Seaborne premium coking coal prices inched downward on Tuesday October 26 with no trading in the market. Meanwhile, Chinese mills were still to accept the domestic coke price increase proposed on Monday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $614.37 per tonne, down by $0.77 per tonneHard coking coal, cfr Jingtang: $568.59 per tonne, unchangedPremium hard coking coal, fob DBCT:...Read More
Miner Sibanye-Stillwater has acquired Brazilian companies Atlantic Nickel and Minera????o Vale Verde (MVV) from Appian Capital Advisory LLP for $1 billion and an additional royalty, the companies have said.The deal will give Sibanye-Stillwater 100% ownership of both the Santa Rita nickel mine operated by Atlantic Copper, and the Serrote copper mine operated by MVV.Appian will receive $1 billion in...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia decreased or were unchanged during the week ended Tuesday October 26, with only one deal heard, sources told Fastmarkets.Offer prices decreased from India during the week, and Saudi Arabia also offered hot-rolled coil at reduced prices to the UAE."Everyone is in wait-and-see mode," one trader said. "With the Chinese futures ma...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
Sales volumes from Brazilian flat-rolled steel distributors decreased by 27.69% in September, compared with the corresponding month last year, national distributor association Inda said on Tuesday October 26.There was a much stronger base of comparison this year compared with 2020, when the market was rapidly recovering from lows caused by the Covid-19 pandemic.Sales totaled 291,500 tonnes in Sept...Read More
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...Read More
Hot-rolled coil prices in the United States rebounded on Tuesday October 26, with buyers still finding mills unwilling to budge on higher price levels despite reports of softness.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.43 per hundredweight ($1,908.60 per ton) on Tuesday October 26, up by 2.12% from $93.45 per cwt on Monday October 25 but down by 0.50% from...Read More
A summary of the operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also has assets in Europe and the United States, for the third quarter (July-September) of 2021In brief?EUR? In the third quarter, NLMK's consolidated sales decreased by 4% compared with the second quarter, to 4.1 million tonnes amid steel output reductions at its Russian flat steel division.?EUR?...Read More
Sentiment in China's import market for steel billet warmed on Tuesday October 26 following a more solid performance by ferrous futures markets and reports of better power supply in the east of the country.Physical rebar and billet prices remained flat in key Chinese local markets on Tuesday, while the most-traded January rebar futures contract on the Shanghai Futures Exchange (SHFE) closed at 4,91...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
Chinese nickel products producer Lygend Mining has started trialing its second autoclave for mixed hydroxide precipitate (MHP) at its Halmahera Persada Lygend (HPAL) project in Indonesia, it said on Sunday October 24. The move is part of the project's first phase of operations, which has a target capacity of 36,000 tonnes of MHP. The first autoclave has been in production since May.A second phase,...Read More
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
London Metal Exchange prices were mostly lower on the morning of Tuesday October 26, with copper leading the decline with a 1.2% fall and nickel being the exception. Most nearby spreads remained in backwardation, indicating tightness in various markets.Copper's three-month price was at $9,750 per tonne at 9am, down from Monday's 5pm price of $9,867.50 per tonne. Following the LME's newly imposed r...Read More
A summary of the operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also has assets in Europe and the United States, for the third quarter (July-September) of 2021In brief?EUR? In the third quarter, NLMK's consolidated sales decreased by 4% compared with the second quarter, to 4.1 million tonnes amid steel output reductions at its Russian flat steel division.?EUR?...Read More
Rio Tinto and Iceland-based carbon-capture company Carbfix will partner to implement a carbon-capturing storage facility at Rio Tinto's ISAL Aluminium plant in Iceland, according to a statement published on Tuesday October 26.Carbfix will use Rio Tinto land around the ISAL smelter for an onshore carbon mineral storage facility, which will store carbon emissions from the smelter as well as other so...Read More
Base metals prices on the London Metal Exchange were down across the board at the 5pm close of trading on Tuesday October 26.The three-month aluminium price lost more ground, closing 1.6% lower, at $2,829 per tonne.Aluminium was the most-traded metal on LMESelect throughout the day, with 23,151 lots traded by 5:30pm, compared with just 9,243 lots of copper."In line with our expectations, discussed...Read More
The aluminium industry could reduce the carbon intensity of its metal production to under one tonne by 2050 if it works towards limiting the rise in the mean global temperature to 1.5 ?C above pre-industrial levels, the International Aluminium Institute (IAI) said.In this 1.5 ?C scenario, carbon intensity would fall from an average of 16.1 tonnes of carbon dioxide (CO2) per tonne of aluminium curr...Read More
China's imports of billet and slab increased in September from a month earlier but volumes were down year on year, according to the latest customs data.Billet imports totaled 1.13 million tonnes in September, up by 33% from 847,126 tonnes in August but down by 18% from September 2020.Fastmarkets' price assessment for steel billet, import, cfr China averaged $700 per tonne in July and $686 per tonn...Read More
An overview of the chrome ore and alloy markets and their latest price moves in Asia, Europe and the United States on Tuesday October 26.Europe The ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe soared to $3.43-3.75 per lb Cr, a rise of 38-50 cents (14%) over the previous two weeks to set a multi-year high. The market has become extremely tight, with some sellers not offering on th...Read More