Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Russia has introduced a temporary export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved a temporary export duty of 5% but of at least 45 euros per tonne on steel scrap exports, according to a statement...Read More
Turkish deep-sea scrap import prices refreshed their multi-year highs at the beginning of the week with the news of fresh deals for European and US cargoes on Monday December 21.A steel mill in the Marmara region booked a European cargo, comprising HMS 1&2 (80:20) at $455 per tonne, shredded and bonus at $470 per tonne and busheling at $475 per tonne cfr. And another steel producer in the same reg...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Transaction prices for domestic steel hot-rolled coil increased further across Europe in the week to Friday December 18, due to limited supply from both domestic and overseas suppliers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?650 ($796.90) per tonne on Friday December 18, up by ?,?43.75 per tonne week on week and by ?,?112.08 per tonne month...Read More
The domestic hot-rolled coil price increased day on day in Northern Europe on Monday December 21 following a rise in ArcelorMittal's offers at the end of last week.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?660.40 ($808.93) per tonne on Monday, up by ?,?10.40 per tonne from ?,?650.00 per tonne on Friday.The index was also up by ?,?37.07 per to...Read More
Domestic flat steel suppliers to Russia's Central Federal District around Moscow were increasingly bullish in the week to Monday December 21 amid a rising export market and good buying activity, sources told Fastmarkets.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 55,500-58,000 roubles ($755-789) per tonne including 20% value-add...Read More
Prices for cold-heading quality (CHQ) and high-carbon wire rod in the United States both surged by $5 per hundredweight ($20 per short ton) month on month, supported by higher ferrous scrap prices. Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 13.42% to $42.25 per cwt ($845 per ton) on Friday December 18 from $37.25 per cwt the prior month.Fastmark...Read More
Domestic rebar producers in Russia's Central Federal District around Moscow have withdrawn their offers for January supply in anticipation for returning at higher prices, several sources told Fastmarkets on Monday December 21.Last week, domestic rebar prices in the region increased sharply with Russian producers citing strong exports as the key driver for the rise.As a result, all major producers...Read More
China is taking a tougher stance on steel capacity swaps in a bid to control pollution emissions from its mammoth steelmaking industry and alleviate oversupply.Its Ministry of Industry & Information Technology (MIIT) released a draft last week to seek feedback from steel industry sources on increasing the steel capacity swap ratio to 1.5:1 from 1.25:1.This means that a steelmaker will need to cut...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Vale's permit for running operations in Brumadinho city was suspended for seven days following a landslide that caused the death of an employee from a third party contractor in the company's C??rrego do Feij??o mine in Brazil's southeastern Minas Gerais state.The Brumadinho city hall decided to suspend the permit after the accident, which occurred during maintenance activities in the mine on Frida...Read More
Turkish deep-sea scrap import prices refreshed their multi-year highs at the beginning of the week with the news of fresh deals for European and US cargoes on Monday December 21.A steel mill in the Marmara region booked a European cargo, comprising HMS 1&2 (80:20) at $455 per tonne, shredded and bonus at $470 per tonne and busheling at $475 per tonne cfr. And another steel producer in the same reg...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.The price increases since early October have stunned market watchers with their speed and magnitude, leading many market veterans to compare it to a similar price climb in 2008 - and the precipitous drop t...Read More
China's domestic rebar prices surged further on Monday December 21 to their highest in 25 months on strong gains in the futures and billet markets.DomesticEastern China (Shanghai): 4,580-4,600 yuan ($700-704) per tonne, up by 240-250 yuan per tonneThe price of billet increased by 160 yuan per tonne during the weekend to 3,880 yuan per tonne before gaining another 120 yuan per tonne on Monday to re...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Vale's permit for running operations in Brumadinho city was suspended for seven days following a landslide that caused the death of an employee from a third party contractor in the company's C??rrego do Feij??o mine in Brazil's southeastern Minas Gerais state.The Brumadinho city hall decided to suspend the permit after the accident, which occurred during maintenance activities in the mine on Frida...Read More