Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Brazilian iron ore export volumes increased by 11.68% year on year in August, according to figures released by the country's economy ministry on Wednesday September 1.Volumes exported came to 34.84 million tonnes last month, compared with 31.19 million tonnes a year earlier. Brazil-based mining company Vale has been...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday August 31 and their latest price moves.China Spot domestic ferro-chrome prices tumbled after Tsingshan lowered its September tender price by 800 yuan ($123) per tonne. Production in Inner Mongolia has recovered to June levels but supply uncertainty remains due to an unstable electricity supply and new...Read More
Aluminium premiums increased on Tuesday August 31 across the globe, with tight supply, an opened arbitrage window in China, and overall bullish sentiment providing market tailwinds and supporting all-time highs.Premiums up in Rotterdam on insufficient supplyUS Midwest premium stable at record highPremiums rise in Shanghai amid wide arbitrage profitsImproved market sentiment drives MJP premiums upw...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The Baltic-sea cargo was heard late on Friday August 27, past the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on Monday August 30. The cargo was booked by a steel m...Read More
Base metals prices on the London Metal Exchange were mainly firmer on the morning of Tuesday August 31, while those on the Shanghai Futures Exchange were more mixed.This comes despite the release of some weaker-than-expected Chinese manufacturing numbers. The US dollar index was, however, weaker. China's manufacturing purchasing managers index (PMI) fell to 50.1 in August from 50.4 in July. China'...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
A summary of Chinese lithium producer Ganfeng Lithium's financial results for the six months ending June 30, 2021, released by the company on Tuesday August 31.In briefGanfeng Lithium's revenue for the first half of 2021 totalled 4.06 billion yuan ($627.45 million), up by 70.27% year...Read More
Aluminium's three-month price had the strongest growth in the complex this month, trading at $2,726.50 per tonne on Tuesday August 31, while most other prices on the London Metal Exchange were lower than on August 2. Aluminium closed at $2,718 per tonne on Tuesday, a rise of 2.6% from last Friday's price of $2,649.50 per tonne and up from $2,615 per tonne at the start of August. Bullish funda...Read More
Manganese markets were quiet in the week ended Friday August 27, with buyers expecting miners to reduce their offer prices for October shipments to match the port markets."[Miners] must at least offer at a level equal to the port markets to attract buying interest, otherwise smelters will just buy from the spot market," a manganese ore buyer said. "And traders would further lower their purchase am...Read More
Mexican steel scrap prices continued to decrease in the week ended on Friday August 27, as most steelmakers applied price cuts because of competition from imported material.Scrap consumers have been pushing through a series of weekly price cuts due to pressure from lower international prices.Fastmarkets' assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey&n...Read More
The European hot-rolled coil (HRC) market remained calm on Tuesday August 31 while buyers remained in a "wait-and-see" mode, sources told Fastmarkets.Although both buyers and sellers have returned to the market after a traditionally slow August, they have been taking their time to assess market trends. Buyers' sentiment has been largely negative due to lower iron ore costs, uncertainty over automo...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
Steel billet and rebar prices in the United Arab Emirates decreased on Tuesday August 31 while demand for rebar improved, sources told Fastmarkets.Demand for rebar improved after a long period of poor demand due to low stock levels, sources said.The country's biggest producer, Emirates Steel, was offering rebar at 2,610 dirhams ($710.46) per tonne, and Conares Steel's rebar price was 2,574 dirhams...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
The mood in the European hot-rolled coil market soured in the week ended Friday August 27 after both buyers and producers started to return after the summer holiday in August.Trading activity has been limited while buyers follow a wait-and-see strategy.Buyers expect domestic coil prices to decline in September due to lower raw material costs.Demand outlook for the automotive segment - one of the k...Read More