Domestic steel reinforcing bar prices in the United States stabilized after last week's spike, while import prices continue to climb.Fastmarkets' weekly assessment for steel reinforcing bar, fob mill US was $48 per hundredweight ($960 per short ton) on Wednesday June 23, unchanged from the previous week, but up 11.63% from $43 the month before.US marketAlthough the cost of rebar stabilized this we...Read More
Turkish steel mills have broken their silence in the deep-sea scrap import markets with a fresh US cargo sold at a slightly lower price, market sources said on Thursday June 24.A steel mill in the Izmir region booked a United States-origin cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $499 per tonne, 16,000 tonnes of shredded and 2,000 tonnes of bonus at $519 per tonne cfr....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
Turkish steel mills have broken their silence in the deep-sea scrap import markets with a fresh US cargo sold at a slightly lower price, market sources said on Thursday June 24.A steel mill in the Izmir region booked a United States-origin cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $499 per tonne, 16,000 tonnes of shredded and 2,000 tonnes of bonus at $519 per tonne cfr....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
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
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
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
China's domestic stainless steel prices rose to their highest in four-and-a-half years over the past week after producers made upward adjustments to their list prices.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,900-17,500 ($2,609-2,701) per tonne, up by 300 yuan per tonne Prices were last at these levels in December 2016, according to Fastmarkets' data.High productio...Read More
Turkish steel billet prices have gone down over the past week due to falling long steel values and limited demand, market sources said on Thursday June 24.Turkish rebar and wire rod export prices have also been falling this week, which helped to drive the fall in values.The steelmakers in Turkey lowered their billet offers for domestic buyers to $675-685 per tonne ex-works from last week's $685-70...Read More
The price for importing hot-rolled coil steel into the United States reached a record high for the second time in June, with domestic buyers competing with increased global demand for flat-rolled products.The volume of import offers has fallen in an already coil-starved US market, sources said."We have not seen any foreign HRC offers of late," a consumer said. "The Canadian and Mexican steel mills...Read More
European hot-rolled coil prices pushed up on Thursday June 24, despite limited trading, supported by ongoing shortages and with ArcelorMittal again raising its offer prices just a month after its previous increases.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,190.87 ($1,421.20) per tonne on Thursday, up by ?,?5.83 from ?,?1,185.04 per tonne o...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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 standard grade, in-whs...Read More
China's domestic rebar prices increased on Thursday June 24 in response to futures gains on Wednesday, stimulating demand for restocking, sources said.DomesticEastern China (Shanghai): 4,820-4,850 yuan ($745-749) per tonne, up by 10-20 yuan per tonneOctober rebar futures on the Shanghai Futures Exchanged increased on Wednesday night to trade as a high of 5,022 yuan per tonne, up by 88 yuan per ton...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
All base metals prices on the London Metal Exchange, except for copper, finished slightly higher on Thursday June 24, with the recovery continuing after last week's decline while the US Dollar Index consolidated on low ground to lend support to the complex.Nickel led the way on the LME, rising by 1.9% at the close of trading on Thursday to $18,407 per tonne, up from its Wednesday closing price of...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 has agreed a $1 trillion infrastructure deal, which should be good for metals because it focuses on upgrading roads, bridges and broadband network...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
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