Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
European ferro-titanium suppliers are set to push up their offer prices for the remaining months of 2021 with steel mills returning to the market after the summer slowdown, industry sources told Fastmarkets.Suppliers have reported deals done above $8 per kg basis ddp for ferro-titanium for delivery in the fourth quarter, as well as deals done approaching $8 per kg for prompt shipment in Europe.The...Read More
The Turkish deep-sea scrap import market was quiet on Thursday August 19, with the mills keeping their purchases limited for September-shipment cargoes, Fastmarkets was told.The most recent trade was recorded on Wednesday August 18, when a steel producer in northern Turkey booked a European cargo comprising 25,000 tonnes of heavy melting scrap 1&2 (80:20), 7,500 tonnes of shredded and 7,500 tonnes...Read More
A month-on-month drop in the Kanto Tetsugen auction and a price cut by major mill Tokyo Steel on Thursday August 19 has increased pessimism in the Japan steel scrap market, sources said.Japan's Kanto tender closed at a fall of $11 per tonne month on monthBearish sentiment in Chinese steel markets weighed on scrap import pricesTaiwan imported containerized scrap price stableJapanJapan's Kanto...Read More
Chinese battery materials producer GEM Co has signed a five-year strategic cooperation framework agreement with Shanghai-listed battery manufacturer Farasis Energy to recycle spent electric vehicle batteries and battery scrap in China. Under the framework agreement, GEM will recycle, dismantle and re-use spent batteries and battery scrap from Farasis Energy, with prices to be led by market conditi...Read More
Key data from Fastmarkets' pricing session in China on Wednesday August 18. Key drivers The spot cobalt metal price in China narrowed up after local futures prices strengthened. And reducing stocks brought further support, with most sellers pushing up offer prices in response.The cobalt tetroxide price widened down with...Read More
Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
Domestic hot-rolled coil prices in China extended their losses, falling to their lowest in about six weeks on Thursday August 19; futures prices continued their decline on demand concerns and waning cost supports.DomesticEastern China (Shanghai): 5,600-5,620 yuan ($863-866) per tonne, down by 90 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange weakened for a second stra...Read More
The cities of Al Ain and Abu Dhabi in the United Arab Emirates have issued decrees saying that only locally produced steel may be used in government-funded construction projects from Wednesday August 18 onward.The notices will apply to all projects approved after August 18. The move was intended to support the local steel industry, sources told Fastmarkets.The government projects to which...Read More
The United States' domestic steel reinforcing bar prices were steady over the past week, with sources trying to absorb the mixed market signals of increased rebar demand and dropping prices for shredded scrap - rebar's key feedstock material.Fastmarkets' assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday August 18, unchanged from the previou...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 19 that are worth another look.Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on...Read More
European ferro-titanium suppliers are set to push up their offer prices for the remaining months of 2021 with steel mills returning to the market after the summer slowdown, industry sources told Fastmarkets.Suppliers have reported deals done above $8 per kg basis ddp for ferro-titanium for delivery in the fourth quarter, as well as deals done approaching $8 per kg for prompt shipment in Europe.The...Read More
Tin was the most affected metal on Thursday's sell-off on the London Metal Exchange, while all metals fell further with risk-off sentiment spreading across commodities and exchanges while Covid-19 continues to dent demand expectations. Tin's three-month price fell 6.4% at the 5pm close to $33,118 per tonne, despite falling by as much as 11% during early trading to $31,500 per tonne on Thursday for...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 19 that are worth another look.Brazil's Vale and Luxembourg-based steel producer Ternium signed a memorandum of understanding (MoU) to seek low-carbon steelmaking solutions in an attempt to cut emissions, the Brazilian mining company said on...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade.Volume on U.S. equity markets is expected to be higher than average today due to "Triple Witching" activity.The Canadian Dollar was unchanged at US77.50 cents following release of Canada's June Retail Sales report at 8:30 AM EDT. Consensus was a gain of 4.5% versus a decline of 2.2% in M...Read More
Selling prevailed on the London Metal Exchange on the morning of Thursday August 19, with copper at its lowest levels in four months; tin's price decreased by as much as $4,000 during morning trade.Over 15,000 lots of copper had been traded by 9am on Thursday, more than half of the total 28,100 lots that were traded by the end of the day on Wednesday August 18, when the sell-off of the red metal w...Read More
The United States' domestic steel reinforcing bar prices were steady over the past week, with sources trying to absorb the mixed market signals of increased rebar demand and dropping prices for shredded scrap - rebar's key feedstock material.Fastmarkets' assessment for steel rebar, fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday August 18, unchanged from the previou...Read More
Swedish steelmaker SSAB has produced and delivered the world's first fossil-free steel, it said on Wednesday August 18.At a ceremony at SSAB Oxel??sund, the company announced that it has produced what it says is steel made with iron produced using HYBRIT technology, meaning the iron is reduced by 100% hydrogen instead of coal and coke.The technology was developed through a partnership between SSAB...Read More
Hot-rolled coil prices in the United States rose to nearly $97 per hundredweight ($1,940 per short ton) on Thursday August 19, surpassing the previous record set a week earlier.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.95 per cwt ($1,939 per ton) on August 19, up by 1.01% from $95.98 per cwt on Wednesday August 18, and 0.42% higher than the previous all-time...Read More
Short supply of nickel products in the United States pushed the cut cathode premium up by more than that for briquette in the week to Tuesday August 17, while trade was still subdued in other regions, Fastmarkets has heard.US 4x4 cut cathode premium up by 11.1%Continued arbitrage losses, Covid-19 problems worry Chinese tradersEuropean premiums flat in summer holiday lull.Both US premiums rise in b...Read More