Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...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
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
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
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
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
Brazil's automotive production dropped by 24.8% year on year in October amid a global microchip shortage and a stoppage of truckers in the Port of Santos, S??o Paulo.Light vehicle production totaled 177,900 units last month, compared with 236,500 units a year earlier.Anfavea, the national association of motor vehicle manufacturers, said that production was affected by suspensions among carmakers b...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
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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 alloy grade, in-whs Rotterdam, $/lb at...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
Turkish steel producers were mostly quiet on the second working day of the week amid firm offers from Baltic Sea and US suppliers, market participants told Fastmarkets on Tuesday November 9.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 pe...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
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...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
Seaborne iron ore prices fell on Tuesday November 9 amid weak demand for steel in northern China (due to the colder weather) and rising inventories at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.30 per tonne, down $1.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.46 per tonne, down $1.09 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Domestic prices for hot-rolled coil across Europe were fairly stable on Tuesday November 9 due to limited trading, sources told Fastmarkets.Despite slow market activity, bullish sentiment prevails in the market, particularly for material produced and delivered in the first quarter of 2022. Upward sentiment has been supported by higher energy, transportation and emission costs faced by European ste...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
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 recent downward correction in aluminium prices and premiums was expected after a strong uptrend in 2021, but tighter supply from China is set to continue supporting high prices, Brazilian aluminium producer Companhia Brasileira do Alum?-nio (CBA) said on Tuesday November 9.Chinese aluminium output cuts, meant to reduce carbon emissions, deepened a global supply deficit in the third quarter. Es...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