Seaborne coking coal prices declined on Wednesday September 29 amid thin trading; premium hard coking coal prices in both the cfr and fob markets are relatively high, which depressed buying interest in the spot market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $592.89 tonne, down $4.17 per tonneHard coking coal, cfr Jingtang: $534.86 per tonne, down $3.79...Read More
Seaborne iron ore prices moved up slightly on Wednesday September 29 amid restocking activity by steel mills at Chinese ports, but liquidity thinned ahead of the week-long national holidays, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $114.13 per tonne, up $2.07 per tonne62% Fe low-alumina fines, cfr Qingdao: $115.02 per tonne, up $1.57 per tonne58% Fe fines high-grade prem...Read More
Japan's August production and sales of Toyota's new vehicles, including those of its subsidiaries Daihatsu and Hino Motors, fell on a monthly basis amid the severe shortage of semiconductor chips and raw materials, which have disrupted supply chains this year.Toyota's Japan August production of new vehicles fell by 39.3% and 11.4% on a monthly and yearly basis respectively, to 244,342 vehicles. To...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 29.Key driversThe European ferro-titanium and titanium scrap markets were stable in the seven days to September 29, steady for a fourth consecutive week.Suppliers said there are buying inquiries but there have been no deals reported, and offer prices are on hold until renewed demand emerges from consumers in the...Read More
Nickel was almost at a four-month low, while all prices on the London Metal Exchange declined on Wednesday September 29, pushed down by the continued uncertainty over demand given high energy prices and a US Dollar Index that was at its highest since November 2020.The US Dollar Index reached 94.28 on Wednesday, a near-one-year high and a 1.9% increase from 92.50 at the start of September. The...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...Read More
China's power-cut policy has caused disruption in the battery raw materials supply chain and has brought uncertainty to the price of materials like nickel and cobalt, sources told Fastmarkets.The country started introducing power-consumption limits in some provinces in July 2021 due to power shortages following its carbon-reduction policy, and the curbs have been extended into more provinces and h...Read More
The Brazilian steel industry intends to contribute to a reduction in greenhouse-gas (GHG) emissions in order to lower the country's carbon footprint, the steelmakers' association, Instituto A??o Brasil, said on Wednesday September 29.The methods to cut emission will include developing a strong local carbon credit market and moving forward with higher scrap and charcoal usage, as well as improving...Read More
The US nickel briquette price hit a new all-time high; premiums in Asia and Europe remain unchanged. China premiums stable ahead of Chinese National Holidays US briquette hits new all-time high amid extreme shortage European premiums remain flat Shanghai premiums stable ahead of holidays The premiums on nickel cathodes imported into China remained stable in the week to Tuesday September 28,...Read More
Spain-based ferro-alloys producer Ferroglobe has temporarily shut another furnace in the country due to expensive energy prices, according to reports and trade sources on Tuesday September 28.The company, which recently shut a silicon furnace at its Sab??n plant in Spain, has also idled a silico-manganese furnace at its Boo plant in Santander, on the northern coast of the country. Officials a...Read More
Japan's August production and sales of Toyota's new vehicles, including those of its subsidiaries Daihatsu and Hino Motors, fell on a monthly basis amid the severe shortage of semiconductor chips and raw materials, which have disrupted supply chains this year.Toyota's Japan August production of new vehicles fell by 39.3% and 11.4% on a monthly and yearly basis respectively, to 244,342 vehicles. To...Read More
The Brazilian steel industry intends to contribute to a reduction in greenhouse-gas (GHG) emissions in order to lower the country's carbon footprint, the steelmakers' association, Instituto A??o Brasil, said on Wednesday September 29.The methods to cut emission will include developing a strong local carbon credit market and moving forward with higher scrap and charcoal usage, as well as improving...Read More
Prices in the Indian import steel scrap market have dropped in recent days amid continued weak demand in the country, while power shortages are constraining Chinese scrap demand, market sources told Fastmarkets.Weak demand in India continues to pressure pricesChina's restrictions on power usage depress buying interests furtherTaiwan secures containerized scrap cargoes at $465 per tonne cfrIndiaPri...Read More
Base metals prices edged down in morning trading on Wednesday September 29, with weakness in across the complex supported by the rising US Dollar Index, which pushed up to its highest level since November 2020."Copper and most of the other metals [prices fell] on Wednesday, with Asian equities suffering from a global stock sell off," Marex LME desk analyst Anna Stablum said."Wall Street [had its]...Read More
Rebar prices in Shanghai increased on Wednesday September 29 on restocking ahead of the National Day holidays, but demand is expected to drop in areas in north, east and central China on plans to start dust inspections at construction sites from October 1 to March 31, 2022.DomesticEastern China (Shanghai): 5,830-5,870 yuan ($902-908) per tonne, up by 40 yuan per tonneThe Ministry of Ecology and En...Read More
Base metals prices edged down in morning trading on Wednesday September 29, with weakness in across the complex supported by the rising US Dollar Index, which pushed up to its highest level since November 2020."Copper and most of the other metals [prices fell] on Wednesday, with Asian equities suffering from a global stock sell off," Marex LME desk analyst Anna Stablum said."Wall Street [had its]...Read More
Base metals prices were mixed on the morning of Wednesday September 29 while they consolidated against a backdrop of numerous headwinds. Uncertainty has picked up regarding how high US treasury yields and the dollar will go and what will the fallout be if China's Evergrande starts defaulting on foreign-owned debt. China's power rationing set to hit metal production and manufacturing, and in turn s...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Jon Stibbs...Read More
ArcelorMittal has secured a ?,?280 million loan from the European Investment Bank (EIB) for research and innovation to support its decarbonization objectives, the steelmaker said.The loan will enable the company to expand its research and development (R&D) activities significantly in the field of decarbonization as well as related capital expenditure, it said on September 27.Investment spendi...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 29, ahead of the renewal of European Union import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,300-1,330 ($1,519-1,554)per tonne on Wednesday September 29, down from ?,?1,350-1,400 per tonne on Wednesday September 2...Read More