The infrastructure to recycle electric vehicle (EV) batteries is currently not optimized either to handle end-of-life battery capacity or to meet critical materials demands placed on the market with the ramping-up of electrification, according to US-based consultancy Lux Research.In a report issued on Thursday November 18, the consultancy said that, despite a flurry of activity in the past few yea...Read More
The export price for CIS-origin steel billet softened toward the end of the current week amid increased competition in the nearby markets in Turkey and Egypt, Fastmarkets heard on Thursday November 18.Weakness in finished steel prices added to the negative sentiment.The removal of a 10% safeguard duty on billet imports into Egypt early this week [LINK] at first added some optimism to the market, b...Read More
Hot-rolled coil prices in the United States continued their recent downturn on Thursday November 18, hovering just above $90 per hundredweight ($1,800 per short ton), while market sentiment was mixed.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.06 per cwt ($1,801.20 per ton) on November 18, down by 0.67% from $90.67 per cwt on Wednesday November 17 and by 2.64%...Read More
The removal of a safeguard duty on imports of steel billet into Egypt earlier this week has resulted in a revival of trading activity in the local market, with various sellers rushing to grasp the opportunity because of unfavorable situations in other areas.The Egyptian Ministry of Industry & Trade suspended the country's 10% safeguard duty on imported billet with effect from Monday November 15.Fo...Read More
Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.It is to collaborate on the research and development of fossil-free steel with automotive safety supplier Autoliv for use in products such as airbags and seatbelts, it said on November 15."We are looking forward to working...Read More
Chinese nickel sulfate producers face difficult annual contract negotiations for 2022, with upstream miners taking an aggressive stance while downstream battery precursor material producers are hinting at lower demand amid plans to implement integrated operations.The Chinese nickel sulfate price has undergone considerable volatility in 2021, climbing in August to its highest since Fastmarkets bega...Read More
The Malaysian Smelting Corporation is "looking into the possibility" of ending a six-month force majeure period at the end of November, a company document seen by Fastmarkets said. The tin producer declared force majeure on June 7 due to rising Covid-19 cases in the country and the aftermath of furnace rebricking efforts at its main Butterworth smelter. "In tandem with the opening o...Read More
Production of key battery raw materials cobalt and nickel will remain tight and will pose challenges to the electrification of transport, panelists said on Monday November 15 during Fastmarkets' International Ferro-alloys Conference in Prague."This year was really the first year that we saw a step change in nickel demand caused by demand from the electric vehicles (EV) sector and we saw nickel con...Read More
Domestic steel reinforcing bar prices in the United States increased slightly to a 13-year high, with many market participants expecting it to go up again before long.Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US was $50.50 per hundredweight ($1,010 per short ton) on Wednesday November 18, up by 0.50% from the week before and at its highest point since the assessment...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
Seaborne coking coal prices in the cfr China market dropped further on Thursday November 18 after domestic cargoes plunged due to weak demand, while the fob Australia coking coal market continued to be quiet without firm buying interest, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $523.84 per tonne, down $26.35 per tonneHard coking coal, cfr Jingtang: $348.75 per...Read More
The removal of a safeguard duty on imports of steel billet into Egypt earlier this week has resulted in a revival of trading activity in the local market, with various sellers rushing to grasp the opportunity because of unfavorable situations in other areas.The Egyptian Ministry of Industry & Trade suspended the country's 10% safeguard duty on imported billet with effect from Monday November 15.Fo...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
Bangladeshi import steel scrap prices have fallen over the past week despite a continued rise in offer prices for rebar and domestic shipbreaking scrap in the country, sources told Fastmarkets on Thursday November 18.?EUR?Bangladeshi import prices ease downward?EUR?Taiwanese buyers secure containerized scrap at $445-452 per tonne cfr?EUR?Lack of demand for scrap in China due to hot metal being mor...Read More
Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap,...Read More
Turkish steel producers have resumed their deep-sea scrap import bookings with a single cargo deal, sources told Fastmarkets on Thursday November 18.A steel mill in the Marmara region booked a United Kingdom cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $488 per tonne and 5,000 tonnes of shredded at $507 per tonne cfr.The previous...Read More
Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap,...Read More
Italian domestic steel scrap prices increased in the month to Tuesday November 16, supported by a combination of reduced supply and strong demand, sources have told Fastmarkets.Month-on-month comparison prices have recovered by about ?,?10 ($11) per tonne. But market sources said that, taking into account that scrap prices dropped in the second half of October, the recovery since the start of Nove...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More