Maree Robertson, chief financial officer at Rio Tinto's energy and minerals branch, will become senior vice president and chief financial officer at the international mining company Freeport-McMoRan, the company said on Tuesday November 2.The appointment will become effective on March 1, 2022.Robertson will assume responsibility for Freeport's accounting, finance and tax functions, including finan...Read More
A summary of North America-based aluminium products manufacturer Arconic's third-quarter 2021 financial results, released on Tuesday November 2.In brief: Global aluminium products manufacturer Arconic reported a 34% increase in total sales during the third quarter of 2021 when compared with the same quarter last year. Sales are up by 5% quarter on quarter. The company primarily attributed the high...Read More
Bearish macroeconomic indicators pushed prices to trade lower on the London Metal Exchange on Tuesday November 2.Chinese manufacturing purchasing managers' indices (PMI) in recent days have indicated slower growth month on month, which has helped to drive bearish sentiment in the metals market. "It does look as though some major parts of China's economy are struggling," Fastmarkets' head of...Read More
Continued declines in the Chinese steel billet market have caused many Southeast Asian buyers to shy away from importing the semi-finished product this week, sources told Fastmarkets on Tuesday November 2.Chinese billet import prices continued to crash on Monday and Tuesday, led by weakening ferrous futures markets across the Shanghai Futures Exchange (SHFE), together with growing volumes of iron...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More
Seaborne coking coal prices were relatively stable on Tuesday November 2, with no trades heard in the market, although Chinese domestic coke prices in certain provinces started to fall due to rising inventories and reduced costs.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, unchangedHard coking coal, cfr Jingtang: $525.23 per tonne, unchangedPremium hard coking coal...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...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
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Bearish macroeconomic indicators pushed prices to trade lower on the London Metal Exchange on Tuesday November 2.Chinese manufacturing purchasing managers' indices (PMI) in recent days have indicated slower growth month on month, which has helped to drive bearish sentiment in the metals market. "It does look as though some major parts of China's economy are struggling," Fastmarkets' head of...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
An overview of the chrome ore and alloy markets and their latest price moves in Asia, Europe and the United States on Tuesday November 2.China Alloy market sentiment strengthened after steel mill Tsingshan increased its November ferro-chrome tender prices by 500 yuan ($78) per tonne month on month. Prices of imported charge chrome rose, with some stainless steel mills needing to secure near-t...Read More
Prices for steel scrap imported into China decreased sharply due to the continued drop in both spot and futures prices for finished steel products in the country on Tuesday November 2, sources told Fastmarkets.China import price tumbles amid bearish sentiment dominating the steel marketsChinese mills cut domestic scrap buy prices againTaiwan secures containerized scrap cargoes at $475 per tonne cf...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly weaker on the morning of Tuesday November 2, with concerns about headwinds affecting the Chinese economy denting sentiment. A 9.9% price drop in the January iron ore futures contract on the Dalian Commodity Exchange is weighing on sentiment. Iron ore prices were recently at 567 yuan ($89) per tonne, down fro...Read More
Prices for steel scrap imported into China decreased sharply due to the continued drop in both spot and futures prices for finished steel products in the country on Tuesday November 2, sources told Fastmarkets.China import price tumbles amid bearish sentiment dominating the steel marketsChinese mills cut domestic scrap buy prices againTaiwan secures containerized scrap cargoes at $475 per tonne cf...Read More
Rebar and billet prices decreased slightly in the United Arab Emirates because some mills discounted their prices, sources told Fastmarkets on Tuesday November 2.Demand for rebar has improved week on week because prices have now been announced, sources added.Domestic rebarLocal rebar mills announced new prices on October 24.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne e...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
China's Ganfeng Lithium and its subsidiary GFL International will supply United States-based automaker Tesla with battery-grade lithium hydroxide for three years, Ganfeng announced on November 1.The contract will run from January 1, 2022 until December 31, 2024, Ganfeng announced in a filing on the Shenzhen Stock Exchange.Purchase quantities and sales are not fixed and will be subject to Tesla's.....Read More
Rebar and billet prices decreased slightly in the United Arab Emirates because some mills discounted their prices, sources told Fastmarkets on Tuesday November 2.Demand for rebar has improved week on week because prices have now been announced, sources added.Domestic rebarLocal rebar mills announced new prices on October 24.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne e...Read More