Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
The continuing upward trend in global standard-grade cobalt benchmark prices is inspiring optimistic sentiment across the market and supporting domestic cobalt sulfate and tetroxide prices in China, sources told Fastmarkets this week.Renewed demand in Europe since the middle of June led to an increases in international cobalt benchmark prices and has revived bullish sentiment, leading to a new rou...Read More
Domestic prices for hot-dipped galvanized coil in Europe increased in the week to Wednesday June 23, supported by tight supplies and good demand, sources told Fastmarkets.European producers have full order books, with those in Northern Europe said to be sold out of 2021 rolling HDG, while Italian and Central European mills were still able to offer limited volumes for shipment in the fourth quarter...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
Domestic transaction prices for hot-rolled coil in Northern Europe went up on Wednesday June 23, driven by the continuing shortage of material, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,185.04 ($1,411.73) per tonne on Wednesday, up by ?,?30.04 from ?,?1,155.00 per tonne on June 22.The index was up by ?,?50.04...Read More
Hot-rolled coil prices in China's domestic market cruised higher on Wednesday June 23, with coking coal supply concerns actin as support and helping to stem the decline in steel futures prices.DomesticEastern China (Shanghai): 5,280-5,380 yuan ($814-830) per tonne, up by 10-70 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange climbed more than 1% to an intraday high of...Read More
US imports of standard steel welded wire mesh from Mexico are being or are likely to be sold at less than fair value, the Commerce Department said in a final determination on Wednesday June 23.The weighted-average dumping margin has been set at 110.42% for Deacero SAPI de CV and 23.04% for Aceromex SA de CV and all other exporters. Commerce had estimated those margins at 23.67-152.68% in its preli...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 23 following an increase in feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,370-1,420 ($1,632-1,692) per tonne on June 23, up from ?,?1,320-1,340 per tonne on June 16.The price of hot-rolled coil, the feedstock for hollow sections...Read More
The rebar price in Southern Europe held steady at multi-year high levels on Wednesday June 23 due to supply shortages and surging scrap feedstock costs, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was at ?,?760-785 ($905-935) per tonne on Wednesday, the same as last week. The price, however, has been ris...Read More
Buyers in South Korea have been willing to pay higher prices for Japanese scrap recently, outbidding Chinese buyers, sources told Fastmarkets on Wednesday June 23.The South Korean market has been highly interested in higher-quality scrap from Japan in recent months amid high special steel demand and rising scrap intake at some basic oxygen furnaces (BOFs) due to carbon neutrality policie...Read More
Rebounds were under way in the base metals in London and Shanghai this morning, Wednesday June 23, but we will have to wait to see how the metalsreact to today's manufacturing purchasing managers index (PMI) data.To reassure the markets, United States Federal Reserve chairman Jerome Powell said: "We will not raise interest rates pre-emptively because we think employment is too high [or] because we...Read More
Australia-listed IGO Ltd is one step closer to forming a joint venture with Chinese lithium producer Tianqi Lithium after key regulatory requirements for the internal restructuring of the Australasian arm of the latter to proceed have been satisfied, IGO said on Tuesday June 22. In December 2020, both companies signed an initial investment agreement which saw Tianqi's wholly-owned subsidiary Tianq...Read More
A summary of China's ores and alloys imports for May 2021.In brief May imports of ferro-chrome declined because buyers were less concerned about domestic supply after Inner Mongolia loosened its energy controls on high consuming companies in the second quarter. Manganese ore imports rose month on month with increased arrivals from...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
Base metals prices on the London Metal Exchange continued to trade higher across the board during the day on Wednesday June 23. Prices across the complex followed their recent upward momentum during Wednesday's trading as a result of pacified market sentiment following the testimony given by Federal Reserve chairman Jerome Powell to Congress on Tuesday. "In his testimony, Powell's tone was relativ...Read More
A three-week price rally for the ferro-chrome market in China sped up in the week to Tuesday June 22 on bullish market sentiment after leading producers in China initiated higher prices amid production uncertainty."Production has been greatly impacted amid the uncertainty brought by Inner Mongolia's energy controls and electricity supply shortage. This, together with sharply increased production c...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
A summary of China's ores and alloys exports for May 2021.In brief China's silico-manganese export market was active due to a combination of strong demand and tight supply in the global silico-manganese market. APT exports in May dropped amid a slow overseas market. Overseas buyers were cautious in buying the material once the price reached $270 per...Read More
Turkish steel producers have extended their absence in the deep-sea scrap market due to weak rebar sales, market participants told Fastmarkets on Wednesday June 23.Steelmakers have now been absent from the market since June 15, when two cargoes were sold into Turkey from the United States.A mill in the Marmara region bought both cargoes, comprising HMS 1&2 (80:20) at $500 and $501 per tonne, plus...Read More