Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
Chinese authorities are unlikely to lower barriers to allow more lower-grade scrap to enter the country, panelists said at the Singapore Steel Forum 2021 on Wednesday July 14.China imported 221,409 tonnes of ferrous scrap in the first five months of 2021, according to Chinese customs statistics, which was a 2,894% increase from the same period in 2020.Most of the material imported has been higher...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 14.Please click...Read More
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
United States nickel briquette premiums surged upward by over 34% this week after mine strikes continued to tighten supply, while Chinese premiums rose on the open arbitrage window between London and Shanghai and European premiums remained flat, sources told Fastmarkets.US briquette premiums gained 34.8% this week after Vale's strike added to the existing material shortageThe open arbitrage window...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
Iron ore prices were largely rangebound on Wednesday July 14 despite activity on the trading platforms, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.66 per tonne, up by $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.00 per tonne, down by $1.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.41 per tonne, down by $0.25 per tonne65% Fe...Read More
Coking coal market in China stayed largely stable on Wednesday July 14 despite a few buying interests from end users in south China. There are also new buying activities for Australia coking coal loaded in November, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.03 per tonne, down $0.24 per tonnePremium hard coking coal, cfr Jingtang: $308.32 per tonne, up $0.34 pe...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
Chinese authorities are unlikely to lower barriers to allow more lower-grade scrap to enter the country, panelists said at the Singapore Steel Forum 2021 on Wednesday July 14.China imported 221,409 tonnes of ferrous scrap in the first five months of 2021, according to Chinese customs statistics, which was a 2,894% increase from the same period in 2020.Most of the material imported has been higher...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
Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Wednesday July 14, after stronger-than-expected inflation data from the United States on Tuesday raised concerns.US consumer price index (CPI) climbed by 0.9% month on month in June, after a 0.6% rise in MayUS 10-year treasury yields rebound to 1.4%, after a low of 1.25% last week...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
Chinese authorities are unlikely to lower barriers to allow more lower-grade scrap to enter the country, panelists said at the Singapore Steel Forum 2021 on Wednesday July 14.China imported 221,409 tonnes of ferrous scrap in the first five months of 2021, according to Chinese customs statistics, which was a 2,894% increase from the same period in 2020.Most of the material imported has been higher...Read More
Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More
Steel H-beam prices in Europe increased on Wednesday July 14 after mills raised their offer prices because they have full order books, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,050-1,080 ($1,242-1,277) per tonne on July 14, widening upward by ?,?10 per tonne from ?,?1,050-1,070 per tonne on July 7."The mills ha...Read More
Shipments of cobalt hydroxide from South Africa are likely to be delayed due to serious civil strife in the country; most market participants preferred to hold back activity until the effects on the markets become clearer.The civil strife in South Africa, with significant incidents in KwaZula-Natal province in eastern South Africa, was sparked by the jailing of former South African president Jacob...Read More