Bangladesh has returned to the deep-sea import market with another deal over the past week, market sources told Fastmarkets on Thursday September 23.Bangladeshi mill returns to buy bulk cargoes, sources sayChina's scrap import volumes dropped by over 50% in AugustTaiwanese buyers continue purchasing at higher prices after electricity rationing endsBangladeshAt least one deal for United States-orig...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
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
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
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
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
Chinese buyers continued to buy pig iron imports at increasingly high prices over the past fortnight, market sources told Fastmarkets on Thursday September 23.Demand for pig iron in China has been bolstered ahead of the autumn and winter seasons, in which many Chinese mills must reduce sintering in line with pollution controls guidance from the country's Ministry of Ecology and Environment.A...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
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...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 Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
Increasing expectations of tighter production curbs in China have put pressure on scrap demand from steel mills in the country, weighing down imported scrap prices, sources told Fastmarkets on Wednesday September 22. Sentiment in China sours because buyers expect tighter production curbsTaiwanese buyers keep bids stableShredded import prices rangebound in IndiaChinaBids for import cargoes of steel...Read More
CIS billet exporters saw some signs of support from China as the country's long-steel market opened stronger after the Mid-Autumn Festival ended on September 21.China's domestic rebar prices moved up sharply on Wednesday September 22 on market participants' expectations of supply cuts in the remaining months of 2021.Fastmarkets' daily price assessment for steel reinforcing bar (rebar) domesti...Read More
Export prices for steel billet from Iran continued to strengthen in the week to Wednesday September 22, supported by demand in the Asian market.One of the country's major exporters of semi-finished steel products, Khouzestan Steel, sold a cargo of billet on Wednesday, scheduled for shipment in November, at $635 per tonne fob southern ports of Iran.Several market sources reported another billet sal...Read More
Domestic prices for hot-rolled coil continued to decline across Europe on Wednesday September 22, mainly due to weak demand from the automotive sector and spot buyers holding sufficient stocks, sources told Fastmarkets.The reduced consumption by car manufacturers was a result of the global shortage of semiconductor chips for onboard electronics, with some volumes of flat steel being redirected to...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
Domestic prices for cold-rolled coil in Europe moved down in the week to Wednesday September 22, due to reduced demand from the car industry, sources have told Fastmarkets.Car manufacturers in the EU were likely to consume fewer flat steel products than previously expected because of the global shortage of semiconductor chips for vehicles' onboard electronics.As a result, some volumes that origina...Read More
Galvalume prices in the United States climbed to an all-time high for a ninth consecutive month, with market participants projecting that the rally might be coming to an end due to a recent upsurge in imports."Time is on our side," a distributor source said. "During the fourth quarter, imports will lead the way." Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US...Read More