Domestic and imported steel reinforcing bar prices in the United States were sideways on Wednesday October 20, but sources noted growing uncertainty around what the rest of the quarter may look like.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on October 20, unchanged since August 11 at its highest since late 2008. Notably...Read More

Hot-rolled coil prices in the United States increased incrementally day on day on Wednesday October 20, but ultimately reflected the ongoing downward trend.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.95 per hundredweight ($1,919 per ton) on Wednesday, up slightly from $95.89 per cwt on Tuesday, but down 0.87% from $96.79 per cwt one week earlier. The index is...Read More

Base metals prices were down across the board on both the London Metal Exchange and Shanghai Futures Exchange this morning, Wednesday October 20, with relatively high volume being seen on the LME.* After the upward spikes in LME cash prices, ahead of the October prime data, it is perhaps not surprising a reality check is underway...* ...but once again let us see how far the pullback goes.* Broader...Read More

Wire rod prices in the United States rose by $40 per short ton ($2.00 per cwt) in October, to hit record highs for domestic and imported low-carbon wire rod, high-carbon wire rod and cold-heading quality wire rod.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $59.50-62.50 per hundredweight ($1,190-1.250 per short ton) on Tuesday October 19, up 3...Read More

3 things that help keep capital projects on trackSPONSOREDproudfootAzure eyes province potential ahead of Andover resourceSPONSOREDazure mineralsAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesThe previous 2030 target, a 15% reduction, should now be reached by 2025, Rio Tinto...Read More

Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on Wednesday October 20.The Ghent employees have rejected a new salary agreement offered by the company, Fastmarkets heard, but no details were revealed.Several sources familiar with the matter said that the steelworkers have filed notice...Read More

Steel rebar producers in Egypt increased their prices by around E ?400-600 ($25-38) per tonne with effect from Wednesday October 20, Fastmarkets has heard.The country's biggest producer, Ezz Steel, was now offering rebar at E ?15,000 ($952) per tonne ex-works including 14% VAT, rising from the previous E ?14,600 per tonne. The price was previously unchanged since May 17.Rebar producers in Egypt...Read More

The price of steel hollow sections in Europe moved downward in the week to Wednesday October 20, due to recent imports and falling feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,230-1,275 ($1,432-1,484) per tonne on October 20, down from ?,?1,275-1,330 per tonne on October 13.Domestic hollow se...Read More

Alongside an otherwise solid set of September quarter production results released on Wednesday, Antofagasta forecast copper production of 660,000-690,000 tonnes for next year, down 7% from 2021Read More

Politicians may be morons when it comes to public policy, but they're geniuses when it comes to inventing new ways to control your life and steal your money.Tax increases seem old-fashioned compared with new 21st-century ways to take over the financial system to your detriment and make you pay for their pet projects. Take climate, for example…We're all familiar with how climate alarm has bee...Read More

Tight ferrous scrap supply in the United States export market is fueling expectations that prices for all grades could jump by as much as $40 per gross ton in November's trade, with domestic prices expected to mimic the recent surge in their exported counterparts."We're on the first stage of the rocket, and we're going to see a $100-per-ton increase by the year end. I think minimum $40 per ton nex...Read More

Turkish steelmakers continued to pay higher prices for deep-sea ferrous scrap cargoes scheduled for shipment in December, market sources told Fastmarkets on Wednesday October 20.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 32,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $502 per tonne and 3,000 tonnes of bonus-grade scrap at $522 per tonne cfr.Pre...Read More

Taiwan's import prices for containers of steel scrap were expected to continue to rise because of a huge premium for bulk import prices over material arriving in containers, market sources told Fastmarkets on Wednesday October 20.?EUR?Taiwanese buyers continue to book containerized cargoes?EUR?Chinese market muted by wide bid-offer gaps?EUR?China's ferrous scrap import volumes down by 49% month on...Read More

Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.07 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.21 per tonne, down $0.22 per tonne58% Fe fines high...Read More

Seaborne coking coal prices remained relatively stable on Wednesday October 20 with no trading activity. In China, market participants were cautious after the National Development and Reform Commission (NDRC) held meetings on thermal coal price controls on Tuesday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, unchangedHard coking coal, cfr Jingtang: $563.37 per tonn...Read More

The mayor of China's Yulin city, Shaanxi province, has urged local state-owned coal mines to lower thermal coal prices by 100 yuan ($16) per tonne and set price ceilings for long-term coal supply contracts.Thermal coal in term contracts with state-owned coal miners should not be sold at more than 1,200 yuan per tonne, while privately-owned enterprises should be offered at no more than 1,500 yuan p...Read More

Spot prices for hot-rolled coil in China fell on Wednesday October 20, after futures tumbled to a one-week low amid a broad-based decline led by coal-related products.DomesticEastern China (Shanghai): 5,700-5,780 yuan ($892-904) per tonne, down by 20-80 yuan per tonneThe most-traded January HRC contract on the Shanghai Futures Exchange shed 186 yuan per tonne (3.24%) from the previous day's closin...Read More

China's domestic rebar prices decreased on Wednesday October 20 amid weak demand following a sharp decrease in coal futures. Domestic Eastern China (Shanghai): 5,700-5,740 yuan ($891-897) per tonne, down by 30 yuan per tonneChina's National Development & Reform Commission (NDRC) plans to address the issue of high coal prices to ensure sufficient supply of the material ahead of the country's heatin...Read More

The London Metal Exchange three-month copper price traded slightly lower during morning trading on Wednesday October 20 following the exchange's amendments designed to maintain order in the copper market the previous day.The LME imposed a series of temporary measures to maintain an orderly copper market after wild outright and spread price moves and dwindling inventories in recent days, the exchan...Read More

Key data from Fastmarkets' pricing session in Europe on Wednesday October 20.Key drivers?EUR?European ferro-titanium suppliers held their offer prices steady in the week to Wednesday October 20 ahead of an expected major tender from major South Korean steelmaker Posco due by the end of the month.?EUR?Suppliers expected Posco to request offers from suppliers for a yearly contract to cover 2022. The...Read More