Billet producers from the Commonwealth of Independent States increased offers for foreign customers this week despite the lack of inquiries from typical customers.Early in the week, market participants reported offers within the range of $650-660 per tonne fob Black Sea, but by the end of the week those had increased to $660-665 per tonne fob, while some producers mentioned even $670 per tonne fob...Read More
Demand for steel rebar and billet in Egypt was low during the week ended Thursday July 29 due to market participants' expectations of changes in import duties, sources told Fastmarkets.Activity in the market resumed this week after the Eid al-Adha holiday celebration last week, and buyers preferred to hold off on placing orders.Egyptian rebar producers normally announce new prices at the begi...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?In a strong start to the year, January saw ore and alloy pricing gains across all markets priced by Fastmarkets - with the exception of Chinese silicon metal export prices, which retreated slightly last month after posting impressive gains in December 2020.The combination...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Lundin Mining's copper production was down during the first half of the year because planned lower grades at its Chapada mine reduced its output.The company's profit in the first half was up by 160% at $835.2 million, boosted by higher gold, copper and zinc prices.In brief: At 120,811 tonnes, copper production was down...Read More
A summary of nickel and zinc producer Terrafame's financial results for the first half of the year to June 2021.Net sales in the first half of 2021 were ?,?185 million ($219 million), an increase of 7.2% year on year.The company said its battery chemical plant had ramped up production in June and deliveries of product to consumers began in July."Our new...Read More
Recycling firm Chiho Environmental Group (CEG) has appointed experienced scrap industry figure Tom Bird as chief trading officer, the company announced on July 27. The appointment was effective from July 1.Chiho is China's largest scrap metal recycling company, running 700 yards globally with extensive operations in the recycling of ferrous and non-ferrous metals scrap. CEG also owns both German f...Read More
A summary of sales figures from Russian steelmaker and vanadium producer Evraz for the April-June quarter of 2021, according to the company's trading report published on Thursday July 29.In brief Total sales of steel products rose by 6.1% quarter on quarter to 3.24 million tonnes, driven by higher sales of finished products in Russia amid favorable market conditions. It was also supported by an in...Read More
China exported 1.03 million tonnes of steel hot-rolled coil in June 2021, adding 168% to the figure of 381,984 tonnes a year earlier, according to data recently published by China's General Administration of Customs.Vietnam remained the principal buyer of Chinese HRC, taking 276,418 tonnes in June.Exports of other major steel products also showed sharp year-on-year increases in June, particularly...Read More
China's domestic rebar prices picked up on Thursday July 29 following futures gains on expectations of tight supply caused by a new power pricing method, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,300-5,330 yuan ($820-825) per tonne, up by 30 yuan per tonneThe National Development and Reform Commission now requires local governments to change peak-valley power prices for industri...Read More
Billet producers from the Commonwealth of Independent States increased offers for foreign customers this week despite the lack of inquiries from typical customers.Early in the week, market participants reported offers within the range of $650-660 per tonne fob Black Sea, but by the end of the week those had increased to $660-665 per tonne fob, while some producers mentioned even $670 per tonne fob...Read More
Indian steelmaker Jindal Stainless (JSL) plans to add 1 million tonnes per year to its melting capacity with a major brownfield project scheduled for completion in late 2023, the company said this week.JSL will build the new capacity on a site at its existing production plant in Jajpur, in the east Indian state of Odisha, it said on Wednesday July 28.The brownfield expansion should be complete by...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
Hot-rolled coil prices in the United States have surged above $94 per hundredweight ($1,880 per short ton) for the first time, after zooming past $93 per cwt on Wednesday July 28, with market participants projecting that the rally will not come to an end until late this year at the earliest.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.03 per cwt ($1,880.60 per...Read More
The prices of billet in Turkey have weakened in the week to July 29 due to falling scrap import values, sources told Fastmarkets.The Turkish deep-sea scrap import prices fell in the week because steel mills resisted for lower prices amid limited steel trade. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was calculated at $475.96 per tonne on July 28, down by...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
Prices of hot-rolled coil across China's domestic market followed futures prices higher on Thursday July 29, while the export market remained muted amid persistent fears of changes in the export tax policy, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,920-5,950 yuan ($916-920) per tonne, up by 40-50 yuan per tonneGains in the most-traded HRC contract on the Shanghai Futures Exchang...Read More
Bangladeshi steelmakers have dipped into the market for small tonnages of containerized heavy melting scrap at slightly lower prices over the past week, market participants told Fastmarkets on Thursday July 29.Overall steel scrap demand remained low, with the country still in a strict Covid-19 lockdown and facing production restrictions, but a small number of deals were heard closed...Read More