Bahrain Steel is to convert 2 million tonnes per year of iron ore from the Minas-Rio mine in Brazil into high-quality pellet for multinational mining company Anglo American.Under the three-year agreement, Anglo American will ship 2 million tpy of iron ore (pellet feed) from its Minas-Rio mine in...Read More
Turkish steel mills continued to pay higher prices for deep-sea scrap, with news of a deal for US scrap from Friday pushing up prices on Monday October 25, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (80:20) at $510 per tonne and shredded at $530 per tonne cfr late on Friday October 22. The cargo composition,...Read More
A combination of hurdles to a recovery of demand, elevated freight rates and lower supply have capped premiums for aluminium billet in Thailand for the second time in three months.Buyers continue to report a shortage of supply from producers in the market, though few were actively negotiating for cargoes. Fastmarkets' monthly assessment of the aluminium 6063 extrusion billet premium, cif Thailand...Read More
China's domestic rebar prices recovered some losses on Monday October 25 after debt-ridden developer Evergrande Group announced a resumption of its construction projects in several Chinese cities.Domestic Eastern China (Shanghai): 5,350-5,400 yuan ($838-846) per tonne, up by 50 yuan per tonneEvergrande, one of the largest property developer in China, is preparing to resume the construction of a do...Read More
Spot prices for hot-rolled coil in China were stable on Monday October 25, with thin liquidity and volatile prices keeping buyers in wait-and-see mode, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,550-5,600 yuan ($870-877) per tonne, unchangedThe most-traded HRC contract on the Shanghai Futures Exchange resumed its decline on Monday, finishing the day at 5,180 yuan per tonne, which...Read More
Seaborne iron ore prices were largely stable on Monday October 25, but market sentiment was weak due to poor iron ore and steel demand outlooks, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.08 per tonne,down $0.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.48 per tonne,down $0.41 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.97 per tonne,do...Read More
Turkish domestic scrap prices continued to rise over the past week amid rising imported scrap values, market sources told Fastmarkets on Monday October 25.And Turkish steelmakers continued their deep-sea scrap bookings from last week despite increasing prices.Steel producers in the country booked five deep-sea cargoes in the week to Friday October 22.In response to the upward movement in the impor...Read More
Seaborne coking coal prices were relatively stable across the board on Monday October 25, with no transactions heard, sources told Fastmarkets - although some Chinese coke producers proposed price hikes and Shanxi province unveiled its winter restrictions plan.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $615.14 per tonne, down $0.26 per tonneHard coking coal, cfr Jingtang: $568.59 p...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
Spain-based ferro-alloys producer Ferroglobe has restarted one of the silicon metal furnaces at its Sabon plant in Galicia, with the company looking to take advantage of record high metals prices, sources in Europe told Fastmarkets.Only one furnace at the Sabon plant has been restarted, the sources said, after the company shut production there a few weeks ago due to a spike in power prices in Spai...Read More
Key data from Fastmarkets' pricing session in China on Friday October 22. Key drivers Antimony prices in China were stable last week in a slow spot market, with most participants opting to stay on the sidelines amid diverging market sentiment. Some participants were optimistic toward the market in the...Read More
The latest data for the global manganese ore market for the week ended Monday October 25.Read More
Here are five Fastmarkets stories you might have missed on Friday October 22 that are worth another look.Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Vale...Read More
Here are five Fastmarkets stories you might have missed on Friday October 22 that are worth another look.Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Vale...Read More
Russia's Metalloinvest plans to construct the world's biggest hot-briquetted iron (HBI) facility, to help speed up the transition to green steel production, the company said this week.Technology provider Midrex Technologies and engineering company Primetals will supply the new HBI Plant (HBI-4) at Lebedinsky GOK (LGOK), Metalloinvest said. The plant will be built at Gubkin in west Russia, and will...Read More
Here are five Fastmarkets stories you might have missed on Friday October 22 that are worth another look.Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Vale...Read More
Here are five Fastmarkets stories you might have missed on Friday October 22 that are worth another look.Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Vale...Read More
U.S. equity index futures were higher this morning. S&P 400 futures were up 7 points in pre-opening trade.Bausch Health gained US$0.41 to $29.13 after receiving FDA approval for XipereRestaurant Brands International added $0.47 to Cdn$76.59 after reporting higher than consensus third quarter earnings. Alibaba slipped $0.40 to $174.00 after Truist lowered its target price from $260 to $230.Cela...Read More
Mexico's Altos Hornos de M?(C)xico (Ahmsa) is considering seeking Chapter 11 bankruptcy protection for its Minera del Norte thermal coal subsidiary, after a Mexican commission canceled state supply contracts, the company said on Thursday October 21.Minera del Norte - also known as Minosa - is a wholly-owned subsidiary of the Mexican steelmaker and has the capacity to produce 6.6 million tonnes per...Read More