Prices for plate and structural scrap and for No1 busheling increased week on week in the Mexican steelmaking regions of Monterrey and Baj?-o, while other scrap grades remained stable because of reduced material generation and expectations about the April scrap trade in the United States.Fastmarkets' assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey ...Read More
Marex Spectron has created the new role of head of steel and ferrous derivatives and has hired Sam Mehew to fill the post, the company announced on Tuesday April 7.Mehew will be responsible for driving liquidity in all ferrous markets and aluminium premium products.Marex Spectron is a category I member of the London Metal Exchange, and trades across the various base, precious and ferrous...Read More
Turkish deep-sea scrap import prices have gone up strongly, as expected, with news of fresh cargo deals, sources said on Tuesday April 7.A steel mill in the Iskenderun region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25) at $235 per tonne, 20,000 tonnes of shredded at $243 per tonne, 4,000 tonnes of a mixture of HMS 1 and plate and structural scrap (P&S) at $248 per tonne, a...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 7 that are worth another look.The second quarter of 2020 will be one of volume survival due to massive capacity cuts in scrap, billet and long steel products globally amid Easter and Ramadan holiday periods and during efforts to contain the coronavirus, the International Rebar Producers & Exporters Association (Irepas) said o...Read More
Some steel billet producers in the Commonwealth of Independent States (CIS) withdrew from the market early this week following a sharp rise in import scrap prices in Turkey.Turkish deep-sea scrap import prices have gone up strongly amid reduced availability of the material, caused by the measures being taken to try to control the Covid-19 pandemic.European Metal Recycling (EMR) shut down part of i...Read More
Marex Spectron has created the new role of head of steel and ferrous derivatives and has hired Sam Mehew to fill the post, the company announced on Tuesday April 7.Mehew will be responsible for driving liquidity in all ferrous markets and aluminium premium products.Marex Spectron is a category I member of the London Metal Exchange, and trades across the various base, precious and ferrous...Read More
The second tranche of the European Union's steel product import quotas has reached the point where some have become exhausted. Fastmarkets looks at the progress of quota take-up country by country, and reviews the likely dates for exhaustion that were calculated at the end of 2019.BackgroundOn February 2, 2019, the European Commission (EC) imposed definitive safeguard measures on a list of importe...Read More
Delivery and sales of electric vehicles (EVs) from leading EV manufacturer Tesla showed no sign of weakness despite the economic setbacks triggered by the global spread of Covid-19, according to preliminary data released by the company on Friday April 3.Tesla produced about 103,000 and delivered 88,400 EVs in the first three months of 2020. The figures show a year-on-year increase in production of...Read More
The second tranche of the European Union's steel product import quotas has reached the point where some have become exhausted. Fastmarkets looks at the progress of quota take-up country by country, and reviews the likely dates for exhaustion that were calculated at the end of 2019.BackgroundOn February 2, 2019, the European Commission (EC) imposed definitive safeguard measures on a list of importe...Read More
Marex Spectron has created the new role of head of steel and ferrous derivatives and has hired Sam Mehew to fill the post, the company announced on Tuesday April 7.Mehew will be responsible for driving liquidity in all ferrous markets and aluminium premium products.Marex Spectron is a category I member of the London Metal Exchange, and trades across the various base, precious and ferrous...Read More
Austrian steelmaking group Voestalpine has downgraded its outlook for business year 2019/20 - April 1, 2019 to March 31, 2020 - because of the negative effects it expects the coronavirus to have both operationally and in terms of non-recurring effects, the company said on Tuesday April 7.The outbreak of Covid-19 has already hit the heart of the European economy, with widespread closures of car-man...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 7 that are worth another look.The second quarter of 2020 will be one of volume survival due to massive capacity cuts in scrap, billet and long steel products globally amid Easter and Ramadan holiday periods and during efforts to contain the coronavirus, the International Rebar Producers & Exporters Association (Irepas) said o...Read More
Prices for plate and structural scrap and for No1 busheling increased week on week in the Mexican steelmaking regions of Monterrey and Baj?-o, while other scrap grades remained stable because of reduced material generation and expectations about the April scrap trade in the United States.Fastmarkets' assessment of the steel scrap No1 heavy melt, consumer buying price, delivered mill Monterrey ...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 7.Please click...Read More
Some steel billet producers in the Commonwealth of Independent States (CIS) withdrew from the market early this week following a sharp rise in import scrap prices in Turkey.Turkish deep-sea scrap import prices have gone up strongly amid reduced availability of the material, caused by the measures being taken to try to control the Covid-19 pandemic.European Metal Recycling (EMR) shut down part of i...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 7 that are worth another look.The second quarter of 2020 will be one of volume survival due to massive capacity cuts in scrap, billet and long steel products globally amid Easter and Ramadan holiday periods and during efforts to contain the coronavirus, the International Rebar Producers & Exporters Association (Irepas) said o...Read More
The Covid-19 pandemic may have just sealed the fate of already-struggling aluminium smelting capacity. At under $1,500 per tonne, aluminium cash prices on the London Metal Exchange are at levels last seen in 2015 and not far shy of the lows seen during the 2008-09 financial crisis. Estimates are that as much as half the world's smelters are now under water, meaning cuts and/or closures are inevita...Read More
A much vaunted infrastructure bill could be back on the agenda again while the United States moves to shore up its economy and stem job losses amid the Covid-19 pandemic.US President Donald Trump said in a post on social media platform Twitter earlier on Tuesday March 31 that the bill would be the fourth part of the government's stimulus measures to handle the impacts of the virus."With interest r...Read More
The Covid-19 pandemic has opened up financing opportunities for metals and mining-focused investment firms. It's also created a problem. The one-two punch demand and supply shock that the virus has created is putting the mining sector under extreme pressure. With banks even more reluctant than before to provide capital to the mining sector amid the tumultuous global financial backdrop, corporates...Read More
The second tranche of the European Union's steel product import quotas has reached the point where some have become exhausted. Fastmarkets looks at the progress of quota take-up country by country, and reviews the likely dates for exhaustion that were calculated at the end of 2019.BackgroundOn February 2, 2019, the European Commission (EC) imposed definitive safeguard measures on a list of importe...Read More