Fastmarkets is extending the consultation period for its proposal to amend the name and specifications of its UG2 chrome ore price index.This is in response to market feedback following its proposal to make the amendment. Fastmarkets proposes to change the specification for its chrome ore South Africa UG2 concentrates index basis 42%, cif China to include increasing the minimum tonnage and de...Read More
Buy-side sentiment in key Asian steel scrap markets has been hurt by news that Chinese trading firms were offering Southeast Asian buyers steel billet which was already imported into China, together with recent falls in the scrap price in Turkey, sources said on Thursday October 28.?EUR?Easing bulk freight costs reduce Bangladesh deep-sea bulk scrap prices?EUR?China import demand muted after steel...Read More
A healthy price arbitrage for Japanese hot-rolled coil producers to export into steel markets in the Americas has enabled these mills to keep raising their steel scrap buying prices in recent months, sources told Fastmarkets.Japanese HRC exports to the Americas totaled 1.36 million tonnes in January-August 2021 under HS codes 7208 and 722530, up by 37.6% year on year, according to statistics from...Read More
Prices for pig iron originating from the Black Sea basin continued to grow in late October, supported by limited availability of the material.Most producers continued to stay away from the market to better assess the situation. Some of their facilities were on maintenance.A supplier from Eastern Ukraine was said to have increased offers for its material to $550-560 per tonne fob, following last we...Read More
A healthy price arbitrage for Japanese hot-rolled coil producers to export into steel markets in the Americas has enabled these mills to keep raising their steel scrap buying prices in recent months, sources told Fastmarkets.Japanese HRC exports to the Americas totaled 1.36 million tonnes in January-August 2021 under HS codes 7208 and 722530, up by 37.6% year on year, according to statistics from...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More
The price assessment for imported billet into Egypt decreased in the week to Thursday October 27, but local rebar prices widened upward on higher offers, sources told Fastmarkets.Local rebar producers increased their prices, effectiveOctober 20.Current offer prices for rebar range from E ?14,900 to15,350 ($946-975) per tonne ex-works including 14% VAT.Demand failed to improve in the country, howev...Read More
A healthy price arbitrage for Japanese hot-rolled coil producers to export into steel markets in the Americas has enabled these mills to keep raising their steel scrap buying prices in recent months, sources told Fastmarkets.Japanese HRC exports to the Americas totaled 1.36 million tonnes in January-August 2021 under HS codes 7208 and 722530, up by 37.6% year on year, according to statistics from...Read More
Prices for imports of basic pig iron into China have inched upward over the past fortnight, after transactions for Brazilian cargoes completed on October 15, sources told Fastmarkets on Thursday October 28.Following those deals, however, buying activity started to slow down because sellers were offering cargoes at higher prices due to tight supply, market participants said.Around 120,000 tonnes of...Read More
The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More
Prices for steel billet exports from the Commonwealth of Independent States region continued to soften in the week to Thursday October 28 amid an unfavorable environment in the global market.Lack of demand was one of the main reasons for the downtrend. China has been one of the main global consumers of billet imports, from the CIS in particular, but it suddenly lost interest in imported material d...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
For anyone purely judging manganese ore supply in China by looking at port stocks, he or she could misread the market supply picture due to rising "invisible stocks" in the past one to two months, sources told Fastmarkets. Typically, ore stocks are either stored at ports or held by producers at their warehouses or local storage sites. While port stocks are visible and measurable, the latter can be...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 28 that are worth another look.The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019. Brazilian miner Vale will resume activities...Read More
Demand and prices for alumina in China were in limbo this week because market participants have become cautious after a steep decline in downstream aluminium prices, Fastmarkets heard on Thursday October 28.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-650) per tonne on Thursday, flat from a week earlier.Domestic demand for alumina in...Read More
The price assessment for imported billet into Egypt decreased in the week to Thursday October 27, but local rebar prices widened upward on higher offers, sources told Fastmarkets.Local rebar producers increased their prices, effectiveOctober 20.Current offer prices for rebar range from E ?14,900 to15,350 ($946-975) per tonne ex-works including 14% VAT.Demand failed to improve in the country, howev...Read More
Base metals prices on the London Metal Exchange were up across the board at the 5pm close of trading on Thursday October 28, continuing to rebound following a recent period of widespread selling."Given the [recent] price action, this Friday's week- and month-end closes should be important to determine whether we see some longer-term length liquidate," Alastair Munro, LME desk analyst at Marex, sai...Read More
A healthy price arbitrage for Japanese hot-rolled coil producers to export into steel markets in the Americas has enabled these mills to keep raising their steel scrap buying prices in recent months, sources told Fastmarkets.Japanese HRC exports to the Americas totaled 1.36 million tonnes in January-August 2021 under HS codes 7208 and 722530, up by 37.6% year on year, according to statistics from...Read More