Here are five Fastmarkets stories you might have missed on Friday October 22 that are worth another look.Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Vale...Read More
Here are five Fastmarkets stories you might have missed on Friday October 22 that are worth another look.Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Vale...Read More
Mexico's Altos Hornos de M?(C)xico (Ahmsa) is considering seeking Chapter 11 bankruptcy protection for its Minera del Norte thermal coal subsidiary, after a Mexican commission canceled state supply contracts, the company said on Thursday October 21.Minera del Norte - also known as Minosa - is a wholly-owned subsidiary of the Mexican steelmaker and has the capacity to produce 6.6 million tonnes per...Read More
Russia's Metalloinvest plans to construct the world's biggest hot-briquetted iron (HBI) facility, to help speed up the transition to green steel production, the company said this week.Technology provider Midrex Technologies and engineering company Primetals will supply the new HBI Plant (HBI-4) at Lebedinsky GOK (LGOK), Metalloinvest said. The plant will be built at Gubkin in west Russia, and will...Read More
U.S. equity index futures were higher this morning. S&P 400 futures were up 7 points in pre-opening trade.Bausch Health gained US$0.41 to $29.13 after receiving FDA approval for XipereRestaurant Brands International added $0.47 to Cdn$76.59 after reporting higher than consensus third quarter earnings. Alibaba slipped $0.40 to $174.00 after Truist lowered its target price from $260 to $230.Cela...Read More
Mexico's Altos Hornos de M?(C)xico (Ahmsa) is considering seeking Chapter 11 bankruptcy protection for its Minera del Norte thermal coal subsidiary, after a Mexican commission canceled state supply contracts, the company said on Thursday October 21.Minera del Norte - also known as Minosa - is a wholly-owned subsidiary of the Mexican steelmaker and has the capacity to produce 6.6 million tonnes per...Read More
Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.Following more ambitious climate targets by governments, Rio Tinto is revising its emissions reduction targets. Its new target is to reduce its Scope 1 & 2 carbon emissions of the greenhouse gas (GHG) Protocol by 50% by 2030, more than triple...Read More
Russia's Metalloinvest plans to construct the world's biggest hot-briquetted iron (HBI) facility, to help speed up the transition to green steel production, the company said this week.Technology provider Midrex Technologies and engineering company Primetals will supply the new HBI Plant (HBI-4) at Lebedinsky GOK (LGOK), Metalloinvest said. The plant will be built at Gubkin in west Russia, and will...Read More
European trade groups warned about the potentially "catastrophic impact" of a Chinese magnesium supply shortage on metals producers in the region, calling on the European Commission and national governments to take immediate action to mitigate the risks to industry.The groups - European Aluminium, European steel association Eurofer, European Automobile Manufacturers' Association, European metals a...Read More
The price for grade 18/8 alloy steel scrap increased due to higher nickel costs, while underlying market fundamentals remained stable, sources told Fastmarkets on Friday October 22.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,340-1,440 ($1,850-1,988) per tonne on Friday, up by ?10-40 per tonne from ?1,330-1,400 per tonne the...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 22.Susan Zou, Yingchi Yang and...Read More
Base metals prices on the London Metal Exchange were mainly stronger during morning trading on Friday October 22, but those on the Shanghai Futures Exchange were largely down - this follows significant losses on the LME on Thursday.Chinese property giant Evergrande Group makes a dollar bond interest payment.US treasury yields up sharply following better-than-expected US initial jobless claims data...Read More
London Metal Exchange base metals prices were mostly lower at the 5pm close on October 22, with investors looking to book profits from peaks reached earlier in the week. Aluminium's three-month price rolled back most of the gains made so far this month, with its closing price on Friday at 5pm, at $2,868 per tonne, being the lowest since October 6, with more than 37,000 lots traded. The metal...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 22.Susan Zou, Yingchi Yang and...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday October 22. China ?EUR?The price of ferro silicon in China continued to narrow downward following a correction in a previous rally, with many market participants taking a wait-and-see attitude toward the market and an expected steel mill tender in late October. ?EUR?Overall supply was still tight, howeve...Read More
Fastmarkets has corrected its trioxide grade and standard grade antimony prices, in warehouse Rotterdam, which were incorrectly published on Friday October 22 due to a reporter error.The price for MB-SB-0001 Antimony, max 100 ppm Bi, in-whs Rotterdam, has been changed to $12,900-13,500 per tonne, from an incorrectly published price of $13,300-13,500 per tonne.And the price for MB-SB-0002 Antimony...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 22.China Higher port prices and the likelihood of fewer shipments arriving in the coming months supported buying sentiment in the seaborne manganese ore market. Portside low- and high-grade manganese ore markets extended their rallies amid firm sentiment among suppliers, but buying appetites...Read More
Vale has restarted a conveyor belt at its Salobo copper mine in Brazil following an 18-day stoppage due to a fire, the multi-metal producer said on Friday October 22.Activities at the site's processing plant resumed on Friday, and the company will subsequently ramp up copper concentrate output on Monday October 25.An estimated 8,000 tonnes of copper production was lost because of that downtime, Va...Read More
European trade groups warned about the potentially "catastrophic impact" of a Chinese magnesium supply shortage on metals producers in the region, calling on the European Commission and national governments to take immediate action to mitigate the risks to industry.The groups - European Aluminium, European steel association Eurofer, European Automobile Manufacturers' Association, European metals a...Read More
Ferrous scrap prices in the global markets continued to strengthen in the week ended Friday October 22 amid firm demand and tight supply. Turkish steel mills continued to pay higher prices for deep-sea scrap cargoes, while buyers in Southeast Asia had to raise their bids because of limited supply.?EUR?Turkish steel mills end the week with five deep-sea cargo trades, prices up?EUR?Tight supply in t...Read More