Turkish steel mills remained silent in the scrap markets on Wednesday June 16, with market participants mulling the likely direction of price movements.The mills did not book any new cargoes on Wednesday, having agreed two deals the day before at lower prices, marking a potential change in direction for the market, which had become more positive so far in June.One market participant said, however,...Read More
There will be multiple routes taken to achieving net-zero emissions targets in the steel sector, not just one fix, the chief executive officer and managing director of India-based Tata Steel has said.According to TV Narendran, meeting decarbonization targets will be a challenge, but it is achievable."The transition isn't going to be easy or cheap - there are multiple solutions. I don't think there...Read More
Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More
European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of downstream steel users, Fastmarkets learnt on Wednesday June 16.On June 11, the EC presented a draft document of the adjusted measures to member states, suggesting a three-year...Read More
Steel scrap import prices into China remained stable on Wednesday June 16 despite reports of a new transaction for Shindachi busheling from Japan to China.A deal for 3,000 tonnes of Shindachi, the prime scrap grade traded in Japan, was heard at $550 per tonne cfr China. The deal was believed to have been done on Tuesday.There were mixed views about whether there was any price difference between Sh...Read More
Austrian steelmaking group Voestalpine has developed an industrial scale process for carbon-neutral steel production without the use of fossil carbon and secured the intellectual property rights to the process from the European Patent Office, the company said on June 15.The patent is valid in all major European steel manufacturing countries and specifically covers the production of sponge iron - d...Read More
Iron ore prices fell on Wednesday June 16 amid market concerns of weakened demand for steel, which prompted prices to ease as well, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $214.08 per tonne, down $7.79 per tonne62% Fe low-alumina fines, cfr Qingdao: $216.55 per tonne, down $6.54 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184.92 per tonne, down $9.68 per to...Read More
The London Metal Exchange will donate $1.7 million to two multi-year projects run by charities in Zambia and the Democratic Republic of the Congo (DRC) focused on reducing the number of children working in mines.The exchange announced it funding partnerships with charities Pact and The Impact Facility on Wednesday June 16.Pact will undertake a three-year project in the central and copper-belt prov...Read More
China's domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.DomesticEastern China (Shanghai): 4,980-5,010 yuan ($778-783) per tonne, down by 70 yuan per tonne.Fear of further drops in end-user demand and the decline in futures prices have strengthened sellers' desire to run down...Read More
Chinese aluminium market sentiment dipped in the morning of Wednesday June 16 after the National Food & Strategic Reserves Administration announced moves to calm the overheated commodity market, yet optimism remains for aluminium's price performance in the second half of 2021. China announced on Wednesday it will release its national base metals reserves in the near term to stabilize commodity pri...Read More
The hot-rolled coil price in China's domestic market extended its losses on Wednesday June 16 after the futures price fell for a second straight day on pessimist views for near-term steel demand. Domestic Eastern China (Shanghai): 5,440-5,480 yuan ($850-857) per tonne, down by 100-110 yuan per tonne. Two consecutive days of declines have sent the most-traded HRC contract on the Shanghai Futures Ex...Read More
Base metals prices weakened further during morning trading on the London Metal Exchange on Wednesday June 16, on news that the Chinese state reserve will sell copper, aluminium and zinc to ensure price stability. The three-month zinc price was down by 1.9% at 9am on Wednesday to $2,972 per tonne from its previous closing price of $3,029 per tonne. The metal had resisted sharp falls across the comp...Read More
Key data from the pricing session in London on Wednesday June 16.Key drivers: A pickup in activity was reported in Europe and the United States with almost 100 tonnes transacted across both grades, and sources citing demand from both users and traders. Sources also agreed that Chinese market participants...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalia Ouerghi...Read More
An overview of the consumer electronics markets and their latest price moves.Dalila Ouerghi and Cristina Belda...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday June 16.Key drivers The ferro-titanium market was steady for the third consecutive week amid signs of consumers returning for feedstock for their third-quarter steel-smelting schedules. Spot business was quiet, with only one deal below 10 tonnes reported.Ferro-titanium suppliers are...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb at 20.10-20.70 on...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at...Read More
Chinese automotive production and sales figures both fell on a monthly and annual basis, although figures for new energy vehicles still increased, according to the data from the China Association of Automobile Manufacturers (CAAM).Carmakers produced 2.04 million units in May, down by 8.70% month on month and 6.80% year on year, while sales came to 2.13 million units, down by 5.50% from April 2021,...Read More