Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Turkish steel producers remained quiet in the deep-sea scrap market and instead continued to focus on finished steel, sources told Fastmarkets on Tuesday June 1.The most recent deep-sea trade was done at the end of last week, when a steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $503 per tonne and shredded scrap at $513 per tonne cfr.The US cargo resulted a furth...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 1 that are worth another look.Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."German carmaker Volkswagen will halt...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Steel slab prices from the Commonwealth of Independent States region showed some signs of softening in the week to Tuesday June 1, despite the fact that mills have not been active in the market."It is too early. [According to what I have heard,] they will not make any offer before June 10," one trader said.A producer from Russia said that it was not offering any material at the moment, but if it w...Read More
The first deals for the supply of aluminium to main Japanese ports (MJP) for the third quarter have been concluded at a premium of $185 per tonne cif MJP, market sources told Fastmarkets on Tuesday June 1.Fastmarkets understands that the deals were between producers and traders, although tonnages had yet to be confirmed at the time of publication.The initial deals were more than double the first d...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 1 that are worth another look.Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."German carmaker Volkswagen will halt...Read More
London Metal Exchange prices were mostly unchanged on the first trading day of this month, but maintained the bullish tone they struck at the end of May at the close on Tuesday June 1, given a release of positive economic data."A short-lived pullback seen in the base-metals complex suggests that underlying sentiment remains very bullish, with dip buyers welcoming lower prices with open arms," Fast...Read More
The seaborne premium hard coking coal price in the cfr market jumped on Monday May 31, with a deal heard done at $275 per tonne cfr China, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.89 per tonne, up $1.09 per tonnePremium hard coking coal, cfr Jingtang: $284.65 per tonne, up $21.19 per tonneHard coking coal, fob DBCT: $129.95 per tonne, unchangedHard cokin...Read More
Seaborne hard coking coal prices increased on Tuesday June 1 following Monday's jump in the premium hard coking coal cfr price and with support from a lack of spot volumes. And sources said that major mills in east China have proposed a first round of coke price cuts this year by 120 yuan ($19) per tonne.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.44 per tonne, down by $0.45 per to...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
The premium for direct-reduced (DR) iron ore pellet has remained at $60.20 per tonne for shipments in the second quarter of this year, but market sources were expecting it to rise in the third quarter, Fastmarkets heard on Tuesday June 1.Fastmarkets' assessment of the iron ore DR-grade pellet premium to 65% Fe fines index, Middle East reference, was $60.20 per tonne on June 1, unchanged month on m...Read More
Steel slab prices from the Commonwealth of Independent States region showed some signs of softening in the week to Tuesday June 1, despite the fact that mills have not been active in the market."It is too early. [According to what I have heard,] they will not make any offer before June 10," one trader said.A producer from Russia said that it was not offering any material at the moment, but if it w...Read More
Operations at one of Vale's largest nickel mines - located in Sudbury, Ontario - will be disrupted following a partial impasse in negations with the United Steelworkers (USW) union, the Brazilian miner said on Tuesday June 1."United Steelworkers (USW) Local 6500, representing production and maintenance employees in Sudbury, voted to reject the company's offer of a new five-year collective bargaini...Read More
Austria Metall AG (AMAG), a producer of aluminium cast and flat rolled material has shipped its first aluminium certified under the Aluminium Stewardship Initiative (ASI) chain of custody standard, the company has said, with the customer being German carmaker Audi.The metal has been sent to the Audi plant in Neckarsulm, Germany, and will be used for the outer body sheet of the tailgate for the A6...Read More
London Metal Exchange prices were mostly unchanged on the first trading day of this month, but maintained the bullish tone they struck at the end of May at the close on Tuesday June 1, given a release of positive economic data."A short-lived pullback seen in the base-metals complex suggests that underlying sentiment remains very bullish, with dip buyers welcoming lower prices with open arms," Fast...Read More
Leaders of the Group of Seven (G7) countries have reaffirmed their commitment to fair trade and criticized the use of subsidies that create excess capacity, including in steel and aluminium.In a joint statement issued at the virtual G7 Trade Track meeting on May 28, the governments of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States called for the start of talks to d...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 1 that are worth another look.Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."German carmaker Volkswagen will halt...Read More