Premiums for spot zinc material were stable in the week to June 15, with the US premium for lead holding at an all-time high. Zinc premiums in Europe are at their highest since 2019 due to low availability of spot material, but may drop in summer 2021. US lead premiums continue at their peak of 14.50-16.50 cents on tight supply and logistics issues, with the latter also affecting the European zinc...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.In briefEarnings increased in line with increased production of flat steel, specifically hot-rolled coil, and exports, the company said in a release to London Stock Exchange on Wednesday June 16."With respect to flat steel, a significant development has occurred in t...Read More
Proudfoot Global CEO Pamela Hackett talks 'wrestling chaosSPONSOREDproudfootAntipa set to soar amid Winu and Havieron potentialSPONSOREDantipa mineralsAzure's Andover nickel shapes as a Pilbara NovaSPONSOREDazure mineralsMcDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesThe exploration company announced the acquisition of Adeline four weeks ago from royalty...Read More
Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe "relatively modest" site activities were set to include site care and maintenance, continuing select environmental baseline studies, permit compliance and collecting data for ongoing engineering studies."While our appeal of the November 2020 federal Record of Decision for Alaska's Pebble project progresse...Read More
Proudfoot Global CEO Pamela Hackett talks 'wrestling chaosSPONSOREDproudfootAntipa set to soar amid Winu and Havieron potentialSPONSOREDantipa mineralsAzure's Andover nickel shapes as a Pilbara NovaSPONSOREDazure mineralsMcDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesThe election result could prove to be a turning point in Peru's trajectory of 20-years of...Read More
Increased feedstock costs as well as solid demand pushed the rebar price in Southern Europe up further in the week to Wednesday June 16. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe at ?,?760-785 ($921-952) per tonne on Wednesday, up from ?,?740-760 per tonne last week. The price has been rising steadily since early May when it st...Read More
European steel H-beam prices rose again on Wednesday June 16, with some mills closing their order books for July bookings, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,000-1,030 ($1,212-1,249) per tonne on June 16, up from ?,?970-1,000 per tonne one week earlier.Various European mills have stepped out of the market...Read More
Steel rebar prices in the north of Europe continued to rise in the week to Wednesday June 16, gaining support from strong demand, short supplies and rising feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?840-860 ($1,018-1,043) per tonne on June 16, up from ?,?800-820 per tonne on June 9.The...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Investors are waiting for an update on the Fed Fund Rate from the Federal Reserve at 2:00 PM EDT. Consensus calls for no change in the Fed Fund rate at 0.00%-0.25%.U.S. equity index futures were virtually unchanged following release of the May Housing Start report at 8:30 AM EDT. Consensus w...Read More
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