Iron ore prices edged down on Friday July 23 amid weaker demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $201.33 per tonne, down by $1.30 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.86 per tonne, down by $1.76 per tonne58% Fe fines high-grade premium, cfr Qingdao: $165.45 per tonne, down by $1.43 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $236.10 per tonne, down by $3...Read More
China's alumina price has risen after severe floods in Henan province led to the closure of several local refineries, market sources told Fastmarkets.Fastmarkets' weekly price assessment for alumina metallurgical grade, exw China was 2,425-2,560 yuan ($375-397) per tonne on Thursday July 22, widening upward by 60 yuan per tonne from 2,425-2,500 yuan per tonne one week earlier, after offe...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
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
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
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
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
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
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
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
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
Italian steel re-roller Marcegaglia has been short-listed for the purchase of Italian stainless steelmaker Acciai Speciali Terni (AST), which is owned by German steelmaker Thyssenkrupp."We are really interested [in purchasing AST]. There has been the due diligence; we visited the plant this week. August will be the time for negotiations... [at the start of] September probably there will be some in...Read More
Domestic prices for hot-rolled coil in China cruised higher on Friday July 23 after the country's third-largest steelmaking province announced a ceiling for its crude steel output for 2021.DomesticEastern China (Shanghai): 5,860-5,910 yuan ($905-913) per tonne, up by 10-60 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,720-5,730 yuan ($884-885) per tonne, up by 10 yuan per tonne The...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
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
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...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
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
China's alumina price has risen after severe floods in Henan province led to the closure of several local refineries, market sources told Fastmarkets.Fastmarkets' weekly price assessment for alumina metallurgical grade, exw China was 2,425-2,560 yuan ($375-397) per tonne on Thursday July 22, widening upward by 60 yuan per tonne from 2,425-2,500 yuan per tonne one week earlier, after offe...Read More
Iron ore prices edged down on Friday July 23 amid weaker demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $201.33 per tonne, down by $1.30 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.86 per tonne, down by $1.76 per tonne58% Fe fines high-grade premium, cfr Qingdao: $165.45 per tonne, down by $1.43 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $236.10 per tonne, down by $3...Read More