European manganese flake prices continued to surge in the week ended Wednesday June 23, boosting the premium for prompt material amid very tight stock availability in Rotterdam, Fastmarkets has heard.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 3% to $3,600-3,710 per tonne on June 23, up from $3,500-3,600 per tonne in the previous sessi...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said on Wednesday June 23."We still don't know details about tonnage or types of products that will be needed," Abimaq's executive president, Jos?(C) Ve...Read More
China's domestic stainless steel prices rose to their highest in four-and-a-half years over the past week after producers made upward adjustments to their list prices.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,900-17,500 ($2,609-2,701) per tonne, up by 300 yuan per tonne Prices were last at these levels in December 2016, according to Fastmarkets' data.High productio...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
China's domestic rebar prices increased on Thursday June 24 in response to futures gains on Wednesday, stimulating demand for restocking, sources said.DomesticEastern China (Shanghai): 4,820-4,850 yuan ($745-749) per tonne, up by 10-20 yuan per tonneOctober rebar futures on the Shanghai Futures Exchanged increased on Wednesday night to trade as a high of 5,022 yuan per tonne, up by 88 yuan per ton...Read More
Turkish steel billet prices have gone down over the past week due to falling long steel values and limited demand, market sources said on Thursday June 24.Turkish rebar and wire rod export prices have also been falling this week, which helped to drive the fall in values.The steelmakers in Turkey lowered their billet offers for domestic buyers to $675-685 per tonne ex-works from last week's $685-70...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Turkish steel mills have broken their silence in the deep-sea scrap import markets with a fresh US cargo sold at a slightly lower price, market sources said on Thursday June 24.A steel mill in the Izmir region booked a United States-origin cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $499 per tonne, 16,000 tonnes of shredded and 2,000 tonnes of bonus at $519 per tonne cfr....Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Steel wire rod prices in Northern Europe were broadly stable in the week to Wednesday, June 23, supported by persistent shortages, with market participants expecting a return to the previous upward trend in July.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?870-900 ($1,038-1,074) per tonne on Wednesday, narrowing up from ?,?860-...Read More
A group of Ukrainian parliamentarians have proposed a tax on excess profits from the export of commodities including iron ore, non-ferrous metals, ferrous scrap and rebar, Fastmarkets learned on Thursday June 24.A set of draft laws published on June 16 suggests changes to the country's tax, customs and budgetary codes, according to a note published by Verkhovna Rada, the Ukraine parliament. These...Read More
Domestic steel reinforcing bar prices in the United States stabilized after last week's spike, while import prices continue to climb.Fastmarkets' weekly assessment for steel reinforcing bar, fob mill US was $48 per hundredweight ($960 per short ton) on Wednesday June 23, unchanged from the previous week, but up 11.63% from $43 the month before.US marketAlthough the cost of rebar stabilized this we...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More