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
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
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
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
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
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
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
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
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
Prices for steel scrap imported into China tumbled on Tuesday November 16 after Chinese mills lowered domestic scrap purchase prices further, market sources said. Continued drop in China's domestic scrap buy prices pressures import appetite.Taiwanese buyers bid lower.ChinaSpot prices for steel scrap imported into China weakened further on Tuesday amid bearish sentiment in the domestic scrap market...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
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
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
Turkish steelmakers were mostly quiet in the deep-sea scrap import markets following a sharp decline in the country's currency value, market participants told Fastmarkets on Tuesday November 16.Mills booked three deep-sea cargoes for December shipments at the beginning of the week.A steel mill in the Marmara region booked a UK cargo at $490 per tonne and a Baltic Sea cargo at $494.50 per tonne cfr...Read More
The downward trend in China's domestic rebar prices was halted by a rise in trading activity on Tuesday November 16, sources told Fastmarkets.Domestic Eastern China (Shanghai): 4,700-4,730 yuan ($737-742) per tonne, unchangedBuyers raised procurement rates on Tuesday morning in response to futures gains, which halted the decline in spot market prices, sources said.The most-traded January rebar fut...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.Fastmarkets assessed Cobalt alloy...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
Mytilineos, which owns producer Aluminium of Greece, has received the Aluminium Stewardship Initiative's (ASI) Performance Standard.The certification was awarded to Mytilineos's metallurgy business unit for its upstream activities, including bauxite mining, alumina refining, aluminium smelting and casting. The company's bauxite mining activities at its Delphi Distomon site, its refining, smel...Read More
Hot-rolled coil prices in the United States weakened to the lowest level since July after more buyers stood on the sidelines, unwilling to accumulate inventory while mill pricing is on a downward trajectory.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.47 per hundredweight ($1,829.40 per short ton) on Tuesday November 16, a decrease of 0.32% from $91.76 per cwt...Read More