The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for global long steel markets remain good and indicate a satisfactory first quarter of 2022.The global long steel products market is stable at the moment and should remain so in the next quarter despite many uncertainties including power shortages and costs, logistical challenges, the Evergrande...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
The Russian Federation's Ministry of Finance is preparing a list of machine-building plants to be excluded from a liquid steel excise tax, Aleksey Sazonov, Russian Federation deputy minister of Finance said on November 8 during a State Duma committee meeting on budget and taxes."A number of Russian machinery-building plants have their own small steelmaking capacities...They will be excluded from e...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely stable during the seven days up to Monday November 8, because of slow activity after a national holiday and Covid-19 restriction measures.Market participants continued to report that the available volumes of rebar were limited. This was mostly due to mills giving priority to replenishing their trade houses'...Read More
The governments of the United Kingdom, India, Germany and Canada have announced a pledge to purchase low carbon-emission steel under the Industrial Deep Decarbonization Initiative (IDDI), it was announced on Tuesday November 9.The group of countries announced its intention to buy low-carbon steel and concrete at the UN Climate Change Conference, COP26, in Glasgow, with specific interim targets by...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Index futures moved lower following release of the October Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 0.4% in September. Actual was an increase of 0.9%. Excluding food and energy, consensus was an increase of 0.4% versus a gain of 0.2% in Sept...Read More
London Metal Exchange aluminium stocks dropped below the 1-million-tonne mark for the first time since October 2019 and on-warrant volumes were at their lowest in nearly 16 years on Tuesday November 9, while the metal complex's prices were little changed from the end of trading on Monday.There was a 21,925-tonne fresh cancellation of aluminium on Tuesday, spread mostly between warehouses in Singap...Read More
Growing consumer appetite for sustainable products and tighter regulations on carbon-intensive primary aluminium production, such as the EU's recent proposal for a carbon border adjustment mechanism (CBAM), have seen greater investment in scrap-processing facilities across Europe, providing long-term support for scrap prices as a result.CBAM calls for EU importers of steel and aluminium to pay for...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More
An overview of the chrome ore and alloy markets and their latest price moves in Asia, Europe and the United States on Tuesday November 9.China The domestic spot ferro-chrome market weakened with suppliers lowering their offer prices in an attempt to profitably destock. The weaker ferro-chrome spot market also fed into the imported charge chrome market However, Taiyuan Iron & Steel (Tisco) and...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More
Flat steel import prices to the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday November 9, and the market direction was still uncertain because of different price moves from different regions, sources told Fastmarkets.Hot-rolled coil prices have been decreasing recently in China, but increasing in Europe.On the other hand, Indian flat steel exporters are offering lim...Read More
Ukrainian scrap metal industry association Vtormet has said that a proposed increase in the export duty applied to ferrous scrap should not go ahead without public discussion, in a letter sent to Ukraine's economy ministry on Monday November 8.In an earlier letter to the association dated November 2, the ministry confirmed its intention to impose an increase in the export duty on ferrous scrap to...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday November 5, with buyers passing on minor price adjustments to certain grades.Scrap sellers were putting strong pressure on clients, trying to apply price increases after the United States market reached settlements for November with increases of $20 per gross ton in prime scrap grades, and $40-60 per gross ton on most obsole...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday November 9, but those on the Shanghai Futures Exchange were mainly firmer while they followed the strength seen on the LME on Monday, when the complex closed up by an average of 1.2%.While some of China's data shows a struggling economy, recovery and infrastructure spending elsewhere bode well for metals demand.W...Read More
Prices for hot-rolled coil in the United States weakened after market participants said lead times are narrowing and service centers are not as hungry for inventory this month.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $93.17 per hundredweight ($1,863.40 per short ton) on Tuesday November 9, a decrease of 1% from $94.11 per cwt on Monday and down by 0.7% from $93...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More