The rise in October's Kanto Tetsugen auction boosted sentiment in the Japanese scrap market and supported export offers from Japan, sources told Fastmarkets on Wednesday October 13. Japan local market pushes export offers higher Vietnam buyers increase bids Chinese buyers in wait-and-see mode due to losses in futuresJapan Offer prices for bulk cargoes of steel scrap from Japan rose again on Wedn...Read More
Domestic prices for hot-rolled coil fell in Northern Europe and Italy on Wednesday October 13 with both buyers and sellers preferring to adopt a wait-and-see strategy, sources told Fastmarkets.Trading activity was expected to recover in November, however, according to market participants. Although the majority of European distributors have sufficient stocks to last until the year-end, they will ne...Read More
Domestic prices for hot-dipped galvanized coil decreased across Europe in the week ended Wednesday October 13 due to weaker demand from distributors and the automotive sector, sources told Fastmarkets.Sources expect distributors to return to the market in November. While the majority of European distributors have sufficient stocks to last until the year-end, they will need to restock for the first...Read More
The price of steel hollow sections in Europe remained flat in the week to Wednesday October 12, despite pressure from falling feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,275-1,330 ($1,472-1,535) per tonne on October 13, unchanged week on week.Domestic hollow section prices were under pressure...Read More
Turkish steel producers continued to pay higher prices for deep-sea scrap cargoes on Wednesday October 13, market participants told Fastmarkets.Late on Tuesday October 12, a steel mill in the Marmara region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (80:20) at $470 per tonne and 18,000 tonnes of shredded at $490 per tonne cfr.On Wednesday, a steel mill in the Izmir region paid $...Read More
Seaborne iron ore prices continued to fall on Wednesday October 13, after a formal announcement on upcoming winter restrictions by China's Ministry of Industry & Information Technology (MIIT).Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.17 per tonne, down $4.83 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.09 per tonne, down $5.08 per tonne58% Fe fines high-grade premium, cfr...Read More
Steel wire rod prices in Northern Europe were broadly flat in the week to Wednesday October 13, with trading activity limited, but demand is expected to recover soon, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe was ?,?800-820 ($924-948) per tonne on Wednesday, same as seven days earlier.Daily demand for wire r...Read More
Base metals prices on the London Metal Exchange were mixed at the 5pm close on Wednesday October 13, with zinc performing particularly well during the day's trading.The LME three-month price of zinc led the complex on Wednesday; it was up by 4.4% to $3,401.50 per tonne from $3,263 per tonne at Tuesday's close, after hitting an intraday high of $3,440 per tonne."LME fund managers turned bullish tow...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
China's imports of finished steel products increased by 18.2% month on month in September, preliminary Chinese customs data showed on Wednesday October 13.September exports: 4.92 million tonnes, down by 2.6% from August 2021,...Read More
Pipe producer Vallourec and Brazilian tube, bar and stainless steel distributor Grupo A??otubo announced a joint venture to supply steel tubes and pipes to industrial clients.The new company, called Vallourec Tubos para Ind??stria (VTI) will comprise Vallourec's Brazilian unit of cold-drawn and shaped tubes and A??otubo's division of cold-drawn tubes and parts, and it will focus in supplying the a...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 13.Key drivers The European ferro-titanium price range widened higher in the week to Wednesday October 13 after new deals were reported, although overall trading activity was slow amid muted consumer buying interest. There was industry talk of some lower-priced deals, although sources said these were outliers to typical trad...Read More
Higher or more volatile prices for critical minerals such as lithium, cobalt, nickel, copper and rare earth elements could slow global progress toward a clean-energy future or make it more costly, according to the International Energy Agency (IEA).In its World Energy Outlook report released on Wednesday October 13, the IEA said that price rallies for key minerals in 2021 could increase the costs o...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
Power cuts remained a prominent factor in China through the third quarter of 2021 as the world's second-largest economy grappled with soaring coal prices and its own strict limits on energy consumption - put in place to help the country achieve carbon neutrality by 2060.An increasing number of factories - especially those in energy intensive industries - have suffered from curbs to their power usa...Read More
Power cuts remained a prominent factor in China through the third quarter of 2021 as the world's second-largest economy grappled with soaring coal prices and its own strict limits on energy consumption - put in place to help the country achieve carbon neutrality by 2060.An increasing number of factories - especially those in energy intensive industries - have suffered from curbs to their power usa...Read More
Tsingshan Group has set its tender price for October-delivery high-carbon ferro-chrome at 9,995 yuan ($1,550) per tonne, the Chinese stainless steelmaker said on Monday October 11.The tender price was unchanged from what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for September-delivery material, suggesting that it chose not to acknowledge a recent price surge...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday October 12 and their latest price moves.United States The high-carbon ferro-chrome market jumped significantly, catching up with large gains in overseas markets. A re-opening of the spot market allowed suppliers to successfully elevate offers in line with the global market. Given the current tigh...Read More
Ecobat's Stolberg lead smelter will remain shut until spring 2022; regional tightness is pushing more consumers to look for spot units.The German lead plant, which declared force majeure due to floods in July, is still undergoing repair work, a company statement seen by Fastmarkets on Tuesday October 12 said. The smelter is in the process of procuring parts and equipment for the rebuild, the...Read More
Base metals prices on the London Metal Exchange were mixed at the 5pm close on Tuesday October 12 amid concerns over inflation, and rising energy costs and power outages in China.The three-month price of aluminium continued its upward momentum during Tuesday's trading, closing at $3,068 per tonne, up from $3,064 per tonne on Monday.The lightweight metal hit an intraday high of $3,114.50 per tonne...Read More