The price of steel hollow sections in Europe softened in the week to Wednesday September 29, ahead of the renewal of European Union import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,300-1,330 ($1,519-1,554)per tonne on Wednesday September 29, down from ?,?1,350-1,400 per tonne on Wednesday September 2...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 29, ahead of the renewal of European Union import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,300-1,330 ($1,519-1,554)per tonne on Wednesday September 29, down from ?,?1,350-1,400 per tonne on Wednesday September 2...Read More
Seaborne coking coal prices declined on Wednesday September 29 amid thin trading; premium hard coking coal prices in both the cfr and fob markets are relatively high, which depressed buying interest in the spot market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $592.89 tonne, down $4.17 per tonneHard coking coal, cfr Jingtang: $534.86 per tonne, down $3.79...Read More
Turkish steel mills stepped away from the deep-sea scrap import market after booking a number of cargoes earlier in the week, sources told Fastmarkets on Wednesday September 29.Steelmakers booked at least three deep-sea cargoes earlier this week. A steel mill paid $426 per tonne cfr for Europe-origin HMS 1&2 (80:20), while another steel mill paid $434 per tonne for the same material from Venezuela...Read More
Rebar prices in Shanghai increased on Wednesday September 29 on restocking ahead of the National Day holidays, but demand is expected to drop in areas in north, east and central China on plans to start dust inspections at construction sites from October 1 to March 31, 2022.DomesticEastern China (Shanghai): 5,830-5,870 yuan ($902-908) per tonne, up by 40 yuan per tonneThe Ministry of Ecology and En...Read More
Chinese copper smelters are looking to buy concentrates for the fourth quarter of this year, citing better availability of spot materials. China's Copper Smelters Purchase Team (CSPT) set the fourth-quarter base price for treatment and refining charges (TC/RCs) at $70 per tonne/ 7 cents per lb on Wednesday September 29, sources told Fastmarkets. The price floor...Read More
China's power-cut policy has caused disruption in the battery raw materials supply chain and has brought uncertainty to the price of materials like nickel and cobalt, sources told Fastmarkets.The country started introducing power-consumption limits in some provinces in July 2021 due to power shortages following its carbon-reduction policy, and the curbs have been extended into more provinces and h...Read More
Export slab prices from Iran continued to decrease in the week to Wednesday September 29 amid weakening customer markets.Southeast Asia and China are currently the main destinations for Iran-origin slab.Fastmarkets' daily steel hot-rolled coil index export, fob main port China, was $ 910 per tonne on September 29, unchanged day on day but down by $15 per tonne week on week.In such conditions...Read More
European buyers held back from hot-rolled coil purchases due to expectations of a decline in domestic prices and massive import volumes being released in the European Union after Friday October 1, sources told Fastmarkets on September 29. Low import offers that have emerged in Europe have also contributed to negative sentiment in the market. The latest offers of HRC have been heard at ?,?800-900 (...Read More
The opposing forces taking hold of prices in the iron ore and coking coal markets could spill over in the first quarter of 2022 due to their differing fundamentals and Chinese policy, according to market sources.Depressed iron ore vs bullish coking coalIron ore prices have been falling since early July due to cues from the Chinese government that crude steel production in 2021 should not exceed th...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Jon Stibbs...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 29.Janie Davies in London;...Read More
Prices in the Indian import steel scrap market have dropped in recent days amid continued weak demand in the country, while power shortages are constraining Chinese scrap demand, market sources told Fastmarkets.Weak demand in India continues to pressure pricesChina's restrictions on power usage depress buying interests furtherTaiwan secures containerized scrap cargoes at $465 per tonne cfrIndiaPri...Read More
Fastmarkets has corrected the pricing assessment for steel slab, export, fob ports Iran, which was published incorrectly on Wednesday September 29 due to a reporter error.The assessment range for steel slab, export, fob ports Iran was entered incorrectly as $672-782 per tonne, and has been corrected to $672-682 per tonne.Fastmarkets' price database has been updated to reflect the change.For m...Read More
Base metals prices were mostly slightly up on the LME but weaker on the SHFE this morning, Thursday September 30, but overall the markets seem to be consolidating while they await big-picture developments.* China’s power rationing weighs on the official manufacturing purchasing managers index (PMI)* The Thursday economic agenda is busy* US dollar rallying stronglyBase metalsAfter price weakne...Read More
Spain-based ferro-alloys producer Ferroglobe has temporarily shut another furnace in the country due to expensive energy prices, according to reports and trade sources on Tuesday September 28.The company, which recently shut a silicon furnace at its Sab??n plant in Spain, has also idled a silico-manganese furnace at its Boo plant in Santander, on the northern coast of the country. Officials a...Read More
Turkish steel mills stepped away from the deep-sea scrap import market after booking a number of cargoes earlier in the week, sources told Fastmarkets on Wednesday September 29.Steelmakers booked at least three deep-sea cargoes earlier this week. A steel mill paid $426 per tonne cfr for Europe-origin HMS 1&2 (80:20), while another steel mill paid $434 per tonne for the same material from Venezuela...Read More
The stainless steel scrap market in the United States is largely at a standstill for now while the London Metal Exchange cash nickel price continues to lose ground, having retreated to the mid-$8-per-lb range."LME nickel is significantly off its recent highs [of] over $9 per lb, and if demand weren't still strong I think scrap prices would be even lower," one scrap dealer source said, noting...Read More
The Brazilian steel industry intends to contribute to a reduction in greenhouse-gas (GHG) emissions in order to lower the country's carbon footprint, the steelmakers' association, Instituto A??o Brasil, said on Wednesday September 29.The methods to cut emission will include developing a strong local carbon credit market and moving forward with higher scrap and charcoal usage, as well as improving...Read More
The export billet price from the Commonwealth of Independent States strengthened on Wednesday September 29 with a fresh Black Sea cargo reported sold to China.A 40,000-tonne lot of Ukraine-origin billet was sold to China at $705 per tonne cfr on Wednesday, a source on the seller side told Fastmarkets. Market participants estimate that the price nets back to $600-605 per tonne fob Black Sea, consid...Read More