Prices for aluminium P1020A cargoes offered into China have come down from multi-year highs because of a marked decline in demand, an uncertain near-term outlook and the closure of the London-Shanghai arbitrage window, Fastmarkets heard on Wednesday October 27.Fastmarkets' latest monthly assessment of the aluminium P1020A premium, cif Shanghai, was $130-140 per tonne on Tuesday, down from a six-ye...Read More
Seaborne iron ore prices inched downward on Wednesday October 27 because most market participants were cautious about procurement amid the generally weak demand outlooks for the rest of 2021, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.86 per tonne, down by $2.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $122.15 per tonne, down by $1.96 per tonne58% Fe fin...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
A weakening import billet market in Asia, particularly China - which has been one of the main destinations for CIS-origin material this year - has forced CIS mills to seek support in nearer markets.Interest in import billet dropped sharply in China over the past ten days following a crash in rebar futures prices due to lower demand for long steel products in the country.In such conditions, traders...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
A summary of the operational results for Russia's largest steelmaker, Novolipetsk Steel (NLMK), which also has assets in Europe and the United States, for the third quarter (July-September) of 2021In brief?EUR? In the third quarter, NLMK's consolidated sales decreased by 4% compared with the second quarter, to 4.1 million tonnes amid steel output reductions at its Russian flat steel division.?EUR?...Read More
International cobalt spot metal prices have trended upward since the beginning of September, with sellers keeping the material in tight hands and offering aggressively, sources said. Meanwhile, the "mating season" is in full swing and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.Fastmarkets' benchmark price assessment for cobalt standard g...Read More
Mexican ferrous scrap prices declined again over the past week, with lower prices becoming more widespread among buyers in the country's two main markets, sources told Fastmarkets.But market participants believe prices are close to reaching a bottom, with some buyers having difficulty securing deals at lower prices."We continued to see low prices, but it seems that prices are reaching a minim...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
The aluminium industry could reduce the carbon intensity of its metal production to under one tonne by 2050 if it works towards limiting the rise in the mean global temperature to 1.5 ?C above pre-industrial levels, the International Aluminium Institute (IAI) said.In this 1.5 ?C scenario, carbon intensity would fall from an average of 16.1 tonnes of carbon dioxide (CO2) per tonne of aluminium curr...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia decreased or were unchanged during the week ended Tuesday October 26, with only one deal heard, sources told Fastmarkets.Offer prices decreased from India during the week, and Saudi Arabia also offered hot-rolled coil at reduced prices to the UAE."Everyone is in wait-and-see mode," one trader said. "With the Chinese futures ma...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 October 26.Europe The ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe soared to $3.43-3.75 per lb Cr, a rise of 38-50 cents (14%) over the previous two weeks to set a multi-year high. The market has become extremely tight, with some sellers not offering on th...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
Chinese nickel products producer Lygend Mining has started trialing its second autoclave for mixed hydroxide precipitate (MHP) at its Halmahera Persada Lygend (HPAL) project in Indonesia, it said on Sunday October 24. The move is part of the project's first phase of operations, which has a target capacity of 36,000 tonnes of MHP. The first autoclave has been in production since May.A second phase,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
The seaborne manganese ore market strengthened further in the week to Friday October 22, with sentiment supported by price increases at Chinese ports so far this month that has improved demand despite a recent downward correction of silico-manganese prices.Prices at Chinese ports consolidated their increases, with suppliers citing tighter supply and financial losses they had incurred in the first...Read More
A summary of Norwegian aluminium and energy company Hydro's third-quarter results.In brief Hydro's third-quarter adjusted earnings before income tax depreciation and amortization (Ebitda) was 7,219 million Norwegian krone ($862 million), compared with 3,100 million krone in the same quarter last year. This was due to higher all-in metal and alumina prices, as well as improved upstream volumes, but...Read More
International cobalt spot metal prices have trended upward since the beginning of September, with sellers keeping the material in tight hands and offering aggressively, sources said. Meanwhile, the "mating season" is in full swing and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.Fastmarkets' benchmark price assessment for cobalt standard g...Read More