Hyperloop systems currently under development could use advanced steels to increase their efficiency in the future, ArcelorMittal researchers said in a paper released by the steelmaker this week."Advanced steels offer high resistivity and less overheating, which is important for systems such as the Hyperloop, which uses a maximum-efficiency design approach," the researchers said.Hyperloop systems...Read More
China imported 5.90 million tonnes of coking coal in October, an increase of 3.6% from 5.69 million tonnes a year earlier, Chinese customs data showed.Last month's imports are down by 12.2% month on month, however.Coking coal imports in October were valued at nearly 3.8 billion yuan ($578 million), down by 22.5% year on year and 10.4% lower month on month, according to the customs data.Of the 5.90...Read More
Import prices for flat-rolled steel continued to rise in South America during the week ended on Friday November 27, with Chinese mills presenting higher offers and clients rushing to settle the last deals for January-shipment cargoes.The prices on products from all origins also edged up, and lower availability supported those higher prices, according to market participants.Buyers were now bracing...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Cristina Belda and Declan Conway contributed to this...Read More
Global ferrous scrap prices continued on an upward trend due to supply tightness and strong demand by steelmakers in the week ended Friday November 27.Strong demand in Turkey to feed domestic, export marketsLimited transactions in US because of Thanksgiving holidayStrong demand in Vietnam on supply shortageContainer shortages in Taiwan support import pricesIndian prices move upward once more.Turke...Read More
Copper's three-month price was the star performer on Friday November 27, rising by nearly 4.5% from Monday's closing price, with most other base metals managing to set fresh year-to-date highs. Copper's 5pm closing price was $7,499.50 per tonne on Friday, rising by 1.3% day on day and up 4.48% from Monday's closing price of $7,117.50 per tonne.Earlier in the day it&nb...Read More
With just 35 days remaining until the United Kingdom withdraws from the European Union, the country's potential departure from the EU single market could see its domestic aluminium scrap market face business-critical trade barriers that, according to market participants, would send the UK's scrap industry hurtling backwards.The EU's import duties range from 3% to 6% for aluminium products from non...Read More
Copper's three-month price was the star performer on Friday November 27, rising by nearly 4.5% from Monday's closing price, with most other base metals managing to set fresh year-to-date highs. Copper's 5pm closing price was $7,499.50 per tonne on Friday, rising by 1.3% day on day and up 4.48% from Monday's closing price of $7,117.50 per tonne.Earlier in the day it&nb...Read More
Iron ore prices increased further on Friday November 27, supported by declining port inventories and strong demand for steel, sources told Fastmarkets,Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.62 per tonne, up $1.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $129.84 per tonne, up $1.74 per tonne58% Fe fines high-grade premium, cfr Qingdao: $121.38 per tonne,...Read More
Seaborne coking coal prices across the board remained relatively flat on Friday November 27, with trading active in the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $101.07 per tonne, down $0.47 per tonnePremium hard coking coal, cfr Jingtang: $164 per tonne, unchangedHard coking coal, fob DBCT: $90.03 per tonne, unchangedHard coking coal, cfr Jingtang: $154.11 p...Read More
The price for pig iron exports from Brazil increased further during the week to Friday November 27 on sales to the United States, Fastmarkets has heard.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $405 per tonne on Friday, up from $390-395 per tonne a week before.A sale was done to the US, where buyers needed to...Read More
Turkish steel mills continued their deep-sea scrap bookings for January shipment and prices continued to climb on Friday November 27, supported by strong demand in the country's finished steel markets.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $350.50 per tonne and 7,000 tonnes of bonus scrap at $360.50 per tonne cfr.And a steel...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Fastmarkets has corrected its daily aluminium arbitrage calculation, which was published incorrectly on Thursday November 26 due to a reporter error. Fastmarkets' aluminium import arbitrage dollar per tonne calculation [MB-AL-0289] should have been $46.93 per tonne, rather than the $75.18 per tonne published. Fastmarkets' aluminium import arbitrage yean per tonne calculation [MB-AL-0290]...Read More
Fastmarkets' copper concentrates treatment charge/ refining charge (TC/RC) index fell to an all-time low since 2013 in the week to Friday November 27. Offers to smelters were maintained in the $40s with purchases reported in the high $40s for 2021 January shipment and the low $50s for slightly complex concentrates, which were excluded from the index calculation. Only hand-to-mouth purchases w...Read More
Except lead and tin, base metals' deliverable stocks in Shanghai Futures Exchange-registered warehouses declined in the week to Friday November 27, with nickel inventories down by 7.7%, the highest decline in percentage terms. Nickel stocks fell by 1,944 tonnes week on week to 23,406 tonnes, with the largest outflow of 1,036 tonnes leaving Zhongchu Dachang warehouse in Shanghai, which reported sto...Read More
Copper and nickel continued their bullish momentum on Friday morning, with the red metal surpassing $7,500 per tonne - a price last seen in June 2013.Copper's three-month price was at $7,495 at 9:05am, but it rose in the minutes that followed to a high of $7,511 per tonne, surpassing a high intraday price of $7,500 per tonne last recorded on June 5 2013. Compared with Thursday's closing...Read More
One consumer and several trading houses in Japan confirmed they received offers for the first-quarter 2021 supply of aluminium to main Japanese ports (MJPs) from two producers at a premium of $138 per tonne over the London Metal Exchange cash price, market sources said on Friday November 27.Offers at $138 per tonne are 57.8% higher than the cif MJP premium for the fourth quarter of 2020, which set...Read More
The base metals remain buoyant on good volumes this morning, Friday November 27, but equity indices were looking mixed.Chinese industrial profits surged by 28.2% year on year in October - the fastest pace since early 2017 Base metals The three-month base metals prices on the London Metal Exchange were up across the board this morning with gains averaging 0.5% - led by a 0.9% rally in nickel to $16...Read More
Mexican steel company Grupo Acerero del Norte (GAN), which controls integrated steelmaker Altos Hornos de M?(C)xico (Ahsma), has authorized further negotiations for a potential partnership with Grupo Villacero.The partnership would aim to recapitalize the company, and would be subject to approval by Mexican competition regulator Cofece. Approval was granted by a shareholders' meeting on Thursday N...Read More