Steel reinforcing bar prices in the United States increased on Wednesday July 14 for the first time since June 16. Fastmarkets' assessment for steel rebar, fob mill US was $49 per hundredweight ($980 per short ton) on Wednesday, up 2.08% from $48 per cwt the previous week and up 70.44% from $28.75 per cwt at the same time last year.US marketNucor Corp and Mid-Continent Steel and Wire each increase...Read More
Domestic prices for hot-dipped galvanized coil in northern Europe were stable in the week to Wednesday July 14 despite a decline in offers for overseas material, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil import, cfr main port Northern Europe was ?,?1,200-1,240 ($1,417-1,464) per tonne on July 14, down by ?,?50-60 per tonne week on week from...Read More
Demand for steel rebar and billet in Egypt was subdued in the week to Thursday July 15 because buyers preferred to wait until after the upcoming Eid al-Adha holiday before conducting new business, sources told Fastmarkets.Eid al-Adha is expected to take place next week and market participants did not want to make any bookings before the four-and-a-half-day religious holiday.At the same time, uncer...Read More
A summary of operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), for January-June 2021 compared with the same period of last yearIn brief NLMK group sales of 8.24 million tonnes were down by 7% year on year from 8.86 million tonnes. Sales in its home markets, which include Russia, the US, Belgium, Italy and France, increased by 3% to 5.5 million tonnes from 5.36 million...Read More
Steel reinforcing bar prices in the United States increased on Wednesday July 14 for the first time since June 16. Fastmarkets' assessment for steel rebar, fob mill US was $49 per hundredweight ($980 per short ton) on Wednesday, up 2.08% from $48 per cwt the previous week and up 70.44% from $28.75 per cwt at the same time last year.US marketNucor Corp and Mid-Continent Steel and Wire each increase...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 15 that are worth another look.Brazilian steel producers have accepted a reduction of 10% in import duties, and agreed to avoid raising domestic prices further, according to the country's economy minister, Paulo Guedes.Aluminium producer UC Rusal will...Read More
Brazilian steel producers have accepted a reduction of 10% in import duties, and agreed to avoid raising domestic prices further, according to the country's economy minister, Paulo Guedes.The government has been in talks with representatives of steel producers, the country's construction industry and other end users. They are discussing options to normalize supply of rebar and other steel products...Read More
The European Commission (EC) has proposed a revision of the EU Emissions Trading System (ETS) that would substantially reduce the overall cap on carbon dioxide emissions and increase the annual rate of reduction as part of the EU Green Deal, it said on Wednesday July 14.The EC has an ambitious target to achieve net reductions in emissions of at least 55% by 2030, compared with 1990 levels. The pre...Read More
China's domestic stainless steel prices rose sharply over the week to Wednesday July 14 on concerns of tighter supply amid growing expectations for mills to cut production.Gains in the nickel market provided further support to stainless steel prices.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,698 per tonne, up by $381 per tonn...Read More
(Adds detail, writes through) MELBOURNE, July 16 (Reuters) - Rio Tinto reported a 12% fall in quarterly iron ore shipments on Fridayafter storms affected its West Australian operations, but isexpected to report bumper results this month on soaring pricesfor the steel raw material. Rio said it now expects to ship near the lower end of itsrange of 325 million tonnes (mt) and 340 mt in calendar 2021,...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
China's domestic ferro-chrome prices rose further in the week ending Tuesday July 13 after major production regions imposed tighter power restrictions, while prices for imported charge chrome followed suit amid bullish sentiment across international markets.The county of Huade in Inner Mongolia ordered a number of local smelters to halt production for 15-20 days from July 6 because they exceeded t...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 14.Please click...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More
Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.In addition to retaining a minority...Read More