Overwhelmingly bearish sentiment pervaded the Asian scrap markets on Wednesday November 10, with buyers exiting the market amid continual price falls; the staple Kanto Tetsugen auction was not awarded due to low bids from traders.November Kanto Tetsugen auction fails to find winnersSentiment in China bearish after a major steelmaker in the country lowers domestic scrap buy priceTaiwanese buyers wa...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
Domestic steel reinforcing bar prices in the United States were flat week on week at a 13-year high, with many market participants expecting the number to increase again before long.Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US was $50.25 per hundredweight ($1,005 per short ton) on Wednesday November 10, sideways from the previous week at its highest point since the...Read More
Domestic stainless steel prices continued their sharp drop in the week ended Wednesday November 10, with the low price attracting higher buying interest.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,300-19,500 ($3,019-3,050) per tonne, down by 500-700 yuan per tonne from a week earlier."Deals [have been] hard to conclude when prices [have been] above 20,000 yuan per to...Read More
Exporters of steel scrap from Japan are finding it increasingly difficult to find buyers for their material at acceptable prices, sources told Fastmarkets on Wednesday November 10.Wednesday saw another price decrease at major buyer Tokyo Steel, which will drop its buy prices by ?500 ($4) per tonne across all grades and all works with effect from November 11. This will be the third decrease so far...Read More
A lack of supportive factors in the global market has resulted in lower interest in Commonwealth of Independent States-origin export billet from the customer side, eventually influencing bids.One of the most negative factors was a sharp drop in the Chinese long-steel market due to the bearish sentiment caused by many days of weak demand, market sources said.The assessment for steel...Read More
An overview of the consumer electronics markets and their latest price moves on Wednesday November 10.Ruby Liu in...Read More
Steel rebar producers in Southern Europe have achieved higher prices in deals over the past week amid increased buying activity and high costs, with optimistic sentiment supported by the new EU-US trade agreement, sources told Fastmarkets on Wednesday November 10.Fastmarkets' assessment of the price for steel reinforcing bar (rebar), domestic, delivered Southern Europe, climbed to ?,?765-800 ($887...Read More
China's domestic rebar prices fell to an eight-month low on Wednesday November 10, with the decline coming amid persistently weak demand.Domestic Eastern China (Shanghai): 4,640-4,670 yuan ($726-730) per tonne, down by 260-270 yuan per tonnePrices are now at their lowest since March 12, when they were at 4,700-4,730 yuan per tonne.The major reason for the sharp decline was bearish sentiment caused...Read More
Chinese lithium-ion battery cathode materials producer Beijing Easpring Material Technology has entered into an agreement to set up a plant for cathode active materials (CAM) with Finnish mining and battery projects investor Finnish Minerals Group.Under the agreement, a joint venture will be set up to construct and operate the CAM plant, with the Beijing Easpring controlling a 70% share while its...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
The weakening of the markets for flat and long steel in Asia that was created by the sharp drop in futures prices in China this week has had a negative effect on Iranian exporters, which sell most of their semi-finished steel volumes to the region, Fastmarkets heard on Wednesday November 10.Fastmarkets' daily price assessment for steel hot-rolled coil, domestic, ex-whs Eastern China, was 4,650-4,7...Read More
The price of steel hollow sections in Europe was stable on Wednesday November 10, caught between conflicting factors, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150-1,250 ($1,333-1,449) per tonne on Wednesday, unchanged week on week."Many are holding orders back in hope prices will drop. It's getting more and...Read More
Overwhelmingly bearish sentiment pervaded the Asian scrap markets on Wednesday November 10, with buyers exiting the market amid continual price falls; the staple Kanto Tetsugen auction was not awarded due to low bids from traders.November Kanto Tetsugen auction fails to find winnersSentiment in China bearish after a major steelmaker in the country lowers domestic scrap buy priceTaiwanese buyers wa...Read More
Cobalt hydroxide suppliers have made aggressive offers in negotiations for annual long-term contracts, sources told Fastmarkets on the sidelines of the Antaike Nickel & Cobalt conference in Ningbo, China, on November 1-3.Since the annual mating season in 2019, most cobalt hydroxide sellers and buyers have adopted a pricing mechanism for their long-term contracts for the crucial and preferred cobal...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Trading activity was still limited in the European hot-rolled coil sector on Wednesday November 10, with buyers pausing their purchasing activity to assess the market, sources told Fastmarkets.Producers, meanwhile, have been insisting on increasing their prices for first-quarter-rolling coil in 2022, claiming that the rises were necessary due to higher costs for energy, transportation and carbon.S...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More