July 2021

JAPAN STEEL SCRAP: Local mills reduce intake but low supply supports prices

Summer maintenance work at steel mills was continuing across Japan but reduced generation volumes and strong prices paid by South Korea were continuing to support export scrap prices, sources told Fastmarkets on Wednesday July 28.

DAILY STEEL SCRAP: Prices down in fresh US deal amid weak steel sales

Turkish deep-sea scrap import prices fell sharply with the United States cargo deal announced on Wednesday July 28, sources told Fastmarkets.

COKING COAL DAILY: Prices up in fob market on active buying

Prices in the coking coal market in China held firm on Wednesday July 28 but climbed in the fob Australia market on increased buying interest, market sources said.

IRON ORE DAILY: Seaborne prices largely flat amid limited liquidity

Iron ore prices were largely flat despite gain in futures on Wednesday July 28 due to the tight trading activity in the physical market, sources told Fastmarkets.

CHINA STEEL SCRAP: Demand muted but strong offers persist

The spot market for imported scrap into China remained quiet on Wednesday July 28 due to Japanese sellers offering cargoes at prices much higher than buyers’ ideas of acceptable price levels, sources told Fastmarkets.

FOCUS: Direct-charge iron ore demand likely to weaken amid growing steel output curbs

A growing number of steelmakers cutting production in China has prompted steel mills to reduce their consumption of direct-charge iron ore – iron ore pellets and lumps, market sources told Fastmarkets.

Mexican steel scrap prices edge up but show signs of stabilizing

Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.

DAILY STEEL SCRAP: Mills stay away from deep-sea bookings

Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.

Rapid scaling-up of solar, wind energy crucial for carbon targets, BloombergNEF says

More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.

IRON ORE DAILY: Soft sentiment, rising port stocks weaken seaborne prices

Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.