The price of alloy-grade cobalt has risen above that for its standard-grade counterpart for the first time in six weeks, Fastmarkets heard on Thursday April 1, with cheap standard-grade parcels available from sellers looking to take profit.This situation bucked a recent trend where standard-grade metal had been trading mostly at a premium due to strong demand for briquettes downstream.Broken catho...Read More
The spot price for light iron steel scrap in the United Kingdom went up during the week to Thursday April 1, climbing with domestic dealers competing more keenly for supplies against firmer demand for exports out of Europe to the key overseas buyer, Turkey, sources have told Fastmarkets.The price was up mostly in areas close to UK ports, where domestic steel scrap demand was strongest from major s...Read More
Offer prices to the key import steel scrap market in Bangladesh have gone up over the past week, but demand for scrap material was low ahead of the Islamic holy month of Ramadan, sources told Fastmarkets on Thursday April 1.Import markets across Asia have received higher offers for steel scrap this week, with strong rebar and billet markets giving many steelmakers excellent margins and more room t...Read More
Steel mills around the world are buying ferrous scrap at higher prices, spurred by rebounding downstream steel prices in the rebar and billet markets.Turkey sees price rebound and correction in one weekUS sees sales to Turkey, AsiaVietnamese mills increase bidsChinese buyers also raise bidsTight scrap supplyin TaiwanIndian prices higher on good sentiment.TurkeyA major Turkish steel mill supported...Read More
Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.United States treasury 10-year yields remain upbeat, as does the dollar China's Caixin manufacturing purchasing managers' index (PMI) at 50.6 showed slower growth in March, compared with 50.9 in Februar...Read More
The price of alloy-grade cobalt has risen above that for its standard-grade counterpart for the first time in six weeks, Fastmarkets heard on Thursday April 1, with cheap standard-grade parcels available from sellers looking to take profit.This situation bucked a recent trend where standard-grade metal had been trading mostly at a premium due to strong demand for briquettes downstream.Broken catho...Read More
Britishvolt, a United Kingdom-based lithium-ion battery producer, has initiated fundraising plans in the United States to support its gigaplant project in Northumberland, UK, it said on Thursday April 1. The company aims to raise ?300 million-350 million ($413 million-482 million) by the end of the summer and to start production at its Blyth, Northumberland plant in the fourth quarter of 2023. Br...Read More
A summary of China-headquartered Ganfeng Lithium's 2020 annual report, released by the company on Wednesday March 31.In briefTotal Revenue: 5.52 billion yuan ($841.2 million), up by 3.41% year on yearRevenue in domestic Chinese market: 3.92 billion yuan, up by 11.89% year on yearRevenue in international market: 1.60 billion yuan, down by 12.79% year on yearNet profit: 402.22 million yuan, down by...Read More
The import market for flat-rolled steel came to a stop in South America in the week to Thursday April 1, with mills in China mills mostly withdrawing from exports, or refraining from offering to the region.The trigger for this was the doubt in the East Asian country about its final decision on an export tax rebate cut, market participants told Fastmarkets.Some Chinese steelmakers did offer exports...Read More
Prices in Turkey for steel hot-rolled coil came close to $1,000 per tonne during the week ending Thursday April 1, with producers fully booked until late July, sources have told Fastmarkets.Demand was strong in the country because of low stock levels, as well as the expectation of more price increases.Most market participants expected further price increases next week, because of globally high pri...Read More
Hot-dipped galvanized (HDG) and pre-painted galvanized iron, or color-coated coil, prices in Turkey increased as expected during the week to Thursday April 1, with demand still strong, sources told Fastmarkets.The price increases were expected due to strong demand and globally high prices, along with continuously rising production costs.Prices for hot-rolled coil (HRC) - the base product for...Read More
Steel rebar prices in Egypt remained unchanged in the seven days to Thursday, April 1, on continuing weak demand, sources told Fastmarkets.Demand for rebar in the country has been weak since the imposition of a construction ban in May 2020, even though the rules were eased slightly in September 2020.Market participants expected the construction ban to be further eased, leading to an increase in de...Read More
Turkish rebar and wire rod export prices have increased over the past week in line with strengthening demand and rising imported scrap costs, market sources told Fastmarkets on Thursday April 1.Several steel producers were heard selling good tonnages to Southeast Asia in recent weeks.A steel mill in the Izmir region sold a rebar cargo to the region at $636 per tonne fob on an actual weight basis,...Read More
Domestic long steel prices in Turkey continued to increase in the seven days to Thursday April 1, due to the weakening Turkish lira and despite very limited demand, sources told Fastmarkets.The lira started a sharp decline at beginning of last week, following the surprise sacking of the central bank chief Naci Agbal by president Recep Tayyip Erdogan and the subsequent appointment of finance specia...Read More
Pig iron export prices from the south of Brazil softened in the week to Thursday April 1 in new sales.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500-515 per tonne on Thursday, widening downward from $510-515 per tonne at the end of the preceding week.One sale...Read More
Pig iron export prices from the Commonwealth of Independent States (CIS) increased during the week to Thursday April 1, amid new sales to neighboring markets and suppliers' bullish mood. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $535-542 per tonne on Thursday, up from from $520-530 per tonne a week before.The most-recent sales of Ukr...Read More
The pig iron import market in the United States was slow during the week to Thursday April 1 due to the large gap between the workable price estimates for buyers and from suppliers in the Commonwealth of Independent States.Consequently, Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $555-565 per tonne on Thursday, unchanged week on week."The US is the only market w...Read More
Slab export prices from Brazil were stable in the week ended Thursday April 1, with most sellers already sold out of May-shipment volumes, but are mulling over new price increases for April.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $780-810 per tonne fob on Friday, unchanged from the previous week.Next week, sellers are considering price increases o...Read More
A global shortage of steel slab is a key factor in rocketing flat steel prices, market sources told Fastmarkets this week.Reduced CIS suppliesCustomers from Italy and Turkey have noticed a reduction in the availability of steel slab originating in the Commonwealth of Independent States (CIS) region in the second half of March."Some Italian re-rollers cannot produce much coil and plate due to missi...Read More
China is signaling a new stance on environmental inspections and production curbs with a new policy which will see inspectors trawling the steel sectors in eight provinces.Inspectors will visit Shanxi, Liaoning, Anhui, Jiangxi, Henan, Hunan, Guangxi and Yunan to ensure that China continues to meet environmental protection policies and reduce emissions as well as checking the performance and implem...Read More