Iron ore prices were largely down on Thursday October 28, after a dip in demand following the introduction of stricter emissions restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $112.65 per tonne, down $7.21 per tonne62% Fe low-alumina fines, cfr Qingdao: $115.25 per tonne, down $6.90 per tonne58% Fe fines high-gr...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
Demand and prices for alumina in China were in limbo this week because market participants have become cautious after a steep decline in downstream aluminium prices, Fastmarkets heard on Thursday October 28.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-650) per tonne on Thursday, flat from a week earlier.Domestic demand for alumina in...Read More
Prices for pig iron originating from the Black Sea basin continued to grow in late October, supported by limited availability of the material.Most producers continued to stay away from the market to better assess the situation. Some of their facilities were on maintenance.A supplier from Eastern Ukraine was said to have increased offers for its material to $550-560 per tonne fob, following last we...Read More
The price assessment for imported billet into Egypt decreased in the week to Thursday October 27, but local rebar prices widened upward on higher offers, sources told Fastmarkets.Local rebar producers increased their prices, effectiveOctober 20.Current offer prices for rebar range from E ?14,900 to15,350 ($946-975) per tonne ex-works including 14% VAT.Demand failed to improve in the country, howev...Read More
Norwegian aluminium and renewable energy company Norsk Hydro is looking at ways to use less-clean scrap in low-carbon ingot production, according to chief executive officer Hilde Merete Aasheim.Aasheim was speaking to Fastmarkets in an exclusive interview on Tuesday October 26, after the company announced record third-quarter results for its aluminium business."For us, profitability and sustainabi...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 28 that are worth another look.The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019. Brazilian miner Vale will resume activities...Read More
A summary of Swedish state-owned iron-ore producer LKAB's financial results for the third quarter of 2021, ending September 30In brief LKAB continued to deliver historically high operating profits in July-September 2021 amid strong demand from steelmakers and high iron ore prices. Fastmarkets' iron ore index for 62% Fe fines, cfr Qingdao averaged at $163.39 per tonne in the third quarter of...Read More
The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 28 that are worth another look.The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019. Brazilian miner Vale will resume activities...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
Base metals prices on the London Metal Exchange were up across the board at the 5pm close of trading on Thursday October 28, continuing to rebound following a recent period of widespread selling."Given the [recent] price action, this Friday's week- and month-end closes should be important to determine whether we see some longer-term length liquidate," Alastair Munro, LME desk analyst at Marex, sai...Read More
Demand and prices for alumina in China were in limbo this week because market participants have become cautious after a steep decline in downstream aluminium prices, Fastmarkets heard on Thursday October 28.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-650) per tonne on Thursday, flat from a week earlier.Domestic demand for alumina in...Read More
For anyone purely judging manganese ore supply in China by looking at port stocks, he or she could misread the market supply picture due to rising "invisible stocks" in the past one to two months, sources told Fastmarkets. Typically, ore stocks are either stored at ports or held by producers at their warehouses or local storage sites. While port stocks are visible and measurable, the latter can be...Read More
A healthy price arbitrage for Japanese hot-rolled coil producers to export into steel markets in the Americas has enabled these mills to keep raising their steel scrap buying prices in recent months, sources told Fastmarkets.Japanese HRC exports to the Americas totaled 1.36 million tonnes in January-August 2021 under HS codes 7208 and 722530, up by 37.6% year on year, according to statistics from...Read More
A summary of Newmont Corp's production report for the three months ended September 30.In brief: Newmont's operations were affected by the Covid-19 pandemic, and several of the company's mines - Musselwhite and ??l?(C)onore in Canada, Pe??asquito in Mexico, Yanacocha in Peru and Cerro Negro in Argentina - were temporarily placed on care and maintenance during a portion of the three and nine months...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
Demand and prices for alumina in China were in limbo this week because market participants have become cautious after a steep decline in downstream aluminium prices, Fastmarkets heard on Thursday October 28.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-650) per tonne on Thursday, flat from a week earlier.Domestic demand for alumina in...Read More
Steel wire rod producers in Southern Europe have tried to increase offer prices this week, despite buyer resistance, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, remained at ?,?760-800 ($882-928) per tonne on Wednesday, October 27. ItalyIn Italy, wire rod was heard traded at ?,?760-770 per tonne delivered...Read More
ArcelorMittal has raised its offer prices for long-term contracts to the automotive industry and other large steel-consuming sectors, sources told Fastmarkets on Thursday October 28.Several market sources told Fastmarkets that its offers for the first quarter, first half and full year of 2022 for hot-rolled coil are ?,?1,080 ($1,253) per tonne ex-works while those for hot-dipped galvanized coil ar...Read More