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
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
Turkish steelmakers have continued to book deep-sea scrap cargoes at slightly better prices, market participants told Fastmarkets on Tuesday September 14.A steel mill in the Iskenderun region booked a United States cargo comprising 24,000 tonnes of HMS 1&2 (85:15) at $443 per tonne and 4,000 tonnes of plate and structural (P&S) at $458 per tonne cfr.The same mill also booked a Canadian cargo compr...Read More
The Chinese import market for steel scrap remained quiet on Tuesday September 14 despite Russian sellers offering bulk plate and structural (P&S) scrap at lower prices, market sources said.Cheaper Russia-origin P&S still not attractive to buyers in ChinaSharp drop in Chinese ferrous futures hampers scrap buying demandUptrend continues in Taiwan imported containerized scrap.ChinaLower-cost steel sc...Read More
Buyers of steel rebar and billet in the United Arab Emirates preferred to wait for new construction or infrastructure projects to be announced before placing big orders because of price uncertainty, sources told Fastmarkets on Tuesday September 14.However, no big projects have been announced recently in the region, sources added.UAE market participants did not want to order material in case global...Read More
Bids reached $2,240 per dry metric tonne (dmt) during Pilbara Minerals' second spodumene concentrate auction held via its Battery Material Exchange (BMX) platform on Tuesday September 14, sources told Fastmarkets.The auction is for 8,000 tonnes of spodumene concentrates (SC 5.5% basis) with shipment in November, market participants said. The latest price is at a fob Hedland basis and was 79.2% hig...Read More
Buyers of steel rebar and billet in the United Arab Emirates preferred to wait for new construction or infrastructure projects to be announced before placing big orders because of price uncertainty, sources told Fastmarkets on Tuesday September 14.However, no big projects have been announced recently in the region, sources added.UAE market participants did not want to order material in case global...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
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 Tuesday September 14 that are worth another look....Read More
High-grade manganese prices rose in China with the return of liquidity in the week to Friday September 10, while the price of semi-carbonate ore was unchanged week-on-week, with South African exports continuing to weigh heavily on the markets.Fastmarkets' price index for manganese ore 44% Mn, cif Tianjin, rose to $5.26 per dry metric tonne unit (dmtu) on September 10, up by 12 cents per dmtu (2.3%...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 14 that are worth another look....Read More
Standard Lithium Ltd it is undertaking a pilot project in southern Arkansas to test carbon-capture technology to reduce emissions, the company said. The pilot project will be undertaken in collaboration with the owner of the technology, Aqualung Carbon Capture AS, and will be installed at a natural gas processing site in Columbia County, Arkansas, that is owned and operated by oil and gas explorat...Read More
Several lead smelters in China, which have previously struggled to raise finance, have been restarting their idled furnaces to take advantage of opportunities to sell the heavy metal's by-products abroad, market sources said.Over the past few months, Hunan-based lead smelters, including Hunan Yuteng Nonferrous Metals and Chenzhou City Jingui Silver Industry Co, have obtained silver tolling li...Read More
Steel scrap consumers in the British market have won price concessions in their delivery settlements with suppliers for September, trade sources said on Tuesday September 14.The buyers used the slow export market and a consequent build-up of material to successfully argue for lower costs for their supplies this month.Steel foundries managed to negotiate a reduction of around ?10 ($14) per tonne o...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 14 that are worth another look....Read More
Standard Lithium Ltd it is undertaking a pilot project in southern Arkansas to test carbon-capture technology to reduce emissions, the company said. The pilot project will be undertaken in collaboration with the owner of the technology, Aqualung Carbon Capture AS, and will be installed at a natural gas processing site in Columbia County, Arkansas, that is owned and operated by oil and gas explorat...Read More
The domestic steel rebar market in Russia's Central Federal District around Moscow continued to suffer from oversupply in the week to Monday September 13, sources have told Fastmarkets, with export sales limited by the $115 per tonne temporary export duty.The price decline in the country's largest rebar-consuming region started in the second half of July and has been mainly driven by mills that se...Read More
Evergrande Group, one of China's biggest housing companies, said on Tuesday September 14 that it would work toward improving its capital flow to ensure that it does not default on its liabilities.The assurance came a day after it dismissed rumors that it would file for bankruptcy.Among the measures, it said that it would revise its schedule of new projects, tighten up its cost controls and promote...Read More
Turkish steelmakers have continued to book deep-sea scrap cargoes at slightly better prices, market participants told Fastmarkets on Tuesday September 14.A steel mill in the Iskenderun region booked a United States cargo comprising 24,000 tonnes of HMS 1&2 (85:15) at $443 per tonne and 4,000 tonnes of plate and structural (P&S) at $458 per tonne cfr.The same mill also booked a Canadian cargo compr...Read More