Prices for most metals fell on Monday September 13, except for aluminium, which set a new 13-year high of $3,000 per tonne on Monday.Monday's price drops came after most metals reached year-to-date highs on Friday September 10.Nickel's three-month price was down to $19,870 per tonne on Monday morning, a 2.6% decrease from its closing price of $20,392 per tonne on Friday.The stainless-steel metal r...Read More
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
The recovery of the Brazilian domestic flat steel market appears to have peaked in recent weeks, but it is expected to continue strong through 2022, according to ArcelorMittal Brasil chief executive officer Benjamin Baptista Filho."We saw since last year a very strong recovery of the Brazilian manufacturing activity, especially from the agribusiness sector, and demand for steel rose in a sustained...Read More
China's production and sales of automobiles continued to decline on both a monthly and an annual basis in August 2021, after Covid-19 outbreaks choked the supply chain and cost pressure ramped up, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Friday September 10.For the same month, overall car exports, output and sales figures for new energy vehic...Read More
Major Japanese carmaker Toyota is cutting production by another 400,000 units globally in September and October due to a "shortage of certain parts" caused by Covid-19 in Southeast Asia, it said last Friday September 10.The cut includes 70,000 units in September, of which 40,000 units are overseas and 30,000 units are in Japan.In October, it will reduce production by 330,000 units - 150,000 units...Read More
Base metals prices on the London Metal Exchange were lower across the board at 5pm on Monday September 13, after coal prices continued to trade downward and strength was seen in the US dollar.The US Dollar Index reached a high of 92.89 on Monday, the highest level seen for more than two weeks and shoring up the current weakness across the base metals complex.The three-month nickel price came under...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
China's leading copper producer, Jiangxi Copper, will develop the Mes Aynak copper mine in Afghanistan with Metallurgical Corp of China (MCC) when conditions allow, the company said.Due to the unstable situation in Afghanistan, there has not yet been any substantial construction at the mine, but the two companies are monitoring the situation and will push forward with the project when they...Read More
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
The latest data for the global manganese ore market for the week ended September 13, 2021.Read More
Turkish deep-sea scrap import prices fell sharply on the news of a fresh booking for October shipment, market participants told Fastmarkets on Monday September 13.A steel mill in the Marmara region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $436 per tonne and 8,000 tonnes of shredded at $451.50 per tonne cfr late on Friday September 10.Earlier on Friday, a booking from the B...Read More
Steelmakers in Bangladesh returned to the market for imports of bulk steel scrap cargoes in the week ended Friday September 10 despite very high freight costs, sources told Fastmarkets.Bangladesh removed its Covid-19-related lockdown in early August 2020, leading to a re-opening of the steel retail markets and easing the movement of scrap across the country.The decision also allowed induction furn...Read More
Key data from Fastmarkets' pricing session in China on Friday September 10.Key driversChina's cobalt metal price moved up amid continuous rising local futures prices and tight spot supply among sellers. Some buyers restocked small-volume materials, but others remained cautious.The cobalt tetroxide price increased further, with most producers insisting...Read More
China's nickel sulfate prices softened in the week to Friday September 10 amid an increase in the supply of mixed hydroxide precipitate (MHP), though strong nickel prices on both the London Metal Exchange and Shanghai Futures Exchange kept the spot market quiet.Fastmarkets assessed prices for nickel sulfate min 21%, max 22.5%; cobalt 10ppm max, exw China at 36,500-38,000 yuan ($5,663-5,896) per to...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
Turkish deep-sea scrap import prices fell sharply on the news of a fresh booking for October shipment, market participants told Fastmarkets on Monday September 13.A steel mill in the Marmara region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $436 per tonne and 8,000 tonnes of shredded at $451.50 per tonne cfr late on Friday September 10.Earlier on Friday, a booking from the B...Read More
The Brazilian domestic price for steel rebar was unchanged in September, with producers and buyers in a tug of war amid a global downturn and efforts to prevent oversupply in the market.Fastmarkets' price assessment for steel reinforcing bar (rebar) domestic, monthly, delivered Brazil held at 5,100-5,310 Reais ($972-1,012) per tonne on Friday September 10, compared with August 13, when it fell to...Read More