Iron ore prices were largely stable on Wednesday October 6 amid low liquidity in both the physical and futures markets during the Chinese Golden Week holidays, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $116.71 per tonne, up $0.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.63 per tonne, up $0.29 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.31 per to...Read More
Significantly rising energy prices have forced European steelmakers to look for ways to compensate for surging production costs, but mills lack a unified approach to the problem; some are introducing energy surcharges while others prefer to focus on raising the price of steel, sources told Fastmarkets on the sidelines of the Made in Steel 2021 trade fair in Milan, Italy.In October, prices for gas...Read More
Turkey's steel and industrial gas producer Habas is planning to start hybrid vehicle production at a former Honda plant, according to a report seen by Fastmarkets.Honda terminated vehicle production in its plant in Kocaeli, Turkey, in September 2021. Habas is in touch with almost 30 engineering companies to start hybrid...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 6.Key driversEuropean ferro-titanium and titanium scrap markets extended their steady trend for a fifth consecutive week, with suppliers holding offer prices against expected renewed demand from steel mills.Deals were reported within current price ranges, but the bulk of expected renewed quarterly demand from steel mills for...Read More
Activity remained slow in the European hot-rolled coil market on Tuesday October 5, with buyers and producers holding back from making deals, sources told Fastmarkets. Buyers have sufficient stocks to cover their needs for a couple of months, according to estimations from market sources. Sentiment among buyers has been largely bearish due to reduced demand from the automotive sector, declining imp...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More
Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The Cabinet of Ministers of Ukraine published a draft decree on September 30, which suggests banning the export of ferrous scrap outside Ukraine until the end of 2022.In July 2021, the country's national steel union Ukrmetallurgprom called for a ban on scrap metal exports after export volumes of the...Read More
Turkish deep-sea scrap import markets remained subdued on the second working day of the week, with both mills and suppliers quiet, market participants said on Tuesday October 5.The most recent deal heard was late on Friday October 1, when a steel mill in the Iskenderun region booked a European cargo comprising 5,000 tonnes of heavy melting scrap 1&2 (80:20) at $440 per tonne, and 3,000 tonnes of s...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday October 5, while markets consolidated recent gains. But volumes have been light with Chinese participants absent due to the weeklong National Day holiday (October 1-7).Asia-Pacific equities weaker this morning as they followed Monday's weakness in the United States.Brent crude oil price back above $81 per...Read More
Decarbonizing the shipping industry is likely to be tougher than efforts to remove its sulfur emissions, according to an executive at Oldendorff Carriers GmbH & Co.The shipping company's director of business development and strategy told a webinar that efforts by the International Maritime Organization (IMO) requiring the marine sector to cut sulfur emissions by more than 80% had been much more su...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More
Peru's base metals production largely rose in August versus the same month last year, the exception being zinc with output falling amid lower mined ore grades, according to data published by the ministry of energy and mines, Minem, on Monday October 4.Peruvian copper production totaled 202,942 tonnes in August, up by 4.63% from 193,965 tonnes in the same month last year. In January-August, ou...Read More
BHP will supply nickel sulfate to a battery making joint venture between Toyota Motor Corp and Panasonic Corp in a move designed to lower carbon emissions in the Japanese battery supply chain. The company said its Nickel West plant in Western Australia will supply the nickel sulfate to Prime Planet Energy & Solutions (PPES), one of Japan's leading lithium-ion battery producers. The batteries will...Read More
Flat-rolled steel import prices to the United Arab Emirates and Saudi Arabia decreased further during the week ended Tuesday October 5 and buyers preferred to refrain from booking until prices stop falling.End-user demand was still weak in both countries and stock levels were enough for the time being, sources said.Saudi ArabiaIndia offered hot-rolled coil at $930-940 per tonne cfr, down from...Read More
The latest data for the global manganese ore market for the week toOctober 3 2021.Read More
The challenges with container shipping, including port congestion and supply chain disruptions, are likely to continue for some time, according to an executive at shipping company Oldendorff Carriers GmbH & Co.Scott Bergeron said that while Oldendorff is a dry bulk cargo shipping firm, it was receiving a surprising number of enquiries from traditional container shipping cargo owners asking for hel...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday October 5 and their latest price moves.Europe The high-carbon ferro-chrome markets continued to set new highs in response to tight supply and strong demand for material.Rising electricity prices faced by producers have added further support to offer prices.The lower end of the ranges were set by trader...Read More
The heads of companies representing one-third of the world's mining and metals industry have signed a letter committing to a goal of net-zero Scope 1 and 2 greenhouse gas (GHG) emissions by 2050 or sooner, in line with the ambitions of the Paris Agreement.Twenty-eight companies, including Anglo American, BHP, Glencore, Rio Tinto and Vale, made a collective commitment as members of the Internationa...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More