The inter-merchant light iron scrap market in the United Kingdom was steady in the week to Friday July 23, consolidating small gains from the previous week amid strong domestic fundamentals, despite quiet export sales to key destinations such as Turkey and the Indian subcontinent, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered...Read More
Global scrap prices remained broadly stable over the week to Friday July 23; trading remains subdued due to public holidays and a resurgence of Covid-19.Turkish mills remain silent on public holidayUnited States export market apprehensive of downward correctionChinese prices improve on rising demandVietnam market flat on lack of interestTaiwanese scrap prices impacted by Covid-19 related lockdownI...Read More
European steelmakers are returning to the bulk alloys markets for quarterly deliveries to be shipped between October and December due to persistent supply tightness, shipping delays and container shortages and strong steel production and prices, sources told Fastmarkets.It had appeared that steelmakers were satisfied with their current quarterly intake of ferro-alloys and would typically return fo...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
The flooding caused by torrential rains that have battered central China's Henan province since last weekend has disrupted logistics and deliveries there although production remains largely unaffected, market sources told Fastmarkets.Henan, one of China's most populous provinces, is a major production hub for base metals including lead, zinc, copper and nickel. Some regions of the province, inclu...Read More
Spot copper concentrate processing charge rose to its highest level since June last year, with the market firming up levels after a month of volatility.Smelter deals concluded for clean spot concentrates at low-to-mid $50s, including shipment diverted as a result of a smelter outage in Yantai. Major smelters...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
Spot copper concentrate processing charge rose to its highest level since June last year, with the market firming up levels after a month of volatility.Smelter deals concluded for clean spot concentrates at low-to-mid $50s, including shipment diverted as a result of a smelter outage in Yantai. Major smelters...Read More
Key data from Fastmarkets' pricing sessions in the United States, China and Europe for the week ended Friday July 23.China The in-warehouse China ferro-silicon price went up following the news that a major producer in Inner Mongolia will issue a production cut due to the electricity controls in summer; in addition, Ningxia will start a series of electricity controls to limit production. Spot avail...Read More
The Turkish steel mills continued to limit their deep-sea scrap bookings in the week ended Friday July 16 due to weak finished steel sales, while the downturn in the country had a knock-on effect on prices in the global markets.Turkish mills restrict deep-sea purchases to put downward pressure on pricesSummer slowdown hits US export marketCovid-19 pandemic shuts down local long steel and scrap mar...Read More
Long steel producer Badische Stahlwerke has denied that there was a stoppage at its rolling mill in southwest Germany, a source at the company told Fastmarkets on Friday July 23.Heavy floods in Germany have interrupted the supply of steel products and raw materials across the country, with some flat steel producers even declaring force majeure to customers.There were market rumors on Friday indica...Read More
Indian domestic prices for secondary steel billet rose by about $13 per tonne during the week to Friday July 23 on stronger demand for finished products, particularly rebar, sources said.Fastmarkets assessed steel billet domestic, ex-works India at 42,200-42,400 rupees ($567-570) per tonne on Friday, up by 1,000 rupees from 41,200-41,400 rupees per tonne last week. "The billet price recovery is in...Read More
Crude steel production in Germany continued to rise in June, recording a fourth consecutive month of recovery, German steel federation WV Stahl said on Thursday July 23.German crude steel production totaled more than 3.42 million tonnes in June 2021, up from 2.47 million tonnes in June 2020, WV Stahl said.The sharp rise is partially explained, however, by a low comparative base - last year's domes...Read More
China's domestic rebar prices rose on Friday July 23 on stronger restocking demand and lower production, but end-user demand weakened in the eastern coastal region ahead of an upcoming typhoon.DomesticEastern China (Shanghai): 5,280-5,300 yuan ($815-818) per tonne, up by 50 yuan per tonneNorthern China (Beijing) weekly assessment: 5,160-5,200 yuan per tonne, up by 80-90 yuan per tonneTyphoon In-fa...Read More
The Vietnam Steel Association (VSA) is leading an industry-wide pushback against the country's proposed export tax of 5% on steel billet, it said on Friday July 23."The proposal to increase export taxes on billet and reduce import taxes on finished steel products is not suitable with the current situation of steel production," the association said.This was in response to domestic demand for steel...Read More
A major Japanese steel producer will raise its offer for October-shipment steel heavy plate to around $1,200 per tonne cfr Southeast Asia amid positive expectations, a source close to the producer told Fastmarkets on Thursday July 22.Inquiries for October-shipment plate from Southeast Asian buyers have been good despite a resurgence of Covid-19 cases in the region, he said, and September-shipment...Read More
Import prices for flat steel in South American markets edged up for most grades due to higher offers from Chinese producers, while some participants reported a slowdown in the market.Offers of hot-rolled coil and cold-rolled coil rose at least by $20-30 per tonne on lower material availability, sources said.Fastmarkets' price assessment for steel hot-rolled coil import, cfr main ports South Americ...Read More
The Vietnam Steel Association (VSA) is leading an industry-wide pushback against the country's proposed export tax of 5% on steel billet, it said on Friday July 23."The proposal to increase export taxes on billet and reduce import taxes on finished steel products is not suitable with the current situation of steel production," the association said.This was in response to domestic demand for steel...Read More
The world's largest carbon trading market is slowly gaining momentum and will eventually be a key component of China's ferrous industry, market sources told Fastmarkets this week.China kicked off nationwide carbon trading on July 16, with mostly thermal coal-fired power plants participating on the first day. Companies can buy carbon emission quotas from the market, while those with lower emissions...Read More
Domestic and export prices for Chinese stainless steel prices rose sharply over the week ended Wednesday July 21 on tight supply, which led to increased expectations of an export tariff to ease the shortage.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,000-20,100 ($2,939-3,109) per tonne, up by 1,000-1,300 yuan per tonne from a week earlierPrices have risen to their hi...Read More