Prices for steel slab in Iran's export market increased with new deals done over the week to Wednesday December 16, although billet prices remained stable, Fastmarkets learned.Iran's export billet prices are at their highest for the last 29 months, while Iran's steel slab export prices have reached their first new peak in 31 months.Iranian market participants expect a decline in the near future, h...Read More
A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger technology. The venture - a collaboration between the World Economic Forum and seven global companies that make up its Mining and Metals Blockchain Initiative (MMBI) - aims t...Read More
Rising hollow section prices in Europe this week reflected the struggle mills are facing to source feedstock material amid an ongoing shortage, sources told Fastmarkets on Wednesday December 16. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?740-750 ($899-911) per tonne on Wednesday, up from ?,?700-720 per tonne a week earlier. The availa...Read More
Rebar consumption in Egypt was up by almost 50% month on month in November due to a resurgence in restocking activity and after the easing of building restrictions led to a slight uptick in demand. Egypt consumed 689,000 tonnes of rebar in November 2020, up by 44.14% compared with the 478,000 tonnes of rebar consumed in October, according to Ramy Saleh, chief business development officer at El Mar...Read More
Stainless steel producer Outokumpu has upgraded its guidance for the fourth quarter of 2020 following better-than-expected sales, the Finnish company said on Tuesday December 15. With production facilities in Finland, Sweden, Germany, the UK, Mexico and the United States, and sales offices around the world, Outokumpu now expects its earnings before interest, taxes, depreciation, and amortization (...Read More
A shortage of scrap has forced Riva Group to halt steel making operations at its Hennigsdorf site in Germany, several sources told Fastmarkets on December 15.The rebar and wire rod producer had to suspend operations at the Hennigsdorf site, in Brandenburg state in the north east of Germany, last week because it had run out of steel scrap, several sources told Fastmarkets."Riva's Hennigsdorf has no...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
Hot-rolled coil prices in the United States continued to test 12-year highs following a wave of quietly announced but successful mill increases, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $48.89 per hundredweight ($977.80 per ton) on Wednesday December 16, up 5.3% from $46.44 per cwt on Tuesday December 15 and up 11.1% from $44 per cwt a...Read More
Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 16 due to a shortage of material in the market, sources told Fastmarkets.But the number of transactions and volumes were reported to be limited due to buyers' concern that the price rise is unlikely to be sustainable for long.Fastmarkets calculated its daily steel hot-rolled coil...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 16.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 16 that are worth another look.A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger...Read More
The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
LMEpassport, a new digital register for physical metals data, is to be rolled out by the London Metal Exchange in 2021, starting with aluminium and gradually phasing in other metals over the next three years.The digital register - part of a sustainability package that includes a spot trading platform and new contracts - is designed to provide a centralized transparency source, the data from which...Read More
Seaborne iron ore prices rose on Wednesday December 16 after the most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) crossed the 1,000 yuan-mark ($153) to close the afternoon trading session, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.45 per tonne, up $1.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $156.71 per tonne, up...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US flat product prices maintained momentum through November, with increases accelerating in early December in response to supply shortfalls, rising scrap prices, and improving demand.While we correctly forecast further pricing gains in November, actual prices surpasse...Read More
Turkish deep-sea scrap import prices continued to climb on Wednesday December 16, with fresh bookings heard from Europe and the Baltic Sea regions, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $435 per tonne and bonus at $445 per tonne cfr. The cargo composition could not be verified at the time of publication.Another steel...Read More
The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
The lead and zinc scrap markets in the United States remained strong heading into the final weeks of 2020 while increased demand for scrap from foreign buyers as well as demand for new, replacement car batteries kept market sentiment firm."New battery demand is still heavy and expected to continue until March with a harsh winter forecast," one consumer said. "A lot has changed in a short period. E...Read More
A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger technology. The venture - a collaboration between the World Economic Forum and seven global companies that make up its Mining and Metals Blockchain Initiative (MMBI) - aims t...Read More
Chilean copper producer Codelco renewed its labor agreement with the workers' unions representing employees at the Ventanas division located in the country's central Valpara?-so region, the state-owned miner said on Tuesday December 15.The new contracts will be effective for 36 months from February 1, 2021 for Union No.1 and from May 1 for the Turnados Union, Codelco said. Similar to the deal...Read More