Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Futures prices for nickel, aluminium and tin were higher at the 5pm close on July 13 on the London Metal Exchange, despite a spike in the United States Dollar Index after the release of US consumer price index readings. Aluminium's three-month price was the best performer on the LME on Tuesday, with a 1.8% gain on Monday's price to $2,535.50 per tonne. Over 15,000 lots of aluminium were traded by...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Increasing scrap usage was deemed to be a key step the road map of decarbonization of Chinese steel industry, Li Xinchuang, the Vice Chairman of China Iron & Steel Association (Cisa) said on Tuesday July 13."It is important that we increase supply of scrap in the local market. We expect the share of electric-arc furnaces (EAFs) in Chinese steelmaking to increase from 10% to more than 15% in 2025,"...Read More
Junior miner Lithium Americas has joined Chinese major Ganfeng Lithium in investing in Arena Minerals, an exploration-stage lithium brine company, it said on Monday July 12.Lithium Americas has entered into an agreement to acquire about 12.9% of the issued and outstanding shares of Arena Minerals, worth $4.8 million, it said."We look forward to working with Arena Minerals and Ganfeng to support th...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia moved both up and down during the week ended Tuesday July 13 because of global price fluctuations, with market activity soft during the week before the Eid al-Adha religious holiday, sources told Fastmarkets.The Islamic Eid al-Adha holiday was expected to start next week.HRC prices from China have been decreasing recently as w...Read More
Domestic prices for hot-rolled coil in both Northern Europe and Italy were fairly stable day on day on Tuesday July 13 due to the start of the seasonal summer slowdown, sources told Fastmarkets.Buyers have been reported to be largely inactive in the market. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high prices, long lead times,...Read More
Futures prices for nickel, aluminium and tin were higher at the 5pm close on July 13 on the London Metal Exchange, despite a spike in the United States Dollar Index after the release of US consumer price index readings. Aluminium's three-month price was the best performer on the LME on Tuesday, with a 1.8% gain on Monday's price to $2,535.50 per tonne. Over 15,000 lots of aluminium were traded by...Read More
Metal held outside of London Metal Exchange warehouses fell for the third month in a row to just above 1 million tonnes in May, according to data released by the LME, with the amount aluminium and copper falling by more than 10%.Across all metals, stocks fell by 140,246 tonnes through May to 1,037,379 tonnes, the latest LME off-warrant stock report shows, down from 1,177,625 tonnes in April.The bi...Read More
Shandong, China-based copper smelter Yantai Guorun has started repairs and maintenance work on one of its furnaces after an accident over the weekend, several market sources told Fastmarkets. The unplanned repairs and maintenance work will last for around one month, but the company's copper production has not been affected so far, with the company holding anode stocks for cathode conversion, sourc...Read More
Leading aluminium producer Rusal will begin to supply its low-carbon aluminium ALLOW product to Aluminium Rheinfelden from August 2021, it announced on Tuesday July 13.Aluminium Rheinfelden is one of Germany's leading manufacturers of aluminium alloys, semi-finished products and carbon-based components. It was acquired by Rusal in April 2021.Rusal's bespoke brand of low-carbon aluminium, ALLOW, ha...Read More
US silver miner Hecla reported an increase in lead production during the second quarter as its Lucky Friday mine continues its first full year of commercial production in many years.The company's lead production of 11,541 tonnes in the second quarter was a 29% gain on the same period in 2020. The Lucky Friday mine resumed full production late...Read More
Several aluminium smelters in the western part of China's Inner Mongolia autonomous region have been subject to electricity load shifting since the end of last week due to tight power supply in the region, several sources told Fastmarkets on Tuesday July 13.Power companies have been limiting electricity supply to these smelters every day between 7pm and 10pm, they said. The power companies have no...Read More
Hot-rolled coil prices in the United States hovered within $1 of $90 per hundredweight ($1,800 per short ton) for a sixth consecutive business day after market participants reported relative stabilization around that level while spot tons continued to be in short supply. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.94 per cwt ($1,798.80 per ton) on Tuesday July...Read More
European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free emissions allocations, it said on Tuesday July 13."In line with the March 2021 European Parliament vote, Eurofer calls for the CBAM and EU ETS to be complementary systems, without any further redu...Read More
ArcelorMittal has signed a Memorandum of Understanding (MoU) with the Spanish government that will see a ?,?1 billion ($1.19 billion) investment in decarbonization technologies at the company's Asturias plant in Gij??n, it has announced.The investments in new direct-reduction iron (DRI) and electric-arc furnace (EAF) installations in Gij??n will reduce carbon emissions from the company's Spanish o...Read More
Demand for steel rebar and billet was weak in the United Arab Emirates during the week ending Tuesday July 13 due to the coming Eid al-Adha holiday, but import prices for the products rose, sources told Fastmarkets.The main reason behind rising import prices was global price increases.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $645 per tonne on July 13, rising from$623 p...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Prices for steel scrap in Mexico continued to rise this week, with supply remaining tight and demand for steel products positive.Mexican scrap buyers accepted price increases during the week ended Friday July 9 in order to secure supply, and some market participants expect more increases to come this week.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Mon...Read More
ArcelorMittal has announced that its Sestao plant in Spain will become a full-scale zero carbon-emissions steel plant through the use of green hydrogen and renewable electricity as part of a ?,?50 million ($59 million) investment.The elimination of scope 1 and 2 emissions under the Greenhouse Gas Protocol will be done by changing the metallic input via increasing the proportion of recycled scrap,...Read More