Domestic prices for hot-rolled coil across Europe were fairly stable on Tuesday November 9 due to limited trading, sources told Fastmarkets.Despite slow market activity, bullish sentiment prevails in the market, particularly for material produced and delivered in the first quarter of 2022. Upward sentiment has been supported by higher energy, transportation and emission costs faced by European ste...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Growing consumer appetite for sustainable products and tighter regulations on carbon-intensive primary aluminium production, such as the EU's recent proposal for a carbon border adjustment mechanism (CBAM), have seen greater investment in scrap-processing facilities across Europe, providing long-term support for scrap prices as a result.CBAM calls for EU importers of steel and aluminium to pay for...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...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 grade, in-whs Rotterdam, $/lb at...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
(Updates prices) By Eric Onstad LONDON, Nov 9 (Reuters) - Copper prices retreated on Tuesdayon concerns that a deepening debt crisis in China's propertysector will curb demand. Three-month copper on the London Metal Exchange(LME) slipped 0.9% to $9,556 a tonne by 1700 GMT, reversingdirection after a 1.3% gain on Monday. "China is the big unknown right now. The trade data was onthe positive si...Read More
Modest gains were seen in base metals futures prices at the 5pm close of trading on the London Metal Exchange on Monday November 8 because of a weaker US Dollar Index, which supported price increases.Aluminium led the gains, its price increasing by almost 2% to $2,605.00 per tonne, up from $2,556.50 per tonne at Friday's 5pm close. This rise followed a 5% decline in the three-month price for the l...Read More
The publication of Fastmarkets' monthly blister copper refining charge for October was delayed due to a reporter error. Fastmarkets' pricing database has since been updated with the following price, originally scheduled to be published on last working day of October. Fasstmarkets' price assessment for opper blister 98-99% RC spot, cif China was $150-170 per tonne on Friday October 29 and as u...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
Nickel pig iron (NPI) prices in China slid from an all-time high in the week to Friday November 5 in tandem with movements on exchanges, though tight supply amid power cuts in the country kept them supported.Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was at 1,490-1,510 yuan ($233-236) per nickel unit last Friday, narrowing downward by 10 yuan...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
The manganese seaborne and portside ore markets diverged during the week to Friday November 5, with the higher-grade cif market strengthening on higher offers and fot prices weakening on the softer alloy market.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.80 per dry metric tonne unit (dmtu) on Friday, an increase of 22 cents (+3.9%) from $5.58 per dmtu one week e...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More