China's leading stainless steel producer, Tsingshan Group, has set its tender price for August-delivery ferro-chrome at 10,795 yuan ($1,665) per tonne, the company announced on Monday July 26. This is its highest tender price since September 2008.The tender price is also 2,400 yuan per tonne (29%) than what the eastern Chinese mill had sought for July-delivery material.Supply interruptions Market...Read More
CIS slab exporters remained quiet this week, waiting for the return of Turkish customers from a week-long religious holiday, sources told Fastmarkets."I think sales will wait to see the reaction of Turkish market and prices this week," a Russian producer source said."[Ukraine's] Metinvest is looking for bids but not really offering a price," a trader said.Another trading source said that offers he...Read More
Domestic prices for hot-rolled coil were fairly stable in Europe over the week ended Friday July 23 due to a seasonal demand slowdown and limited availability.Firm offers were still scarce in the Northern European HRC market. Mills in the region had good order books and could only offer fourth-quarter production HRC, with some of them claiming to be sold out until the year-end.The already short su...Read More
Domestic prices for hot-rolled coil inched down in Northern Europe but were unchanged in Italy on Monday July 26 due to limited trading activity, sources told Fastmarkets.Offers from Northern European suppliers remained limited. Mills in the region had good order books and could only offer fourth-quarter-production HRC, with some of them claiming to be sold out until the end of the year, sources s...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
The price of nickel ore narrowed upward amid limited supply in the week to Friday July 26 amid bad weather and increasing Covid-19 infections in southeast Asia, while the cargo liquefaction of nickel ores also concerned sources, Fastmarkets learned.Fastmarkets' latest assessment for the price of laterite ore with 1.5% Ni content, cif China was $78-80 per tonne on Friday July 23, up by $3 (1.0...Read More
Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...Read More
Spot rebar import prices in Singapore widened downward during the week to Monday July 26 on the return of Indian material in the spot market, sources told Fastmarkets.An Indian rebar cargo was offered by a trader at $740-745 per tonne cfr Singapore, although this was not met by any interest from Singaporean buyers.There were also offers for Middle Eastern rebar at $750-755 per tonne cfr Singapore...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
Copper's three-month price on the London Metal Exchange rose to $9,809.50 per tonne at the close of trading on Monday July 26, an increase which led most other prices in the complex higher as well.The red metal closed near its intraday high of $9,826.50 per tonne, the highest for copper since June 15. Intense buying took its volumes on Monday to 24,000 lots traded by 5pm, also the highest since th...Read More
A summary of China's battery raw materials exports for June 2021.In brief Exports of cobalt tetroxide increased both month on month and year on year in June amid rising buying appetite from South Korea, the Netherlands and Belgium.Lithium carbonate exports fell slightly on a monthly...Read More
Iron ore prices edged up on Monday July 26 due to higher steel prices, while news of production cuts in China affected the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.74 per tonne, up by $1.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.93 per tonne, up by $1.07 per tonne58% Fe fines high-grade premium, cfr Qingdao: $167.65 per tonne, up b...Read More
Crude steel production cuts that are gradually being implemented in China have resulted in a switch in preference for iron ore brands among steelmakers in the country, sources told Fastmarkets.While the overall demand for iron ore has started to weaken, low-grade fines are generating more buying interest, sources said.A month ago, low-grade fines started to gain favor among mills amid weakening ma...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
Domestic prices for hot-rolled coil were fairly stable in Europe over the week ended Friday July 23 due to a seasonal demand slowdown and limited availability.Firm offers were still scarce in the Northern European HRC market. Mills in the region had good order books and could only offer fourth-quarter production HRC, with some of them claiming to be sold out until the year-end.The already short su...Read More
China's domestic rebar prices maintained their upward trend on Monday July 26 on replenishment demand from trading houses, but end user demand remained weak, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,340-5,370 yuan ($823-828) per tonne, up by 70-80 yuan per tonneTrading houses purchased actively on Monday because they expect rebar prices to rise due to likely production res...Read More
ArcelorMittal is to enter a partnership with Sekisui Chemical on a carbon capture project, and invest in a renewable energy storage company as part of its XCarb innovation fund, the steelmaker has announced.The project will be intended to capture and re-use carbon waste gases from the steelmaking process, contributing to the decarbonization of steelmaking and reducing dependence on fossil resource...Read More
CIS slab exporters remained quiet this week, waiting for the return of Turkish customers from a week-long religious holiday, sources told Fastmarkets."I think sales will wait to see the reaction of Turkish market and prices this week," a Russian producer source said."[Ukraine's] Metinvest is looking for bids but not really offering a price," a trader said.Another trading source said that offers he...Read More