Domestic prices for European heavy steel plate increased again in the week to Wednesday April 7, supported by higher slab costs and lower supply for spot buyers, sources told Fastmarkets.Steelmakers have also been targeting further price increases, sources said.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was ?,?740-760 ($879-903) per tonne on April 7,...Read More
The uptrend in Europe's hot-rolled coil market continued on Thursday April 8, with prices supported by a persistent lack of material, while ArcelorMittal has increased offer prices again, Fastmarkets heard. Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?895 ($1,065.41) per tonne on April 8, up by ?,?1 per tonne from ?,?894 per tonne on Wednesday Ap...Read More
A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) for the full-year of 2020, parent company Votorantim's earnings report, released on Thursday April 8, said.In brief Total aluminium sales volume growth was largely due to the downstream segment after the acquisition of a former Arconic sheet and foil unit in the Brazilian northeastern sta...Read More
Brazilian exports of alumina were up by 40.01% year on year in March, after the two main producers, Alunorte and Alumar, increased their shipments, data from the country's economy ministry, published on Wednesday April 7, show.Exports totaled 886,640 tonnes in March, rising from 633,254 tonnes the year before. Canada was the main destination during the month, with 294,139 tonnes arriving, while No...Read More
Canada-headquartered zinc producer Trevali Mining signed a 15-year power supply agreement with Emerging Markets Energy Services (Emesco) for its Rosh Pinah mine in Namibia, the company said on Wednesday April 7.The deal is part of the miner's efforts to reduce greenhouse gas (GHG) emissions by 25% from 2018 until 2025. This particular agreement, according to the company, will contribute with a 6%...Read More
The build-up in expected times to deliver aluminium material out of London Metal Exchange warehouses in Port Klang has created a gap in warrant premiums for the metal unseen since Fastmarkets started covering the market in January 2017.Queue times at some warehouses are reported to be at three months, at least, in some Port Klang warehouses, with other traders telling Fastmarkets that the next ava...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
China's domestic stainless steel prices widened downward during the week ended Wednesday April 7 on selling pressure, though nickel prices increased.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $16,731 per tonne, up by $581 per tonne from $16,150 per tonne a week earlier.The most-traded June nickel contract on the Shanghai Futures...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
Export billet prices from the Commonwealth of Independent States (CIS) continued to increase on Thursday April 8 on support from growing offers from some major suppliers amid rising scrap costs as well as a supportive Chinese market.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $428.42 per tonne, down by $0.43 per tonne day on day and up by $11....Read More
The European Commission (EC) will terminate the anti-subsidy investigation into hot-rolled coil (HRC) from Turkey without imposing duties, according to a letter sent from the EC to the interested parties on April 7 and seen by Fastmarkets.This decision, however, will come into force only after the Official Journal of the European Union is published, Fastmarkets understands.In February 2021, t...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
ArcelorMittal Europe has again increased its official offer prices for all steel coil products across Europe, sources told Fastmarkets on Thursday April 8.New offers for hot-rolled coil were heard at ?,?920 ($1,093) per tonne ex-works, up by ?,?20 ($23.75) per tonne from ?,?900 per tonne ex-works. This increase followed three price hikes in March.Fastmarkets calculated its daily steel hot-rolled c...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
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
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
The premium hard coking coal price kept largely steady in the cfr market on April 8 due to the large gap between offers and bids due to supply tightness and weak demand while the fob premium hard coking coal price slightly slipped amid low trading, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $114.96 per tonne, down $0.15 per tonnePremium hard coking coal, cfr Jingtan...Read More
The import price for heavy scrap (HS) into China stabilized on Thursday April 8 due to softer downstream steel markets, although importers were still actively seeking cargoes, sources told Fastmarkets.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China was unchanged at $475-480 per tonne on Thursday. Major steel product prices dropped in China's domestic...Read More
Ukraine's Ferrexpo produced 2.71 million tonnes of high-grade iron ore pellet in the first quarter of 2021, the company said this week.Of the total, 2.7 million tonnes were 65% Fe Ferrexpo Premium pellets and 35,000 tonnes 67% Fe Direct Reduction (DR) pellets.The January-March production figure was just 0.4% shy of 2020's first-quarter total of 2.73 million tonnes, but was down by 12% from the 3.0...Read More