IN CASE YOU MISSED IT: 5 key stories from July 8

Here are five Fastmarkets stories you might have missed on Wednesday July 8 that are worth another look.

The recovery in Chinese steel consumption, especially that for rebar, has been “extraordinary,” while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets’ Covid-19 and Asian ferro-alloys markets webinar on Tuesday June 30

African metal exporters are re-routing their cargoes to avoid the logistics problems created a nationwide strike by truck drivers in South Africa that started on Tuesday July 7.

Russian miner and smelter Nornickel has challenged a $2.1 billion bill issued by the country’s environmental watchdog on July 6 after a huge oil spill in May.

Fresh deals for third-quarter aluminium ingot supply to Japan have been concluded at $79 and $80 per tonne cif main Japanese ports (MJP), sources told Fastmarkets on July 8.

The recent resurgence of Covid-19 infections in Beijing is not expected to exert any significant impact on the domestic ferro-alloys market, delegates heard at Fastmarkets’ “Covid-19 and Asian ferro-alloys market” webinar on June 30.

What to read next
Fastmarkets proposes to extend the shipment window of its alumina index inferred, fob Brazil, to allow for greater inclusion of reported liquidity, and to increase the frequency of publication to weekly.
Following a month-long consultation period, Fastmarkets has amended the methodology for the bi-weekly assessment of the aluminium P1020A main Japanese ports (MJP) spot premium, to include domestic tenders and deals from the Japanese market.
Fastmarkets proposes to discontinue its ferrous scrap consumer buying price for cast iron borings in Pittsburgh due to a lack of liquidity.
Fastmarkets is proposing a realignment of its consumer buying price for ferrous scrap No1 busheling in Cincinnati and Pittsburgh, effective from the May 2023 monthly settlement.
A drive by electric vehicle (EV) manufacturers to improve the affordability of their cars may upend an expectation by some market observers that future EV dominance of automotive production will sharply reduce demand for special bar quality (SBQ) steel
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
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