Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday July 26, mainly due to slow activity in the market and expectations of further price declines, sources told Fastmarkets.Market participants expected the downtrend to continue while the market reacts to the imposition of an export duty on steel products from Russia. This will be in effect from...Read More
Domestic steel prices for hot-rolled sheet in Russia's Central Federal District around Moscow went down in the week to Monday July 26, while prices for cold-rolled sheet and steel plate were unchanged, sources told Fastmarkets.Prices were under pressure from low levels of purchasing activity because buyers were expecting further price reductions, the sources added.Customers thought that mills woul...Read More
Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
The biggest steel producer of the United Arab Emirates, Emirates Steel, decreased its rebar price to 2,957 dirhams ($805) per tonne ex-works for orders to be produced in August, effective Tuesday, July 27.The company's previous rebar price, in effect from Sunday June 27, was 3,012 dirhams per tonne ex-works. UAE demand for steel rebar and billet was low during the week to July 27 because buyers w...Read More
Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.Prices for prime scrap showed small gains, with the generation of such grades still limited by low output in the automotive sector, and demand remaining strong.Some sources reported that one scrap buyer was increasing its price f...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
The biggest steel producer of the United Arab Emirates, Emirates Steel, decreased its rebar price to 2,957 dirhams ($805) per tonne ex-works for orders to be produced in August, effective Tuesday, July 27.The company's previous rebar price, in effect from Sunday June 27, was 3,012 dirhams per tonne ex-works. UAE demand for steel rebar and billet was low during the week to July 27 because buyers w...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
Prices of hot-rolled coil in China's domestic market edged lower on Tuesday July 27 and futures prices fell due to Covid-19 concerns and stock price tumbles weighing on market sentiment, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,880-5,900 yuan ($907-910) per tonne, down by 10-20 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange slipped after hitting an...Read More
Seaborne coking coal prices stayed large stable in both the cfr and fob markets on Tuesday July 27, with market participants in the later market waited for a sale tender result from a Europe steel mill, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.30 per tonne, down $0.33 per tonnePremium hard coking coal, cfr Jingtang: $315.76 per tonne, up $0.69 per tonne ...Read More
Import prices for HRS101-grade ferrous scrap into China were unchanged on Tuesday July 27 but steel production cuts dampened spot demand for the material, sources told Fastmarkets."The restrictions on crude steel production have reduced our demand for scrap to a minimum recently," a Chinese mill source based in Hebei province told Fastmarkets. "We will reduce our production rate starting next mont...Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
The export market for flat steel rolled products from the Commonwealth of Independent States was slow during the week to Monday July 26, due to the holiday period in the major outlets of Turkey, and the Middle East and North Africa region.Fastmarkets' weekly price assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $915-930 per tonne on Monday, down $5-10 from $920-940 per tonne a...Read More
Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, which expects first saleable production in 2026, the company said.Jadar, currently one of the world's largest greenfield lithium projects, remains subject to receiving all relevant approvals, permits and licenses, plus ongoing engagement with local communities, the Serbian government and civil society.According to...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 27 that are worth another look.More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind...Read More
China imported 76,336 tonnes of ferrous scrap in June, a 31% drop from May, according to the latest Chinese customs data.Of the total, 61,085 tonnes - or 80% - originated in Japan. South Korea remained China's second-largest scrap supplier in June, accounting for 9,713 tonnes (12.7%) of imports. Hong Kong (2,252 tonnes; 2.95%) and the United Kingdom (1,668 tonnes; 2.19%) were other significant sou...Read More
Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.Prices for prime scrap showed small gains, with the generation of such grades still limited by low output in the automotive sector, and demand remaining strong.Some sources reported that one scrap buyer was increasing its price f...Read More
* Senior judges say appeal has "real prospect of success" * Claimants' lawyers hail ruling as "monumental judgment" * BHP says proceedings do not belong in UK * 2015 dam failure caused Brazil's worst environmentaldisaster (Adds no comment from Vale) By Kirstin Ridley LONDON, July 27 (Reuters) - London's Court of Appeal made aU-turn on Tuesday by agreeing to reopen a $7 billion...Read More