High inventories and falling domestic prices encouraged Brazilian suppliers to turn to export markets in June, following months of declining shipments, according to the national ferrous scrap association, Inesfa.Stronger demand for long steel in Brazil led mills to seek more scrap not only domestically, but also via imports, Inesfa's president, Clineu Alvarenga, told Fastmarkets on Tuesday July 13...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.U.S. economic news to be released at 8:30 AM EDT and 9:15 AM EDT is expected to show extensions of recent advances. July Empire State Manufacturing Survey to be released at 8:30 AM EDT is expected to increase to 18.50 from 17.40 in June. July Philly Fed Index to be released at 8:30 AM ED...Read More
The recent decline in prices of deep-sea ferrous scrap exports from North America to Turkey is expected to continue - and to extend throughout the global scrap markets with the onset of the traditional summer shutdown period, sources told Fastmarkets."The downturn we are seeing in current prices is typical of a seasonal market. We see Turkey sales down more; Asian sales [will likely be] down a lit...Read More
Automotive producers are likely to be the first downstream sector to shift toward using "green steel," Saudi Arabian steel producer Sulb Co's chief executive Ravi Singh told delegates at the Singapore Steel Forum 2021 on Wednesday July 14.He said car producers have consistently been the main innovators among the main manufacturers using steel products. "Major automotive producers such as Merc...Read More
Futures prices for nickel, aluminium and tin were higher at the 5pm close on July 13 on the London Metal Exchange, despite a spike in the United States Dollar Index after the release of US consumer price index readings. Aluminium's three-month price was the best performer on the LME on Tuesday, with a 1.8% gain on Monday's price to $2,535.50 per tonne. Over 15,000 lots of aluminium were traded by...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Due to a reporter error, the United States tin premiums for Tuesday July 13 were published in Fastmarkets' price book five minutes later than the scheduled time of 3pm GMT.Fastmarkets' fortnightly assessment of the tin, 99.85% ingot premium, in-whs Baltimore, and the tin grade A min 99.85% ingot premium, ddp Midwest US, were published at 3.05pm on Tuesday.For more information, or to provide feedba...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday July 13 and their latest price moves.China Domestic spot ferro-chrome prices jumped with higher offer prices, while liquidity remained light because of tighter spot availability. Supply concerns loomed after Inner Mongolia further restricted smelters' usage of electricity from late last week. The conti...Read More
Prices in the British market for steel scrap deliveries to domestic steelmakers have increased for the third straight month, sources said on Tuesday July 13.They cited tight supplies, notably from arisings in car production, and steady exports into deep-sea markets, with unusually strong demand from the United States.Suppliers have agreed on a general increase of ?5 ($7) per tonne for scrap, alth...Read More
Increasing scrap usage was deemed to be a key step the road map of decarbonization of Chinese steel industry, Li Xinchuang, the Vice Chairman of China Iron & Steel Association (Cisa) said on Tuesday July 13."It is important that we increase supply of scrap in the local market. We expect the share of electric-arc furnaces (EAFs) in Chinese steelmaking to increase from 10% to more than 15% in 2025,"...Read More
Junior miner Lithium Americas has joined Chinese major Ganfeng Lithium in investing in Arena Minerals, an exploration-stage lithium brine company, it said on Monday July 12.Lithium Americas has entered into an agreement to acquire about 12.9% of the issued and outstanding shares of Arena Minerals, worth $4.8 million, it said."We look forward to working with Arena Minerals and Ganfeng to support th...Read More
European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free emissions allocations, it said on Tuesday July 13."In line with the March 2021 European Parliament vote, Eurofer calls for the CBAM and EU ETS to be complementary systems, without any further redu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Domestic prices for hot-rolled coil in both Northern Europe and Italy were fairly stable day on day on Tuesday July 13 due to the start of the seasonal summer slowdown, sources told Fastmarkets.Buyers have been reported to be largely inactive in the market. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high prices, long lead times,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia moved both up and down during the week ended Tuesday July 13 because of global price fluctuations, with market activity soft during the week before the Eid al-Adha religious holiday, sources told Fastmarkets.The Islamic Eid al-Adha holiday was expected to start next week.HRC prices from China have been decreasing recently as w...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
The manganese flake price has been on the rise since May 2021 due to tight availability in the spot market and strong demand from both the steel industry and the renewable energy automobile industry, sources told Fastmarkets.Fastmarkets' price assessment for 99.7% electrolytic manganese flake basis, fob, China rose to $2,800-2,850 per tonne on July 9, up by 3.70% from $2,700-2,750 per tonne o...Read More
US silver miner Hecla reported an increase in lead production during the second quarter as its Lucky Friday mine continues its first full year of commercial production in many years.The company's lead production of 11,541 tonnes in the second quarter was a 29% gain on the same period in 2020. The Lucky Friday mine resumed full production late...Read More