Five grades of steel scrap will no longer need to undergo customs inspections at ports in China when they are imported into the country, beginning on June 10.But five other grades of the steelmaking raw material will undergo such inspections from the same date.China's General Administration of Customs said on Thursday June 3 that it would no longer carry out imported commodity inspections on a lis...Read More
Domestic steel rebar prices in Turkey have gone down over the past week amid falling scrap costs, market sources said on Thursday June 3.Turkish scrap import prices have fallen over the week amid limited demand from the mills in the country.Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, at $495.27...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 3 that are worth another look.Russia's largest steelmaker, Novolipetsk Steel (NLMK), will start producing hot-briquetted iron (HBI) and increase its iron ore and pellet output by 2027-2028, the company told Fastmarkets.BHP, the majority owner and operator of...Read More
Sentiment in the steel wire rod market in the south of Europe remained quite optimistic over the past week, aided by persistent shortages, good demand and expensive raw materials, Fastmarkets heard on Wednesday June 2.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?820-840 ($1,001-1,025) per tonne on June 2, up from ?,?800-810 per...Read More
Five grades of steel scrap will no longer need to undergo customs inspections at ports in China when they are imported into the country, beginning on June 10.But five other grades of the steelmaking raw material will undergo such inspections from the same date.China's General Administration of Customs said on Thursday June 3 that it would no longer carry out imported commodity inspections on a lis...Read More
Prices for steel scrap imported into China edged up on Thursday June 3 amid improving sentiment in the domestic market, sources said.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China - which takes into account prices at ports in eastern China - was $510-530 per tonne on Thursday, up by $10-15 from Wednesday.Many Chinese mills raised their purchase price...Read More
Production of copper and zinc in Peru fell in April, although output for January-April 2021 is still above 2020 levels, according to the latest data from the country's Ministry of Energy & Mines (Minem).Copper production in Peru was 173,151 tonnes in April, a 5.3% decrease from 182,756 tonnes in March, Minem data shows.Production during January-April 2021 was up 10% from the same period in 2020 to...Read More
Prices for copper scrap in the United States steadied this week amid slack buying demand; many consumers have already filled their immediate quotas and are now looking at volumes for August delivery, according to sources."There are those looking for narrower discounts due to the down trade with Comex. It appears wishful thinking," one trader said. "We find consumers have covered all of their requi...Read More
Index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.U.S. equity futures moved slightly higher following release of the May employment report at 8:30 AM EDT. May Non-farm Payrolls were expected to increase to 671,000 from upwardly revised 278,000 in April. Actual was 559,000. May Unemployment Rate was expected to slip to 5.9% from 6.1% in April. Actual...Read More
The world's second-largest copper mine, currently in expansion, will send 40% of its copper concentrate output in Phase 1 to a domestic smelter in the Democratic Republic of Congo (DRC), with negotiations to sell their copper output still underway, sources said.Kamoa Copper, operating out of Kamoa Kakula mine, signed a ten-year agreement with Lualaba copper smelter (LCS), of China Nonferrous Metal...Read More
BHP, the majority owner and operator of Minera Escondida in Chile, will have to spend $93 million as part of an environmental plan drawn up to resolve a legal dispute last year, the country's First Environmental Court said on Wednesday June 2.The Chilean State brought a law suit against BHP in April 2020 over environmental damage related to its excessive extraction of water at the Salar de Punta N...Read More
China's Ceke Port has requested the country's customs authorities to clear only 90 trucks per day from Mongolia - instead of the typical 200 per day - from Wednesday June 2 after a truck driver tested positive for Covid-19 a day earlier, sources told Fastmarkets.Ceke Port - located in Alashan League, a division of China's Inner Mongolia autonomous region - is a major port of entry on the country's...Read More
The Turkish long steel export market remained quiet over the past week on a lack of demand from Southeast Asia, while falling scrap costs were increasing the pressure on prices, market participants told Fastmarkets on Thursday June 3.The steelmakers in Turkey decreased their export rebar offers but still failed to find demand for their material.The mills were offering rebar for export at $730 and...Read More
Domestic steel rebar prices in Turkey have gone down over the past week amid falling scrap costs, market sources said on Thursday June 3.Turkish scrap import prices have fallen over the week amid limited demand from the mills in the country.Fastmarkets calculated the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, at $495.27...Read More
China's Delong Group and New Tianjin Steel are partnering on two projects to further develop steel-making capacity in Indonesia, the companies said on May 30.New Tianjin Steel - a subsidiary of Delong Group, Tsingshan Group and Risun Group - signed a contract to build Detian Coking Project, together with supporting facilities such as gas purifiers. The new coke plant will produce 4.7 million tonne...Read More
The world's second-largest copper mine, currently in expansion, will send 40% of its copper concentrate output in Phase 1 to a domestic smelter in the Democratic Republic of Congo (DRC), with negotiations to sell their copper output still underway, sources said.Kamoa Copper, operating out of Kamoa Kakula mine, signed a ten-year agreement with Lualaba copper smelter (LCS), of China Nonferrous Metal...Read More
Domestic European prices for hot-rolled coil were fairly stable day-on-day on Thursday June 3, supported by a persistent material shortage and strong demand, sources told Fastmarkets.The majority of Northern European producers were reported to be sold out of third-quarter-rolling coil, and suppliers in the region were ready to pay higher prices for material with earlier shipment.Italian producers,...Read More
Seaborne premium hard coking coal prices climbed up in the fob market on Thursday June 3 amid more buying interest but slightly slipped in the cfr market due to weak demand after some major Chinese steel mills finished restocking late last week and early this week, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.77 per tonne, up $7.93 per tonnePremium hard coki...Read More
China's domestic rebar prices continued to increase on Thursday June 3 on futures gains, but heavy rains slowed the increase compared with Wednesday's uptick, sources told Fastmarkets. DomesticEastern China (Shanghai): 5,030-5,050 yuan ($787-790) per tonne, up by 30 yuan per tonne The transportation of rebar by truck and construction activity were interrupted by heavy rains in certain parts of eas...Read More
Ukraine's Privat Group, a major producer of manganese alloys, hit a monthly production target for May of almost 59,000 tonnes at its Nikopol ferro-alloys plant, up by about 2,000 tonnes from April amid strengthening European prices this year, an industry source said.Privat is also considering whether to start an additional silico-manganese furnace at Nikopol, which would use low-phosphorus slag as...Read More