Export slab prices from the Commonwealth of Independent States (CIS) region remained firm over the week to Monday October 4; trading activity was limited.In the Black Sea basin, mills continued to offer material within the range of $670-680 per tonne fob, unchanged week on week,several sources said. Customers in the major outlets such as Europe and Turkey, however, mainly refrained from booking be...Read More
Fastmarkets is proposing to amend the index specifications of its 62% Fe iron ore index to more closely reflect the chemical composition of mainstream mid-grade ores produced from Australia's Pilbara region.Fastmarkets proposes to amend the silica and alumina base specifications of its index for iron ore 62% Fe fines, cfr Qingdao, $/tonne [MB-IRO-0008]. The current chemical specifications of this...Read More
European non-ferrous metals industry association Eurometaux has warned the European Commission that surging power prices may cause metal producers to leave Europe and erode plans to cut carbon emissions."Rising electricity prices have already led to curtailments and could lead to further relocation of our sector outside Europe if not addressed," Eurometaux said in a letter co-signed by director ge...Read More
Honda's August production and sales of new vehicles in Japan slumped on a monthly basis, by 62.4% and 22.7% respectively.Production of new vehicles fell to 23,790 vehicles in August, while sales fell to 40,656 vehicles.The production statistics are in line with the carmaker's expectations - Honda had earlier reported Japan-based factories to be running at 40% capacity in August-September amid a sh...Read More
Turkey exported 615,575 tonnes of flat steel products in August 2021, according to the Turkish Statistical Institute (TUIK), up by 46.87% year on year from 419,139 tonnes in August 2020.Most of the orders shipped in August were booked in April, when demand was very strong in all global markets.In addition, these bookings were made before the European Commission set definitive anti-dumping duties o...Read More
BHP has produced its first nickel sulfate crystals at its Nickel West Kwinana plant in Western Australia, the company said on Friday October 1.The company expects to produce 100,000 tonnes per year of nickel sulfate when fully operational, which is enough to create 700,000 electric vehicle (EV) batteries each year, it said.The plant's capacity is expandable to 200,000 tpy, according to previous re...Read More
Activity in the European hot-rolled coil segment remained slow on Monday October 4 with both buyers and sellers holding back from trading, sources told Fastmarkets.Buyers paused their purchases in anticipation that European mills will accept lower prices in the near future. In addition, importers need time to consider the situation with the fourth-quarter safeguard quotas.A new quota period starte...Read More
Honda's August production and sales of new vehicles in Japan slumped on a monthly basis, by 62.4% and 22.7% respectively.Production of new vehicles fell to 23,790 vehicles in August, while sales fell to 40,656 vehicles.The production statistics are in line with the carmaker's expectations - Honda had earlier reported Japan-based factories to be running at 40% capacity in August-September amid a sh...Read More
Brazilian mining company Vale has halted operations at its On??a Puma ferro-nickel unit, in the country's northern Par?? state, following the suspension of a license, it said on Monday October 4.Par??'s environmental and sustainability secretariat, Semas, suspended On??a Puma's operating license, saying Vale did not meet some of its conditions, the company said.Vale was in contact with Semas to un...Read More
Turkey imported 844,898 tonnes of flat steel in August, a 30.98% increase from 645,115 tonnes in the corresponding period of 2020, the Turkish Statistical Institute (TUIK) said. Demand for flat steel was strong in May and June, when orders for August deliveries were placed. India sold large quantities of hot-rolled coil to Turkey in June.Current demand for flat steel in the Turkish...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region remained firm over the week to Monday October 4; trading activity was limited.In the Black Sea basin, mills continued to offer material within the range of $670-680 per tonne fob, unchanged week on week,several sources said. Customers in the major outlets such as Europe and Turkey, however, mainly refrained from booking be...Read More
Rebar import prices in Singapore dipped in the week to Monday October 4 amid weak raw materials prices in key exporter Turkey, market sources told Fastmarkets.There were a number of offers for Turkish rebar in the Singaporean spot market.A major Singaporean buyer was offered 50,000 tonnes of Turkish rebar at $720-725 per tonne cfr Singapore on a theoretical weight basis, while other buyers and tra...Read More
Supply disruptions, which have hit commodity markets in recent months, are among the "structural" factors that have prompted the recent 3.4% rise in euro zone inflation, the European Central Bank (ECB) vice president Luis de Guindos said on Monday October 4.In September, ECB estimated the annual inflation rate at 3.4% year on year, up from 3% in August.De Guindos said that some of the drivers of t...Read More
Domestic prices for hot-rolled coil declined across the EU in the week to Friday October 1 due to lower demand from both the spot market and the automotive industry.Buyers have been holding back from purchasing, in anticipation that domestic mills will soon accept lower prices. In addition,European distributors' stocks were sufficient, so they felt no pressure to obtain additional volumes in the s...Read More
The Commonwealth of Independent States' billet export market softened somewhat after the Chinese market, which has been rendering most of the support to billet sellers, left for a weeklong national holiday that ends on Thursday October 7.China's interest in imported billet started to fall by the end of last week.The latest sale of a Ukraine-origin cargo was heard done in the middle of th...Read More
Export rebar prices from the Commonwealth of Independent States (CIS) continued to decrease in the week to Monday October 4 after mills reduced offers again due to demand pressure and competition with Turkish suppliers.ArcelorMittal Kryvyi Rih (AMKR), Ukraine's main long steel supplier, offered rebar at $680-710 per tonne fob, widening downward by $10 per tonne from a week ago."We reduced prices f...Read More
Turkey exported 615,575 tonnes of flat steel products in August 2021, according to the Turkish Statistical Institute (TUIK), up by 46.87% year on year from 419,139 tonnes in August 2020.Most of the orders shipped in August were booked in April, when demand was very strong in all global markets.In addition, these bookings were made before the European Commission set definitive anti-dumping duties o...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More