Rio Tinto's Alma aluminium smelter in Canada is to be the first operation to install and demonstrate the zero-carbon Elysis technology in an industrial setting, the Elysis joint venture has said.The inert anode technology will be installed at the end of an existing potline at a commercial size of 450 kiloamperes (kA), which is a common capacity for modern, full-scale smelters. The 450kA cells at A...Read More
Egypt's ministry of industry and trade has imposed an anti-dumping duty on pre-stressed concrete steel strands from China, Turkey and Tunisia, imported under HS code 73089010, Egyptian sources have told Fastmarkets.The product is mostly used by the cable industry.The anti-dumping duty, which took effect...Read More
Brazilian steelmaker Gerdau will invest around 1 billion Reais ($179 million) to modernize and expand production capacity at its special steel division in Brazil amid an expected recovery in demand from both the automotive and capital goods industries, the company said on Monday April 19.The bulk of that investment is aimed at its unit in Pindamonhangaba, in southeastern S??o Paulo state. Gerdau a...Read More
The price of hot-rolled coil continues to rise across Europe, with the upward trend being driven by a persistent material shortage, sources told Fastmarkets on Tuesday April 20.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?953.75 ($1,145.38) per tonne on Tuesday, up by ?,?12.08 per tonne from ?,?941.67 per tonne on April 19.The index was also up...Read More
Egypt's ministry of trade and industry reduced the safeguard duties on imports of steel billet, wire rod and rebar with effect from April 12, sources have told Fastmarkets.The safeguard duty on steel billet was now $46 per tonne, or 10% of the cif price. It had been $60 per tonne or 13% of...Read More
Brazilian iron ore and base metals producer Vale signed a definitive agreement with Japanese trading company Mitsui on Monday April 19 to acquire the latter's interest in the Moatize coal mine and the Nacala Logistics Corridor, both in Mozambique.Vale said it expects to conclude the purchase of Mitsui's stake throughout 2021. The companies had reached a heads of agreement in January.These are the....Read More
Turkish steel producers continued to push for lower deep-sea scrap prices, while suppliers in the Baltic Sea and United States continued to maintain higher offers, market participants told Fastmarkets on Tuesday April 20.At least three deep-sea cargoes were booked on Friday April 16.The most recent was heard after the indices closed on Monday April 19.A steel mill in the Izmir region booked a Euro...Read More
Fastmarkets proposes to increase the frequency of its India ferrous shredded scrap index to twice each week because of continued price volatility in the market.The steel scrap shredded, index, import, cfr Nhava Sheva, India, is subject to continuous fluctuations in the market as a result of factors such as the Covid-19 pandemic and the global shipping crisis. This means that the index, currently c...Read More
Demand and prices for steel billet in China were likely to be affected by new restrictions on re-rolling activity in the major production hub of Tangshan, sources have told Fastmarkets.Curbs on blast furnace-based sintering in Tangshan, together with solid demand for long steel products, has driven up billet consumption at some mills and re-rollers in the city this year. That has resulted in the p...Read More
Spot prices for imported ferrous scrap to China remained largely stable on Tuesday April 20, while cargoes of scrap booked in recent weeks have been gradually clearing customs, sources have told Fastmarkets.A steelmaker in north China had its first shipment of imported scrap successfully clear customs at Tianjin port on April 14, while a Chinese metals and minerals trading company had a cargo clea...Read More
Iron ore prices surged on Tuesday April 20 amid strong mill results, which reflect very healthy margins, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $189.61 per tonne, up $7.81 per tonne62% Fe low-alumina fines, cfr Qingdao: $190.03 per tonne, up $7.48 per tonne58% Fe fines high-grade premium, cfr Qingdao: $164.40 per tonne, up $6.91 per tonne65% Fe Brazil-origin fines, cf...Read More
Seaborne premium hard coking coal prices in the cfr China and fob Australia markets stayed largely stable on Tuesday April 20, sources told Fastmarkets.Both supply and demand for seaborne cargoes remained weak in the Chinese market while some gradual and necessary procurement activities took place in the fob market, market sources told Fastmarkets. Fastmarkets indices Premium hard coking coal, f...Read More
Italian domestic steel scrap prices have been largely unchanged in the month to Monday April 19, supported by limited availability of some grades of the material, market sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy was unchanged over the month at ?,?335-345 ($402-414) per tonne on Monday.And the correspondi...Read More
The London Metal Exchange three-month nickel price rebounded on Tuesday April 20 morning following its 1.5% dip on Monday at the close, while copper continued its price rise.LME three-month nickel was at $16,240 per tonne at 9am, a 0.7% increase from its Monday closing price of $16,121 per tonne. The metal fell by 1.5% on Monday from Friday's close of $16,363 per tonne following news that the...Read More
Base metals prices on London Metal Exchange were stronger across the board this morning, Tuesday April 20, but those on the Shanghai Futures Exchange were mixed, as were broader markets, following weakness on Wall Street on Monday.The US Dollar Index continues to trend lowerBase metalsLME three-month base metals prices were up by an average of 0.7% this morning, once again led by a 1.2% rise in co...Read More
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday April 16.Key driversChina The price of silicon in China continued to drop after a previous rally, and leading producers reduced their offer prices for the domestic market. Numbers of deals and inquiries thinned, with buyers holding back. Sources expected the market to have more supply, with producers...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
A summary of Russian miner Nornickel's production results for the first quarter of 2021 as stated in a company announcement released on Monday April 19.In brief: Production of copper and nickel was down 21% and 10% respectively year on year - the company continues to face challenges caused by an accident at the Norilsk Concentrator and production delays at its Oktyabrsky and Taimyrsky mines due to...Read More
Key data from Fastmarkets' pricing session in China on Friday April 16.Key drivers Limited activity in the market, with inquiries and deals thinning. Ample supply owing to Chinese smelters having resumed operations...Read More