Domestic prices for hot-rolled coil continued to decline across Europe on Wednesday September 22, mainly due to weak demand from the automotive sector and spot buyers holding sufficient stocks, sources told Fastmarkets.The reduced consumption by car manufacturers was a result of the global shortage of semiconductor chips for onboard electronics, with some volumes of flat steel being redirected to...Read More
Brazilian iron ore and base metals producer Vale will have a new chief financial officer from November 1, because current CFO Luciano Siani Pires has been nominated to become the company's vice president of strategy and business transformation, it said on Tuesday September 21.Siani has held the role of CFO for nine years. His replacement will be Gustavo Pimenta, currently CFO at United States-base...Read More
In China, ferro-chrome output was slow with continuing electricity outages in Inner Mongolia as well as energy-related production curbs in the southern regions.Production disruptions have resulted in many smelters' failure to fulfill their long-term contracts, a couple of whom began to look for material in the spot market, sources told Fastmarkets. "Electricity limitations in September proved to b...Read More
Low-carbon wire rod prices in the United States rose by $30 per short ton ($2.50 per cwt) in September, to fresh record highs for both domestic and import product.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $57.50-60.50 per hundredweight ($1,150-1,210 per ton) on Tuesday September 21, up by 2.61% from $56-59 per cwt on August 1...Read More
Domestic prices for cold-rolled coil in Europe moved down in the week to Wednesday September 22, due to reduced demand from the car industry, sources have told Fastmarkets.Car manufacturers in the EU were likely to consume fewer flat steel products than previously expected because of the global shortage of semiconductor chips for vehicles' onboard electronics.As a result, some volumes that origina...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 22, with feedstock costs continuing to fall ahead of the renewal of European import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe, was ?,?1,350-1,400 ($1,583-1,642) per tonne on Wednesday September 22, down from ?,?1,400-1,430 per...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed to decarbonize the shipping industry.The call to action was signed by more than 150 industry leaders and organizations representing the entire maritime value chain, including shipping, cargo, energy, finance, ports and infr...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 22.Janie Davies and Cristina...Read More
Base metals prices on the LME were mainly rebounding on Wednesday September 22, after dip buyers took advantage of Tuesday's price weakness, while metals in Shanghai were mixed but mainly down in response to the downturn in London this week.Risk-off sentiment eased slightly as Chinese property giant Evergrande said it would pay some of the interest on its bonds, due Thursday, but the market is als...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 22.Janie Davies and Cristina...Read More
Brazilian iron ore and base metals producer Vale will have a new chief financial officer from November 1, because current CFO Luciano Siani Pires has been nominated to become the company's vice president of strategy and business transformation, it said on Tuesday September 21.Siani has held the role of CFO for nine years. His replacement will be Gustavo Pimenta, currently CFO at United States-base...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 22.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
Limited choice as China resumed business on Wednesday September 22, led to Fastmarkets' index for premium hard coking coal, cfr Jingtang reaching a record high of $600.82 per tonne, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.82 per tonne, up $35.05 per tonneHard coking coal, cfr Jingtang: $555.05 per tonne, up $63.08 per tonnePremium hard coking coal, fob DBCT: $...Read More
Brazilian iron ore and base metals producer Vale will have a new chief financial officer from November 1, because current CFO Luciano Siani Pires has been nominated to become the company's vice president of strategy and business transformation, it said on Tuesday September 21.Siani has held the role of CFO for nine years. His replacement will be Gustavo Pimenta, currently CFO at United States-base...Read More
Seaborne iron ore prices rose sharply on Wednesday September 22 amid firmer prices traded on front-month swaps and on Chinese futures, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $108.70 per tonne, up $15.67 per tonne62% Fe low-alumina fines, cfr Qingdao: $110.65 per tonne, up $16.69 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.25 per tonne, up $11.38 per tonn...Read More