The Commonwealth of Independent States' export prices for hot-rolled coil increased during the week ended Monday November 1, but market activity was weak, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $870-880 per tonne on November 1, rising from $850-870 per tonne on October 25.Offers from Ukraine to Turkey were at $900-910...Read More
Domestic prices for hot-rolled coil increased across the European Union during the week to Friday October 29, despite limited trading activity in the spot market.European steelmakers have been focused on settling long-term agreements with big buyers, such as the automotive and white goods sectors. As a result, they have not been active in the spot market.At the end of last week, ArcelorMittal anno...Read More
The carbon footprint of finished nickel produced at Vale's Long Harbour processing plant, in the Canadian eastern Newfoundland and Labrador province, has been certified to be significantly below the global average, the Brazilian company said on Monday November 1.This grants Vale an advantage in supplying North American and European markets with low-carbon nickel for the next generation of electric...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Spot prices for hot-rolled coil in China continued to fall on Monday November 1, with market sentiment subdued by continued declines in coal futures prices and weak economic data.DomesticEastern China (Shanghai): 5,230-5,300 yuan ($817-828) per tonne, down by 40-100 yuan per tonneSpot HRC prices in the domestic market slipped to their lowest since May 26 on Monday, while the most-traded HRC contra...Read More
The latest data for the global manganese ore market for the week ended Monday November 1.Read More
Turkish steel producers were quiet in the deep-sea scrap markets on Monday November 1, following the national holiday period in the country, market sources said.The most recent cargo deal was recorded last Tuesday, when a steel mill in the Marmara region booked a cargo from the United States comprising 20,000 tonnes of heavy melting scrap 1&2 (90:10) and 10,000 tonnes of shredded at an average pri...Read More
China's domestic rebar prices dropped on Monday November 1 after the release of a lower steel industry purchasing managers' index.DomesticEastern China (Shanghai): 5,120-5,150 yuan ($799-804) per tonne, down by 100 yuan per tonneThe PMI for the steel industry was 38.3 points in October, down by 6.7 points from September, according to the China Federation of Logistics & Purchasing's Steel Logistic...Read More
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....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 fr...Read More
China's domestic rebar prices dropped on Monday November 1 after the release of a lower steel industry purchasing managers' index.DomesticEastern China (Shanghai): 5,120-5,150 yuan ($799-804) per tonne, down by 100 yuan per tonneThe PMI for the steel industry was 38.3 points in October, down by 6.7 points from September, according to the China Federation of Logistics & Purchasing's Steel Logistic...Read More
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....Read More
China's domestic rebar prices dropped on Monday November 1 after the release of a lower steel industry purchasing managers' index.DomesticEastern China (Shanghai): 5,120-5,150 yuan ($799-804) per tonne, down by 100 yuan per tonneThe PMI for the steel industry was 38.3 points in October, down by 6.7 points from September, according to the China Federation of Logistics & Purchasing's Steel Logistic...Read More
The CIS export slab market was quiet in the week to Monday November 1 because most mills were absent from the market.No fresh offers were heard from Russian suppliers in the Black Sea basin, while local sources reported that the country is on lockdown until November 7, reducing trading activity.In the Far East...Read More
Prices in the Commonwealth of Independent States' export long steel market continued to grow in the week to Monday November 1, mainly due to higher offers from Ukraine because the country still has most of its quota allocation available for the fourth quarter in Europe.Meanwhile, Russian suppliers have almost fulfilled up their rebar quota and their wire rod quota has been completely exhausted.&nb...Read More
EN+ group IPJSC and SUAL Partners Limited, the two largest shareholders of aluminium producer UC Rusal, announced their joint support for de-mergering Rusal's high-carbon businesses.Rusal announced in May it intended to pursue a demerger of its higher-carbon assets via the creation of two different businesses with separate strategies.The announcement said the demerger is still awaiting further dec...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
The CIS export slab market was quiet in the week to Monday November 1 because most mills were absent from the market.No fresh offers were heard from Russian suppliers in the Black Sea basin, while local sources reported that the country is on lockdown until November 7, reducing trading activity.In the Far East...Read More
Market participants in the European Union expressed uncertainty on how the flow of European-produced aluminium to the United States will be impacted by a deal to between the US and EU to replace Section 232 import tariffs with a tariff-rate quota (TRQ) system."The news is still fresh and it is not clear yet what it means for the market," one European trader told Fastmarkets."On the European side,...Read More