Prices for export cargoes of steel scrap sold from Japan continued to move upward this week, following another rise in the Kanto auction price, sources said on Wednesday November 11.November's Kanto Tetsugen, an auction between scrap suppliers in the Tokyo area, closed at an average price of ?30,605 ($291) per tonne fas for H2 on Wednesday, up ?2,199 per tonne compared with last month.The first...Read More
A radical shake-up of the European Union's waste shipment regulations could lead to a total ban or the implementation of controls on scrap metal exports from the territory, Fastmarkets understands.The European Commission is reviewing EU rules on waste shipments to encourage more recycling within the EU and is exploring ways to reduce the exports of such materials.EU lawmakers have been m...Read More
Iron ore prices increased further in both the futures and seaborne markets on Wednesday November 11, sources told Fastmarkets, on support from decreasing steel inventories but physical prices at ports remained stable.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.56 per tonne, up $2.29 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.00 per tonne, up $2.26 per tonne58% Fe fines h...Read More
Seaborne coking coal prices in the fob Australia and cfr China markets diverged on Wednesday November 11, with Chinese buyers starting to feel the pressure from restrictions on Australian imports, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.40 per tonne, down $3.69 per tonne Premium hard coking coal, cfr Jingtang: $148.95 per tonne, up $2.25 per tonneHard c...Read More
Japanese integrated steelmaker JFE Steel is speeding up some notable structural changes to its operations to increase profitability levels, it said.The steelmaker said it would bring forward the revamp of its No6 blast furnace (BF) in the Chiba district of its East Japan Works to September-December 2022. It previously planned to do so in 2023.The firm has brought forward the maintenance period to...Read More
China's domestic hot-rolled coil prices dipped on Wednesday November 11, but producers were reported to have secured export orders at higher prices than last week.DomesticEastern China (Shanghai): 4,060-4,080 yuan ($614-617) per tonne, down 10-20 yuan per tonneSellers in Shanghai cut their offers on Wednesday to generate more sales after trading activity weakened in response to falling futures, se...Read More
The waiting time for aluminium at Istim's warehouse in Port Klang, Malaysia rose to 71 days at the end of October, according to the London Metal Exchange's latest queue report.The queue is up from 61 days at the end of September at LME-approved Istim warehouses.There has been a queue for aluminium at Istim warehouses in Port Klang every month so far in 2020.Queues for aluminium continue to build i...Read More
China's domestic prices for rebar lost their upward momentum on Wednesday November 11 on falling demand among stockists, though that from end users remained good and steady.DomesticEastern China (Shanghai): 4,060-4,090 yuan ($614-618) per tonne, unchangedTrading activity has fallen in the futures market - the January rebar contract on the Shanghai Futures Exchange logged just 5.61 million tonnes w...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 11.Key driversThe ferro-titanium spot price in Europe increased, extending the current rally into its 12th week amid renewed demand from consumers looking to settle deals from a raft of new tenders. Suppliers reported deals for several hundred tonnes of standard-grade ferro-titanium for prompt shipment and a few hundred ton...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
The global aerospace industry was predicted to begin to recover in 2022 after air travel volumes slumped this year because of the outbreak of Covid-19, panelists said during Fastmarkets' International Ferro-Alloys Conference.A combination of government stimulus, a return of domestic air travel, a backlog of aircraft orders and the potential discovery of a widely accessible vaccine could all help b...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt...Read More
The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt hydroxide...Read More
A summary of the financial performance by Tubacex, the Spanish manufacturer of seamless stainless steel tube, in the third quarter of 2020.In brief The market environment in July-September was still characterized by huge uncertainty due to the Covid-19 pandemic. The global recession continued to affect major investment-related decision-making in the energy sector, which led to an overall demand dr...Read More
A summary of Swiss stainless steelmaker Swiss Steel Group's (formerly Schmolz + Bickenbach) financial results for the third quarter of 2020, July to September.In brief Year-on-year results were down for the third consecutive quarter, but sales volumes for the second half of the latest quarter were on a par with the equivalent period in 2019 First signs of improvement seen in the automotive...Read More
Despite a quicker-than-expected recovery across certain regions following the economic fallout of the Covid-19 pandemic and expectations of a stronger recovery overall in 2021, a return to pre-coronavirus levels next year is unlikely, delegates attending Fastmarkets' International Ferro-alloys Conference heard."In the space of steel and ferro-alloys, if we are able to manage the Covid-19 pandemic...Read More
The chrome ore and alloy markets in China fell in the week to Tuesday November 10 in response to lower November ferro-chrome tender prices from major Chinese stainless steelmakers, sources told Fastmarkets.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China edged down by $3 per tonne or 2.2% to $136 per tonne on Tuesday, from $139 per tonne the previous week.Ferro-chr...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 16 points in pre-opening trade.Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EST. Consensus for the October Consumer Price Index was an increase of 0.1% versus a gain of 0.2%. Actual was unchanged. Excluding food and energy, consensus for the October Consumer Price Index was...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 10 that are worth another look.Prices for steel billet imported to Southeast Asia have been heavily inflated amid bullish Chinese steel markets this week, market participants told Fastmarkets on November 10.The licenses for an additional 30,000...Read More