December 2021

Russian producers increase January rebar prices on low distributor stocks and limited mill supply

Domestic rebar producers increased January prices in the Central Federal District around Moscow by 1,500-2,000 roubles ($20-27) during the week ended Tuesday December 28.

UAE long steel market slow during the last week of 2021

Steel billet and rebar trading in the United Arab Emirates was weak during the week ended Wednesday December 29, sources told Fastmarkets.

Usiminas annual iron ore output surpasses 9 million tonnes for first time

Mineração Usiminas (Musa), a 70:30 joint venture between Brazilian steelmaker Usiminas and Japan-based conglomerate Sumitomo, has produced more than nine million tonnes of iron ore in a year for the first time, it said on Tuesday December 28.

Poor demand continues to weigh on iron ore prices

Seaborne iron ore prices dipped further on Wednesday December 29 amid weak replenishment demand from mills in the spot market and a bearish outlook in the futures market, sources told Fastmarkets.

Vale, Anglo American discuss joint development of Serpentina iron ore project in Brazil

Vale and Anglo American have had preliminary discussions about jointly developing the Serpentina iron ore project in Brazil, both companies announced on Tuesday December 28.

Limited trading in Japan export steel scrap market amid seasonal slowdown

Spot prices in the Asian ferrous scrap markets were largely unchanged on Wednesday December 29 amid thin spot negotiations caused by the year-end festive period.

Seaborne coking coal prices flat amid no trading

Seaborne coking coal prices in the cfr China and fob Australia markets were flat on Wednesday December 29, while Chinese domestic coking coal prices increased, sources said.

Chinese HRC prices edge up; spot trading picks up

China’s domestic prices for hot-rolled coil regained some strength on Wednesday December 29 amid a second day of increases in the futures market.

China’s steel fundamentals in flux on decarbonization drive: 2022 preview

China’s steel production and end-user demand are likely to experience some dampening in 2022 amid the country’s stringent decarbonization policies, market participants told Fastmarkets.

Low supply pushes up China’s domestic stainless steel prices further

China’s domestic stainless steel prices maintained their upward momentum in the week to Wednesday December 29 amid low stock levels in the spot market.