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
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...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
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
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...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
Buyers in Taiwan continued to bid at higher prices for containerized steel scrap cargoes on Tuesday October 26, but there were expectations on the sell-side that the market would stabilize this week, sources told Fastmarkets.?EUR?Taiwanese buyers bid higher for containerized cargoes?EUR?South Korean mills raise bid prices for higher-grade materials?EUR?Major Chinese steelmakers reduce domestic scr...Read More
Hot-rolled coil prices in the United States rebounded on Tuesday October 26, with buyers still finding mills unwilling to budge on higher price levels despite reports of softness.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.43 per hundredweight ($1,908.60 per ton) on Tuesday October 26, up by 2.12% from $93.45 per cwt on Monday October 25 but down by 0.50% from...Read More
Miner Sibanye-Stillwater has acquired Brazilian companies Atlantic Nickel and Minera????o Vale Verde (MVV) from Appian Capital Advisory LLP for $1 billion and an additional royalty, the companies have said.The deal will give Sibanye-Stillwater 100% ownership of both the Santa Rita nickel mine operated by Atlantic Copper, and the Serrote copper mine operated by MVV.Appian will receive $1 billion in...Read More
Sales volumes from Brazilian flat-rolled steel distributors decreased by 27.69% in September, compared with the corresponding month last year, national distributor association Inda said on Tuesday October 26.There was a much stronger base of comparison this year compared with 2020, when the market was rapidly recovering from lows caused by the Covid-19 pandemic.Sales totaled 291,500 tonnes in Sept...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
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
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
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
China imported 20,519 tonnes of ferrous scrap in September, a 49.39% drop compared with August's 40,540 tonnes, according to the latest Chinese customs data.Of the total, 11,750 tonnes, or 57.27%, originated in Japan.South Korea remained China's second-largest scrap supplier in September, accounting for 2,170 tonnes (10.58%) of imports.Canada with 1,621 tonnes, or 7.90% of the total, and Taiwan wi...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 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
Guidance for China to achieve its carbon emissions peak by 2030 and carbon neutrality by 2060 was jointly released by the Central Committee of the Communist Party of China and the State Council on Sunday October 24.The guidance specifies that by the year 2025, China's energy consumption per unit of gross domestic product will be reduced by 13.5% from 2020 levels, carbon dioxide (CO2) emissions per...Read More
Bids for spodumene concentrate reached $2,350 per dry metric tonne (dmt) on Tuesday October 26, at Pilbara Minerals' third auction via its Battery Material Exchange (BMX) platform, sources told Fastmarkets.The bids were for 10,000 dmt of spodumene concentrate (SC 5.5%) on an fob Port Hedland basis, with shipment in February 2022, according to market participants. The previous...Read More
China's imports of billet and slab increased in September from a month earlier but volumes were down year on year, according to the latest customs data.Billet imports totaled 1.13 million tonnes in September, up by 33% from 847,126 tonnes in August but down by 18% from September 2020.Fastmarkets' price assessment for steel billet, import, cfr China averaged $700 per tonne in July and $686 per tonn...Read More