The wait time for aluminium to be delivered from Istim's London Metal Exchange-registered warehouses in Port Klang, Malaysia was still over two months at the end of September, according to the latest LME queue report, and market participants believe it has grown even longer since the start of October. The queue was 61 days for aluminium on the last day of September, according to data released on M...Read More
Aluminium producer Vedanta has named trading houses Gerli Metalli Spa in Italy and Conexus Resources Ltd in London as two new European marketing agents, according to letters seen by Fastmarkets.Gerli will be responsible for marketing Vedanta's value-added aluminium products (VAP) in Italy, Slovenia, Slovakia, Croatia and Bosnia and Herzegovina, while Conexus will market Vedanta's VAP in Turkey, Bu...Read More
Finland is building up Europe's next stage of battery metal evolution with Terrafame's new battery chemical plant, and trading house Trafigura is squarely in the mix. With Terrafame, Finland's government has resurrected the assets of formerly defunct Talvivaara Mining, and is shaping up to bring about the world's largest nickel sulfate plant early next year. Having initially invested in Terrafame...Read More
Goldman Sachs has hired Nicholas Snowdon as a metals strategist in London, Fastmarkets understands.Snowdon joins from Deutche Bank and...Read More
The LME three-month zinc price climbed more than 1% during morning trading on Monday October 12, while the fresh cancelation of some 11,650 tonnes of copper from LME warehouses in New Orleans failed to spark upward momentum in LME futures. Zinc's outright price on the LME was recently trading at $2,455 per tonne, climbing from a morning low of $2,403.50 per tonne, while turnover was strong at more...Read More
Aluminium producer Rusal has announced plans to switch the reduction area of its Krasnoyarsk aluminium smelter (KrAZ), in Russia, to a new type of raw material to reduce emissions. It will use eco-friendly pitch, which is less tarry in nature and its application in the aluminium production process is less harmful for the environment. The implementation of this and other technical innovations at Kr...Read More
Hot-rolled coil prices in the United States have again moved higher, with some mills holding off from making offers, demand continuing to rise slowly and supply remaining restricted by mill idlings, outages and a slab shortage, Fastmarkets understands. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $32.35 per hundredweight ($647 per short ton) on Monday October 12, u...Read More
European buyers of hot-rolled coil continue to hold back from making deals, preferring to watch the market until a global trend emerges, sources told Fastmarkets on Monday October 12. Fastmarkets calculated its daily steel HRC index, domestic, exw Northern Europe at ?,?493.33 ($583.23) per tonne on Monday October 12, down by just ?,?0.17 per tonne from ?,?493.50 per tonne on October 9.The index wa...Read More
Steel slab exports from Russia were unlikely to be significantly affected by an anti-dumping probe started in Mexico in September, because of the lack of domestic production and the rising flat-steel rolling capacities in the country, market sources have told Fastmarkets.The Mexican economy secretariat launched an anti-dumping investigation into imports of steel slab from Russia and Brazil after i...Read More
The domestic steel rebar price in Russia's Central Federal District around Moscow was unchanged in the week to Monday October 12, while local producers are considering new increases for November, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was at 40,000 roubles ($521) per tonne on October 12, including 20% VAT,...Read More
Domestic flat steel prices in Russia's Central Federal District around Moscow were largely flat in a week to Monday October 12, despite producers' bullish attempts to raise prices. Buyers are cautious of further rises in the hot-rolled sheet segment because of slowing downstream demand and sufficient stocks, sources told Fastmarkets on Monday. Hot-rolled sheet Fastmarkets' weekly price assessment...Read More
Turkish steelmakers went through the first working day of the week with no deep-bookings, after the downturn in the prices in last week's deals, sources said on Monday October 12.The steel producers in the country booked three deep-sea cargoes late last week after achieving lower prices.The most recent purchases pitched the price for HMS 1&2 (80:20) grade at $283 per tonne cfr for US material on O...Read More
Domestic ship scrap prices in Turkey have gone down over the past week in line with weakening imported scrap values, but local auto bundle scrap prices were mostly stable, sources said on Monday October 12.In response to the downturn in the costs of imported scrap, the steel producers in the Izmir region - namely ID??, Habas, ?-zkan and Ege ??elik - reduced their buy prices for ship scrap by $5 pe...Read More
Seaborne iron ore prices were down on Monday October 12 following a recent announcement that environmental restrictions would be imposed on steelmakers in Tangshan slightly earlier than last year, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.23 per tonne, down $1.49 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.44 per tonne, down $1.35 per tonne58%...Read More
Seaborne premium hard coking coal prices edged down on Monday October 12, on the news that steel mills in China have been verbally notified to halt imports of Australian coking coal.Fastmarkets indicesPremium hard coking coal, fob DBCT: $131.08 per tonne, down $1.76 per tonne Premium hard coking coal, cfr Jingtang: $140.14 per tonne, down $1.01 per tonneHard coking coal, fob DBCT: $...Read More
European Metal Recycling (EMR) has shut down more of its operations in the United Kingdom due to the Covid-19 pandemic, after announcing closures in March. EMR has closed one site on the south coast of England and one site in Bedfordshire for metal recycling activity, the company told Fastmarkets. The company did not given further details on the location of the sites, although industry sources sug...Read More
Chinese power plants and steel mills have been asked by the authorities to stop importing thermal and coking coal from Australia, sources told Fastmarkets on Monday October 12.Utilities companies and steel mills were verbally notified during the Golden Week holiday (October 1-8) in China to stop importing Australian coal this year with immediate effect, sources said.State-owned steel mil...Read More
Activity in the export pig iron market out of the Commonwealth of Independent States was minimal in the week to Thursday October 8, although market participants reported some small-volume deals.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $346-360 per tonne on Thursday, widening from $350-355 per tonne a week earlier.There were two sale...Read More
China's hot-rolled coil prices surged on Friday October 9, as a result of buyers returning to the market to restock on the first day back after the eight-day Golden Week holiday.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($571-574) per tonne, up 70 yuan per tonne from Wednesday September 30Northern China (Tangshan) - weekly assessment: 3,780-3,830 yuan per tonne, up 60-100 yuan per tonneTr...Read More
China's hot-rolled coil prices continued to rise on Monday October 12 on news that the country's steelmaking hub of Tangshan would restrict steelmaking activity over the next six months.DomesticEastern China (Shanghai): 3,920-3,950 yuan ($585-590) per tonne, up 40-50 yuan per tonne The local government of Tangshan has ordered 28 out of 30 steel mills in the city to reduce their blast furnace opera...Read More