Europe could produce enough battery cells to meet the needs of its captive electric vehicle (EV) industry and could even be in a position to export batteries by 2025, according to the vice-president of the European Commission.Maros Sefcovic, told delegates at the European Conference on Batteries - held online on Tuesday November 24 - that the European Battery Alliance (EBA) aimed to create a globa...Read More
Europe could produce enough battery cells to meet the needs of its captive electric vehicle (EV) industry and could even be in a position to export batteries by 2025, according to the vice-president of the European Commission.Maros Sefcovic, told delegates at the European Conference on Batteries - held online on Tuesday November 24 - that the European Battery Alliance (EBA) aimed to create a globa...Read More
Italian re-rollers had to increase their official offer prices for heavy steel plate over the week to Wednesday November 25 due to a sharp rise in imported slab costs, sources have told Fastmarkets.Official offers for domestic heavy plate in Italy were heard at ?,?540-550 ($641-653) per tonne ex-works, about ?,?40-50 per tonne higher than the offers heard in the market."Italy now is [expecting to...Read More
Domestic prices for hot-rolled coil in Europe moved up again in the week to Wednesday November 25, due to a materials shortage, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?550.45 ($653.19) per tonne on Wednesday, up by ?,?5.40 per tonne day on day from ?,?545.05 per tonne on Tuesday.The index was up by ?,?12.53 pe...Read More
Spot market inventory levels for most major steel products in China fell at an even more rapid pace in mid-November than the first 10 days of the months, while that at member mills of the China Iron & Steel Association (Cisa) declined further, according to data released by the body on Wednesday November 25.November 11-20 outputCrude steel: 2.11 million tonnes per day, down 1.53%Finished steel: 2.0...Read More
Iskenderun Demir Celik (Isdemir), a subsidiary of Turkey's biggest steel producing group Erdemir Group, has started planned maintenance at its blast furnace no 2. The maintenance will last 44 days starting from Tuesday November 24 and is not expected to have a major effect on the company's output, Isdemir said. Isdemir produces steel billet, slab, wire rod and hot-rolled coil at its facility in Is...Read More
Prices for hollow steel sections in Europe moved up this week following a continued rise in feedstock costs and a lack of imports, sources told Fastmarkets on Wednesday November 25.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?660-680 ($783-807) per tonne on Wednesday, up from ?,?640-660 per tonne one week previous.The availability of hot rol...Read More
The price for steel H-beams in Europe moved up this week when producers' ambitions for price increases were supported by a recent rise in feedstock costs, sources told Fastmarkets on Wednesday November 25.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($653-688) per tonne on Wednesday, up from ?,?550-570 per tonne one week before.A more re...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 25 that are worth another look.Russian steelmaker Metalloinvest, which is the largest global supplier of hot-briquetted iron (HBI), may increase its shipments of the material by 10% by early 2023.Global copper scrap metal suppliers are now hesitant to...Read More
Turkish steel mills resumed their deep-sea scrap purchases despite higher prices, due to growing demand for finished steel and increased competition for scrap, sources told Fastmarkets on Wednesday November 25.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $341 pe...Read More
The recent surge in container freight costs and availability of cargo space continue to disrupt trade flows in minerals and metals, with trading companies finding themselves unable to dodge the soaring shipping rates.A combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has kickstarted a rapid increase in shipping costs for...Read More
The price rise in the CIS steel billet export market has temporarily stopped because sentiment in Asia has subsided, although mills have kept their offer prices high, sources told Fastmarkets on Wednesday November 25.Offers of steel billet from Russian and Ukrainian mills were heard within the range of $470-500 per tonne fob on Wednesday this week, little changed from Tuesday.Most mills were offer...Read More
Iran's export prices for steel billet and slab continued to rise over the week to Wednesday November 25, and new deals were expected to be made soon, Fastmarkets has learnt.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $440-445 per tonne on November 25, rising from $430-438 per tonne on November 18.Last week, billet was sold at $425-438 per tonne fob Iran.No de...Read More
Spot market inventory levels for most major steel products in China fell at an even more rapid pace in mid-November than the first 10 days of the months, while that at member mills of the China Iron & Steel Association (Cisa) declined further, according to data released by the body on Wednesday November 25.November 11-20 outputCrude steel: 2.11 million tonnes per day, down 1.53%Finished steel: 2.0...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 25. Key drivers Steady demand for prompt material from steel mills for the first quarter of next year pushed the ferro-titanium spot price to $5 per kg on the high end for the first time since May 20 in a 14-week bull run.There are bigger steelmaker tenders for first-quarter shipments both in Europe and Asia, which supplie...Read More
The recent surge in container freight costs and availability of cargo space continue to disrupt trade flows in minerals and metals, with trading companies finding themselves unable to dodge the soaring shipping rates.A combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has kickstarted a rapid increase in shipping costs for...Read More
Spot market inventory levels for most major steel products in China fell at an even more rapid pace in mid-November than the first 10 days of the months, while that at member mills of the China Iron & Steel Association (Cisa) declined further, according to data released by the body on Wednesday November 25.November 11-20 outputCrude steel: 2.11 million tonnes per day, down 1.53%Finished steel: 2.0...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 25 that are worth another look.Russian steelmaker Metalloinvest, which is the largest global supplier of hot-briquetted iron (HBI), may increase its shipments of the material by 10% by early 2023.Global copper scrap metal suppliers are now hesitant to...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 18.Click on...Read More
The London Metal Exchange three-month copper price continued its quest for record numbers on Wednesday November 24,while zinc suffered a dip in fortunes.Copper came closer to its June 2018 high of $7,304 when it reached $7,300 at the 5pm close, a rise of 0.09% from Tuesday's closing price of $7,293. During morning trading on Wednesday, however, copper's three-month price had already surpassed...Read More