Exporters of steel slab from the Commonwealth of Independent States (CIS) managed to strengthen their positions further in mid-August by signing several contracts with traditional customers at higher prices.The continuing positive trend in the finished flat steel products sector, both in customers' markets and in the CIS region, as well as the reduced availability of slab, were the main reasons fo...Read More
The domestic steel rebar price in Brazil increased for the second consecutive month in August, after steelmakers' attempts to raise it in July were successful, market participants said.Fastmarkets' monthly assessment of steel reinforcing bar (rebar) domestic, delivered Brazil was 2,510-2,620 Reais ($463-483) per tonne on Friday August 14, up from 2,410-2,530 Reais per tonne on July 10.As well as r...Read More
China's auto producers scaled back their output in July and sold fewer cars in comparison with a month earlier, the China Association of Automobile Manufacturers (CAAM) reported last week.The country produced 2.20 million vehicles last month, down by 5.3% from June. Its auto sales amounted to 2.11 million units, down by 8.2% month on month, CAAM said.But despite the month-on-month drops, China's a...Read More
The board of directors of Brazil-based miner Vale has approve a project to expand capacity in the miner's Serra Sul iron ore site, in the country's northern Caraj??s region, by 20 million tonnes to 120 million tonnes per year. The Serra Sul 120 project will expand the production capacity of Vale's S11D mine and plant, which is the main unit in the Caraj??s region, with start-up expected to the fir...Read More
Liberty Steel Group, part of the GFG Alliance, is to buy French steel rail business Hayange and the Ascoval steelworks. Liberty Steel Group has committed to providing an initial ?,?65 million ($76.83 million) in new financing for Hayange and Ascoval to enact its industrial plan. Further details of development plans for the sites will be announced in due course, Liberty Steel said on Friday August...Read More
China's crude steel, hot metal and finished steel output hit a record high in July, according to data released by the country's National Bureau of Statistics (NBS) on Friday August 14.July outputCrude steel: 93.36 million tonnes, up by 9.1% from a year earlier, up by 1.9% from JuneHot metal: 78.18 million tonnes, up 8.8% year on year, up by 2% month on month Finished steel: 116.89 million tonnes,...Read More
Here are five Fastmarkets stories you might have missed on Monday August 17 that are worth another look.The board of directors of Brazil-based miner Vale has approved a project to expand capacity in the miner's Serra Sul iron ore site, in the country's northern Caraj??s region, by 20 million...Read More
Flat steel prices in the Brazilian domestic market have increased in August because of recovering steel demand and high import prices, with further price rises to be imposed next month, Fastmarkets heard on Monday August 17.Producers have fully applied the previously announced price increases for flat steel products, and market participants believed that steelmakers will succeed in applying a furt...Read More
The three-month zinc price on the London Metal Exchange settled firmly above nearby support levels at the close of trading on Monday August 17 after an afternoon of strong buying, while the largest tin inflow of the year prompted the metal's outright price tumble. Zinc's underlying price on the LME closed at $2,442 per tonne on Monday afternoon, climbing from an intraday low of $2,364 per tonne, w...Read More
Exporters of steel slab from the Commonwealth of Independent States (CIS) managed to strengthen their positions further in mid-August by signing several contracts with traditional customers at higher prices.The continuing positive trend in the finished flat steel products sector, both in customers' markets and in the CIS region, as well as the reduced availability of slab, were the main reasons fo...Read More
Here are five Fastmarkets stories you might have missed on Monday August 17 that are worth another look.The board of directors of Brazil-based miner Vale has approved a project to expand capacity in the miner's Serra Sul iron ore site, in the country's northern Caraj??s region, by 20 million...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
The London Metal Exchange is looking for ways to boost its options market, which has been struggling for some years to replicate the growth seen in the same sector among its peers.The exchange has launched a consultation, scheduled to end on July 29, on developing electronic options via a new trading platform while retaining its current inter-office options trading structure.Items up for discussio...Read More
Chinese lithium producer Tianqi has announced that company president Vivian Wu submitted a written letter of resignation on August 12, according to a filing to the Shenzhen stock exchange on Friday August 14.Wu's term of office was scheduled to end in 2023. She cited "personal reasons" for her decision.Tianqi chairman Jiang...Read More
The three-month zinc price on the London Metal Exchange settled firmly above nearby support levels at the close of trading on Monday August 17 after an afternoon of strong buying, while the largest tin inflow of the year prompted the metal's outright price tumble. Zinc's underlying price on the LME closed at $2,442 per tonne on Monday afternoon, climbing from an intraday low of $2,364 per tonne, w...Read More
Iron ore fines prices held steady in the physical market on active trading on Monday August 17, largely due to low mid-grade fines port inventories in China and despite a decrease in Dalian Commodity Exchange futures values, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.44 per tonne, down $0.50 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.50 pe...Read More
Metal prices were mostly firmer on both the London Metals Exchange and the Shanghai Futures Exchange on Monday August 17, the exception was the SHFE September aluminium contract that was down by 0.3% while the rest of the metals on both exchanges were up by an average of 1.1%. United States/China trade talks over the weekend were postponed. Japan's preliminary gross domestic product fell by 7.8%...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view. We also review our price forecasting accuracy for the second quarter 2020.Q2 2020 price forecast performance review According to the results of Fastmarkets' Apex for the second quarter of 2020 published this week, Fastmarkets' base metals research team was the second most accurate price forecaster for nickel (99.06%), lead...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Comfortable consolidationAluminium appears comfortable consolidating for the moment, and this will leave prices in a stronger position to challenge overhanging long-term trend-line resistance from the May 2018 high, which stands at $1,670 per tonne currently.Copper: Consolidation unlikely to lastCopper reached its...Read More