Turkish steel mills have resumed their deep-sea scrap bookings at fairly stable prices after a short break, market participants told Fastmarkets on Tuesday September 7.Three steel producers booked four deep-sea cargoes from various locations.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 27,000 tonnes of shredded at $460 per...Read More
Excess supplies of rebar in Russia's Central Federal District around Moscow led to a decline in prices in the week to Monday September 6, after domestic producers that usually trade elsewhere redirected supplies to the country's key steel-consuming region.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 58,000-62,000 roubles ($795-850) per t...Read More
Fastmarkets' price index for domestic steel hot-rolled coil in Northern Europe went down day on day on Tuesday September 7 with the outlook among buyers turning negative, Fastmarkets has heard.Buyers have been holding back from trading because they wanted to take time to monitor the price trend. They expected that volumes of coil products available in the spot market would increase due to poor dem...Read More
The downturn in prices for flat steel imports to the United Arab Emirates and Saudi Arabia has made buyers refrain from bookings because of their uncertainty about the market during the week ending Tuesday September 7, sources told Fastmarkets.Buyers wanted to see prices hit a market bottom before placing more orders.Saudi ArabiaChina was offering hot-rolled coil at $1,020-1,040 per tonne cfr Saud...Read More
China's domestic rebar prices continued to trend upward on Tuesday September 7 but trading activity fell in response to the increases.DomesticEastern China (Shanghai): 5,320-5,370 yuan ($824-831) per tonne, up by 40-60 yuan per tonneRebar futures traded above Monday's settlement price of 5,427 yuan per tonne throughout the day on Tuesday.Sellers - already expecting lower steel production rates to...Read More
Demand for steel rebar in the United Arab Emirates improved in the first week of September compared with August, while prices remained stable, sources told Fastmarkets on Tuesday, September 7.Demand picked up last week because of low stock levels and buying has been strong so far this week, sources said.Domestic rebarSince August 24, the country's biggest steel producer, Emirates Steel, has been o...Read More
Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved. Despite the political uncertainties, the operations of mining projects...Read More
Australian mining company Nickel Mines has acquired 100% of the interest in the Siduarsi nickel-cobalt project in the Papua province of Indonesia, it said in a press release published on Thursday September 2.The Siduarsi site covers 16,470 hectares, with the highest individual grades of 2.07% nickel and 0.36% cobalt recorded across a 1-meter vertical channel sample.The project's potential was prom...Read More
Nornickel on Monday September 6 issued the world's only financial investment backed by carbon neutral nickel.It will trade as part of Nornickel's Global Palladium Fund (GPF) portfolio on the Vienna stock exchange, Wiener B??rse.Nornickel began to supply carbon-neutral nickel in late June, 2021.Russia's Nornickel, the world's second largest nickel miner after Brazil's Vale SA, said the new inv...Read More
Zinc was the main exception to an otherwise falling London Metal Exchange complex on September 7, which was a day of very quiet trading conditions - just over 10,000 lots of copper were traded by 5pm. The three-month price of zinc was at $3,044 per tonne on Tuesday at the close, a 1.2% increase from Monday's price at the same time of $3,007.50 per tonne.It set an intraday high of $3,059 per tonne...Read More
The European Union is considering imposing tariff-rate quotas on steel and aluminium exports to the United States in a bid to reach an agreement with the US on its plans to exempt the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel an...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
The possibility of tighter production cuts in China in early 2022 has led to a drop in raw materials prices across the ferrous chain in China, sources told Fastmarkets on Tuesday September 7.Stricter production policies in China put pressure on scrap demandJapan-origin offers to China remain unchangedTaiwan buys containerized scrap at $450 per tonneChinaThe Chinese government's stricter stanc...Read More
Turkish steel mills have resumed their deep-sea scrap bookings at fairly stable prices after a short break, market participants told Fastmarkets on Tuesday September 7.Three steel producers booked four deep-sea cargoes from various locations.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 27,000 tonnes of shredded at $460 per...Read More
Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved. Despite the political uncertainties, the operations of mining projects...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 7 and their latest price moves.China UG2 chrome ore offer prices dropped following a softening in the alloy market and reports of electricity production restrictions on consumers. The imported charge chrome market fell following early weakness in the domestic spot market and likely production...Read More
Excess supplies of rebar in Russia's Central Federal District around Moscow led to a decline in prices in the week to Monday September 6, after domestic producers that usually trade elsewhere redirected supplies to the country's key steel-consuming region.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 58,000-62,000 roubles ($795-850) per t...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday September 7, while all but aluminium on the Shanghai Futures Exchange were down. China's imports and exports growth accelerated in August, compared with July's increases... ...this despite Covid-19 disruptions and container shortagesBase metalsThree-month base metals prices on the LME were mainly weaker th...Read More
Australian mining company Nickel Mines has acquired 100% of the interest in the Siduarsi nickel-cobalt project in the Papua province of Indonesia, it said in a press release published on Thursday September 2.The Siduarsi site covers 16,470 hectares, with the highest individual grades of 2.07% nickel and 0.36% cobalt recorded across a 1-meter vertical channel sample.The project's potential was prom...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More