Fastmarkets' Ferrous Analytics report will help subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Analysts at Fastmarkets have been impressed by the persistent strength - and indeed the acceleration - of the raw materials prices identified in this month's Ferrous Analytics report....Read More
Here are five Fastmarkets stories you might have missed on Friday September 11 that are worth another look.Rio Tinto chief executive officer Jean-Sebastien Jacques and iron ore head Chris Salisbury are to step down following criticism over the miner's destruction of sacred Aboriginal caves in Pilbara, Western Australia.The...Read More
Here are five Fastmarkets stories you might have missed on Monday September 14 that are worth another look.Brazilian flat steel producers have announced a price increase of at least 10% on all their products, because of a lack of material at a time of steady demand, Fastmarkets heard on...Read More
Atlantic Nickel, a Brazil-based nickel producer owned by private-equity fund manager Appian Capital Advisory, plans to develop its Santa Rita operation into an underground mine in the next eight years, with an economic feasibility study to be run in 2021.The move would increase production capacity from the current 20,000-25,000 tonnes per year (tpy) in nickel content to 40,000-45,000 tpy, accordin...Read More
Brazilian flat steel producers have announced a price increase of at least 10% on all their products, because of a lack of material at a time of steady demand, Fastmarkets heard on Monday September 14.While most market participants expected increases in the range of 10-13% for October, some have reported price increases of 15%. The latest price changes add to a series of rises that started in July...Read More
Domestic prices for ferrous scrap in Italy have increased month on month in September, with prices moving in line with international market trends, sources told Fastmarkets on Monday September 14.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy, was ?,?220-240 ($261-284) per tonne on September 14, up by ?,?10-15 per tonne month on mont...Read More
Here are five Fastmarkets stories you might have missed on Monday September 14 that are worth another look.Brazilian flat steel producers have announced a price increase of at least 10% on all their products, because of a lack of material at a time of steady demand, Fastmarkets heard on...Read More
China's reserve authority has finally approved fresh stockpiling of cobalt metal, casting some hope for the pandemic-weathered market, especially for cut cathode amid aerospace negativity. In the evening of Wednesday September 9, Chinese cobalt producers successively received invitations from the country's State Reserve Bureau (SRB) informing them to collect the tender document the next day -...Read More
The three-month aluminium price on the London Metal Exchange surpassed nearby resistance at the close of trading on Monday September 14, closing just above $1,800 per tonne after today's fresh cancellation of 41,325 tonnes triggered afternoon buying, while lead futures rose by 1.7% in the US trading session to push beyond $1,900 per tonne. Aluminium's outright price on the LME closed at $1,800.50...Read More
Iron ore prices gained again on Monday September 14, with market sources expecting mills to replenish their iron ore inventory before the Golden Week holiday in October in China, which resulted in active trading at ports and a rise in prices.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $130.17 per tonne, up $1.80 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.22 per tonne, up...Read More
A correction has been issued for this article.The...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Monday September 14, although steelmakers were continuing to seek higher prices, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.45 ($564.32) per tonne on Monday, up by ?,?0.44 per tonne from ?,?476.01 per tonne on September 11.The...Read More
The three-month aluminium price on the London Metal Exchange surpassed nearby resistance at the close of trading on Monday September 14, closing just above $1,800 per tonne after today's fresh cancellation of 41,325 tonnes triggered afternoon buying, while lead futures rose by 1.7% in the US trading session to push beyond $1,900 per tonne. Aluminium's outright price on the LME closed at $1,800.50...Read More
Vedanta Resources will divest its Mount Lyell copper mine in Tasmania, Australia, after aborting a plan to restart the mine due to restrictions related to Covid-19, Australian media reported.The original plan to bring the Queenstown mine back on line from February 2020 has been shelved, with the Indian company deciding last week to put the mine up for sale, Australian Broadcasting Corp (ABC) repor...Read More
The Singapore High Court has published a notice stating that commodities trader ZenRock filed a winding-up application on August 25 this year, while another commodities trader, Hontop, has been put under judicial management.The notice was published in the Singaporean government's electronic Government Gazette on Friday September 11.ZenRock's winding-up application will be heard on September 28, th...Read More
Rio Tinto and Turquoise Hill Resources (TRQ) have signed a memorandum of understanding (MOU) to fund the completion of the Oyu Tolgoi underground copper project in Mongolia, Rio Tinto said on Thursday September 10.The MOU seeks to raise up to $500 million in additional lending from selected international financial institutions. Rio Tinto owns approximately 50.8% of shares in TRQ, which owns a 66%...Read More
The impact of the Covid-19 pandemic on the aluminium industry has led many smelters to diversify their operating strategy and production levels, and Alvance Aluminium's Dunkerque smelter was no exception, its managing director Am?(C)lie Hennion told Fastmarkets.Hennion explained that flexibility was key for the Dunkerque smelter in France and that there was still a high level of market uncertainty...Read More
Barring those for zinc and tin, deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses were little changed in the week to Friday September 11.Zinc stocks declined the most in percentage terms, falling by 21.4% (15,872 tonnes) to 58,453 tonnes as of Friday.Warehousing company Yuqiang in Shanghai saw the largest outflow with 5,432 tonnes of zinc this week, leaving behind 5,9...Read More
Fastmarkets' Ferrous Analytics report will help subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Analysts at Fastmarkets have been impressed by the persistent strength - and indeed the acceleration - of the raw materials prices identified in this month's Ferrous Analytics report....Read More
Export prices for flat steel products from the Commonwealth of Independent States (CIS) increased during the week to Monday September 14 on higher offers, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $505-515 per tonne on Monday, up from $492-505 per tonne one week earlier.Fastmarkets' weekly...Read More