Brazil-based steelmaker Gerdau is investing in new flat-rolled and long steel rolling capacity at its Ouro Branco integrated mill in the country's southeastern state of Minas Gerais, chief executive officer Gustavo Werneck told journalists in a conference call on Wednesday August 4.The company will increase its capacity for hot-rolled coil (HRC) by 250,000 tonnes per year, to 1.1 million tpy, and...Read More
Key data from the Wednesday August 4 pricing session in London.Key drivers Spot international cobalt prices widened downward on cheap offers from sellers willing to take profits in a quiet market, amid seasonally slow trading. Some sellers insisted on...Read More
Lower bids for Japanese steel scrap heard from key buyers, combined with the sharp drop in Chinese ferrous futures this week, have created a slide in sentiment across the major Asian steel scrap markets, sources told Fastmarkets on Tuesday August 3. Slide in Chinese futures market reduces cfr China scrap, billet prices Tokyo Steel drops scrap buy prices at Tahara works, except for Shindachi bushel...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
Aluminium premiums in the United States and Europe climbed further on Tuesday August 3 on tight supply in those regions, while premiums in Asia remained flat on muted demand.US Midwest premium jumps to fresh all-time highPremiums in Europe tick up on supply tightnessMain Japanese ports (MJP), South Korea premiums steady on thin liquidityUS Midwest premium shoots up by almost 10%Fastmarkets assesse...Read More
Due to a reporter error, the United States zinc and copper premiums for Tuesday August 3 were published in Fastmarkets' price book after the scheduled time of 4pm GMT.Fastmarkets' fortnightly assessment of the copper grade 1 cathode premium, ddp Midwest US and the zinc SHG min 99.995% ingot premium, ddp Midwest USwere published later than the scheduled time of 4pm GMT.For more information, or...Read More
Turkish prices for flat steel products decreased during July and trading was limited due to holidays during the month, sources told Fastmarkets on Tuesday August 3.Global weakness in flat steel markets during the holidays - Democracy Day was on July 15 in Turkey, and the Ei al-Adha holidays took place from July 19-24 - sparked the decline in prices.Turkish hot-rolled coil producers are currently a...Read More
Lower bids for Japanese steel scrap heard from key buyers, combined with the sharp drop in Chinese ferrous futures this week, have created a slide in sentiment across the major Asian steel scrap markets, sources told Fastmarkets on Tuesday August 3.Slide in Chinese futures market reduces cfr China scrap, billet pricesTokyo Steel drops scrap buy prices at Tahara works, except for Shindachi bushelin...Read More
Prices for hot- and cold-rolled steel sheet in Russia's Central Federal District around Moscow showed no change week on week in the seven days to Monday August 2, with a mood of pessimism among both mills and stockists, sources have told Fastmarkets.A pricing downtrend developed in the steel plate sector, and this was expected to reach other market sectors later in the month.Hot-rolled sheetNomina...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Tuesday August 3, with LME copper and SHFE aluminium bucking the trend, but the drop in US ten-year treasury yield hints of a pick-up in haven buying.Asian equities mainly lower this morningSome disappointing manufacturing purchasing managers' index (PMI) have raised concern about...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday August 3 and their latest price moves.China UG2 chrome ore prices rose following the surge in downstream ferro-chrome prices in recent weeks. Turkish lumpy ore prices also increased on high freight costs from Turkey to China. Domestic spot ferro-chrome prices adjusted downward after buyer interest weak...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
Manganese ore prices were under pressure from stubborn port inventories in China during the week ended Friday July 30, with buying sentiment further lowered by new cuts to alloy production to be imposed in the south of the country.Almost all manganese alloy smelters in Ningxia province suspended their operations from July 27 due to reduced electricity supplies, market participants told Fastmarkets...Read More
Domestic steel rebar prices in Russia's Central Federal District declined during the week to Monday August 2 because an export duty came into force on August 1, directing more material into the local market.The Russian government has imposed an export tax on rebar for the period between August 1 and December 31, 2021. The base duty rate will be 15% but the duty will be no lower than $115 per tonne...Read More
The latest data for global manganese ore market for the week ended July 30, 2021.Read More
Domestic and imported rebar prices were stable in the United Arab Emirates during the week to Tuesday August 3, while imported billet prices increased because of globally strong billet prices, sources told Fastmarkets.Fastmarkets' weekly assessment for steel billet export, fob main port India was $645-650 per tonne fob on Friday July 30, rising from $630-635 per tonne on July 23.Domestic reb...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
Turkish steel producers resumed their deep-sea scrap bookings after a short break, taking advantage of lower prices, market participants told Fastmarkets on Tuesday August 3.A steel mill in the Marmara region booked a US cargo comprising 29,000 tonnes of heavy melting scrap 1&2 (80:20) at $463 per tonne and 8,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $478 per tonne c...Read More
ArcelorMittal Europe has launched new long steel products under its XCarb brand which are claimed to offer a reduced carbon footprint, with the intention of supporting the construction industry's efforts to meet environmental protection goals, the company announced on Friday July 30.ArcelorMittal Europe's Long Product division said that environmental production declarations (EPDs) were now availab...Read More
Lower bids for Japanese steel scrap heard from key buyers, combined with the sharp drop in Chinese ferrous futures this week, have created a slide in sentiment across the major Asian steel scrap markets, sources told Fastmarkets on Tuesday August 3.Slide in Chinese futures market reduces cfr China scrap, billet pricesTokyo Steel drops scrap buy prices at Tahara works, except for Shindachi bushelin...Read More