Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.The monthly index takes account of the month's spot cobal...Read More
The European Commission (EC) plans to replace general annual quotas for hot-rolled coil with quarterly country-specific quotas and introduce some other strict measures to existing safeguard restrictions against imported steel, Fastmarkets understands.The EC sent a notice listing the changes to the World Trade Organization on May 29. The EC initiated a second review of the existing safeguard measur...Read More
Northern European hot-rolled coil producers still face poor demand for flat steel, sources told Fastmarkets on Monday June 1.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?402.50 ($446.83) per tonne on Monday June 1, up by ?,?1.79 per tonne from ?,?400.71 per tonne on May 29.Monday's index was calculated based on the latest deals, "workable" pri...Read More
Domestic prices for steel hot-rolled coil in Northern Europe decreased further during the week to Friday May 29, due to low demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($444.84) per tonne on Friday, down by ?,?6.79 per tonne week on week and by ?,?25.54 per tonne month on month.Friday's index was calculated based on deals and "workable" price...Read More
The United States Department of Commerce has announced an affirmative circumvention ruling against imports of steel concrete reinforcing bar (rebar) from Mexico.Commerce issued an affirmative preliminary circumvention ruling against Mexican rebar on March 4.Commerce said imports of straight rebar that is bent at one or both ends and produced and/or exported to the US by Deacero SAPI de CV circumve...Read More
Prices for domestic and imported merchant bar quality (MBQ) steel in the United States remained flat in May amid stirrings of activity and an improving outlook.Fastmarkets' monthly price assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was unchanged at $33.80 per hundredweight ($676 per short ton) on Friday May 29 after declining to that level on April 24; the...Read More
Prices for steel rebar in Russia's Central Federal District around Moscow declined over the past week due to slow demand, sources told Fastmarkets on Monday June 1. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT was at 31,500-32,000 roubles ($449-456) per tonne on Monday, down from 32,000-33,000 last Tuesday. Activity in...Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
Turkish domestic ship scrap prices rose over the past week, in line with stronger imported scrap values, market sources said on Monday June 1.The Turkish steel producers resumed their deep-sea scrap purchases at higher prices after the Eid al-Fitr break, which marks the end of Ramadan.Following the upturn in import values, three steel mills raised their...Read More
Turkish steel producers have continued their deep-sea scrap purchases on further easing of the restrictions imposed to combat the Covid-19 pandemic in the country, sources said on Monday June 1.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 10,000 tonnes of shredded, 15,000 tonnes of plate and structural scrap (P&S) and 25,000 tonnes of HMS 1&2 (90:10) at an average pric...Read More
Sentiment in the CIS export market for steel billet improved over the weekend of May 30-31 with higher bids heard from customers in China.The increased cost of iron ore, together with an upswing in the East Asian country's domestic rebar market and production cuts planned in Tangshan province, supported interest in imported billet.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, wa...Read More
Export slab prices from the the Commonwealth of Independent States (CIS) picked up again in the week ended Monday June 1 on a revival in demand from China, Fastmarkets has learnt.Increases in the cost of iron ore and an upswing in China's domestic hot-rolled coil market supported demand for import slab.A cargo of Ukrainian slab was reported sold to China at $385 per tonne cfr, equivalent to around...Read More
China's domestic rebar prices moved up on Monday June 1 following early gains in the futures market that emerged in response to positive data on downstream demand.Domestic Eastern China (Shanghai): 3,570-3,600 yuan ($500-504) per tonne, up by 40 yuan per tonneChina's steel purchasing managers' index for May was 50.9 points, which is 5 points higher than that for April, the China Federation of Logi...Read More
The European Commission (EC) plans to replace general annual quotas for hot-rolled coil with quarterly country-specific quotas and introduce some other strict measures to existing safeguard restrictions against imported steel, Fastmarkets understands.The EC sent a notice listing the changes to the World Trade Organization on May 29. The EC initiated a second review of the existing safeguard measur...Read More
Prices in the European high-carbon and low-carbon ferro-markets increased in in the week ended Friday May 29.In high-carbon trading, industry sources reported deals agreed for more than 1,000 tonnes of alloy that raised the upper end of the price assessment. And deals for about 350 tonnes of more refined-grade material were reported, which had the same effect on the price range in that market.In a...Read More
Brazilian flat and long steel producer Companhia Sider??rgica Nacional (CSN) has halted the No2 blast furnace at its Usina Presidente Vargas (UPV) unit, aiming to adapt its steel production to weak demand conditions, the company said late on Friday May 29.The affected equipment has capacity for 1.50 million tonnes of crude steel per year. CSN did not say how long the stoppage will last. In mid-May...Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
The premium for direct-reduced (DR) iron ore pellet for the second quarter of 2020 remained provisional, and suppliers were unlikely to revise it downward retrospectively in the way that had been expected, Fastmarkets has heard.Fastmarkets' assessment of the iron ore DR-grade pellet premium to 65% Fe fines index, Middle East reference, was $31 per tonne on Friday May 29, up by $1 per tonne month o...Read More
The European Commission (EC) plans to replace general annual quotas for hot-rolled coil with quarterly country-specific quotas and introduce some other strict measures to existing safeguard restrictions against imported steel, Fastmarkets understands.The EC sent a notice listing the changes to the World Trade Organization on May 29. The EC initiated a second review of the existing safeguard measur...Read More
Fastmarkets is proposing to extend the delivery window for its aluminium P1020A (MJP) spot premium, cif Japan. The current methodology reflects cargoes sold on a cif basis for delivery to the main Japanese ports of Yokohama, Nagoya and Osaka within four weeks from the date of the transaction. Fastmarkets invites comment from market participants to determine whether extending the delivery window to...Read More