Steelmakers in Bangladesh piled into the deep-sea bulk import market during the week to Thursday June 24, picking up several cargoes at slightly lower prices, sources told Fastmarkets.The rush for bulk material comes after certain mills picked up large tonnages of containerized scrap in recent weeks amid high capacity utilization rates in the country at major producers.With containerized scrap pri...Read More
The price of flat-rolled stainless steel in Europe resumed its upward trend this week amid a continuing supply shortage, sources told Fastmarkets on Friday June 25.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,450-3,500 ($4,116-4,176) per tonne on Friday, up ?,?100 from ?,?3,350-3,400 per tonne a week...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
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 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
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
Hot-rolled coil prices increased in Turkish domestic and export markets during the week to Friday June 25, following the news that Russia could impose export duties, sources told Fastmarkets.Russia's economy ministry proposed that the government impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU).Russia is one of the biggest flat steel e...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
China's Copper Smelters Purchase Team (CSPT) set the third-quarter base price for treatment and refining charges (TC/RCs) at $55 per tonne/5.5 cents per lb on Friday June 25, sources told Fastmarkets.The base price was agreed by CSPT's representatives at a meeting in Tongling, Anhui province on Friday. At the second quarter meeting, the CSPT did not reach an agreement on the...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
Copper's three-month price rose slightly on the morning of Friday June 25, despite another day of inflows into LME warehouses, while the rest of the London Metal Exchange prices also edged upwards. The LME three-month price of copper was at $9,467.50 per tonne on Friday shortly after 9am, up from its Thursday closing price of $9,419 per tonne. The metal's Thursday price was 1.3% lower than We...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
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
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
Consolidation has set in across the base metals on the London Metal Exchange this morning, Thursday June 24, while in Shanghai, moves were mixed in response to the combination of yesterday's strength and this morning's weakness on the LME.Broader markets also mixed this morning, suggesting that markets are waiting for directionBase metalsLME three-month base metals prices were down across the boar...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
Total world crude steel production among 64 major producer countries reached 174.4 million tonnes in May 2021, up by 16.5% compared with May 2020, the World Steel Association (Worldsteel) said on Tuesday June 22.All regions reported double-digit percentage increases in crude steel output compared with May 2020, which was substantially affected by the initial Covid-19-related lockdowns.Among the la...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Iron ore prices declined on increasing steel inventories and a high chance of stricter restrictions on steel mills ahead of centennial celebrations, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $213.46 per tonne, down $2.55 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.08 per tonne, down $2.26 per tonne58% Fe fines high-grade premium, cfr Qingdao: $183.86 per tonne,...Read More