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
Spot prices for hot-rolled coil in China gained some strength on Tuesday September 28, with futures rising for a second day amid a drop in production due to a power crunch in the country.DomesticEastern China (Shanghai): 5,720-5,750 yuan ($886-890) per tonne, narrowed upward by 20 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange rose for a second day, recovering some of...Read More
Chinese demand for steel billet imports has fallen away in recent days, amid mounting concerns over China's property market and the potential for power shortages across the country, sources told Fastmarkets on Tuesday September 28.Some market participants fear that the debt crisis engulfing major property developer Evergrande could have a wider knock-on effect on the Chinese construction sector, w...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 i...Read More
Seaborne cfr prices improved on Tuesday September 28 due to tight seaborne coking coal supply in the cfr spot market and active trading in China's ports, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $597.06 per tonne, up $2.50 per tonneHard coking coal, cfr Jingtang: $538.65 per tonne, up $8.83 per tonnePremium hard coking coal, fob DBCT: $405.14 per tonne, d...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
(Updates number of rescued workers) Sept 28 (Reuters) - Vale SA said on Tuesday that35 of its employees who were trapped in a Canadian mine hadreturned to the surface and four more were on their way out.On Monday, the Brazilian miner said 39 mine workers had beentrapped underground since Sunday at its Totten mine in Sudbury,Canada. Vale said earlier on Tuesday it expected all employees tosurface b...Read More
Australian miner AVZ Minerals Limited has signed a transaction implementation agreement with China's Suzhou CATH Energy Technologies to jointly develop the Manono Lithium and Tin Project in the Democratic Republic of Congo (DRC), the Australian miner said on Monday September 27.CATH is a private investment entity jointly owned by Contemporary Amperex Technology (CATL) and Shenzhen-listed Suzhou TA...Read More
Here are five Fastmarkets stories you might have missed on Monday September 27 that are worth another look.Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.For aluminium market participants...Read More
Seaborne coking coal cfr prices decreased on Monday September 27 due to market participants' expectations of lower demand in the coming months.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $594.56 per tonne, down $6.26 per tonneHard coking coal, cfr Jingtang: $529.82 per tonne, down $45.41 per tonnePremium hard coking coal, fob DBCT: $406.07 per tonne, up $0.08 per tonneHard coking co...Read More
Seaborne iron ore prices increased on Monday September 27 because pre-holiday restocking activities at China's ports boosted market sentiment after price declines in the past two weeks.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.31 per tonne, up $7.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.10 per tonne, up $7.32 per tonne58% Fe fines high-grade premium, cfr Qingdao: $...Read More
Here are five Fastmarkets stories you might have missed on Monday September 27 that are worth another look.Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.For aluminium market participants...Read More
Copper smelters and fabricators in some Chinese provinces are facing limits on power usage. The impact on production has been limited so far, but the threat may grow once winter arrives.China started introducing power-consumption limits in some provinces in July this year due to power shortages. The curbs have been extended recently into a larger area of the country, including Jiangsu, Shandong an...Read More
European producers have been more active with export offers of hot-rolled coil to Turkey in the second half of September in an attempt to keep domestic supply volumes under control, sources told Fastmarkets.Offers for commodity-grade November-shipment HRC from Northern European producers have been heard at $950-970 per tonne cfr Turkish ports. This is substantially lower than domestic prices in Eu...Read More
Fastmarkets proposes changes to the name and specifications of its UG2 chrome ore price index.Fastmarkets proposes to change the specification for its chrome ore South Africa UG2 concentrates index basis 42%, cif China to include MG material and to amend some qualities, including to clarify a base chrome iron ratio and to implement a normalization process to meet this base level. Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Monday September 27 that are worth another look.Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.For aluminium market participants...Read More
Fastmarkets proposes changes to the name and specifications of its UG2 chrome ore price index.Fastmarkets proposes to change the specification for its chrome ore South Africa UG2 concentrates index basis 42%, cif China to include MG material and to amend some qualities, including to clarify a base chrome iron ratio and to implement a normalization process to meet this base level. Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Monday September 27 that are worth another look.Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.For aluminium market participants...Read More
Base metals prices were mainly lower on the London Metal Exchange and mixed on the Shanghai Futures Exchange on Monday September 27, while the broader markets looked more positive.Higher oil prices are adding to inflationary concerns......US 10-year treasuries yields rise to levels not seen since JulyBase metalsThree-month base metals prices on the LME were mainly weaker this morning, with the exc...Read More
Seaborne iron ore prices increased on Monday September 27 because pre-holiday restocking activities at China's ports boosted market sentiment after price declines in the past two weeks.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.31 per tonne, up $7.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.10 per tonne, up $7.32 per tonne58% Fe fines high-grade premium, cfr Qingdao: $...Read More