The European Union Council of Ministers has accepted a proposal that steel, iron and non-ferrous metal producers should be allocated free carbon allowances under the EU emissions trading system (EU ETS) until 2030. The decision, backing a proposal from the European Commission, has been made because of concern that steel and other metal production could move outside the EU if the industry was force...Read More
Turkish steel mills made a booking for scrap from the United States at a higher price compared with earlier this week, while another cargo transaction heard earlier today has since been disputed by the seller, sources said on Thursday April 11.A steel producer in the Iskenderun region booked a US-origin cargo comprising of HMS 1&2 (80:20) at $308 per tonne and shredded-scrap material at $313 per t...Read More
The halving of China's new energy vehicle (NEV) subsidies will have a positive impact on the production of lithium-ion phosphate (LFP) batteries in the short term, but nickel-cobalt-manganese (NCM) lithium-ion battery development will benefit in the long run, delegates heard at Fastmarkets' Battery Materials conference in Shanghai on Thursday April 11. "The values of subsidies have been cut signif...Read More
Healthy growth in nickel demand from the stainless steel and battery sectors and shrinking inventories on the Shanghai Futures Exchange and London Metals Exchange bodes well for nickel prices, according to Macquarie Capital senior commodities consultant Jim Lennon. "Our view is that, we have these two drivers in demand: stainless steel and batteries, and nickel inventories have been falling over t...Read More
The domestic prices for hot-rolled coil (HRC) in Europe have moved down slightly over the week although market sentiment is largely negative, sources told Fastmarkets.The only positive factor supporting domestic prices was high import offers, but it is unlikely to help EU mills to keep prices stable, market participants said.Buying activity has been low, with some buyers who had their stocks decre...Read More
China's hot-rolled coil prices stopped retreating on Thursday April 11 - and even rebounded in the eastern region - amid steady demand.DomesticEastern China (Shanghai): 3,980-3,990 yuan ($593-594) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedA Hangzhou-based trader said the day's trading activity was slightly higher than a day earlier amid continual...Read More
China's major mills cut their daily output rates for crude steel in late March and their inventories of finished steel also dropped.Members of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.83 million tonnes per day during the last 11 days of March, down 3.56% from 1.9 million tpd in mid-March, according to data released by...Read More
Prices for domestic rebar in Turkey increased over the past seven days because of the Turkish lira weakening, with demand remaining low, sources said on Thursday April 11.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,320-3,335 ($583-586) per tonne ex-works on Thursday, rising from TRY3,200-3,250 per tonne ex-works previously, where the price had remained since March 28...Read More
Turkish rebar export prices have decreased over the past week because offer prices have been pushed down by lower scrap costs, sources said on Thursday April 11.Fastmarkets' weekly price assessment for rebar exports from Turkey was $480-485 per tonne fob on an actual weight basis on Thursday, falling from $485-490 per tonne fob.Turkish steel producers offered rebar for export...Read More
The import price for steel billet went down in Egypt in the week ended Thursday April 11, with demand remaining weak, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $455-458 per tonne cfr on Thursday, falling from $460-470 per tonne cfr last week.CIS-origin billet was offered to the country at $458-460 per tonne cfr but buyers believed $455 per...Read More
Turkish steel mills made a booking for scrap from the United States at a higher price compared with earlier this week, while another cargo transaction heard earlier today has since been disputed by the seller, sources said on Thursday April 11.A steel producer in the Iskenderun region booked a US-origin cargo comprising of HMS 1&2 (80:20) at $308 per tonne and shredded-scrap material at $313 per t...Read More
Brazilian iron ore fines traded at higher prices on Thursday April 11, especially for the 65% Fe Iron Ore Carajas (IOCJ), amid a drop in shipments from the country and a rise in steelmaking margins in China.MB 62% Fe Iron Ore Index: $95.65 per tonne cfr Qingdao, up $1.04 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.77 per tonne cfr Qingdao, up $1.04 per tonne. MB 62% Fe Iron Ore Index-Low A...Read More
Expectations for steel slab prices remained weak in most regions of the world in the week ended Thursday April 11, despite low availability of material from producers in the CIS.Prices of slab have started to take a downward trend in many regions, such as Asia and the CIS, while Brazilian prices have been flat.High raw materials costs were affecting producers' ability to reduce prices further, but...Read More
The Turkish billet import market was quiet this week, with demand for imported material still soft and the export and domestic markets remaining slow, sources said on Thursday April 11.Suppliers in the CIS region decreased their offers to $450-455 per tonne cfr because of the poor demand as well as lower prices for scrap feedstock.Fastmarkets's daily index for Northern Europe-origin HMS 1&2 (80:20...Read More
The import price for steel billet went down in Egypt in the week ended Thursday April 11, with demand remaining weak, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $455-458 per tonne cfr on Thursday, falling from $460-470 per tonne cfr last week.CIS-origin billet was offered to the country at $458-460 per tonne cfr but buyers believed $455 per...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
China's stainless steel prices were stable over the past week, but participants said they expect prices will drop soon.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,400-14,800 yuan ($2,144-2,204) per tonne including value-added tax for the week ended Wednesday April 10, unchanged from a week earlier.Buyers maintained a sl...Read More
The European Union Council of Ministers has accepted a proposal that steel, iron and non-ferrous metal producers should be allocated free carbon allowances under the EU emissions trading system (EU ETS) until 2030. The decision, backing a proposal from the European Commission, has been made because of concern that steel and other metal production could move outside the EU if the industry was force...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday April 11 that are worth another look.Growing demand for lithium compounds used in lithium-ion (li-ion) batteries such as lithium carbonate and lithium hydroxide over the past three years has prompted lithium producers to expand total production while diversifying their investments in different lithium operations to ramp up...Read More
Helmut Gruber has been appointed as the new technical director of the steel division of Voestalpine, the Austrian company said late on Wednesday April 10.Gruber, 47, will begin his new role on July 3 and will remain in his current role in the technical management of steel-strip production until then.Gruber will replace...Read More