Domestic prices for hot-rolled coil increased across the European Union during the week to Friday November 5, despite slow trading activity in the spot market.Despite the lack of trading, sentiment remains positive in anticipation of restocking by distributors, upward pressure on prices from high energy and transport costs, and because of the agreement reached between the United States and the EU...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 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
Chinese battery materials producer Huayou Cobalt has signed a cooperation framework agreement with Shanghai-listed Hubei Xingfa Chemicals Group Co Ltd to produce the raw materials for lithium iron phosphate (LFP) batteries.On Sunday November 7, Huayou Cobalt announced that the two companies will work together to build an integrated system that incorporates the selection and mining of phosphate ore...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Monday November 8, but those on the Shanghai Futures Exchange were mainly firmer as they followed the strength seen on the LME on Friday.US Congress' passing of the long-awaited infrastructure bill bodes well for the metals Chinese trade data show a record surplus, but weaker than expected imports highlight weaker...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
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.U.S. equity index futures were virtually unchanged following release of the October Producer Price Index at 8:30 AM EDT. Consensus calls for an increase of 0.6% versus a gain of 0.5% in September. Actual was an increase of 0.6%. Excluding food and energy, consensus was an increase of 0.5% ver...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Monday November 8, but those on the Shanghai Futures Exchange were mainly firmer as they followed the strength seen on the LME on Friday.US Congress' passing of the long-awaited infrastructure bill bodes well for the metals Chinese trade data show a record surplus, but weaker than expected imports highlight weaker...Read More
The domestic market for hot-rolled coil in Europe remained quiet on Monday November 8, with prices showing little change, sources told Fastmarkets.Producers were, however, looking to achieve higher prices for the first quarter of 2022 because of the surging costs for raw materials, transport and energy.Expected restocking activity at distributors was also supporting market sentiment. Notably, seve...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
(Recasts, updates prices) By Pratima Desai LONDON, Nov 8 (Reuters) - Copper prices rose on Monday asstrong export growth data from top consumer China, fallinginventories and the passing of a $1 trillion U.S. infrastructurebill boosted sentiment, though gains were capped by concern overChinese demand. Benchmark copper on the London Metal Exchange (LME)was up 1.2% at $9,637 a tonne at 1658 GMT. The...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More
The north China steel production hub of Handan city in Hebei province has implemented stricter production cuts at steel mills from Monday November 1 to November 7.The move has been made is to mitigate weather-influenced air pollution over the period and comes just after the city finished implmenting steel production curbs in September and October to limit the crude steel output in line with China'...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More
Steel prices in the United States are poised to continue decreasing at a slow pace in the coming months, Luxembourg-based steelmaker Ternium said on Wednesday November 3.Supply and demand fundamentals have started to normalize in the country, but remain far from balance, according to Ternium chief executive officer M??ximo Vedoya.Among the drivers for lower prices, the CEO cited capacity usage in...Read More