Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More
The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly, thus depriving European customers of diverse supply options,Fastmarkets understands.Russia Russian mills have already consumed about 80-90% of both thei...Read More
Market participants in Egypt continued to wait for the easing of construction regulations, leaving rebar prices unchanged since 2020, sources told Fastmarkets on Thursday, April 8.Demand for rebar in the country has remained weak since the imposition of a construction ban in May 2020 and has stayed that way despite a slight relaxation of the rules in September 2020.The Egyptian government is expec...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Bangladeshi steelmakers have continued to book United States-origin deep-sea scrap cargoes over the last week, with prices moving up slightly, sources told Fastmarkets on Thursday April 8.A Bangladeshi mill bought two cargoes of 30,000 tonnes from the US West Coast at an average price of $465 per tonne cfr for a composite cargo of heavy melting scrap 1&2 (80:20) and shredded scrap last week, Fastm...Read More
Turkish steel mills continued with their deep-sea scrap purchases for May shipments at steady prices on Thursday April 8, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $433 per tonne, 3,000 tonnes of shredded at $438 per tonne and 3,000 tonnes of bonus scrap at $443 per tonne cfr.A steel mill in the Izmir region boo...Read More
Light vehicle production in Mexico rose 12.52% year on year in March, despite a large drop in exports, according to data published by the local automotive association, Amia, on Thursday April 8.Mexican automakers produced 303,545 units in March, up from 269,774 units a year before, Amia said. Production numbers were already showing signs of weakening toward the end of March 2020, when the Covid-19...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Tata Steel's recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.Yogesh Bedi, chief of Tata Steel Recycling Business, told Fastmarkets the company was in the final stages of commissioning a shredder, which would let the company offer domestically produced shredded sc...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More
Fastmarkets has partnered with the CME Group to launch a cash-settled lithium futures contract, which will be settled against Fastmarkets' assessment for lithium hydroxide battery grade, spot price cif China, Japan & Korea, the exchange announced on Thursday April 8.The contract is due to be launched on May 3, subject to all relevant regulatory reviews, it said.Fastmarkets' lithium price is publis...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Most futures prices on the London Metal Exchange saw a bounce at the close on Thursday April 8, following the retreat of the US Dollar Index. Nickel's three-month price resumed its upward trajectory on Thursday, reaching an intraday high of $16,875 per tonne - its highest level since early March. The metal closed at $16,828 per tonne, a 1.1% increase on its Wednesday reading of $16,636 per to...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More
Michael Insulan has joined First Cobalt as vice president, commercial, tasked with advancing the company's offtake strategy and the marketing of its refinery's cobalt sulfate production to electric vehicle (EV) manufacturers and battery cell makers. Based in Europe, Insulan was most recently at a senior market analyst at cobalt producer Eurasian Resources Group. He has previously held roles at CRU...Read More
The announcement of a 1.529 billion yuan ($233.6 million) limited partnership agreement between major Chinese manganese miners and traders has left many in the market weighing up the significance of such a move.South Manganese Investment, formerly Citic Dameng Holdings, entered into a limited partnership agreement with 10 participants involved in manganese mining and trading, according to a notice...Read More
Most futures prices on the London Metal Exchange saw a bounce at the close on Thursday April 8, following the retreat of the US Dollar Index. Nickel's three-month price resumed its upward trajectory on Thursday, reaching an intraday high of $16,875 per tonne - its highest level since early March. The metal closed at $16,828 per tonne, a 1.1% increase on its Wednesday reading of $16,636 per to...Read More
The month-long inspections on steel mills outside Tangshan that started on April 6 have eroded already weak iron ore demand in China, keeping iron ore price movements largely rangebound on Thursday April 8. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.10 per tonne, down $0.53 per tonne 62% Fe low-alumina fines, cfr Qingdao: $173.71 per tonne, down $0.45 per tonne 58% Fe fines high-...Read More
Nickel continued to reach its highest prices in a month while the rest of base metals on the London Metal Exchange were marginally higher on Thursday April 8, with the prospect of more economic stimulus and supportive fiscal measures in the United States boding well for equity markets and metal futures. Nickel's three-month price reached an intraday high of $16,800 per tonne during early trading o...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More