Prices for shredded steel scrap imported into Pakistan and India moved down after both markets weakened in the seven days to Friday November 19, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $560.18 per tonne on Friday, compared with $564.21 per tonne a week earlier.Deals were heard at $563-565 per tonne this we...Read More
Bulk freight rates for key steel products have receded over recent weeks amid shrinking port congestion in China and improved vessel availability, sources have told Fastmarkets.A slowdown in Chinese commodity imports, coming at a time of crashing steel prices in the country, has allowed congestion at the country's ports to unwind in recent weeks, markets participants said.Freight rates first dropp...Read More
An overview of the new energy materials markets and their price moves in the week to Friday November 19.Susan Zou, Yingchi Yang and...Read More
China's Ministry of Industry & Information Technology (MIIT) is conducting a public consultation on its proposed standards of the lithium-ion battery industry. The proposed standards - released on Thursday November 18 - detail the requirements for battery energy density and specific capacity.In the proposal, the energy density for consumer electronics batteries need to stay above 260 watt hour (Wh...Read More
Lithium prices in China were stable in the week to Thursday November 18 due to limited spot trading activity, while seaborne East Asian prices were flat amid similar conditions.Chinese lithium prices stable amid limited spot trading ahead of month-end restocking.Seaborne East Asian prices similarly unchanged in quiet conditions.Lithium prices in Europe and the United States continue to strengthen...Read More
Weaker demand combined with lower offers from all origins, spearheaded by recent Chinese price falls, put further downward pressure on South American flat-rolled steel import prices in the week ended Friday November 19.Despite offers from China continuing to drop - in what was widely considered by market participants to be short-selling from traders - buyers remained hesitant about booking new car...Read More
Domestic hot-rolled coil prices in Northern Europe and Italy were stable on Friday November 19 due to slow trading activity, sources have told Fastmarkets.Northern European steelmakers continued to give discounts for fourth-quarter-rolling HRC. Coil for prompt shipment became available in the spot market at lower prices because it was originally intended for shipment to automotive sector buyers.De...Read More
The risks that the Chinese government will introduce export duties on steel products will increase if export volumes surge when prices stabilize again after the recent decline, market sources told Fastmarkets over the week to Friday November 19."A sharp rebound in export volumes will draw attention from the central authorities," a Shanghai-based trader said.Fears have emerged that the Chinese gove...Read More
Brazilian apparent steel consumption fell by 5.95% in October, from the same month in 2020, largely influenced by lower domestic shipments of flat steel from mills, according to data published by the steelmakers' association, Instituto A??o Brasil, on Friday November 19.Apparent consumption totaled 1.96 million tonnes during the month, down from 2.09 million tonnes a year before, A??o Brasil said....Read More
Crude steel output in Germany increased by 7% year on year in October, the German steel federation, WV Stahl, said on Friday November 19.German crude steel production totaled 3.66 million tonnes in October, up from 3.42 million tonnes in October last year.Steel output from Germany's basic oxygen furnaces - mainly used in the production of flat steel - rose by 13.2% year on year to...Read More
Slow demand and cheaper imports have quashed attempts by steel rebar producers in Poland to boost prices, sources told Fastmarkets on Friday November 19.Trading activity in the Polish rebar market has been slow this week, those sources said - because local distributors and stockholders have enough material in stock, they have not been looking to make bookings.As well, end-user demand from the cons...Read More
Importers of ferrous scrap were lured back to market in the week ended Friday November 19 by lower prices, which were precipitated by a period of lackluster buying activity.?EUR?Turkish mills' import prices rebounded by the week's end after deals at lower prices?EUR?US sales halted with exporters reluctant to reduce their selling prices?EUR?Vietnamese buyers were actively seeking more material aft...Read More
Prices for shredded steel scrap imported into Pakistan and India moved down after both markets weakened in the seven days to Friday November 19, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $560.18 per tonne on Friday, compared with $564.21 per tonne a week earlier.Deals were heard at $563-565 per tonne this we...Read More
Turkish steel scrap import prices recovered with a fresh European cargo deal heard at the end of the week, market participants told Fastmarkets on Friday November 19.A steel mill in the Marmara region booked a European cargo comprising HMS 1&2 (75:25) at $486 per tonne and bonus at $506 per tonne cfr. The cargo composition was not clear at the time of publication. The previous deep-sea deal was he...Read More
The price of secondary steel billet in the Indian domestic market fell by 1,500 rupees ($20) per tonne over the week ended Friday November 19, with demand for semi-finished materials slowing down in line with a sharp fall in demand and prices for finished steel products.Fastmarkets assessed the price for steel billet, domestic, exw India, at 41,700-41,900 rupees ($562-565) per tonne on November 19...Read More
Bulk freight rates for key steel products have receded over recent weeks amid shrinking port congestion in China and improved vessel availability, sources have told Fastmarkets.A slowdown in Chinese commodity imports, coming at a time of crashing steel prices in the country, has allowed congestion at the country's ports to unwind in recent weeks, markets participants said.Freight rates first dropp...Read More
Further deals for resale cargoes of 3sp blast furnace (BF) steel billet into the Southeast Asian markets have damped sentiment in the region for new production billet, sources told Fastmarkets on Friday November 19.Several hundred thousand tonnes of diverted cargo, some of which was already on the water and required very prompt shipment, have been offered into Southeast Asian countries in recent w...Read More
The price of stainless steel in the European domestic market remained unchanged this week, but ongoing tightness could see prices move up before the end of the year, sources told Fastmarkets on Friday November 19.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 base price domestic, delivered Northern Europe was unchanged week on week at ?,?1,850-1,900 ($2,09...Read More
Eastern China's rebar prices increased slightly on Friday November 19 following futures' gains due to heightened market expectations that banks will loosen loans to housing companies.Domestic Eastern China (Shanghai): 4,670-4,710 yuan ($732-738) per tonne, up by 10-20 yuan per tonneNorthern China (Beijing) weekly assessment: 4,440-4,480 yuan per tonne, down by 80-120 yuan per tonneMarket participa...Read More
European automotive producers are driving the demand for steel grades involving reduced generation of carbon dioxide, in their attempts to reduce supply-chain emissions, and are teaming-up with steelmakers to explore the emerging green steel prototypes.Pressure to meet climate targetsAn estimated 20% of the automotive industry's emissions come from the manufacturing stage, according to CDP - forme...Read More