Steel rebar and billet prices in Egypt remained stable during the week ending Thursday September 23, with demand strong from government-funded projects, sources told Fastmarkets.Despite strong demand from government projects, demand from the private sector has been weak due to expected price cuts, sources said.Buyers have been expecting prices to decrease because of recent global price decreases.F...Read More
The price of steel billet exports from the CIS corrected downward by a few dollars per tonne on Thursday September 23 when fresh booking to Latin America came to light.Around 20,000 tonnes of Ukraine-origin billet were reported sold to Latin America in the first half of the week at $600 per tonne fob Black Sea for basic-grade material.The deal sent Fastmarkets' calculation of its daily steel bille...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 23 that are worth another look.General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday...Read More
Major zinc and lead smelters across China received orders from provincial governments on Wednesday September 22 to lower their power consumption, sources told Fastmarkets. One major zinc smelter source in Guangxi was informed by the government to cut their electricity by 20%.'We are not told when power consumption could resume [to] normal at all. Some peers were even instructed to halve electricit...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
China's domestic rebar prices held steady on Thursday September 23 after surging a day earlier, with demand among stockists dropping during the day. Domestic Eastern China (Shanghai): 5,800-5,840 yuan ($897-903) per tonne, unchanged Stockists held off from restocking further during the day amid losses in the futures market. They are not expecting prices to experience much upside in the near term.O...Read More
A summary of China's battery raw materials exports for August 2021, according to the latest Chinese customs data.In briefChina's cobalt metal exports rose in August to their highest so far in 2021 amid improved overseas demand among European buyers.Exports of cobalt tetroxide fell both on a month-on-month and a year-on-year...Read More
China's domestic stainless steel prices surged rose sharply over the week to Wednesday September 23 amid tight supply and steady demand.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,800-22,500 ($3,370-3,478) per tonne, up by 2,800 yuan per tonne from a week earlier Prices have risen to their highest since September 2011.Jiangsu province, a major stainless steel product...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
Base metals prices on the London Metal Exchange were largely up on Thursday September 23; the market continued to cautiously anticipate the outcome for Chinese real estate giant Evergrande while the debt deadline edges closer. "Equity markets have made a steady start so far on Thursday," James Moore, analyst at Fastmarkets said, "even after the United States Federal Reserve signaled that it will s...Read More
The price of steel billet exports from the CIS corrected downward by a few dollars per tonne on Thursday September 23 when fresh booking to Latin America came to light.Around 20,000 tonnes of Ukraine-origin billet were reported sold to Latin America in the first half of the week at $600 per tonne fob Black Sea for basic-grade material.The deal sent Fastmarkets' calculation of its daily steel bille...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 23 that are worth another look.General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday...Read More
The impact of China's new "Two High" energy and emissions policy is likely to continue in the iron ore market into the first quarter of 2022, sources told Fastmarkets this week.Sentiment for the coming six months has turned increasingly bearish since the guidelines, coupled with winter production restrictions, were announced in September. New guidance on 'Two-High' projectsThe "Two-High" poli...Read More
Turkish alloy steelmaker ??emtas has started production at its new stabilizer line for supplying steel to commercial vehicle producer Man, ??emtas said on Tuesday September 21.Located in Bursa, ??emtas has a crude-steel production...Read More
Domestic prices for hot-rolled coil in Europe were stable to slightly lower on Thursday, while trading activity remained subdued because of bearish buyer expectations amid falling automotive demand, sources told Fastmarkets on Thursday September 23. Buyers across Europe continued to maintain a wait-and-see stance and held back from trading, sources said. The recent slowdown in the automotive...Read More
Fastmarkets proposes to amend the publishing time of the weekly India HMS assessment on Friday, from 4:30pm London time to 4:00pm London time, to align better with the publishing time of the India and Pakistan ferrous scrap indices.The shredded indices for India and Pakistan are both published at 4pm London time on a Friday, and the India HMS assessment will be brought in line with this, to offer...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 23 that are worth another look.General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday...Read More
Crude steel output in Germany increased by 3.40% year on year in August, the German steel federation, WV Stahl, said on Thursday September 23.German crude steel production totaled more than 2.93 million tonnes in August 2021, up from 2.83 million tonnes in August last year."The upward trend in crude steel production in Germany continued in August, but the pace [of growth has slowed]," WV Stah...Read More