Hot-rolled coil prices in the United States have surged above $94 per hundredweight ($1,880 per short ton) for the first time, after zooming past $93 per cwt on Wednesday July 28, with market participants projecting that the rally will not come to an end until late this year at the earliest.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.03 per cwt ($1,880.60 per...Read More

A summary of ArcelorMittal's financial results for the April-June quarter of 2021, according to its financial results statement published on Thursday July 29.In brief"On the financial side, the second quarter has seen a continued strong recovery backdrop alongside a sustained lean inventory environment," chief executive officer Aditya Mittal said."This resulted in even healthier spreads in our cor...Read More

A summary of sales figures from Russian steelmaker and vanadium producer Evraz for the April-June quarter of 2021, according to the company's trading report published on Thursday July 29.In brief Total sales of steel products rose by 6.1% quarter on quarter to 3.24 million tonnes, driven by higher sales of finished products in Russia amid favorable market conditions. It was also supported by an in...Read More

Two of the biggest topics facing miners are electrification and automationSPONSOREDauto-mateZinc-lead discovery helps Zenith double market capSPONSOREDzenith mineralsHigh-grade Costerfield gold mine drives turnaroundSPONSOREDmandalay resourcesNZ heeds the call of Siren GoldSPONSOREDsiren goldThe company produced 63,457 tonnes of copper, 34,833t of zinc, 41,000 ounces of gold and 4,774t of nickel i...Read More

China exported 1.03 million tonnes of steel hot-rolled coil in June 2021, adding 168% to the figure of 381,984 tonnes a year earlier, according to data recently published by China's General Administration of Customs.Vietnam remained the principal buyer of Chinese HRC, taking 276,418 tonnes in June.Exports of other major steel products also showed sharp year-on-year increases in June, particularly...Read More

The prices of billet in Turkey have weakened in the week to July 29 due to falling scrap import values, sources told Fastmarkets.The Turkish deep-sea scrap import prices fell in the week because steel mills resisted for lower prices amid limited steel trade. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was calculated at $475.96 per tonne on July 28, down by...Read More

Billet producers from the Commonwealth of Independent States increased offers for foreign customers this week despite the lack of inquiries from typical customers.Early in the week, market participants reported offers within the range of $650-660 per tonne fob Black Sea, but by the end of the week those had increased to $660-665 per tonne fob, while some producers mentioned even $670 per tonne fob...Read More

U.S. equity index futures were mixed this morning. S&P 500 futures were up 3 points in pre-opening trade.U.S. equity index futures were quiet prior to release of U.S. economic reports at 8:30 AM EDT. Consensus for second quarter annualized real GDP is an increase of 8.6% versus a gain of 6.4% in the first quarter. Consensus for June Personal Income is a drop of 0.3% versus a decline of 2.0% in...Read More

Indian steelmaker Jindal Stainless (JSL) plans to add 1 million tonnes per year to its melting capacity with a major brownfield project scheduled for completion in late 2023, the company said this week.JSL will build the new capacity on a site at its existing production plant in Jajpur, in the east Indian state of Odisha, it said on Wednesday July 28.The brownfield expansion should be complete by...Read More

Turkish deep-sea scrap import prices have fallen due to a United States cargo deal completed at a low price, sources told Fastmarkets on Thursday July 29.A steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $471 per tonne with shredded and bonus at $486 per tonne cfr.This compares with the previous deep-sea booking heard on Wednesday July 28, when a steel mill in the...Read More

Recycling firm Chiho Environmental Group (CEG) has appointed experienced scrap industry figure Tom Bird as chief trading officer, the company announced on July 27. The appointment was effective from July 1.Chiho is China's largest scrap metal recycling company, running 700 yards globally with extensive operations in the recycling of ferrous and non-ferrous metals scrap. CEG also owns both German f...Read More

Iron ore prices fell on Thursday July 29 amid thin liquidity and soft market sentiments, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $196.06 per tonne, down $6.62 per tonne62% Fe low-alumina fines, cfr Qingdao: $197.46 per tonne, down $5.62 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.87 per tonne, down $7.36 per tonne65% Fe Brazil-origin fines, cfr Qingdao:...Read More

China's domestic rebar prices picked up on Thursday July 29 following futures gains on expectations of tight supply caused by a new power pricing method, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,300-5,330 yuan ($820-825) per tonne, up by 30 yuan per tonneThe National Development and Reform Commission now requires local governments to change peak-valley power prices for industri...Read More

Seaborne coking coal prices inched up in both the cfr and fob markets on Thursday July 29 amid supply tightness and firm buying interest, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $216.04 per tonne, up $0.49 per tonnePremium hard coking coal, cfr Jingtang: $317.22 per tonne, up $1.46 per tonneHard coking coal, fob DBCT: $183.25 per tonne, up $0.84 per tonneHard coking coa...Read More

Prices of hot-rolled coil across China's domestic market followed futures prices higher on Thursday July 29, while the export market remained muted amid persistent fears of changes in the export tax policy, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,920-5,950 yuan ($916-920) per tonne, up by 40-50 yuan per tonneGains in the most-traded HRC contract on the Shanghai Futures Exchang...Read More

Base metals prices on the London Metal Exchange were up across the board during morning trading on Thursday July 29 given a range of price-supportive events, with nickel the standout performer with an increase of 1.4% from its closing price on Wednesday.The three-month nickel price stood at $19,810 per tonne at 9am on Thursday, up from $19,543 per tonne at the previous day's 5pm close. The metal a...Read More

Chinese copper fabricators bought copper cathode at bigger discounts against exchange prices during a second batch of sales by China's state reserves administration on Thursday July 29. The auctioned material was sold at around 70,000 yuan ($10,767) per tonne in the provinces of Zhejiang and Ningbo, bidders told Fastmarkets. This is a discount of about 1,300 yuan per tonne against the August coppe...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...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...Read More

A multi-country trade case involving silicon metal imported to the United States concluded on Wednesday July 28, when the US International Trade Commission (ITC) decided to apply the recommended 12.27% anti-dumping duty on Malaysian silicon imports."The United States International Trade Commission today determined that a US industry is materially injured by reason of imports of silicon metal from...Read More