Here are five Fastmarkets stories you might have missed on Wednesday October 27 that are worth another look.Long and flat-rolled steel producer Gerdau expects demand to continue to grow in 2022, after a rapid recovery of the local market this year from the lows of 2020 that were caused by the Covid-19 pandemic, the...Read More
Labor shortages across the global scrap industry pose the biggest threat to growth, according to a panel discussion at the Bureau of International Recycling (BIR) conference in Brussels on Tuesday October 26."We are having tremendous difficulties in hiring employees as we grow," George Adams, president of SA Recycling said as part of the discussion."There is going to be a massive shortage of scrap...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 27 that are worth another look.Long and flat-rolled steel producer Gerdau expects demand to continue to grow in 2022, after a rapid recovery of the local market this year from the lows of 2020 that were caused by the Covid-19 pandemic, the...Read More
More than 10% of the global container fleet is waiting for berths to become available around the world, with effective capacity being "severely limited by port congestion," shipping giant Maersk said this week.While all vessels have been deployed, 12.5% of capacity has been removed while effects of vessel delays continue to worsen, it said, quoting Sea-Intelligence Maritime Analysis.Trade growth m...Read More
Base metals prices on the London Metal Exchange were down across the board at the 5pm close of trading on Wednesday October 27, following a further drop in coal prices and widespread selling."Today's news that [China's] National Development & Reform Commission has set the price of thermal and coking coal at levels [that will reduce] key input prices for energy-intensive metals - pertinent to alumi...Read More
The low-carbon ferro-chrome market in Europe leapt over the two weeks to Tuesday October 26 to a multi-year high due to extremely tight availability, with some sellers not offering on the spot market and consumers scrambling to find material.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe was $3.43-3.75 per lb Cr on October 26, up by 38-50 cents (13.97%)...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has been affected by a fire at its hot-rolling mill which caused several injuries to employees and minor damage to equipment, the company has said.Around 11 workers were injured by the accident, which was caused by an oil leakage, the company said on Wednesday October 26. The fire was immediately brought under control, Ahmsa added.Read More
Domestic steel reinforcing bar prices in the United States were sideways on Wednesday October 27, but import tags went up for the first time in nearly two months.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on October 27, unchanged since August 11 at its highest level since late 2008. This marks the 11th week of that the a...Read More
Steel scrap buyers in South Korea have continued to chase bulk bookings from Japan in recent days at increasingly high prices, market sources told Fastmarkets on Wednesday October 27.?EUR?South Korea books more scrap?EUR?Tokyo Steel Utsunomiya raises buy price again?EUR?China prices continue downtrend amid bearish sentiment in finished steel markets?EUR?Taiwan prices retreat on weakening sentiment...Read More
Labor shortages across the global scrap industry pose the biggest threat to growth, according to a panel discussion at the Bureau of International Recycling (BIR) conference in Brussels on Tuesday October 26."We are having tremendous difficulties in hiring employees as we grow," George Adams, president of SA Recycling said as part of the discussion."There is going to be a massive shortage of scrap...Read More
Turkish steel mills were quiet in the deep-sea scrap markets ahead of an upcoming Republic Day holiday on Thursday and Friday, sources told Fastmarkets on Wednesday October 27.The most recent cargo was recorded on Tuesday, when a steel mill in the Marmara region booked a cargo from the United States, consisting of 20,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of shredded at an average price o...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 27 that are worth another look.Long and flat-rolled steel producer Gerdau expects demand to continue to grow in 2022, after a rapid recovery of the local market this year from the lows of 2020 that were caused by the Covid-19 pandemic, the...Read More
Consolidating its position in the battery materials supply chain amid fierce competition is the biggest challenge facing Greatpower Nickel & Cobalt Materials Co, company president Dongqiang Cao told Fastmarkets in an interview.Previously, attracting investment and improving the ability to provide finance had proved to be a bottleneck in the early stages of Greatpower's development, when it expande...Read More
Active buying interest, limited offers from mills and export sales activity - because of the imminent expiry of a temporary export duty - pushed flat steel prices in the Russia's Central Federal District around Moscow up again in the week to Monday October 25, sources have told Fastmarkets.But the upward price trend may not be sustainable because of the usual low season during winter, some market...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
Aluminium producer Rusal's sales dipped by nearly 12% quarter-on-quarter to 915,000 tonnes in July-September 2021, according to its latest statement of operating results."Aluminium sales dynamics can largely be explained by an increase of goods in transit that are recognized as inventory, which was caused - among other factors - by transport capacity restrictions in supply chains globally," the co...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 27 that are worth another look.Long and flat-rolled steel producer Gerdau expects demand to continue to grow in 2022, after a rapid recovery of the local market this year from the lows of 2020 that were caused by the Covid-19 pandemic, the...Read More
From Wednesday December 1, Fastmarkets will publish its seaborne Asia battery-grade lithium carbonate and hydroxide assessments on a daily basis. Fastmarkets had proposed in July to increase the pricing frequency for the two battery-grade lithium prices - assessed on a cif China, Japan and South Korea basis - to daily from weekly. This proposal had originally stated that the consultation period fo...Read More
The UG2 chrome-ore market has seen fresh liquidity with previous offers from miners encouraging buying interest. And ample supply plus sluggish demand has continued to weigh on the market.Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China dipped by $1 per tonne on October 26 to $154 per tonne."40 to 42 percent concentrate material is under huge pressure and...Read More