Reduced operations at steel rerolling mills in several key cities across China have hurt prices for steel billet in China's local and import markets, sources said on Thursday October 21.The northern Chinese steelmaking hub Tangshan ordered rerolling mills in its Fengrun district to suspend production from October 21 to 31 to improve air quality, market participants told Fastmarkets.The production...Read More
The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More
Prices in the Commonwealth of Independent States' export market for steel billet moved up on Thursday October 21 amid rising scrap and domestic billet prices in Turkey, which added to the positive expectations among sellers.Fastmarkets' calculation of its daily index for steel scrap HMS 1&2 (80:20 mix), north Europe origin, cfr Turkey, was $497.04 per tonne on Thursday, unchanged day on day but up...Read More
The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More
Turkish domestic rebar and wire-rod prices have continued to rise over the past week due to higher scrap costs and a weaker lira, market sources said on Thursday October 21.Turkish steel mills have continued their deep-sea scrap purchases with prices exceeding $500 per tonne for HMS 1&2 (80:20).Fastmarkets' calculation of its daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cf...Read More
Steelmakers in China will likely keep their production rates low in the fourth quarter of 2021 amid pollution controls and tight electricity supply even though they still seem to have a lot of "quota" left for the year, market participants say.In the first nine months of this year, China produced 805.89 million tonnes of crude steel, according to the country's National Bureau of Statistics (NBS)....Read More
Turkish steel mills have continued their deep-sea scrap bookings with two Venezuelan cargoes, market participants told Fastmarkets on Thursday October 21.A steel mill in the Iskenderun region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $505 per tonne cfr late on Wednesday October 20. The cargo was scheduled to...Read More
Steelmakers in China will likely keep their production rates low in the fourth quarter of 2021 amid pollution controls and tight electricity supply even though they still seem to have a lot of "quota" left for the year, market participants say.In the first nine months of this year, China produced 805.89 million tonnes of crude steel, according to the country's National Bureau of Statistics (NBS)....Read More
Base metals prices on the London Metal Exchange were mainly stronger during morning trading on Friday October 22, but those on the Shanghai Futures Exchange were largely down – this follows significant losses on the LME on Thursday.* Chinese property giant Evergrande Group makes a dollar bond interest payment.* US treasury yields up sharply following better-than-expected US initial jobless cl...Read More
The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More
BMW Group is to source steel from Sweden's H2 Green Steel for its European plants from 2025, the German car manufacturer said this week.Announcing the move on Wednesday October 20, BMW said that the company was "systematically pursuing [a] goal of significantly reducing CO2 emissions at their source in the supply chain."BMW said that, from 2025, it will source steel produced with up to 95% fewer C...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies in...Read More
Lead's three-month price set a new year-to-date peak of $2,427 per tonne on the afternoon of Wednesday October 20, together with nickel, which rose by almost 6% to more than $21,000 per tonne, with sentiment on the London Metal Exchange still bullish.Lead's three-month price closed at $2,417 per tonne on Wednesday, a 1.7% increase from its Tuesday closing price of $2,376 per tonne. "We envisage a...Read More
Taiwan's import prices for containers of steel scrap were expected to continue to rise because of a huge premium for bulk import prices over material arriving in containers, market sources told Fastmarkets on Wednesday October 20.?EUR?Taiwanese buyers continue to book containerized cargoes?EUR?Chinese market muted by wide bid-offer gaps?EUR?China's ferrous scrap import volumes down by 49% month on...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 20 that are worth another look.Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on October 20.Trafigura has been drawing...Read More
Turkish steelmakers continued to pay higher prices for deep-sea ferrous scrap cargoes scheduled for shipment in December, market sources told Fastmarkets on Wednesday October 20.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 32,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $502 per tonne and 3,000 tonnes of bonus-grade scrap at $522 per tonne cfr.Pre...Read More
A summary of Brazilian miner Vale's base metals production results for the third quarter of 2021, as stated in its production report published on Tuesday October 19. Vale's nickel production declined in the third quarter from the prior quarter due to a labor disruption at its Sudbury mine in Canada, which halted operations for 70 days, of which 40 days were in third quarter, with an impact of 11,0...Read More
Japanese local and export buyers have been locked in a fight for steel scrap in the week to Wednesday October 20, pushing up prices across the board, sources told Fastmarkets.Major electric arc furnace (EAF) mill Tokyo Steel on Wednesday announced it would raise its scrap buy prices by ?500-1,000 ($4.38-8.75) per tonne at some of its works starting Thursday October 21. This marks the second price...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Suppliers in China's domestic spot ferro-chrome market lowered their offer prices during the week to Tuesday October 19, while trading remained light due to very limited supply, Fastmarkets heard.Fastmarkets' assessment of ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China fell by 4.8% to 10,700-11,300 yuan ($1,673-1,767) per tonne on Tuesday, from 11,100-12,000 yuan per tonne one week earlier.Th...Read More