Negative sentiment is prevailing among European buyers of hot-rolled coil, but mills managed to keep prices fairly stable in Italy and Northern Europe on Wednesday September 15, sources told Fastmarkets.Reduced demand from the automotive sector and cheap import material booked earlier this year that has arrived in the European Union and is awaiting customs clearance have been supporting the bearis...Read More
Chinese battery materials producer Xiamen Tungsten New Energy Materials (XTC) has struck a deal with CNGR Advanced Materials Co for the supply of cobalt tetroxide and ternary precursor materials, XTC announced on Wedmesday September 15.Under the agreement, which runs from September 14, 2021, to December 31, 2023, CNGR is expected to supply to XTC with 20,000-25,000 tonnes per year of cobalt tetrox...Read More
Domestic prices for heavy plate in Europe declined in the week to Wednesday September 15 due to lower slab costs, sources told Fastmarkets.Sentiment in the market remains negative despite healthy demand."Demand is still good, whereas the sentiment is a bit more negative; everybody expects price reductions and has to state approximately ?,?100 per tonne loss on prices till now," a German distributo...Read More
The domestic steel wire rod market in Northern Europe was quiet in the week to Wednesday September 15, with buyers expecting prices to decline in line with weakening scrap values and lower-cost imports.Producers, however, were in no hurry to drop their offer prices, sources told Fastmarkets on Wednesday.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality) domestic, delivered Nort...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 15.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 15 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 15 that are worth another look....Read More
Semi-finished steel imports to the Philippines, mostly made up of steel billet, fell 11.6% year on year in the first half of 2021 with demand choked by the country's ongoing struggles with Covid-19.1.23 million tonnes of material were imported to the Philippines in January-June 2021, down from 1.39 million tonnes over the first half of 2020, according to statistics compiled by the Philippines...Read More
London Metal Exchange prices bounced back on September 15, with lead the only metal under selling pressure. Aluminium had an intraday high of $2,924 per tonne. This is its highest price since it touched $3,000 per tonne on Monday prior to the sell-off on Monday afternoon. Its closing price was lower, at $2,893 per tonne, but still 2.2% higher than Tuesday's closing price. Similarly, nickel's...Read More
Shanghai copper premiums rose in the week to Tuesday September 14 with the market becoming quieter ahead of a national holiday in China, while in the United States copper cathodes continued to trade at multi-year high prices.Chinese electro-refined (ER) cathode import premiums hit peak of $85-95 per tonne before decliningUS market continues to be strongShanghai premiums rise ahead of holidayChina'...Read More
Producers continued to raise their offer prices for low-carbon ferro-chrome during the week to Tuesday September 14 amid tight supply, high costs and uncertain logistics.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe was $2.78-3.10 per lb Cr on Tuesday, an increase of 5 cents, or 1.7%, from $2.73-$3.05 per lb Cr one week earlier."Several of the producer...Read More
Negative sentiment is prevailing among European buyers of hot-rolled coil, but mills managed to keep prices fairly stable in Italy and Northern Europe on Wednesday September 15, sources told Fastmarkets.Reduced demand from the automotive sector and cheap import material booked earlier this year that has arrived in the European Union and is awaiting customs clearance have been supporting the bearis...Read More
Tata Steel India has commissioned a carbon-capture plant at its Jamshedpur Works, as part of its goal to reduce emission and promote a circular carbon economy, the company said on Tuesday September 14.The 5-tonnes-per-day carbon-capture plant makes Tata Steel the first steel company in India to adopt carbon-capture technology that extracts carbon dioxide directly from blast furnace gas.Tata Steel...Read More
Turkish steel producers have continued their deep-sea scrap bookings for October shipments at fairly stable prices, market participants told Fastmarkets on Wednesday September 15.A steel mill in the Marmara region booked a United States cargo, comprising 23,000 tonnes of HMS 1&2 (80:20) at $441.50 per tonne, 5,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $456.50 per ton...Read More
German steelmakers have settled their monthly steel scrap contracts for September at lower prices, following the trend in international markets and due to the increased availability of some scrap grades in the local market, sources told Fastmarkets on Wednesday September 15.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of material...Read More
China's crude steel, hot metal, and finished steel production in August all fell by more than 10% year on year, according to data released by the country's National Bureau of Statistics (NBS) on Wednesday September 15.August outputCrude steel: 83.24 million tonnes, down by 13.2% from August 2020 and down by 4.1% from July 2021 Hot metal: 71.53 million tonnes, down by 11.1% year on year and down by...Read More
The price of steel hollow sections in Europe remained flat in the week to Wednesday September 15, with trading activity slowing down ahead of the imminent renewal of quarterly European import quotas, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,400-1,430 ($1,654-1,689) per tonne on Wednesday, unchanged since...Read More
German steelmakers have settled their monthly steel scrap contracts for September at lower prices, following the trend in international markets and due to the increased availability of some scrap grades in the local market, sources told Fastmarkets on Wednesday September 15.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of material...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook, Janie Davies...Read More
Fastmarkets has corrected the pricing rationale for MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which was published incorrectly on Wednesday September 15 due to reporter errors.The range of offers was entered incorrectly for publication in the rationale as $24.30-24.80 per lb, and has been corrected to $24.60-24.80 per lb.One bid at $24.30 was discarded from the assessment due to...Read More