Brazil's automotive production dropped by 24.8% year on year in October amid a global microchip shortage and a stoppage of truckers in the Port of Santos, S??o Paulo.Light vehicle production totaled 177,900 units last month, compared with 236,500 units a year earlier.Anfavea, the national association of motor vehicle manufacturers, said that production was affected by suspensions among carmakers b...Read More
Manganese ore and alloy markets, which normally perform in a positively correlated manner, have been decoupling since October, with prices for manganese ore strengthening whereas those for silico-manganese in China have been falling. Fastmarkets reviews the main reasons why prices for manganese ore have lost their stickiness to alloy prices in China, the world's largest manganese ore consumer, acc...Read More
Prices for steel rebar and billet imports into the United Arab Emirates increased during the week ended Tuesday November 9, although offer prices for billet were higher than the rebar deal prices because of a shortage of the semi-finished material, sources have told Fastmarkets.The reason for the high billet price, compared with rebar, was that most billet producers in Oman have sold large quantit...Read More
Base metal futures prices were largely down across the London Metal Exchange complex at the 5pm close of trading on Tuesday November 9, despite gains made on Monday.Prices reversed across the board on the LME, initially trending higher before eventually scaling back by the close.The US Dollar Index rose throughout the day, supporting this price move. It was up to 94.05 by 5pm, from 93.96 at 9am.Th...Read More
The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for global long steel markets remain good and indicate a satisfactory first quarter of 2022.The global long steel products market is stable at the moment and should remain so in the next quarter despite many uncertainties including power shortages and costs, logistical challenges, the Evergrande...Read More
The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for global long steel markets remain good and indicate a satisfactory first quarter of 2022.The global long steel products market is stable at the moment and should remain so in the next quarter despite many uncertainties including power shortages and costs, logistical challenges, the Evergrande...Read More
Prices for steel rebar and billet imports into the United Arab Emirates increased during the week ended Tuesday November 9, although offer prices for billet were higher than the rebar deal prices because of a shortage of the semi-finished material, sources have told Fastmarkets.The reason for the high billet price, compared with rebar, was that most billet producers in Oman have sold large quantit...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
Alumina export volumes from Brazil increased by 84.73% in October 2021 compared with the corresponding month in 2020, with both the Alunorte and Alumar refineries shipping more material, according to data published by the coutnry's ministry of economy on Monday November 8.Brazilian alumina exports totaled 901,012 tonnes in October, a significant rise from 487,742 tonnes a year before.Cargoes shipp...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely stable during the seven days up to Monday November 8, because of slow activity after a national holiday and Covid-19 restriction measures.Market participants continued to report that the available volumes of rebar were limited. This was mostly due to mills giving priority to replenishing their trade houses'...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday November 5, with buyers passing on minor price adjustments to certain grades.Scrap sellers were putting strong pressure on clients, trying to apply price increases after the United States market reached settlements for November with increases of $20 per gross ton in prime scrap grades, and $40-60 per gross ton on most obsole...Read More
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"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...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 Russian Federation's Ministry of Finance is preparing a list of machine-building plants to be excluded from a liquid steel excise tax, Aleksey Sazonov, Russian Federation deputy minister of Finance said on November 8 during a State Duma committee meeting on budget and taxes."A number of Russian machinery-building plants have their own small steelmaking capacities...They will be excluded from e...Read More
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"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More
Prices for flat steel products continued to increase in Russia's Central Federal District around Moscow during the quiet holiday week ended Monday November 8, on limited offers from the mills, sources have told Fastmarkets.Some believed that prices have reached their peak and would remain flat until the end of the year, due to rumors about planned short-term maintenance stoppages at mills and the...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
Canada's First Cobalt Corp will expand its Ontario facilities to produce a range of precursor battery materials and to recycle lithium-ion batteries, it said.The Toronto-listed cobalt producer, which is North America's only cobalt refinery, also plans - subject to shareholder approval - to change its name to Electra Battery Materials to better reflect its new strategy, it also said. First Co...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...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