An overview of the consumer electronics markets and their latest price moves.Fola Malomo and Janie...Read More
Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of innovative technologies, it announced on Thursday October 14.Over the past decade, the company has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave techno...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has announced measures intended to reduce its consumption of natural gas after an increase in global prices.The company did not say whether the measure would affect its steel production, but it planned to gradually replace natural gas with gas generated in the steelmaking process.Ahmsa is a major steel producer and ferrous scrap consu...Read More
Iranian exporters sold significant quantities of steel billet and slab via tender in the week to Wednesday October 13, achieving small, but firm price increases on the deals, sources told Fastmarkets.Fastmarkets' price assessment for steel billet, export, fob ports Iran increased to $640.00-642.50 per tonne fob on October 13, up by $2.50-5.00 per tonne from $635-640 per tonne fob a week earlier.On...Read More
Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operation...Read More
Regulation has been an important driver for the push toward clean energy technologies but industry has accelerated this mindset, the chief executive officer of Nth Cycle said.According to Megan O'Connor, the past several administrations in the United States have prioritized establishing a domestic supply of critical minerals used to power the energy transition. "Whether rare earths for critical de...Read More
Turkish steel mills are continuing to book deep-sea scrap at higher prices, market participants told Fastmarkets on Thursday October 14.A steel mill in the Iskenderun region booked a US cargo at $486 per tonne cfr on an HMS 1&2 (80:20) basis. However, the cargo composition was not clear at the time of publication.The previous deep-sea transactions, on Wednesday October 13, were concluded at $480 p...Read More
Base metals prices on the London Metal Exchange were up at the 5pm close of trading on Thursday October 14 on a weaker US Dollar Index, and continuing power supply issues that were squeezing metal supply."Chinese factory-gate pricing in September may have grown at its fastest pace in 26 years, adding to the 'stagflation' growth threats moving down the line. But in the here and now, power and suppl...Read More
The Port of Los Angeles plans to operate around the clock seven days a week to address a growing backlog of shipments waiting in cargo containers anchored offshore to be unloaded at the port.The port announced the move on Wednesday October 13, joining a similar effort that began at the nearby Port of Long Beach in September.The port is figuring out the details of how it will work with supply chain...Read More
Offer prices for deep-sea cargoes in Bangladesh jumped in the week ended October 14 amid bullish sentiment from United States sellers and good scrap demand in competing Asian import nations, sources told Fastmarkets.Bangladeshi mills hit by strong offer pricesSouth Korean mill issues scrap import tenderTaiwanese containerized prices continue to increaseElectricity rationing sours sentiment in Chin...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has announced measures intended to reduce its consumption of natural gas after an increase in global prices.The company did not say whether the measure would affect its steel production, but it planned to gradually replace natural gas with gas generated in the steelmaking process.Ahmsa is a major steel producer and ferrous scrap consu...Read More
Demand for imported steel scrap in South Korea has continued to rise despite the closure of an electric-arc furnace (EAF) in the country and a sharp jump in prices from key supplier markets, sources said on Thursday October 14.An EAF owned by a medium-sized South Korean steelmaker has been closed due to an accident at the plant, Fastmarkets first heard on October 5. Sources told Fastmarkets that...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
Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operation...Read More
Regulation has been an important driver for the push toward clean energy technologies but industry has accelerated this mindset, the chief executive officer of Nth Cycle said.According to Megan O'Connor, the past several administrations in the United States have prioritized establishing a domestic supply of critical minerals used to power the energy transition. "Whether rare earths for critical de...Read More
LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.* LME metals up by an average of 6.6% this week, with zinc up by 14%* Brent crude oil approaching $85 per barrel* E...Read More
China's domestic demand for stainless steel has weakened in the past few week due to a widespread electricity shortage across the country, which weighed on prices in the week to Wednesday October 13.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,000-21,200 ($3,260-3,291) per tonne, narrowed downward by 200 yuan per tonne from September 29. The power shortage has resulte...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...Read More
Discounts for some copper scrap grades fell this week while demand remained robust, whereas some red brass scrap prices softened over the week.The copper scrap market is "in balance," a seller said. A second seller said he is yet to see the impact of Malaysia's scrap import regulation changes in the domestic flow of material."Malaysia has enough material in the ports to last them months," the seco...Read More