Hot-rolled and cold-rolled coil prices increased in Turkey during the week to Friday October 15, following the sharp increase in scrap prices, sources told Fastmarkets.Turkey's scrap import prices jumped during the week on new deals done at higher levels.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $486 per tonne on October 14, up from $450.14 p...Read More
The market for pig iron exports from the south of Brazil went up during the week to Friday October 15 because of new sales, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500 per tonne on Friday, up from $480-485 per tonne a week earlier.Two sales were heard at...Read More
The inter-merchant market for light-iron steel scrap in the United Kingdom was steady for a fourth week on Friday October 15, supported by strong export markets and tight availability of scrap in all areas, trade sources told Fastmarkets.Prices for light iron were further cemented on this week's settlement of monthly delivery prices into domestic steel mills, which were agreed at stable or higher...Read More
The price of stainless steel in Europe was stable this week but mills were expected to try to push through increases because of higher energy costs, despite the fact that demand has slowed in recent weeks, Fastmarkets heard on Friday October 15.An Italian mill was said to be hoping to implement a ?,?20 ($23) per tonne energy surcharge in order to recoup some of its expenditure on rising energy cos...Read More
Seaborne coking coal prices stayed largely stable in the cfr China market but decreased in the fob market on Friday October 15, amid weak offers and bids.Prices for seaborne pulverized coal injection (PCI) increased in both the cfr China and fob Australia market in the week to October 15 due to supply tightness in both markets, market sources said on Friday.Fastmarkets indicesPremium hard coking c...Read More
Most prices for flat-rolled steel products imported into South America were down during the week ended Friday October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in the region.While some offers from China emerged at higher levels, following a week-long holiday in the Asian country, reduced export availability to S...Read More
Japanese steelmaker Nippon Steel is suing compatriot automaker Toyota and Chinese mill Baosteel on claims that the two had infringed on its patent for non-oriented electrical steel sheet. In its suit filed at the Tokyo district court on Thursday October 14, Nippon Steel is also seeking an injunction to prohibit Toyota from manufacturing and selling motor-driven vehicles equipped with motors using...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 15.Susan Zou, Yingchi Yang and...Read More
The price of stainless steel in Europe was stable this week but mills were expected to try to push through increases because of higher energy costs, despite the fact that demand has slowed in recent weeks, Fastmarkets heard on Friday October 15.An Italian mill was said to be hoping to implement a ?,?20 ($23) per tonne energy surcharge in order to recoup some of its expenditure on rising energy cos...Read More
The European Commission (EC) has extended anti-dumping duties on imports of wire rod from China until 2026, the Official Journal of the European Union said on October 13.The EC concluded that dumping would likely recur if the current measures were allowed to lapse. This followed an expiry review lodged by the European steel association, Eurofer, in July 2020 on behalf of...Read More
Poland's steel rebar market remained flat in the week to October 15, but sources expect producers to seek higher prices due to high energy costs, sources told Fastmarkets on Friday.Rebar offers from local mills were at 3,600-3,700 zloty ($913-938) per tonne ex-works, but some had already finished October sales and are yet to return with November offers."ArcelorMittal is expected to announce new pr...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
The major car-manufacturing countries in Europe recorded double-digit percentage drops in sales volumes in September 2021 due to the continuing global semiconductor shortage, the European Automotive Manufacturers Association (ACEA) said on Friday October 15.EU passenger car registrations decreased by 23.07% year-on-year to 718,598 units in September, the lowest number of registrations for a Septem...Read More
Less stringent restrictions on power supply in some areas of China have led to a boost in steel production levels and ferrous scrap demand at some mills in recent days, sources told Fastmarkets on Friday October 15.?EUR?Less strict power rationing helps support China scrap prices?EUR?Import prices in China inch up amid higher bids from buyers?EUR?South Korea buys high-grade Japanese scrap.ChinaThe...Read More
A lack of trading across Europe kept domestic prices for hot-rolled coil fairly stable on Friday October 15, sources told Fastmarkets.Bearish sentiment is prevailing in the market, supported by poor demand from the automotive sector and good domestic supplies. Buyers and sellers have mainly been holding back from making deals, with only limited volumes traded in Europe during the week, sources sai...Read More
Steel wire rod prices in Poland were broadly flat in the week to Friday October 15, while market sources expect producers to increase prices in November due to higher energy costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland remained at 3,800-3,900 zloty ($964-989) per tonne on Friday, unchanged from the previous we...Read More
Coated steel coil prices increased sharply in Turkey during the week ended Friday October 15 and some producers stopped accepting new orders, sources told Fastmarkets.Producers stopped accepting orders because prices for hot-rolled coil, the base material for coated coils, continued to increase and producers wanted to reflect cost increases in their end-product prices.Fastmarkets' weekly price ass...Read More
The three-month zinc price on the London Metal Exchange reached a 14-year high of $3,750 per tonne on Friday October 15, with prices and premiums spiking amid concerns over supply in Europe and the United States.Friday's price represents its highest level since 2007 and a 16.4% increase from the start of the week, with the contract closing at $3,222 per tonne on Monday. "The threat of further prod...Read More
A summary of global mining company Rio Tinto's third-quarter production results.In brief: Aluminium production was 3% lower than in the third quarter of 2020 due to strike action at the Kitimat smelter. On October 2, Rio Tinto reached a new Collective Labor Agreement for its British Columbia operations, which includes the Kitimat smelter and the Kemano hydropower facility. The smelter will steadil...Read More
Metals and battery materials company Umicore has signed long-term lithium supply agreements with China's Ganfeng Lithium and Germany's Vulcan Energy Resources, the Belgian company announced on Friday October 15.Ganfeng Lithium, based in Jiangxi, southeast China, will provide Australian-origin lithium from 2022 for "a significant part of Umicore's future lithium requirements in Asia," a press relea...Read More