London Metal Exchange prices ended broadly lower on the afternoon of Monday October 18 after rising to new highs during the trading day, while copper spread backwardations reached previously unseen figures.Aluminium's three-month price, for example, reached a new year-to-date peak of $3,229 per tonne during the day but fell to $3,167 per tonne at the 5pm close, a small drop from its closing price...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
Trading activity in the European hot-rolled coil market remained subdued on Monday October 18, with mills and buyers both holding back from trading, sources told Fastmarkets.Sentiment remains gloomy due to the drop in demand from the automotive segment. Auto-industry output - and, consequently, steel demand - has fallen due to a shortage of semiconductors. Market sources reported that mills supply...Read More
Mexican steel producer Altos Hornos de M?(C)xico (Ahmsa) concluded a two-week maintenance at its hot-rolling mill, it said on Monday October 18.The equipment went through ha "full revamp and revision," which will secure its continuous operation, Ahmsa said.During the stoppage, demand for hot-rolled coil was...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
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
Giuseppe Pasini, chairman of Italy's Feralpi Group, one of the leading long steel manufacturers in the European Union, spoke with Fastmarkets' Julia Bolotova about the challenges facing the European steel sector and Feralpi's strategy in light of the EU's ambitious greenhouse emissions reduction goals and global trade restrictions.Energy crisis in EuropeThe recent jump in electricity and gas price...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
Iron ore prices were mostly down a bit on Monday October 18 with limited liquidity amid weak steel demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.32 per tonne,down $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.97 per tonne,down $0.53 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.47 per tonne, up $0.18 per tonne65% Fe Brazil-origin fines,...Read More
Turkish domestic scrap prices have increased during the week to Monday October 18 in line with rising imported scrap values, market participants said.Turkish steelmakers have been paying higher prices for deep-sea scrap in recent weeks due to limited supply and firm demand.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $489.99 per tonne on Mo...Read More
China's domestic rebar prices dropped on Monday October 18 following the release of data by National Bureau of Statistics (NBS) showing a decrease in new housing starts.DomesticEastern China (Shanghai): 5,730-5,770 yuan ($890-896) per tonne, down by 30-40 yuan per tonneThe construction area of newly started houses came to 1.53 billion square meters in the first three quarters of 2021, down by 4.5%...Read More
Silicon sales upward of $5 per lb reported in Mexico and Canada indicate continued upward pressure on prices of the aluminium alloying metal in the United States, which reached another all-time high on Thursday October 14.Fastmarkets assessed the price of silicon, ddp US at $3.35-4.25 per lb on October 14, up by 18.75% from $2.90-3.50 per lb on October 7.This was the fourth week in a row...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
Seaborne coking coal prices increased slightly on Monday October 18. And the number of trucks for transporting Mongolian coal is expected to increase, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.56 per tonne, up by $1.46 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, up by $3.39 per tonnePremium hard coking coal, fob DBCT: $400.30 per tonne, up by $0.6...Read More
Spot prices for hot-rolled coil (HRC) in China retreated on Monday October 18 with the latest economic data sparking concerns over demand.DomesticEastern China (Shanghai) was 5,700-5,800 yuan ($886-901) per tonne, down by 30-60 yuan per tonne.Offers for spot HRC in Shanghai slipped to lows of 5,700-5,720 yuan per tonne on Monday morning, with the most-traded HRC contract on the Shanghai Futures Ex...Read More
Iron ore prices were mostly down a bit on Monday October 18 with limited liquidity amid weak steel demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.32 per tonne,down $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.97 per tonne,down $0.53 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.47 per tonne, up $0.18 per tonne65% Fe Brazil-origin fines,...Read More
Import prices for rebar into Singapore have increased following surges in offers by Turkish steel mills.Turkish steelmakers have increased offers to $770-780 per tonne cfr Singapore on a theoretical weight basis, following the rapid ascent of imported ferrous scrap prices.Middle Eastern producers in the Emirates and Qatar have also offered cargoes to Singapore at $745 per tonne cfr Singapore on a...Read More
The Commonwealth of Independent States' (CIS) billet export prices increased following a couple of Black Sea cargoes reportedly sold to Turkey, sources told Fastmarkets on Monday October 18.A 10,000-tonne cargo from Russia was reportedly sold to Turkey at $650 per tonne fob late last week, several sources told Fastmarkets.Another billet cargo of around 20,000 tonnes was sold from Ukraine to Iskend...Read More