."I feel that the market is not so strong,...Read More
Prices for steel hollow sections in Europe remained unchanged on Wednesday July 28 while the market heads into a slower seasonal period, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,653-1,688) per tonne on July 28, unchanged week on week."The holidays are starting in the coming days, many are holding...Read More
Prices for steel hollow sections in Europe remained unchanged on Wednesday July 28 while the market heads into a slower seasonal period, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,653-1,688) per tonne on July 28, unchanged week on week."The holidays are starting in the coming days, many are holding...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 28.Please click...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More
Dawei Li was appointed vice president for Asia by Canadian battery recycler Li-Cycle on Tuesday July 27, with immediate effect, Fastmarkets has heard.Li will be responsible for the company's business development and commercial lithium-ion battery recycling in the Asian market.The company is a...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More