Silkroad Nickel will supply China's biggest stainless steel producer with 2.7 million tonnes of high-grade nickel ore from March until December 2022, the company said on Monday March 15.Silkroad Nickel, a laterite nickel ore producer in Indonesia has signed an offtake agreement with Ekasa Yad Resources, a unit of Tsingshan Holding Group, in which it will supply 2.7 million tonnes of high-grade nic...Read More
Domestic prices for hot-rolled coil in Northern Europe have been supported by a material shortage in the market, sources told Fastmarkets on Tuesday March 16.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?792.50 ($943.31) per tonne on March 16, up by just ?,?1.25 per tonne from ?,?791.25 per tonne on Monday March 15.The index was also up by ?,?36....Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
Steel billet and rebar buyers in the United Arab Emirates preferred to wait during the week to Tuesday March 16 so any price changes were small, sources told Fastmarkets.Rebar producers in the UAE are expected to announce new prices soon so buyers are waiting to place import orders, market participants said.The country's steel producers are officially offering rebar at 2,530-2,545 dirhams ($689-69...Read More
Independent traders in Europe have joined forces to oppose the extenstion of safeguard measures against 26 steel product categories, sources told Fastmarkets on Tuesday, March 16.A consortium of 33 mostly medium and small businesses connected to the steel trade and steel processing have teamed up to form 'Companies Against Import Restrictions' (Cair) to fight against protectionism in the Euro...Read More
Steel rebar and wire rod producers in the Commonwealth of Independent States (CIS) had to decrease their asking prices to foreign customers in mid-March because of unsupportive market fundamentals.Falling prices for steel scrap and for iron ore in the week ended March 12, together with insufficient demand for finished long steel products, forced suppliers to cut their offers to attract customers.R...Read More
Prices for No1 busheling steel scrap in Mexican main markets increased in the week ended on Friday March 12, while upward pressures grew for other grades as well.Buyers continued to increase prices for prime scrap to secure volumes. In rare cases, the material was heard trading above 10,000 pesos ($473) after the second consecutive week of strong buying activity.Prices of obsolete grades, suc...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
Falling steel scrap prices in Japan and continued uncertainty over whether Chinese port authorities will allow ferrous scrap cargoes to discharge remain key considerations for buyers in China, many of whom lowered their bids this week, sources said.Bids for heavy scrap (HS) from buyers peaked at $480 per tonne cfr China on Tuesday March 16, while offers were at $480-499 per tonne cfr China.South K...Read More
Export prices for steel billet in the Black Sea basin have continued to soften in mid-March amid a lack of trading activity, Fastmarkets has heard.Customers preferred to refrain from billet bookings while the costs for steel scrap and finished long steel products were falling.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $430.63 p...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
The global steel industry has never been an easy one to navigate but now the onslaught of Chinese steel production has affected many steelmakers around the world, Fastmarkets heard.The surge in Chinese steel exports in the last few years and the expansion of Chinese steel companies into Southeast Asian countries, such as Malaysia and Indonesia, have led many companies to rethink their commercial a...Read More
Finished steel production at member mills of the China Iron & Steel Association (Cisa) decreased by 10.97% over the March 1-10 period, compared with the preceding eight days, according to data published by the association on March 13.March 1-10 outputCrude steel: 2.27 million tonnes per day, down 2.08%Finished steel: 2.12 million tpd, down...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 16.Read More
Prices for No1 busheling steel scrap in Mexican main markets increased in the week ended on Friday March 12, while upward pressures grew for other grades as well.Buyers continued to increase prices for prime scrap to secure volumes. In rare cases, the material was heard trading above 10,000 pesos ($473) after the second consecutive week of strong buying activity.Prices of obsolete grades, suc...Read More
Domestic prices for hot-rolled coil in Northern Europe have been supported by a material shortage in the market, sources told Fastmarkets on Tuesday March 16.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?792.50 ($943.31) per tonne on March 16, up by just ?,?1.25 per tonne from ?,?791.25 per tonne on Monday March 15.The index was also up by ?,?36....Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More