Fastmarkets has corrected the pricing rationales for MB-CO-0004 cobalt alloy grade, in-whs Rotterdam, $ per lb, and MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which were published incorrectly on Thursday September 30 due to reporter and editor errors.The rationale for the cobalt alloy grade, in-whs Rotterdam, $ per lb has been corrected to state that the assessed range move...Read More
Turkish steel mills returned to the deep-sea scrap market on Thursday September 30 for November shipment cargoes, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $435 per tonne, along with 8,000 tonnes of shredded and 12,000 tonnes of bonus at $450 per tonne cfr.A mill in the Izmir region also book...Read More
The suspension of activity in the vicinity of the Xingu dam in Vale's Mariana iron ore complex has been partially revoked, allowing the associated railway to resume activities, the Brazilian company said on Thursday September 30.The Regional Labor Superintendence (SRT) had issued an order to partly reverse the suspension of operations to allow the resumption of transportation along the Vit??ria-Mi...Read More
Environmental, social and governance (ESG) investors should be reducing exposure to plug-in hybrid- and fuel cell-weighted automotive supply chains and focusing instead on battery electric vehicles (BEV), according to a report by Jefferies. Ford's recent announcement of record-setting investment in electric vehicles (EVs) gives a clear signal to the market: BEVs are the future, with hybrids a...Read More
Prices in the United States for imported hot-rolled coil, cold-rolled coil and galvanized steel dropped, with foreign producers finding that they can profit if they underbid domestic mills and gain market share in the lucrative US market."The price gap between US and international prices is widening, and more and more foreign mills are interested in the US market, even from the [European Union],"...Read More
Hot-rolled coil prices in the United States edged back above $98 per hundredweight ($1,960 per short ton), with market participants at odds over whether the steel rally is about to run out of steam.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $98.08 per cwt ($1,961.60 per ton) on Thursday September 30, up by 0.16% from $97.92 per cwt on Wednesday September 29 and u...Read More
Local rebar prices in Egypt remained stable in the week to Thursday September 30, supported by ample demand from government projects, sources told Fastmarkets."Demand is good for the second consecutive month, driven by state projects in infrastructure and housing sectors," a local steelmaker told Fastmarkets.For example, domestic rebar consumption in August was 720,000 tonnes in Egypt, up by 76.7%...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
Fastmarkets has corrected the pricing rationales for MB-CO-0004 cobalt alloy grade, in-whs Rotterdam, $ per lb, and MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which were published incorrectly on Thursday September 30 due to reporter and editor errors.The rationale for the cobalt alloy grade, in-whs Rotterdam, $ per lb has been corrected to state that the assessed range move...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 29 that are worth another look....Read More
Seaborne cfr prices increased on a new deal on Thursday September 30; sources expect seaborne coking coal prices in the cfr market to edge up after China's National Day holiday, partly due to the ongoing power shortage.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, up $10.39 per tonneHard coking coal, cfr Jingtang: $565.14 per tonne, up $30.28 per tonnePremium hard c...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
The European Commission (EC) has started an anti-dumping investigation into flat electrolytic chromium-coated steel (ECCS) imports from China and Brazil, the EC said in the official journal of the European Union on September 24.The case was opened after European steel association Eurofer lodged a complaint on August 13, 2021.The product...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
Steel beam prices rose in the United States' domestic and import markets on Thursday September 30 in response to a third round of mill increases. Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $68 per hundredweight ($1,360 per short ton) on Thursday September 30, up 3.82% from $65.50 per cwt on August 26, and up 7.94% from $63 per cwt on July 29.Fastmarkets' as...Read More
Turkish steel mills returned to the deep-sea scrap market on Thursday September 30 for November shipment cargoes, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 12,000 tonnes of HMS 1&2 (80:20) at $435 per tonne, along with 8,000 tonnes of shredded and 12,000 tonnes of bonus at $450 per tonne cfr.A mill in the Izmir region also book...Read More
Domestic steel reinforcing bar prices in the United States were stable in the week to September 30, with some market participants saying that upward price momentum has come to an end."I think we have hit the wall," an East Coast distributor source said. "Jobs have been canceled or delayed, inventories are not being replenished to previous levels, and just having the bar does not get you the order...Read More
Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), with a base rate of 15% and specific minimum rate for each product, will remain in effect until December 31, 2021.It is mainly m...Read More
Mills in Bangladesh have dipped into the containerized import scrap market for a handful of bookings at largely stable prices, sources told Fastmarkets on Thursday September 30.Bangladesh books small tonnage in containersChina import market activity thin ahead of holidayPrices in Taiwan weaken after restocking endsBangladeshSteelmakers in Bangladesh booked a handful of deals for containers of heav...Read More
Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%."Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of...Read More