The consumption of steel scrap in the United Arab Emirates (UAE) was expected to rise sharply in the coming years amid expansions in steelmaker capacities to feed greater steel demand
The gloomy economic tone at the conference was compensated by the large numbers of delegates in attendance and cheerful networking. 1. Slow growth in China Slow growth in China continued to spook market participants. Those who have recently returned from trips there shared anecdotes and photographs on social media of blue skies and a lack […]
While daily crude steel production stood at 2 million tonnes in mid-October, a 1.25% decrease from the previous year according to data published by China’s Iron and Steel Association (CISA), overall production has remained relatively firm following a strong first half of 2023. With no clear indications of a rebound in downstream steel prices in […]
Talks between the European Union and the United States began in October 2021, where both parties announced the Global Arrangement on Sustainable Steel and Aluminium (GASSA), a partnership in which both parties would negotiate an arrangement to combat global overcapacity and climate change. The discussions would include discouraging trade in high-carbon steel and aluminum that […]
NANO has targeted remote mining operations run by diesel fuel in locations where the logistics of providing a constant source of fuel “may be a challenge,” the CEO said. The company’s microreactors could also expand mining opportunities to more new locations. “It can make thousands of potential mines economic and come online, whereas before, they […]
US steel scrap prices ahead of November trade The Trend Indicator has rebounded into bullish territory, at 61.4 for November compared with a resolutely bearish 45.6 in October. This month’s indicator is at its highest since March’s outlook, when it was 65.2. The Outlook’s prediction model allows for an average month-on-month price increase of 5.1%. Respondents […]
Brazilian capital goods, construction and steel packaging industry groups are against a request from steel mills for the country to raise its steel import duties to 25%, already predicting rising costs in each sector if an increase is greenlit
Key talking points from the Nordics regional meeting of steel distributors’ association Eurometal, held in Copenhagen, Denmark, on Thursday October 5
Fastmarkets is proposing to discontinue its broker buying, FOB, price assessments for punchings and plate grade ferrous scrap in the Cleveland and Pittsburgh markets.
Fastmarkets is proposing to adjust the methodology for its FOB NOLA alternative irons prices to include bids, offers and assessments of the market as well deals in its weekly pricing session.