July 2023

Vale recovers iron ore production in Q2, expects to meet annual guidance

Vale, one of the world’s leading iron ore producers, is on track to reach its production guidance volume of 310-320 million tonnes this year, because it has increased the output from its S11D mining operation in Brazil’s northern Carajás region, it said in a conference all on Friday July 28.

European steel HRC market quiet amid summer closures

Trading in the market for steel hot-rolled coil in Europe remained quiet on Monday July 31 as a result of seasonal summer closures, industry sources told Fastmarkets.

Russian wire rod export prices continue to slide

Russian wire rod export prices continued to fall in response to dwindling global demand, sources told Fastmarkets on Monday July 31.

Turkish mills start booking scrap for September; prices stable

Turkish steel mills have started their deep-sea scrap bookings for September shipments at stable prices, but overall demand remains weak due to limited steel sales, sources told Fastmarkets on Monday July 31.

Saudi Arabia’s Hadeed SABIC rolls over rebar, wire rod prices

Saudi Arabia’s largest steel producer Hadeed SABIC, has rolled over its rebar and wire rod prices for August-production.

Emirates Steel Arkan cancels plan to buy stake in Thyssenkrupp steel unit, sources say

Emirates Steel Arkan has cancelled its plans to acquire a stake in the steel division of Germany-based Thyssenkrupp, sources close to the Middle Eastern company have told Fastmarkets.

Asia met coal prices stable, HCC supplies still abundant

Prices for metallurgical coal products in Asia were stable on Monday July 31 amid limited spot negotiations, while supplies of hard coking coal (HCC) and semi-soft coking coal remained plentiful, sources told Fastmarkets.

Seaborne iron ore prices stable amid caution about China policies

Seaborne iron ore prices were largely steady on Monday July 31 amid cautious sentiment about China’s stimulus policy for consumption of the raw material but crude steel production cuts, industry sources have told Fastmarkets.

Singapore rebar prices edge up amid price rally in China

Singapore's rebar import prices edged up in the week till Monday July 31, mainly due to the price rally in China.

Waterlogging causes weaker rebar demand in northern China

The rebar demand in northern China dropped on Monday July 31 due to waterlogging caused by Typhoon Doksuri, dampening rebar prices slightly.