Southern Europe's domestic prices for steel wire rod slid further, pressured by weak demand, although the downward trend is expected to stop due to increased production costs, Fastmarkets heard on Wednesday October 6.Fastmarkets' weekly price assessment for steel wire rod (mesh quality) domestic, delivered southern Europe was at ?,?750-780 ($867-902) per tonne on Wednesday, down by ?,?10-20 per to...Read More
Base metals prices on the London Metal Exchange were up across the board on the morning of Thursday October 7, which was in line with the stronger tone in Asia-Pacific equities and the pullback in oil prices.Brent crude oil price pulls back to $81 per barrel from Wednesday's high at $83.48 per barrel.Russia offers to increase natural gas supply to Europe.Base metalsAll of the LME base metals showe...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
The Turkish long steel export market has shown signs of a revival over the past week, after an upturn in prices, sources told Fastmarkets on Thursday October 7.Turkish steelmakers increased their rebar and wire rod export offer prices, in the wake of rising raw materials and power costs.Steel mills in the country raised their rebar offers to $690-695 per tonne fob on an actual-weight basis this we...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
Turkish steel producers have continued booking deep-sea scrap cargoes for November shipment on Thursday October 7, aided by improving demand for billet and finished long steel products, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a European cargo, comprising HMS 1&2 (75:25) at $440 per tonne, shredded at $455 and bonus at $460 per tonne cfr. And a steel produc...Read More
Brazil-based multi-metal producer Nexa Resources has resumed activity at its San Gerardo zinc-lead open-pit mine in central Peru after a week-long stoppage caused by community blockades, the company said on Wednesday October 6.In a filing to the Peruvian securities and exchange commission, SMV, Nexa said operations began to reopen early in the week and by Wednesday had returned to full capacity.Ro...Read More
The Brazilian automotive association, Anfavea, has cut its forecast for production and sales in 2021, due to a shortage of semiconductors and logistics issues.Vehicle production is now expected to reach between 2.13-2.22 million units this year, an increase of 6-10% from the 2.01 million units produced in 2020, the association said on Wednesday October 6.The new forecast is 10-13% lower than the a...Read More
Local reinforcing bar and imported billet prices in Egypt were stable in the week to Thursday October 7, while demand from the private sector was still weak, sources told Fastmarkets."Government funded projects continue, but private sector demand remains slow," one trader told Fastmarkets.Some market participants expect prices to decrease due to weak demand, except for government projects, while s...Read More
British Steel has announced a low-carbon steel making roadmap which outlines how it will achieve its net-zero emissions target, the company announced on Thursday September 7. The company has pledged to invest in a range of technologies to deliver net-zero steel by 2050 and significantly reduce its CO2 intensity by 2030 and 2035, in line with UK commitments to the Paris Agreement.Earlier this...Read More
Steel billet prices in Turkey increased in tthe week to Thursday October 7, in response to rising scrap and energy costs, market sources told Fastmarkets.Turkish steel producers continued with deep-sea scrap purchases for November shipment over the past week, with Fastmarkets' calculation of the daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey at $447.83 per tonne o...Read More
Rising freight costs and increased buying interest from neighboring Asian markets led to an increase in Bangladesh import steel scrap prices in recent days, sources said on Thursday October 7.Bangladesh container import prices jumpSouth Korea purchases deep-sea scrap amid high Japanese pricesTaiwan buyers quiet after early-week buyingBangladeshContainerized imports of scrap were sold to Bangladesh...Read More
Local reinforcing bar and imported billet prices in Egypt were stable in the week to Thursday October 7, while demand from the private sector was still weak, sources told Fastmarkets."Government funded projects continue, but private sector demand remains slow," one trader told Fastmarkets.Some market participants expect prices to decrease due to weak demand, except for government projects, while s...Read More
Rising freight costs and increased buying interest from neighboring Asian markets led to an increase in Bangladesh import steel scrap prices in recent days, sources said on Thursday October 7.Bangladesh container import prices jumpSouth Korea purchases deep-sea scrap amid high Japanese pricesTaiwan buyers quiet after early-week buyingBangladeshContainerized imports of scrap were sold to Bangladesh...Read More
Iron ore trading liquidity was still limited on Thursday October 7, mainly due to China's Golden Week holiday, but improving supplies from Brazil were helping to stabilize prices, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.02 per tonne, up $0.31 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.87 per tonne, up $0.24 per tonne58% Fe fines high-grade pr...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
Turkish steel producers have continued booking deep-sea scrap cargoes for November shipment on Thursday October 7, aided by improving demand for billet and finished long steel products, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a European cargo, comprising HMS 1&2 (75:25) at $440 per tonne, shredded at $455 and bonus at $460 per tonne cfr. And a steel produc...Read More
Slovak ferro-alloys producer OFZ Slovakia has cut more than half of its ferro-alloy production with immediate effect due to energy prices that have surged more than six-fold recently, an industry source told Fastmarkets.The company, which produces ferro-silicon and manganese alloys, has shut four out of its seven operating furnaces, including two ferro-silicon furnaces, a silico-manganese furnace...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
Alumina exports from Brazil totaled 586,458 tonnes in September, a 3.32% year-on-year fall from 606,626 tonnes, according to data published by the economy ministry on Wednesday October 5.That decrease was due to lower shipments from the S??o Lu?-s port, in the country's northeastern Maranh??o state. Alumar, an alumina refinery owned by Alcoa, South32, Rio Tinto and Alumina Ltd, is located in Maran...Read More