French metal and mining group Eramet is combining with Chinese stainless steel producer Tsingshan to restart a lithium plant in Argentina, Eramet said on Monday November 8.The lithium project is in the Centenario Ratones salar (salt desert) in the province of Salta, in the north of Argentina, according to Eramet's presentation.The Centenario Ratones project has estimated capacity for 24,000 tonnes...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
Brazilian steel slab export prices remained stable in the week ended Friday November 5, with no fresh deals heard and negotiations for January shipments still proceeding at a slow pace.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $730-740 per tonne on Friday, unchanged from the previous week.The higher end of the assessment corresponded to prices in the...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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 standard grade, in-whs Rotterdam, $/lb...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 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
Details of new investment by Egypt's Ezz Steel, including the possible acquisition of a stake in another steel company, will be disclosed in a timely manner after financial evaluation and legal audit are completed, the company said in a statement to the country's stock exchange on Sunday November 7.There were rumors in the Egyptian steel market that Ezz Steel, the country's biggest steel producer,...Read More
Spot prices for hot-rolled coil in China dipped on Monday November 8 after the futures market fell to a new nine-month low in response to Tangshan lifting some of its production curbs for fighting heavy air pollution. DomesticEastern China (Shanghai): 4,950-4,960 yuan ($774-775) per tonne, down by 10-40 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange dropped to a trough...Read More
The gap between offers and bids for long steel products from the Commonwealth of Independent States widened in the week to Monday November 8, with higher offers from Ukrainian mills but reduced availability of material.Russian mills were mostly absent from the export business due to the current favorable conditions in their local market.Meanwhile, bids from customers and estimates of workable pric...Read More
End-user demand for rebar in China's domestic market decreased on Monday November 8 on adverse weather, though prices picked up on rising futures. Domestic Eastern China (Shanghai): 4,900-4,980 yuan ($766-778) per tonne, up by 20-70 yuan per tonneLarge parts of China have been experiencing a cold wave since last Friday, causing snow in the northern region and strong winds in the...Read More
London Metal Exchange futures prices remained under pressure from a strong US Dollar Index amid rising concerns over the potential impact on demand of a resurgence in Covid-19 in Europe and China.Zinc's three-month price was the most affected, down by 1.1% on Monday at 9am to $3,190 per tonne - from $3,228.50 per tonne last Friday. Last week, the galvanizing metal was down 4.7%, with trading...Read More
Key data from Fastmarkets' pricing session in Europe on Friday November 5.Key drivers?EUR?There were higher bids for gallium in the market but producers seemed reluctant to sell. Some producers declined bids that were higher than the current price, believing that the price would continue to rise.?EUR?The metal's price...Read More
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
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
BHP has signed an agreement to sell its 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd as part of its decarbonization plan, the Anglo-Australia multinational announced on Monday November 8.BMC comprises the Poitrel and South Walker Creek operations, Red Mountain Infrastructure and the Wards Well development in Queensland, Australia. Stanmore SMC Holdings Pty Ltd has agreed...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
Aluminum producer Alcoa plans to restart some curtailed capacity at its Portland Aluminium joint venture in Victoria, Australia, with more production at the smelter set to come online in the third quarter of 2022, the company said on Sunday November 7.The process to restart the additional capacity, idled since 2009 and totaling 35,000 tonnes per year, will begin immediately, the United States-head...Read More
BHP has signed an agreement to sell its 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd as part of its decarbonization plan, the Anglo-Australia multinational announced on Monday November 8.BMC comprises the Poitrel and South Walker Creek operations, Red Mountain Infrastructure and the Wards Well development in Queensland, Australia. Stanmore SMC Holdings Pty Ltd has agreed...Read More
The gap between offers and bids for long steel products from the Commonwealth of Independent States widened in the week to Monday November 8, with higher offers from Ukrainian mills but reduced availability of material.Russian mills were mostly absent from the export business due to the current favorable conditions in their local market.Meanwhile, bids from customers and estimates of workable pric...Read More
Seaborne iron ore concentrate and pellet prices fell during the week to Friday November 5 amid weaker demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $55.70 per tonne, up by $8.60 per tonne66% Fe concentrate, cfr Qingdao: $117.73 per tonne, down by $19.75 per tonne65% Fe blast furnace pellet, cfr Qingdao: $169.69 pe...Read More