January 2022

Posco-Adani steel project could add to India's oversupply, sources say

Posco and the Adani Group’s recently announced steel project will likely add to the steel oversupply in India until demand picks up sufficiently to consume the surplus volumes, market sources told Fastmarkets this week.

Turkish steelmakers continue to stay away from deep-sea scrap trades

Turkish steel mills have again extended their absence in the deep-sea scrap market, amid continuing poor finished long steel sales, market participants told Fastmarkets on Wednesday January 19.

Japan export scrap prices move up amid swell in overseas demand

Export prices for steel scrap cargoes from Japan have benefitted from a jump in demand from key Asian importers such as South Korea and Vietnam over the past week, market sources told Fastmarkets on Wednesday January 19.

Seaborne coking coal prices increase on higher bid level

Seaborne coking coal prices increased on Wednesday January 19 on higher bid prices for premium hard coking coal in the fob Australia market, while BHP lowered its coking coal production guidance for 2022.

Iron ore prices bullish amid active trading

Seaborne iron ore prices surged on Wednesday January 19 amid very active trading for seaborne cargoes, sources told Fastmarkets.

BHP lowers FY22 met coal guidance to 38-41 million tonnes, keeps iron ore forecast at 249-259 million tonnes

A summary of BHP’s latest review for metallurgical coal and iron ore released on Wednesday January 19

Five key stories from January 18

Here are five Fastmarkets stories you might have missed on Tuesday January 18 that are worth another look.

Mexican scrap prices mixed after US price cuts

Ferrous scrap prices in Mexico diverged in the week ended Friday January 14, with some buyers applying increases while others made efforts to reduce pricing.

Limited long steel demand keeps Turkish steelmakers away from deep-sea scrap market

Turkish steel producers continued to stay silent in the deep-sea scrap market due to limited finished long steel sales, market participants told Fastmarkets on Tuesday January 18.

Buying fades in Indian shredded scrap market, suppliers reduce offers

Trading in the Indian import shredded scrap market has faded in recent days amid limited demand.