European long steel makers who produce via electric-arc furnaces (EAF) have expressed growing concerns over rising energy costs, which could worsen ahead of higher demand in the winter, sources told Fastmarkets.One EAF mill source in Southern Europe said that on average, energy accounts for 15% of steel production costs."The latest energy price rises will add about ?,?40-50 ($46.8-58.6) per tonne...Read More
Swiss trading firm SiderAlloys has hired Matteo Chareun this month as manager of its commercial division, Chareun told Fastmarkets.Prior to this role, Chareun spent seven years as commercial division manager at Swiss trading house Euromet SA, a position in which he...Read More
Fastmarkets proposes to amend the publication timing of its ferro-chrome benchmark indicator and its ferro-chrome cif China price.For its ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe and ferro-chrome 50% Cr import, cif main Chinese ports price assessment, Fastmarkets proposes changing the publication time.The proposed specifications would be (proposed...Read More
Fastmarkets proposes changes to the name and specifications of its UG2 chrome ore price index.Fastmarkets proposes to change the specification for its chrome ore South Africa UG2 concentrates index basis 42%, cif China to include MG material and to amend some qualities, including to clarify a base chrome iron ratio and to implement a normalization process to meet this base level. Fastmarkets...Read More
Tin's futures contract fell by 3.9% on Monday September 27, and most other London Metal Exchange prices were also lower on the day, with somewhat bearish sentiment still holding in the complex.Tin's three-month price was at $35,100 per tonne on Monday at 5pm in London, decreasing from $36,539 per tonne at the same time on Friday.Amid concerns surrounding the supply of the metal given ongoing...Read More
China's domestic rebar prices levelled out on Monday September 27 following futures gains and increased restocking demand.DomesticEastern China (Shanghai): 5,780-5,820 yuan ($894-900) per tonne, unchanged.A number of provinces are restricting the electricity supply to steel mills to reduce energy consumption and emissions, so market participants expect that steel output will keep dropping and pric...Read More
China's National Food & Strategic Reserves Administration will sell 30,000 tonnes of copper, 70,000 tonnes of aluminium and 50,000 tonnes of zinc in a fourth batch of sales to fabricators.These materials will be sold via a public auction on October 9, according to a notice from the administration published...Read More
Turkish steel producers made no new deep-sea bookings on Monday September 27 due to weak finished steel demand, but a cargo deal from late last week came to light.A steel mill in the Marmara region booked a Baltic Sea cargo at $433 per tonne cfr for heavy melting scrap 1&2 (80:20) late on Friday September 24. The cargo breakdown was not clear at the time of publication.This cargo deal compares wit...Read More
Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.The 660,000-tonnes-per-year furnace was only restarted in June after nearly 14 months out of action during the Covid-19 pandemic.Usiminas did not provide any further details of the incident, but confirmed that, depending on the natu...Read More
European producers have been more active with export offers of hot-rolled coil to Turkey in the second half of September in an attempt to keep domestic supply volumes under control, sources told Fastmarkets.Offers for commodity-grade November-shipment HRC from Northern European producers have been heard at $950-970 per tonne cfr Turkish ports. This is substantially lower than domestic prices in Eu...Read More
The price rally in European ferro-silicon, which has lasted through the year, is showing no sign of stopping and consumers in the steel sector are likely to demand more alloy material before prices hit even higher record peaks, sources told Fastmarkets.European prices jumped by more than 5% to a peak of ?,?2,500 ($2,930) per tonne delivered in the week to September 24, with reported deals and offe...Read More
European long steel makers who produce via electric-arc furnaces (EAF) have expressed growing concerns over rising energy costs, which could worsen ahead of higher demand in the winter, sources told Fastmarkets.One EAF mill source in Southern Europe said that on average, energy accounts for 15% of steel production costs."The latest energy price rises will add about ?,?40-50 ($46.8-58.6) per tonne...Read More
Here are five Fastmarkets stories you might have missed on Monday September 27 that are worth another look.Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.For aluminium market participants...Read More
Prices for seaborne iron ore concentrate and pellets fell further in the week ended Friday September 24 amid thin trading caused by weak demand attributed to a public holiday in China last week.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $37.20 per tonne, up $3.50 per tonne66% Fe concentrate, cfr Qingdao: $125.70 per tonne, down $9.84 per tonne65% Fe blast furnace pell...Read More
Tin's futures contract fell by 3.9% on Monday September 27, and most other London Metal Exchange prices were also lower on the day, with somewhat bearish sentiment still holding in the complex.Tin's three-month price was at $35,100 per tonne on Monday at 5pm in London, decreasing from $36,539 per tonne at the same time on Friday.Amid concerns surrounding the supply of the metal given ongoing...Read More
China imported 40,540 tonnes of ferrous scrap in August, a 53.13% decrease from July, according to the latest Chinese customs data.Of the total, 28,722 tonnes - or 70.85% - originated in Japan.South Korea remained China's second-largest scrap supplier in August, accounting for 5,637 tonnes (13.90%) of imports.The United Kingdom (3,260 tonnes; 8.04%) and Hong Kong (694 tonnes; 1.71%) were other sig...Read More
European long steel makers who produce via electric-arc furnaces (EAF) have expressed growing concerns over rising energy costs, which could worsen ahead of higher demand in the winter, sources told Fastmarkets.One EAF mill source in Southern Europe said that on average, energy accounts for 15% of steel production costs."The latest energy price rises will add about ?,?40-50 ($46.8-58.6) per tonne...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More