China's imports of billet and slab increased in September from a month earlier but volumes were down year on year, according to the latest customs data.Billet imports totaled 1.13 million tonnes in September, up by 33% from 847,126 tonnes in August but down by 18% from September 2020.Fastmarkets' price assessment for steel billet, import, cfr China averaged $700 per tonne in July and $686 per tonn...Read More
Seaborne iron ore prices rose on Tuesday October 26 amid some short-term positivity in demand for iron ore, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $122.30 per tonne, up $3.22 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.11 per tonne, up $3.63 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.41 per tonne, up $3.44 per tonne65% Fe Brazil-ori...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 standard...Read More
Sentiment in China's import market for steel billet warmed on Tuesday October 26 following a more solid performance by ferrous futures markets and reports of better power supply in the east of the country.Physical rebar and billet prices remained flat in key Chinese local markets on Tuesday, while the most-traded January rebar futures contract on the Shanghai Futures Exchange (SHFE) closed at 4,91...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia decreased or were unchanged during the week ended Tuesday October 26, with only one deal heard, sources told Fastmarkets.Offer prices decreased from India during the week, and Saudi Arabia also offered hot-rolled coil at reduced prices to the UAE."Everyone is in wait-and-see mode," one trader said. "With the Chinese futures ma...Read More
China imported 20,519 tonnes of ferrous scrap in September, a 49.39% drop compared with August's 40,540 tonnes, according to the latest Chinese customs data.Of the total, 11,750 tonnes, or 57.27%, originated in Japan.South Korea remained China's second-largest scrap supplier in September, accounting for 2,170 tonnes (10.58%) of imports.Canada with 1,621 tonnes, or 7.90% of the total, and Taiwan wi...Read More
Guidance for China to achieve its carbon emissions peak by 2030 and carbon neutrality by 2060 was jointly released by the Central Committee of the Communist Party of China and the State Council on Sunday October 24.The guidance specifies that by the year 2025, China's energy consumption per unit of gross domestic product will be reduced by 13.5% from 2020 levels, carbon dioxide (CO2) emissions per...Read More
Turkish steel mills continued to pay higher prices for deep-sea scrap, with news of a deal for US scrap from Friday pushing up prices on Monday October 25, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (80:20) at $510 per tonne and shredded at $530 per tonne cfr late on Friday October 22. The cargo composition,...Read More
Base metals on the London Metal Exchange closed the session higher on Monday October 25, but market participants expect further weakness in coming sessions.The three-month copper price led the base metals uptrend, closing at $9,867.50 per tonne, up 1.68% from the close of $9,704 per tonne on Friday October 22. Market participants continued to focus on dwindling copper stocks in LME sheds, wit...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More
The MARBL Lithium joint venture will restart operations at its Wodgina lithium mine in the Pilbara region of Western Australia in the third quarter of 2022, JV partner Mineral Resources said on Monday October 25.MARBL is 40% owned by Australia's Mineral Resources and 60% owned by United States-listed lithium producer Albemarle.The Wodgina mine was previously put under care and maintenance in Novem...Read More
Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More
Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,550-5,600 yuan ($870-877) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Monday, finishing the day at 5,180 yuan per tonne, which...Read More
Export prices for reinforcing bar and wire rod originating from the Commonwealth of Independent States surged in the week to Monday October 25, supported by positive market conditions.Firstly, prices from competitive Turkish suppliers increased over the week, supported by growing import scrap and electricity costs in the country.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar...Read More
Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More
Sibanye-Stillwater is in talks to buy the Santa Rita nickel and Serrote copper mines in Brazil from affiliates of funds advised by Appian Capital Advisory LLP, the company said.The South African miner is predominantly a precious metals company, although it produces nickel and copper as by-products and has copper exploration projects in Canada and Argentina."Sibanye-Stillwater hereby advises its sh...Read More