Domestic steel reinforcing bar prices in the United States stabilized after last week's spike, while import prices continue to climb.Fastmarkets' weekly assessment for steel reinforcing bar, fob mill US was $48 per hundredweight ($960 per short ton) on Wednesday June 23, unchanged from the previous week, but up 11.63% from $43 the month before.US marketAlthough the cost of rebar stabilized this we...Read More

Hot-rolled coil prices in the United States held above $84 per hundredweight ($1,680 per short ton) for 10 consecutive business days, with buyers scrambling to acquire material at any price, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $84.69 per cwt ($1,693.80 per ton) on Thursday June 24, down by 0.54% from $85.15 per cwt on Wednesday Jun...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade.U.S. equity index futures were virtually unchanged prior to release of economic news at 8:30 AM EDT. Consensus for May Durable Goods Orders is an increase of 1.9% versus a decline of 1.3% in April. Excluding aircraft orders, consensus for May Durable Orders is an increase of 0.8% versus a...Read More

The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said on Wednesday June 23."We still don't know details about tonnage or types of products that will be needed," Abimaq's executive president, Jos?(C) Ve...Read More

A group of Ukrainian parliamentarians have proposed a tax on excess profits from the export of commodities including iron ore, non-ferrous metals, ferrous scrap and rebar, Fastmarkets learned on Thursday June 24.A set of draft laws published on June 16 suggests changes to the country's tax, customs and budgetary codes, according to a note published by Verkhovna Rada, the Ukraine parliament. These...Read More

Total world crude steel production among 64 major producer countries reached 174.4 million tonnes in May 2021, up by 16.5% compared with May 2020, the World Steel Association (Worldsteel) said on Tuesday June 22.All regions reported double-digit percentage increases in crude steel output compared with May 2020, which was substantially affected by the initial Covid-19-related lockdowns.Among the la...Read More

Turkish steel mills have broken their silence in the deep-sea scrap import markets with a fresh US cargo sold at a slightly lower price, market sources said on Thursday June 24.A steel mill in the Izmir region booked a United States-origin cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $499 per tonne, 16,000 tonnes of shredded and 2,000 tonnes of bonus at $519 per tonne cfr....Read More

Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More

The first shipment of imported scrap since China lifted restrictions - a cargo of 3,000 tonnes booked by Shandong Iron & Steel - cleared customs checks at Lanshan port in Rizhao, Shandong, on June 15, sources told Fastmarkets this week.China officially eased restrictions on scrap imports in January 2021.Buyers have continued to show only limited interest in booking imported scrap cargoes due to th...Read More

Iron ore prices declined on increasing steel inventories and a high chance of stricter restrictions on steel mills ahead of centennial celebrations, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $213.46 per tonne, down $2.55 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.08 per tonne, down $2.26 per tonne58% Fe fines high-grade premium, cfr Qingdao: $183.86 per tonne,...Read More

China's domestic rebar prices increased on Thursday June 24 in response to futures gains on Wednesday, stimulating demand for restocking, sources said.DomesticEastern China (Shanghai): 4,820-4,850 yuan ($745-749) per tonne, up by 10-20 yuan per tonneOctober rebar futures on the Shanghai Futures Exchanged increased on Wednesday night to trade as a high of 5,022 yuan per tonne, up by 88 yuan per ton...Read More

Hot-rolled coil prices across China's domestic market moved in a smaller range on Thursday June 24 while futures prices took a respite from choppy trading in previous days, sources said.DomesticEastern China (Shanghai): 5,300-5,360 yuan ($819-828) per tonne, narrowing by 20 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange fell during the day, reversing gains from overn...Read More

Copper prices on the London Metal Exchange fell on the morning of Thursday June 24, with concerns of earlier-than-expected interest rate increases returning to the market.The three-month copper contract on the LME was down 1.3% at 9am on Thursday, at $9,357.50 per tonne, following a 2% rise at the close of trading on Wednesday, at $9,482.50 per tonne. Wednesday's closing price was the metal's high...Read More

Consolidation has set in across the base metals on the London Metal Exchange this morning, Thursday June 24, while in Shanghai, moves were mixed in response to the combination of yesterday's strength and this morning's weakness on the LME.Broader markets also mixed this morning, suggesting that markets are waiting for directionBase metalsLME three-month base metals prices were down across the boar...Read More

China's domestic stainless steel prices rose to their highest in four-and-a-half years over the past week after producers made upward adjustments to their list prices.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,900-17,500 ($2,609-2,701) per tonne, up by 300 yuan per tonne Prices were last at these levels in December 2016, according to Fastmarkets' data.High productio...Read More

An overview of the consumer electronics markets and their latest price moves.Dalila Ouerghi and Janie Davies...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...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...Read More

Osisko Development (TSXV: ODV) has released the latest drill results from the Valley zone at its Cariboo gold project in central B.C., approximately 115 km southeast of Prince George and 500 km north of Vancouver. Highlights included drillhole CM-21-005, which returned 10.7 metres grading 17.16 grams gold per tonne starting from 228.1 metres, including 1.25 metres of 20.20 grams gold. Hole CM-21...Read More

A new study shows that small modular nuclear reactors are a viable option to reduce or eliminate reliance on diesel energy for remote mines and communities in Canada's North, and could provide them clean, economic and reliable energy and heat.The economic feasibility and cost benefit study looked at very small modular reactors (vSMRs) generating less than 10 megawatts of power.The conceptual econo...Read More