The Turkish steel mills remained mostly quiet in the deep-sea scrap import markets over the week ended Friday June 25, due to limited rebar export sales, while demand from Asia was supporting exporters on the US West Coast.Turkish mills ended the working week with a single cargo dealUS West Coast scrap export market strengthened with sales to BangladeshVietnamese buyers seek cargoes from US, Austr...Read More
European Metal Recycling (EMR) will commit to a net zero carbon emissions target across all three emission scopes, the company said on June 24.EMR aims to be carbon neutral by 2040 across scopes 1, 2 and 3 of relevant greenhouse gas emissions, and to provide its customers with traceability of its materials across the supply chain.EMR's goal is to reach net zero for indirect emissions created by th...Read More
Prices for shredded steel scrap imported into India and Pakistan have moved down over the past week on poor demand, sources told Fastmarkets on Friday June 25.Fastmarkets' calculation of the steel scrap shredded, index, import, cfr Nhava Sheva, India, was $524.57 per tonne on June 25, down from $531.17 per tonne on June 22 and $533.93 per tonne on June 18.Deal levels this week ranged widely, from...Read More
Relatively tight supplies and firm demand from major processors that sell product to steel mills supported the light iron market over the week to Friday June 25, with prices expected to hold firm into early July when consumers return for monthly delivery settlements for that month, sources have told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered...Read More
The price of pig iron exported from the Commonwealth of Independent States dipped in the week to Thursday June 24 on reduced buying activity after key consumers restocked earlier in June and are now anticipating lower prices. Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $610-635 per tonne on Thursday, widening downward from $625-635 per to...Read More
Iron ore prices increased across the board on Friday June 25, boosted by an increase in downstream steel prices. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $216.45 per tonne, up $2.99 per tonne 62% Fe low-alumina fines, cfr Qingdao: $218.75 per tonne, up $1.67 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $187.16 per tonne, up $3.30 per tonne 65% Fe Brazil-origin fines, cfr...Read More
China's domestic hot-rolled coil prices pushed up on Friday June 25, after futures prices increased following talks of production curbs on steel mills in the Tangshan steelmaking hub in northern China.DomesticEastern China (Shanghai): 5,380-5,450 yuan ($833-844) per tonne, up by 80-90 yuan per tonne. Northern China (Tangshan): weekly assessment: 5,280-5,330 yuan ($818-826) per tonne, down by 150-1...Read More
China's domestic rebar prices rose for a second day on Friday June 25 on rising futures, though market participants expect the market to weaken next week as a result of softening demand.DomesticEastern China (Shanghai): 4,840-4,870 yuan ($747-752) per tonne, up by 20 yuan per tonneNorthern China (Beijing) weekly assessment: 4,750-4,800 yuan per tonne, down by 170-180 yuan per tonneRebar futures st...Read More
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.United States President Joe Biden agrees a $1 trillion infrastructure deal......which should be good for metals because it focuses on upgrading roads, bridges and broadband networksBase...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Fleur Ritzema, Cristina Belda...Read More
The standard grade cobalt metal price rally continued through to the final assessment of the week on Friday June 25, pushed higher by a mix of consumer and trader buying. Units are in strong hands and traders are aggressive with offers, often looking to hit above the range for any inquiries of 10 tonnes or more. The number of inquiries is consistent and traders continue to pick up units - helping...Read More
An overview of the aerospace materials markets and the latest price moves.Read More
China plans to carry out a pilot program to develop rooftop distributed solar photovoltaics (PVs) across the country, according to a notice issued recently by the nation's National Energy Administration (NEA).Metal market participants were bullish about the long-term development of solar energy in China. They said that such a policy would benefit solar energy-related markets such as tellurium and...Read More
Fastmarkets has corrected its germanium dioxide, in-whs China, $/kg, which was published incorrectly on Friday June 25 due to a reporting error.Fastmarkets' weekly price assessment for germanium dioxide, in-whs China, $/kg (MB-GER-0003) was originally published at $720-1,200 per tonne on June 25, when it should have been $720-825 per tonne.Fastmarkets' pricing database, MInD, has been updated to r...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade,...Read More
European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More
The price of austenitic stainless steel scrap in Europe and the United Kingdom moved up this week on higher nickel costs, Fastmarkets heard on Friday June 25.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids import, cif main European port was ?,?1,440-1,470 ($1,718-1,754) per tonne on Friday, up by ?,?20-30 per tonne week on week. The three month London Metal Exchange pric...Read More
Turkish steel mills ended the working week with a single deep-sea cargo amid limited rebar demand, especially in the export markets, sources told Fastmarkets on Friday June 25.A steel mill in the Izmir region booked a United States-origin cargo comprising 10,000 tonnes of heavy melting scrap 1&2 (80:20) at $499 per tonne, 16,000 tonnes of shredded and 2,000 tonnes of bonus at $519 per tonne cfr on...Read More
Customer requirements and financing will shape the decarbonization of the steel industry, panelists said at Fastmarkets' 2021 Steel Success Strategies Industry Briefing earlier this week.The steel industry is not shaping decarbonization - instead, external forces are driving it, McKinsey & Co partner Benedikt Zeumer said on Tuesday June 24."Customer requirements will bolster industry to reduce the...Read More