Iron ore prices increased slightly on Thursday March 18, after China announced that the emissions restrictions being imposed in Tangshan will be less strict than previously anticipated, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.62 per tonne, up $0.43 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.98 per tonne, up $0.71 per tonne58% Fe fines high-grade premium,...Read More
The Turkish steel billet markets have remained weak over the past seven days with limited sales and falling prices due to softer scrap costs, sources said on Thursday March 18.Turkish deep-sea scrap import prices have been falling since late last week due to increased supplies.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $438.17 per tonne on March 17, d...Read More
European ferro-titanium producers have started negotiations for deliveries of the alloy to consumers in the steel sector between April and June, and while no prices have yet been discussed, an acute shortage of titanium scrap will be a key issue for suppliers, producers told Fastmarkets this week.Ferro-titanium producers have been holding back from securing new deals for their intake of scrap and...Read More
The UK steel industry is a key focus of the British government's ?1 billion ($1.4 billion) Industrial Decarbonization Strategy, which is intended to create the world's first low-carbon industrial sector.The strategy includes a commitment to work with the recently reconstituted Steel Council to consider the implications of a recommendation from the Climate Change Committee and to set targets for o...Read More
Rogesa, a joint subsidiary of German steelmakers Dillinger and Saarstahl, has installed new equipment which will result in reduced carbon emissions and additional energy generation, the company announced on Wednesday March 17.The new dedusting system for the circular cooler - a rotating belt on which the sinter cools - has been installed at sinter plant 3 of Rogesa Roheisengesellschaft Saar in Dil...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 18 that are worth another look.Brazilian apparent steel consumption increased 24.5% year on year in February, while crude steel output grew 3.8% in the same comparison, according to figures from national steel association, A??o Brasil. ...Read More
Hot-rolled coil prices in the United States have surged above $65 per hundredweight ($1,300 per short ton), and there is no sign that the rally will end any time soon, according to market participants. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $65.24 per cwt ($1,304.80 per ton) on Thursday March 18, up by 0.69% from $64.79 per cwt on Wednesday March 17 and by 1....Read More
European ferro-titanium producers have started negotiations for deliveries of the alloy to consumers in the steel sector between April and June, and while no prices have yet been discussed, an acute shortage of titanium scrap will be a key issue for suppliers, producers told Fastmarkets this week.Ferro-titanium producers have been holding back from securing new deals for their intake of scrap and...Read More
South African manganese miner UMK will stop road transportation of manganese ore due to significant pressure from rising logistical costs, a company spokesperson told Fastmarkets on Thursday March 18.While the miner will honor existing contractual obligations, it will not pursue further road transportation options due to rising freight costs making certain export channels economically unfeasi...Read More
Here are five Fastmarkets stories you might have missed on Thursday March 18 that are worth another look.Brazilian apparent steel consumption increased 24.5% year on year in February, while crude steel output grew 3.8% in the same comparison, according to figures from national steel association, A??o Brasil. ...Read More
Chinese market participants expect steel output to stay high in March amid a profit recovery, even after the government ordered mills in Tangshan to cut production for environmental protection, Fastmarkets heard.On March 11, Huang Runqiu, minister of ecology and environment, visited four mills in Tangshan - the steelmaking hub in northern China - and found all of them had been running at high oper...Read More
Zinc's futures price showed the biggest fall among the base-metals complex at the close of trading on the London Metal Exchange on Thursday March 18, with consolidation in the complex continuing, while tin's price edged close to the $26,000 per tonne mark.Zinc was trading at $2,792 per tonne at the 5pm close on Thursday after being above the $2,800 per tonne mark for the past week. Its closing pri...Read More
Iron ore prices increased slightly on Thursday March 18, after China announced that the emissions restrictions being imposed in Tangshan will be less strict than previously anticipated, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.62 per tonne, up $0.43 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.98 per tonne, up $0.71 per tonne58% Fe fines high-grade premium,...Read More
Zinc's futures price showed the biggest fall among the base-metals complex at the close of trading on the London Metal Exchange on Thursday March 18, with consolidation in the complex continuing, while tin's price edged close to the $26,000 per tonne mark.Zinc was trading at $2,792 per tonne at the 5pm close on Thursday after being above the $2,800 per tonne mark for the past week. Its closing pri...Read More
Turkish steel mills continued to stay out of the deep-sea scrap market on continuing weak demand for steel, despite the increasing availability of supplies, especially from the Baltic Sea, sources told Fastmarkets on Thursday March 18.The most recent deep-sea bookings were done at the end of last week, when two Baltic Sea cargoes were sold at $435-437 per tonne cfr on a heavy melting scrap 1&2 (80...Read More
London Metal Exchange nickel was the only metal to make small gains on Thursday March 18 morning, with the rest of the complex trading sideways following the US Federal Reserve's reiterated stance on interest rates on Wednesday evening."Fed Chair Jerome Powell said there's no need to react to climbing Treasury yields [with the 10-year notes yield hitting 1.73 on Thursday morning because] officials...Read More
China's refined copper output came in at 1.63 million tonnes in January and February 2021, up by 12.3% year on year, National Bureau of Statistics data out on Wednesday March 17 showed.The low production base a year ago is one of the main contributions to the output growth, Fastmarkets understands."In January and February last year, we had a low production figure due to Covid-led output disruption...Read More
Brazilian apparent steel consumption increased 24.5% year on year in February, while crude steel output grew 3.8% in the same comparison, according to figures from national steel association, A??o Brasil.Apparent steel use reached 2.13 million tonnes last month, up from 1.71 million tonnes a year earlier.Meanwhile, crude steel production totaled 2.85 million tonnes in February, from 2.74 million t...Read More
The UK steel industry is a key focus of the British government's ?1 billion ($1.4 billion) Industrial Decarbonization Strategy, which is intended to create the world's first low-carbon industrial sector.The strategy includes a commitment to work with the recently reconstituted Steel Council to consider the implications of a recommendation from the Climate Change Committee and to set targets for o...Read More
The mood in the European hot-rolled coil market has become bullish due to a combination of a material shortage and strong demand, sources told Fastmarkets on Thursday March 18.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?792.50 ($944.71) per tonne on Thursday, up by ?,?1.25 per tonne from ?,?791.25 per tonne on March 17.The index was also up by...Read More