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
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
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
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 Mexican economy secretariat has extended the period of an existing countervailing duty on imports of longitudinal welded carbon steel pipes from the Unites States, and has started an anti-dumping investigation on flat-steel imports from Vietnam.Mexico has extended the duty on welded steel tubes from US for five years starting on May 28, 2020, according to a decision published in the country's...Read More
The magnesium branch of China Nonferrous Metals Industry Association (CNIA) published a proposal on August 27 calling for the healthy development of the magnesium industry. This came amid surging metal prices.Fastmarkets' weekly price assessment for magnesium, 99.9%, exw China, was 25,000-26,000 yuan ($3,862-4,017) per tonne on Friday August 27, an increase of 2,800-3,600 yuan per tonne or 14.3% f...Read More
A summary of Chinese lithium producer Tianqi Lithium's financial results for the six months ended June 30, 2021, as released by the company on Monday August 30.In briefRevenue for the first half of 2021 totalled 2.35 billion yuan ($363.22 million), up by 25.13% year on...Read More
In the latest move by Chinese authorities to diversify the country's iron ore supply sources, the Ministry of Natural Resources has stated its support for the development of domestic iron ore reserves.Responding to a proposal made by a member of the People's Political Consultative Conference during the "Twin Sessions" meeting in Beijing in March, the Ministry of Natural Resources announced on Augu...Read More
Seaborne iron ore prices decreased on Monday August 30 due to China's potentially stricter steel production cuts by the end of November, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $156.66 per tonne, down by $0.89 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.19 per tonne, down $0.65 per tonne58% Fe fines high-grade premium, cfr Qingdao: $125.81 per tonne, down $0.69...Read More
China's domestic rebar prices increased on Monday August 30 supported by stronger demand and futures gains.DomesticEastern China (Shanghai): 5,230-5,260 yuan ($809-813) per tonne, up by 100 yuan per tonneThe weather has been favorable for construction work in Eastern China over the past few days, leading to stronger demand for rebar in the region.Rebar...Read More
Spot prices for steel rebar imports into Singapore continued their downward trend in the week to Monday August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.A trader had cut his offers for Indian rebar to $725-730 per tonne cfr Singapore on a theoretical weight basis. Market sources said buyers remained silent due to the presen...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) acquired a 49% stake in two wind power generation assets from a joint venture by sister company Votorantim Energia and the Canada Pension Plan Investment Board (CPP Investments) for 59.56 million Reais ($11.4 million), the company said on Monday August 30.The two units are a part of the Ventos do Piau?- I and II complex, located...Read More
Here are five Fastmarkets stories you might have missed on Monday August 30 that are worth another look.Spot prices for steel rebar imports into Singapore continued their downward trend in the week to August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.Read More
Here are five Fastmarkets stories you might have missed on Monday August 30 that are worth another look.Spot prices for steel rebar imports into Singapore continued their downward trend in the week to August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.Read More
Hot-rolled coil (HRC) prices in China's domestic market rose sharply on Monday August 30; news of production curbs raised futures prices to their highest in more than a week.DomesticEastern China (Shanghai): 5,720-5,750 yuan ($884-888) per tonne, up by 70-120 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange hit an intraday high of 5,654 yuan per tonne in early afte...Read More
The Mexican economy secretariat has extended the period of an existing countervailing duty on imports of longitudinal welded carbon steel pipes from the Unites States, and has started an anti-dumping investigation on flat-steel imports from Vietnam.Mexico has extended the duty on welded steel tubes from US for five years starting on May 28, 2020, according to a decision published in the country's...Read More
China's nickel sulfate price slid from its all-time high amid active spot trading in the week to Friday August 27, with easing raw material tightness and volatile nickel prices on the London Metal Exchange said to have driven the decrease.Fastmarkets assessed the price for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, at 36,500-38,000 yuan ($5,639-5,871) per tonne on August 27, d...Read More
Here are five Fastmarkets stories you might have missed on Monday August 30 that are worth another look.Spot prices for steel rebar imports into Singapore continued their downward trend in the week to August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.Read More
The latest data for the global manganese ore market for the week ended August 30, 2021.Read More
Chilean copper producer Codelco signed early labor deals valid until October 2024 with two trade unions representing workers at its El Teniente division, the state-owned company said on Saturday August 28.Unions representing workers at El Teniente mine and the Caletones smelter joined the No5 union at El Teniente, which had signed a deal a week prior, Codelco said. Existing labor contracts were du...Read More