Hot-rolled coil prices in the United States hovered within $1 of $90 per hundredweight ($1,800 per short ton) for a sixth consecutive business day after market participants reported relative stabilization around that level while spot tons continued to be in short supply. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.94 per cwt ($1,798.80 per ton) on Tuesday July...Read More

European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free emissions allocations, it said on Tuesday July 13."In line with the March 2021 European Parliament vote, Eurofer calls for the CBAM and EU ETS to be complementary systems, without any further redu...Read More

ArcelorMittal has signed a Memorandum of Understanding (MoU) with the Spanish government that will see a ?,?1 billion ($1.19 billion) investment in decarbonization technologies at the company's Asturias plant in Gij??n, it has announced.The investments in new direct-reduction iron (DRI) and electric-arc furnace (EAF) installations in Gij??n will reduce carbon emissions from the company's Spanish o...Read More

Demand for steel rebar and billet was weak in the United Arab Emirates during the week ending Tuesday July 13 due to the coming Eid al-Adha holiday, but import prices for the products rose, sources told Fastmarkets.The main reason behind rising import prices was global price increases.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $645 per tonne on July 13, rising from$623 p...Read More

Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More

Prices for steel scrap in Mexico continued to rise this week, with supply remaining tight and demand for steel products positive.Mexican scrap buyers accepted price increases during the week ended Friday July 9 in order to secure supply, and some market participants expect more increases to come this week.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Mon...Read More

ArcelorMittal has announced that its Sestao plant in Spain will become a full-scale zero carbon-emissions steel plant through the use of green hydrogen and renewable electricity as part of a ?,?50 million ($59 million) investment.The elimination of scope 1 and 2 emissions under the Greenhouse Gas Protocol will be done by changing the metallic input via increasing the proportion of recycled scrap,...Read More

Turkish steel producers managed to secure lower prices from United States suppliers after continuing their deep-sea bookings at a slow pace, market sources said on Tuesday July 13. A steel mill in the Marmara region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $485 per tonne, 20,000 tonnes of shredded and 3,000 tonnes of bonus at $500 per tonne cfr late on Monday July 12....Read More

The anchor event for Singapore International Ferrous Week (SIFW) was the Singapore Iron Ore Forum, and this offered an in-depth agenda which addressed the industry's most pressing issues, unparalleled insights into global trends shaping the iron ore sector after Covid-19, and compelling speakers who delivered fresh perspectives.In the panel discussion on Tuesday July 13 titled "Diversifying China'...Read More

Global demand for steel is growing, and major iron ore producers have made plans to increase their output capacity to keep up. Major miners were represented at a panel discussion during the Singapore International Ferrous Week 2021 on Tuesday July 13 to discuss the outlook for supply and demand.Supply outlookBHP has achieved record production of iron ore in the first nine months of its current fin...Read More

Iron ore prices largely went up on Tuesday July 13 after China's June imports data was released and with relatively low shipments from Australia.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.48 per tonne, up by $0.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $221.46 per tonne, up by $0.86 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.66 per tonne, down by $2.73 pe...Read More

Seaborne coking coal prices stayed large stable in both the cfr and fob markets on Tuesday July 13 because buying interest was weak in the face of elevated offer prices, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.27 per tonne, down by $0.26 per tonnePremium hard coking coal, cfr Jingtang: $307.98 per tonne, down by $0.82 per tonneHard coking coal, f...Read More

Hot-rolled coil prices in China's domestic market slipped on Tuesday July 13, with futures prices sideways while market participants weighed Beijing's latest easing measure against the ongoing seasonal demand lull.DomesticEastern China (Shanghai): 5,780-5,820 yuan ($894-900) per tonne, narrowing downward by 30 yuan per tonneThe most-actively traded HRC contract on the Shanghai Futures Exchang...Read More

China's domestic rebar prices decreased on Tuesday July 13 amid weak demand caused by unfavorable weather.DomesticEastern China (Shanghai): 5,080-5,100 yuan ($784-787) per tonne, down by 70-100 yuan per tonneHigh temperatures in eastern and southern China and heavy rain in northern China disrupted construction activity and sapped demand for rebar.Such adverse weather...Read More

Tin set a new year-to-date high on the London Metal Exchange on the morning of Tuesday June 13, while the rest of the complex edged upwards too, with macroeconomic factors and a new wave of Covid-19 hitting metal-producing countries supporting higher prices.Tin reached $32,285 per tonne during early trading, before trimming back to $32,135 per tonne at 9am, but still higher than Monday's closing p...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...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...Read More

The manganese flake price has been on the rise since May 2021 due to tight availability in the spot market and strong demand from both the steel industry and the renewable energy automobile industry, sources told Fastmarkets.Fastmarkets' price assessment for 99.7% electrolytic manganese flake basis, fob, China rose to $2,800-2,850 per tonne on July 9, up by 3.70% from $2,700-2,750 per tonne o...Read More

Chinese automobile production and sales continued to decline in June - both month on month and year on year - amid a sustained global shortage of semiconductors, the China Association of Automobile Manufacturers (CAAM) said last week.But the new energy vehicle (NEV) segment continued to strengthen last month, with sales notching a new record high.China's NEV output increased by 14.3% from May to 2...Read More

An international consortium plans to build what would be the world's biggest renewable energy hub along the south coast of Western Australia.The Western Green Energy Hub (WGEH) would stretch across 15,000 square km, an area bigger than the size of greater Sydney, and could produce up to 50 gigawatts of energy. The A$100 billion (US$75 billion) project would also convert wind and solar power into g...Read More