German carmaker Volkswagen Group is working on the development of six battery-manufacturing sites in Europe to guarantee security of supply for its electric vehicle (EV) fleet, it said on Monday March 15.The group was presenting its new technology roadmap for the period to 2030 during its first Power Day event."E-mobility has become a core business for us. We are now systematically integrating add...Read More
Key data from Fastmarkets' pricing session in China on Friday March 12.Key drivers Cobalt metal price in China falls amid weak market sentiment following a slump in local futures prices, while spot trading was thin due to buyers' reluctance to accept higher prices.Chinese cobalt tetroxide market was...Read More
Here are five Fastmarkets stories you might have missed on Monday March 15 that are worth another look.Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8.The Aluminium Stewardship...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Monday March 15, supported by a shortage of material in the region, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?791.25 ($945.39) per tonne on Monday March 15, down by just ?,?1.75 per tonne from ?,?793.00 per tonne on Friday March...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view. This month's key North American steel forecast highlights: US hot-rolled coil prices continued to move in line with our forecasts in February, although actual prices again modestly exceeded our forecasts. Domestic HRC prices averaged $1,194 per ton in February, exceeding our forecast price of $1,150 per ton for the month. U...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were broadly flat during the week to Monday March 15, but sources expect prices to pick up in the short-term on improving end-user demand.Demand for rebar from key end sector construction has started to recover slowly, supporting a positive outlook, sources told Fastmarkets.But trading activity in the region is subdued,...Read More
The steel trade between the United Arab Emirates and Israel has resumed since the signing of Abraham Accords on August 13, 2020.The Abraham Accords refers to treaties between the UAE, Israel, Bahrain and the United States. Since their signing, the countries have been mutually exporting and importing a variety of products, and trade relations between them were expected to improve in the coming mont...Read More
Glencore has undergone a major restructuring of its leadership teams, with a number of senior departures and new roles for existing department heads.Kenny Ives, Tor Peterson and Nico Paraskevas will leave the company in the coming months, stepping down from their roles as head of nickel, head of coal and head of copper marketing respectively. The trio will stay on for a few months...Read More
Domestic ferrous scrap prices in Germany increased significantly in the month to Monday March 15, supported by the trend in international trading, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill, Germany, was ?,?360-370 ($430-442) per tonne on March 15, up by ?,?20-30 per tonne from ?,?330-350 per tonne in mid-F...Read More
The price range for rebar imports into Singapore widened during the week to Monday March 15 on steady demand from buyers and lower-priced cargoes from India, sources told Fastmarkets.There was one transaction heard concluded at $685 per tonne cfr Singapore on a theoretical weight basis for a 50,000-tonne cargo from Turkey, and another transaction heard concluded at $675 per tonne cfr Singapore on...Read More
Here are five Fastmarkets stories you might have missed on Monday March 15 that are worth another look.Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8.The Aluminium Stewardship...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Volkswagen has placed a $14-billion battery cell supply order with battery maker Northvolt for the next 10 years, the Swedish company said on Monday March 15, making Northvolt the carmaker's "strategic lead supplier for premium battery cells for Volkswagen Group in Europe." The Swedish battery also said it will sell its share in joint venture Northvolt Zwei, one of the partnership's factories base...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
China's crude steel, hot metal and finished steel production all rose significantly in the first two months of 2021, according to data released by National Bureau of Statistics (NBS) on Monday March 15.Crude steel: 174.99 million tonnes, up by 12.9% from the same period a year earlierHot metal: 144.75 million tonnes, up by 6.4% year on yearFinished steel:...Read More
Taiyuan Iron & Steel (Tisco) plans to triple its annual output of stainless steel products by 2025, according to its general manager Gao Jianbing.The mill - China's second-largest stainless steel producer - plans to raise its annual crude steel output to 25 million tonnes by that year. Of these,...Read More
Here are five Fastmarkets stories you might have missed on Monday March 15 that are worth another look.Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8.The Aluminium Stewardship...Read More
Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Aluminium futures closed at a price of $2,218 per tonne on the London Metal Exchange on Monday March 15, showing almost double the volumes traded in copper, and with improved demand and tight availability of the light metal edging its price upward.The price of aluminium reached $2,235 per tonne during Monday, just $8 per tonne below its 2021 year-to-date high set on February 25, and finished at 5p...Read More