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
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 29.Janie Davies in London;...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
Next Tech Talk report is scheduled to be released on Monday October 4thPre-opening Comments for Thursday September 30thU.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 7:00 AM EDTU.S. equity index futures were waiting for release of an updated annualized second quarter real GDP growth report at 8:30 AM EDT. Consensus is unchanged from the previous estima...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
Swedish special steel producer Ovako is to introduce a "climate surcharge" to support initiatives and new technology investments as its production goes carbon-neutral from January 2022, the producer announced on Tuesday September 28.The company says it has reduced carbon emissions significantly through efficient processes, the use of fossil-free electricity and dedicated investments such as conver...Read More
Pessimistic buyers caused the downtrend in the export market for flat steel products from the Commonwealth of Independent States downtrend to continue in the week to Monday September 27.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $830-855 per tonne on Monday, down by $10 from $840-865 per tonne a week before."Buyers think that offers will go lower...Read More
Poor sentiment persisted in the European hot-rolled coil market on Tuesday September 28 due to reduced demand from automakers, sufficient distributor stocks and high import volumes in ports, sources told Fastmarkets.Spot buyers have been refraining from making new deals; they anticipate that domestic prices will continue to decrease. Buyer stocks remain sufficient, allowing them to pause purchases...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 28 that are worth another look.The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a...Read More
Further reductions in Chinese steel mill operations due to ongoing power shortages are likely to hamper demand for imported semi-finished steel and steel scrap in the country, sources told Fastmarkets this week.Draconian restrictions on power supplies in China have led to a raft of electric arc furnace (EAF) steelmakers and re-rollers in key provinces such as Jiangsu, Yunnan and Zhejiang to either...Read More
After a one-month consultation that ended on Sunday September 26, Fastmarkets will increase the pricing frequency for its spodumene assessment to fortnightly from monthly on Thursday September 30.The first fortnightly price assessment for spodumene 6% Li2O min, cif China, which was priced at a monthly basis, will take place on September 30, followed by October 14, October 28, and so on. The increa...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 28 and their latest price moves.China Imported charge chrome prices continued to rise strongly; consumers who needed spot material in the tight market accepted higher offers.Spot ferro-chrome prices surged in the past week amid strict electricity controls in major production hubs, which tight...Read More
Automotive manufacturer Ford Motor Co plans to spend $11.4 billion on new production sites in the United States for electric vehicles (EVs) and their batteries as part of its push to bring zero-emission auto production to the country.One site will be in Stanton, Tennessee, where the company will build electric versions of its F-Series pickup truck as well as advanced batteries. To be known as Blue...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 28 that are worth another look.The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a...Read More
The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a country heavily reliant on hydroelectric power generation.A drought has reduced water reservoirs in Brazil, mainly in southeastern and midwestern states, leading to an electricity cost spike and fears of blackouts or even mandatory power rationing t...Read More
Fastmarkets proposes to liberalize the criteria for deals to be included in the calculations for the steel scrap month-to-date deal weighted average price, cfr Turkey.Currently, Fastmarkets' steel scrap, HMS 1&2 (80:20 mix), month-to-date deal-weighted average, North Europe origin, cfr Turkey only includes deals that are classified as confirmed, which means that at least the buyer or the sell...Read More
Copper concentrates shipment from MMG's Las Bambas mine in Peru will be delayed after operations were disrupted by a community blockade, the company said at a regulatory filing on Monday September 27.The Australian-Chinese miner said in a notice to Hong Kong Stock Exchange that its mining supply could not be transported due to community protests in...Read More
Copper concentrates shipment from MMG's Las Bambas mine in Peru will be delayed after operations were disrupted by a community blockade, the company said at a regulatory filing on Monday September 27.The Australian-Chinese miner said in a notice to Hong Kong Stock Exchange that its mining supply could not be transported due to community protests in...Read More
Fastmarkets is planning to delay the starting date of proposed amendments of its lithium price assessments, including the frequency of two battery-grade seaborne Asian lithium prices and amendments to the names and specifications of all its lithium hydroxide prices.In a Pricing Notice on Tuesday July 27, Fastmarkets proposed to increase the frequency of its battery-grade seaborne Asian lithium car...Read More
Base metals prices were mainly lower across both the London Metal Exchange and the Shanghai Futures Exchange on Tuesday September 28, the exception was LME copper. Oil prices extend gains; spot Brent crude approaching $80 per barrel. US 10-year treasuries yields push through 1.5%.Base metalsThe three-month copper price on the LME was up by 0.3% at $9,376.50 per tonne and seemed buoyant this morni...Read More