Exporters of billet from the Commonwealth of Independent States aggressively increased offers on October 19, although no sales were heard at the higher levels.Fastmarkets' calculation of its daily steel billet index export, fob Black Sea, CIS was $650 per tonne on October 19, up by $1 per tonne...Read More
From supply chain disruptions to London Metal Exchange spreads, aluminium market participants discussed a wide variety of topics during LME Week, and what they could mean for the market in the months ahead.Fastmarkets breaks down the winners and losers across the various topics discussed during the week of October 11-15.Embedded supply chains - winnersWhile costs along the supply chain continue to...Read More
Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.The US automotive manufacturer expects power unit production to begin in mid-2024, with capacity planned to be around 250,000 units per year, it said in a release on Monday October 18.This vehicle transmission facility, which currently builds transmissions for several...Read More
The London Metal Exchange has imposed a series of temporary measures to maintain an orderly copper market after wild outright and spread price moves and dwindling inventories in recent days, the exchange said.In a notice to members, the LME said its Special Committee had been monitoring the ongoing tightness in the copper market, with exchange inventories falling and nearby carries tightening. The...Read More
Base metals prices were down across the board on both the London Metal Exchange and Shanghai Futures Exchange this morning, Wednesday October 20, with relatively high volume being seen on the LME.* After the upward spikes in LME cash prices, ahead of the October prime data, it is perhaps not surprising a reality check is underway...* ...but once again let us see how far the pullback goes.* Broader...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 assessed Cobalt...Read More
A summary of the operational results for Russian steelmaker Severstal for the third quarter (July-September) of 2021In brief Steel sales were up by 1% quarter on quarter to 2.69 million tonnes due to strong sales of pig iron and slabs. Sales of hot-rolled steel and plate increased by 1% quarter on quarter to 1.12 million tonnes. The total share of export sales volume, including sales of pig iron,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 19 that are worth another look.Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
Steel rebar and billet buyers in the United Arab Emirates were waiting for new local rebar prices to be announced in the week ended Tuesday October 19; they expect a price increase of around $30 per tonne, sources told Fastmarkets.Rebar producers normally announce new prices fortnightly in the UAE, but they have not made any changes since September 29.Domestic rebarRebar producers in the UAE sold...Read More
Steel rebar and billet buyers in the United Arab Emirates were waiting for new local rebar prices to be announced in the week ended Tuesday October 19; they expect a price increase of around $30 per tonne, sources told Fastmarkets.Rebar producers normally announce new prices fortnightly in the UAE, but they have not made any changes since September 29.Domestic rebarRebar producers in the UAE sold...Read More
Seaborne coking coal prices were relatively stable on Tuesday October 19, with no trading activity heard. And the seaborne premium fob price will likely remain steady for the rest of the year, several sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, down by $0.44 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, unchangedPremium hard coking coal,...Read More
German steelmakers have settled their monthly steel scrap contracts for October at fairly stable prices, sources told Fastmarkets on Tuesday October 19.Deals settled at the beginning of the month were at stable prices or, in some cases, slightly lower. By the middle of October, however, after international scrap prices rebounded, German suppliers refused to accept lower prices. This meant that mil...Read More
Seaborne iron ore prices inched lower on Tuesday October 19 because market participants adopted a weak outlook for iron ore demand after more news of steel production cuts in south China's Jiangsu province and iron ore logistics disruptions in north China's Tangshan, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.04 per tonne, down $0.28 per tonne62% Fe low-alumina...Read More
Argentinian aluminium producer Aluar will resume a quarter of its production capacity that has been restricted since the beginning of the Covid-19 pandemic after the federal government guaranteed power supply at lower costs, the company and the government said jointly on Wednesday October 13.That will amount to 106,000 tonnes of aluminium and result in 600 new direct and indirect jobs, they said....Read More
The latest data for the global manganese ore market for the week to October 18, 2021.Read More
Seaborne low- and high-grade manganese ore markets hit half-year highs in the week to Friday October 18 due to strong sentiment stemming from good Chinese demand amid rising portside markets.Low-grade achieves higher prices South African producers offered semi-carbonate for November shipment at higher prices after the Golden Week holiday (October 1-7).Fastmarkets' calculated the manganese ore inde...Read More
Manganese ore prices at Chinese ports rose markedly in the week to Friday October 15 amid an improved demand outlook and easing production headwinds in some major alloy-producing regions.The price differential between low-grade and high-grade manganese ore grew to 8.50 yuan ($1.32) per dry metric tonne unit (dmtu) on Friday, the widest since Fastmarkets started assessing the markets in January 201...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said onMonday October 18 ."Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of [approximately] $13.5 billion (1.5 trillion yen) set aside for investm...Read More