Indian steel mills have increased their domestic hot-rolled coil prices by 2,500-5,000 rupees ($34-68) per tonne for sales in June, bringing local prices closer to international HRC prices, Fastmarkets heard on Friday June 4.The price of steel HRC, domestic ex-whse India, was assessed by Fastmarkets at 68,500-70,500 rupees ($938-965) per tonne on Friday, compared with last week's assessment at...Read More
Market activity has been slow in the European hot-rolled coil market because buyers were holding back from new deals to monitor the situation in the global market and to wait for a decision in the regional safeguard measures case, sources told Fastmarkets on Friday June 4.Domestic prices have been supported by good order books at European steelmakers, however, and by limited access to overseas coi...Read More
Mexican light vehicle production reached 241,442 units in May 2021, according to figures released by national statistics agency, Inegi, on Friday June 4.That marks an increase of 956.08% from the 22,862 units produced in the same month a year before, when production was negatively affected by stoppages...Read More
The price of stainless steel scrap in the UK and Europe moved upward this week amid higher nickel costs and persistent short supply, Fastmarkets heard on Friday June 4.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, widened upward week on week to ?1,150-1,240 ($1,626-1,753) per tonne on Friday, compared with ?1,150-1,180 per tonne pre...Read More
Prices for inter-merchant light iron scrap in the United Kingdom were stable for the second consecutive week on Friday June 4, with suppliers maintaining their offer prices amid firm domestic demand despite some mixed signs in export markets, trade sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?170-180 ($240-...Read More
Russian steel maker Severstal and Russian natural gas producer Novatek have signed a Memorandum of Cooperation to explore hydrogen, alternative energy and greenhouse gas emission reduction technologies, the companies said at the St Petersburg International Economic Forum on June 4.Alexey Mordashov, Severstal chairman of the board of directors, and Leonid Mikhelson, chairman of the management board...Read More
Brazilian iron ore producer Vale has halted part of the railroad it uses for exports following a warning from an authority about tailings dam risks, causing a production stoppage at its Timbopeba plant and Alegria mine, the company said on Friday June 4.The disruption will result in a production loss of 33,000 tonnes per day of iron ore fines at Timbopeba and 7,500 tpd at Alegria, it said. Both un...Read More
Member mills of China's Iron & Steel Association (Cisa) reduced their output rates of crude steel and hot metal in late May compared to the preceding 10 days, data from the association late on Thursday June 3 shows.May 21-31 output - (change from the 10-day period ended on May 20)Crude steel: 2.29 million tonnes per day, down by 3.92%Finished steel: 2.30 million...Read More
Market activity has been slow in the European hot-rolled coil market because buyers were holding back from new deals to monitor the situation in the global market and to wait for a decision in the regional safeguard measures case, sources told Fastmarkets on Friday June 4.Domestic prices have been supported by good order books at European steelmakers, however, and by limited access to overseas coi...Read More
Domestic steel wire rod producers in Poland have nearly finalized June bookings and are yet to quote for July, while prices for imports surged amid strong demand and short supply, sources told Fastmarkets on Friday June 4.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 3,700 zloty ($1,009) per tonne on Friday, narrowing upward by 50 zloty f...Read More
London Metal Exchange base metals prices recovered swiftly at the close of Friday June 4 after lighter-than-expected US employment data kicked down the dollar index, following a Thursday session where decreases averaged 2.5%. Copper's three-month price rebounded to $9,955 per tonne on Friday at the close, a 1.7% rise from Thursday's $9,788.50 per tonne 5pm price. At the same time on Thursday, the...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday June 4.China The ferro-silicon market became bullish following news that a major Malaysian ferro-silicon producer has issued a two-week production suspension, with supply shifting to China and suppliers' offers broadly holding offers firm. The export ferro-silicon price went higher due to tight spot availa...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday June 4. China Seaborne low- and high-grade manganese ore markets jumped as much as 12.31% after miners raised offers for July shipment amid protracted high freight rates and a strengthening South African rand. Sentiment was boosted by news that Ningxia province, China's second largest silico-ma...Read More
China's customs authorities will no longer require imports of some hot-rolled and cold-rolled coil to undergo inspections from June 10, the General Administration of Customs said on Tuesday June 1.The products affected, under the 10-digit Harmonized System (HS) code, include:7208261000 Other high-strength HRC of a thickness of 3mm or more but less than 4.75mm 7208269000 Other HRC of a thickness...Read More
Fastmarkets' copper concentrate treatment charge and refining charge (TC/RC) index gained further upward momentum on Friday June 4 amid limited spot buying interest from Chinese smelters who are undergoing maintenance work. The index is now at its highest level since late February when it was at $35.80 per tonne / 3.58 cents per lb. This week, a few spot parcels of standard concentrate w...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
The pig iron import market in the United States was firm during the week to Friday June 4 because buyers needed to accomplish further restocking.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $665 per tonne on Friday, unchanged week on week.Sources had estimated the market level at $665 per tonne and one fresh booking of Russia-origin material was reported at this...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Ewa Manthey, Charlotte...Read More
Appetites for steel scrap exports were broadly subdued in the week to Friday June 4, with the exception of imports into India and Pakistan.Turkey cooled its importing activity amid softer demand for finished steel, adjusting offers downwardPrices for cargoes from the East and West Coasts of the US divergedVietnamese importers stayed out of the market amid price-trend confusionChinese appetites wer...Read More