Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week. "The higher production and shipments from Australian miners over [the fourth quarter] is pretty normal as seen over the years. It is their way of pushing to meet their half-year targets for the financial year...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
CIS-based suppliers of steel billet continued to increase their offer prices for foreign customers at the end of October with support from reduced availability of material scheduled for shipment in December.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was calculated at $410 per tonne on Monday October 26, up by $4 per tonne day on day.The recent uptick in import scrap prices...Read More
China's domestic rebar prices dropped slightly on Monday October 26 on high, but declining, inventories. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($554-558) per tonne, down by 10 yuan per tonneChina Iron & Steel Association reported that rebar stock in China's major markets was about 6.33 million tonnes in mid-October, down by 6.2% from earlier in the month...Read More
Portside prices for low- and high-grade manganese ore in China fell for the sixth consecutive week in the week to Friday October 23, partly as a result of traders lowering their offer prices to secure deals with domestic alloy smelters, market participants told Fastmarkets. Both prices are at their lowest levels since November 8, 2019, when the low- and high-grade ore stood at 31.70 yuan ($4.73) p...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
Mongolia shipped twice as much metallurgical coal to the Chinese market than Australia in September, confirming its position as the key supplier of the steelmaking raw material to China.Mongolia sent 3.89 million tonnes of coking coal to China in September, while Australia shipped 1.98 million tonnes. In August, China imported 3.07 million tonnes of coking coal from Mongolia, and 3.02 million tonn...Read More
Liberty Steel, part of the GFG Alliance, has restarted Adhunik Steel in India six months after it acquired the plant, the company said on Thursday October 22. The company said that it had restarted the first phase of production at Adhunik Metaliks Ltd and Zion Steel following the acquisition of the steel businesses in February 2020. The acquisition of the Indian site is a strategic investment in o...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Hot-rolled coil prices in the United States climbed for the eighth consecutive business day while tight supply continued to bump up against rising demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $34.10 per hundredweight ($682 per short ton) on Monday October 26, up by 1% from $33.76 per cwt on Friday October 23 and 2.1% higher than $33.39 per cwt a week ago on...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
CIS-based suppliers of steel billet continued to increase their offer prices for foreign customers at the end of October with support from reduced availability of material scheduled for shipment in December.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was calculated at $410 per tonne on Monday October 26, up by $4 per tonne day on day.The recent uptick in import scrap prices...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...Read More
Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More
Sometimes it is better to let a situation speak for itself. Alcoa, Rio Tinto Aluminium, Novelis, Constellium, Arconic, Kaiser Aluminum, Tri-Arrows Aluminum, American Metal Chemical Corp, Hydro Extrusion North America, JW Aluminum, Real Alloy, Reynolds Consumer Products, Scepter, Silberline Manufacturing Co, Smelter Service Corp and Wagstaff. The US Aluminum Association, which represents more than...Read More
Limited availability and a solid outlook for electric vehicle (EV) demand have given annual contract negotiations for cobalt hydroxide a kick start, but discussions for cobalt metal may evolve over a longer period, market sources told Fastmarkets.While Covid-19 has hit global economies and dented consumer sentiment, it also put low-carbon economies at the forefront of government policy and expecte...Read More
The three-month price of tin on the London Metal Exchange was the laggard at the close of trading on Monday October 26, losing just under 2% of its price against the highest daily volume count since September 23, while selling pressure saw the LME copper price sink below nearby support levels over the afternoon.Tin's outright price on the LME closed at $18,050 per tonne on Monday, recovering from...Read More
The lithium market has grown to a stage where it can support a futures contract, especially in the context of significant price moves in recent years and forecasts of further growth, Robin Martin, head of market development at the London Metal Exchange, said during a Fastmarkets conference on Monday October 26. "In terms of size, [lithium] is now at a level where it can support an actively traded...Read More
Three-month base metals prices on the LME were lower in morning trading on Monday October 26, with tin suffering the most after doubts emerged over the US coronavirus stimulus package and with a steady uptick in the US dollar index. Tin's outright price on the London Metal Exchange was recently trading at $17,865 per tonne on Monday morning, down by just under 3% from Friday's closing price o...Read More