October 2021

IN CASE YOU MISSED IT: 5 key stories from October 21

Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.

EGYPT STEEL BILLET, REBAR: Prices increase, demand slightly better

Egypt's prices for imported billet and domestic reinforcing bar increased in the week to Thursday October 21, with demand also picking up from previous weeks, sources told Fastmarkets.

ENERGY TRANSITION: UK to set up critical minerals committee, update list

The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country’s net-zero carbon emissions targets, it said.

CIS STEEL BILLET: Prices rise as mills eye uptrend in Turkish market

Prices in the Commonwealth of Independent States’ export market for steel billet moved up on Thursday October 21 amid rising scrap and domestic billet prices in Turkey, which added to the positive expectations among sellers.

Rio Tinto to invest $7.5 billion to meet its revised emission targets

Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.

DAILY STEEL SCRAP: Mills continue booking deep-sea cargoes

Turkish steel mills have continued their deep-sea scrap bookings with two Venezuelan cargoes, market participants told Fastmarkets on Thursday October 21.

EUROPE HRC: Reduced end-user demand weighs on prices

Domestic hot-rolled coil prices across Europe edged down on Thursday October 21 on reduced end-user demand, and trading activity remained limited, sources told Fastmarkets.

BMW to source material from H2 Green Steel from 2025

BMW Group is to source steel from Sweden’s H2 Green Steel for its European plants from 2025, the German car manufacturer said this week.

TURKEY LONG STEEL: Domestic prices continue to rise amid higher scrap costs and weaker lira

Turkish domestic rebar and wire-rod prices have continued to rise over the past week due to higher scrap costs and a weaker lira, market sources said on Thursday October 21.

TURKEY LONG STEEL EXPORTS: Prices up on costlier scrap

Turkish reinforcing bar and wire rod export prices continued to increase over the past week due to strengthening scrap costs, market participants told Fastmarkets on Thursday October 21.