China’s steel mills look elsewhere for contractual supplies after ‘unpredictable politics’ disrupts flow of Australian coking coal
China’s “unpredictable political moves” in relation to coking coal from Australia has driven some Chinese steel mills to increase their contractual supplies of the steelmaking raw material from elsewhere, sources told Fastmarkets this week.
Asia will soon be hit by a “steel tsunami”, a veteran trader in Vietnam told Fastmarkets recently, with a combination of factors expected to keep prices high into the second and third quarters of 2021.
Iron ore plays a critical role in decarbonizing steelmaking. What does greener steel mean for global iron ore markets? And what part will China play in driving change? Our global steel and iron experts weigh in.
Panic selling in the major Vietnamese hot-rolled coil import market has let prices dip below $1,000 per tonne cfr Vietnam for SAE1006-grade materials this week, sources said on May 21.
Understanding the cost of decarbonization and its impact on steel prices and raw material costs
A radical shake-up of the European Union’s waste shipment regulations could lead to a total ban or the implementation of controls on scrap metal exports from the territory, Fastmarkets understands.
With just 35 days remaining until the United Kingdom withdraws from the European Union, the country’s potential departure from the EU single market could see its domestic aluminium scrap market face business-critical trade barriers that, according to market participants, would send the UK’s scrap industry hurtling backwards.
US steel scrap sellers have been locked in negotiations for sales to China this week amid a continued drop in global prices, industry sources told Fastmarkets.
It has been almost one year since the start of the Covid-19 outbreak and global economies are still recovering from the fallout. Fastmarkets analyzes the effects of the pandemic on global cobalt supply and trade flows.
The price of shredded steel scrap imported jumped by almost $30 per tonne on Friday December 18 due to continued tightness in container availability and a strong international market, sources told Fastmarkets.