Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
UK-based recycler HyProMag Ltd has established a subsidiary in Germany to roll out the commercialization of technology to recycle rare-earth magnets into the European market, a shareholder in the British company has said.Magnito Ltd is a subsidiary of Canadian minerals explorer Mkango Resources, and it holds a 42% stake in HyProMag. According to Mkango, the goal of the new German operation is to s...Read More
MineHub Technologies Inc has launched an application to digitalize and streamline the assay exchange process between buyer, seller and laboratories in base metal concentrates transactions, the blockchain technology platform said.The application, known as MineHub Assay Exchange, is the first in a series of network applications for concentrates that the company intends to roll out over the next mont...Read More
General Motors (GM) plans to extend its control of the midstream processing chain in the next 18 months while it gets battery plants in the United States up and running, a senior company executive at the automotive manufacturer said.This is also part of a push by the automaker to create a greener supply chain via reduced movement of materials around the world, GM manager of energy environment and...Read More
Prices for flat steel products in Russia's Central Federal District around Moscow were flat during the week ended Monday November 15, with market participants expecting possible price increases for December deliveries due to good demand, sources told Fastmarkets.Traders suggested that if no newgovernment measures are implemented to cool local prices, there may be a price increase for December...Read More
Key data from Fastmarkets' ferro-silicon pricing sessions in China, Europe and the United States on the week ended Tuesday November 16.China Ferro-chrome producers in Inner Mongolia and Guangxi are running at high production rates, which could pressure alloy prices and increase chrome ore consumption.Spot ferro-chrome dropped again after suppliers lowered offers to destock. The improved productio...Read More
Austrian steelmaking group Voestalpine has been certified as a sustainable production site by the non-profit steel sustainability organization ResponsibleSteel, the steelmaker announced earlier this week.Part of the certification was to meet 200 criteria, including the responsible procurement of raw materials, reducing CO2 emissions and the management of labor and human rights. Certification requi...Read More
Although ferro-alloy prices have sharply climbed, steelmakers are unlikely to reduce their consumption of these raw materials given the small share of steel production costs it accounts for and the likelihood that prices will move down in the near-term, panelists said on Monday November 16 during Fastmarkets' International Ferro-alloys Conference.During the session titled "Steel Mill Panel Discuss...Read More
Seaborne iron ore prices moved up slightly but overall market sentiment remains weak, sources told Fastmarkets on Tuesday November 16.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.04 per tonne, up $0.99 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.00 per tonne, up $0.74 per tonne58% Fe fines high-grade premium, cfr Qingdao: $63.07 per tonne, up $1.08 per tonne65% Fe Brazil-orig...Read More
General Motors (GM) plans to extend its control of the midstream processing chain in the next 18 months while it gets battery plants in the United States up and running, a senior company executive at the automotive manufacturer said.This is also part of a push by the automaker to create a greener supply chain via reduced movement of materials around the world, GM manager of energy environment and...Read More
The lower house of the Federal Assembly of Russia, known as the State Duma, approved on Tuesday November 16 an increase in the existing duty imposed on exports of steel scrap to ?,?100 ($114) per tonne, according to the State Duma web portal.The approval came from the subcommittee on Customs and Tariff Regulation, the web portal said. Standard procedures suggest that the increase would become effe...Read More
Spot prices for hot-rolled coil in China edged higher on Tuesday November 16, thanks to a short-lived rebound in futures prices.DomesticEastern China (Shanghai): 4,720-4,750 yuan ($740-745) per tonne, narrowing up by 20 yuan per tonneThe most-traded HRC contract the Shanghai Futures Exchange climbed to an intraday high of 4,527 yuan per tonne on Tuesday, before reversing to register the third day...Read More
Mexican ferrous scrap prices were stable for most grades, but sparse reports of price increases and higher-price deals were spotted in what could be the beginning of an uptrend in prices.At least one Mexican scrap buyer was heard applying slight increases for prime grade scrap, since the material supply was short. There were also reports of higher deals for some obsolete grades.But for most grades...Read More
Lithium market participants have voiced concern about the ability to secure supply of industrial-grade lithium compounds due to an increasingly larger share of the market being taken up by the battery sector.With long-term contract negotiations for next year's supply unfolding, traditional industrial buyers spoke of surging demand from the battery sector globally and said they expect increasing pr...Read More
Export hot-rolled coil prices from the Commonwealth of Independent States fell in the week to Monday November 15 in new deals for Ukraine-origin material to Turkey.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $820-850 per tonne on Monday, down from $830-870 per tonne a week earlier.Ukraine-origin HRC was sold to Turkey at $850-870 per tonne cfr - e...Read More
Domestic prices for hot-rolled coil were fairly stable in Northern Europe and Italy on Tuesday November 16 due to a lack of trading activity, sources told Fastmarkets.Spot buyers will remain in "wait-and-see" mode until the price trend becomes clear and long-term contracts are settled, sources said.Producers across Europe have been aiming for higher prices for first-quarter rolling coil due to ris...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
Prices for flat steel products in Russia's Central Federal District around Moscow were flat during the week ended Monday November 15, with market participants expecting possible price increases for December deliveries due to good demand, sources told Fastmarkets.Traders suggested that if no newgovernment measures are implemented to cool local prices, there may be a price increase for December...Read More
German steelmakers have settled their monthly steel scrap contracts for November at higher prices, sources told Fastmarkets on Tuesday November 16.The main drivers behind the price increase were strong demand among the steelmakers and the short supply of scrap, particularly of new grades."Prices increased on average by about ?,?30 [$34] per tonne. As usual, the price rise was slightly different de...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesOctober 8: 90 tonnes (15 tonnes each month between January to June 2022, all at $26.75 per lb)October 14: 5 tonnes for December 2021 at $26.85 per lbOctober 15: 65 tonnes (5 tonnes for November 2021 at $...Read More