An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More
Poland wire rod producers raised prices for July material, as expected, with shortages and good demand remaining the key drivers for the uptrend, Fastmarkets heard on Friday June 25.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 4,000-4,100 zloty ($1,054-1,081) per tonne on Friday, up 200 zloty from 3,800-3,900 zloty per tonne delivered la...Read More
The Commonwealth of Independent States (CIS) export billet market turned quiet at the end of the week to June 25 following news of the Russian government's plan to impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU) from August 1, Fastmarkets heard.Billet is one of the products that will be affected if the government imposes the duties.T...Read More
The price of pig iron exported from the Commonwealth of Independent States dipped in the week to Thursday June 24 on reduced buying activity after key consumers restocked earlier in June and are now anticipating lower prices. Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $610-635 per tonne on Thursday, widening downward from $625-635 per to...Read More
Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020. After a number of cancellations and deliveries out this week, only 941,875 tonnes of aluminium are listed as on warrant - with the rest canceled and booked for delivery out. By comparison, on-warrant stocks were at well over 1.3 mill...Read More
European Metal Recycling (EMR) will commit to a net zero carbon emissions target across all three emission scopes, the company said on June 24.EMR aims to be carbon neutral by 2040 across scopes 1, 2 and 3 of relevant greenhouse gas emissions, and to provide its customers with traceability of its materials across the supply chain.EMR's goal is to reach net zero for indirect emissions created by th...Read More
Indian domestic prices for secondary steel billet fell by 1,000 rupees ($13) per tonne in the week ended Friday June 25, in line with similar price dips for finished products such as rebar, Fastmarkets has heard.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets at 41,300-41,500 rupees ($557-559) per tonne on Friday, compared with last week's assessment at 42,300-42,5...Read More
China's domestic hot-rolled coil prices pushed up on Friday June 25, after futures prices increased following talks of production curbs on steel mills in the Tangshan steelmaking hub in northern China.DomesticEastern China (Shanghai): 5,380-5,450 yuan ($833-844) per tonne, up by 80-90 yuan per tonne. Northern China (Tangshan): weekly assessment: 5,280-5,330 yuan ($818-826) per tonne, down by 150-1...Read More
Steel mills in India reduced the price of hot rolled coil exports to Southeast Asia by as much as $50 per tonne in the week to Friday June 25, with official offers down to $940-950 per tonne fob Indian ports.According to market participants, however, buyers in Southeast Asia are considering HRC prices closer to $880-890 per tonne fob Indian ports for mid-July- August shipment.Fastmarkets' price as...Read More
Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020. After a number of cancellations and deliveries out this week, only 941,875 tonnes of aluminium are listed as on warrant - with the rest canceled and booked for delivery out. By comparison, on-warrant stocks were at well over 1.3 mill...Read More
European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices in Turkey were stable over the week to Friday June 25 while demand decreased, sources told Fastmarkets.The reason for decreasing demand was due to the upcoming summer slowdown in Europe over July and August as well as the fact that feedstock stock levels in Turkey are sufficient, sources said.Furthermore, the European Commissio...Read More
Domestic prices for hot-rolled coil in Europe remained fairly stable on Friday June 25, supported by persistent short supply, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,191.14 ($1,421.24) per tonne on June 25, up by just ?,?0.27 from ?,?1,190.87 per tonne on June 24.The index was also up by ?,?39.14 per tonne w...Read More
Steel mills in India reduced the price of hot rolled coil exports to Southeast Asia by as much as $50 per tonne in the week to Friday June 25, with official offers down to $940-950 per tonne fob Indian ports.According to market participants, however, buyers in Southeast Asia are considering HRC prices closer to $880-890 per tonne fob Indian ports for mid-July- August shipment.Fastmarkets' price as...Read More
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.United States President Joe Biden agrees a $1 trillion infrastructure deal......which should be good for metals because it focuses on upgrading roads, bridges and broadband networksBase...Read More
Centennial celebrations for the founding of the Chinese Communist Party has caused some parts of the ferrous supply chain in China to grind to a halt, market sources told Fastmarkets this week.Construction sites in Jiangsu province have been asked to provide a "safe and stable" social environment for the celebrations of the party's 100-year anniversary, with the provincial executive governor dubbi...Read More
Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020. After a number of cancellations and deliveries out this week, only 941,875 tonnes of aluminium are listed as on warrant - with the rest canceled and booked for delivery out. By comparison, on-warrant stocks were at well over 1.3 mill...Read More
The Commonwealth of Independent States (CIS) export billet market turned quiet at the end of the week to June 25 following news of the Russian government's plan to impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU) from August 1, Fastmarkets heard.Billet is one of the products that will be affected if the government imposes the duties.T...Read More
European Metal Recycling (EMR) will commit to a net zero carbon emissions target across all three emission scopes, the company said on June 24.EMR aims to be carbon neutral by 2040 across scopes 1, 2 and 3 of relevant greenhouse gas emissions, and to provide its customers with traceability of its materials across the supply chain.EMR's goal is to reach net zero for indirect emissions created by th...Read More