Turkish domestic scrap prices have increased during the week to Monday October 18 in line with rising imported scrap values, market participants said.Turkish steelmakers have been paying higher prices for deep-sea scrap in recent weeks due to limited supply and firm demand.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $489.99 per tonne on Mo...Read More
London Metal Exchange prices ended broadly lower on the afternoon of Monday October 18 after rising to new highs during the trading day, while copper spread backwardations reached previously unseen figures.Aluminium's three-month price, for example, reached a new year-to-date peak of $3,229 per tonne during the day but fell to $3,167 per tonne at the 5pm close, a small drop from its closing price...Read More
Argentinian aluminium producer Aluar will resume a quarter of its production capacity that has been restricted since the beginning of the Covid-19 pandemic after the federal government guaranteed power supply at lower costs, the company and the government said jointly on Wednesday October 13.That will amount to 106,000 tonnes of aluminium and result in 600 new direct and indirect jobs, they said....Read More
The latest data for the global manganese ore market for the week to October 18, 2021.Read More
Turkish domestic scrap prices have increased during the week to Monday October 18 in line with rising imported scrap values, market participants said.Turkish steelmakers have been paying higher prices for deep-sea scrap in recent weeks due to limited supply and firm demand.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $489.99 per tonne on Mo...Read More
Silicon sales upward of $5 per lb reported in Mexico and Canada indicate continued upward pressure on prices of the aluminium alloying metal in the United States, which reached another all-time high on Thursday October 14.Fastmarkets assessed the price of silicon, ddp US at $3.35-4.25 per lb on October 14, up by 18.75% from $2.90-3.50 per lb on October 7.This was the fourth week in a row...Read More
Giuseppe Pasini, chairman of Italy's Feralpi Group, one of the leading long steel manufacturers in the European Union, spoke with Fastmarkets' Julia Bolotova about the challenges facing the European steel sector and Feralpi's strategy in light of the EU's ambitious greenhouse emissions reduction goals and global trade restrictions.Energy crisis in EuropeThe recent jump in electricity and gas price...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally up strongly this morning, Monday October 18, with energy shortages and high energy prices continuing to affect supply. The market seems to be ignoring, for now, the weaker economic data out of China.China's gross domestic product climbed 4.9% in the third quarter, down from 7.9% in the second quarter.Autom...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Import prices for rebar into Singapore have increased following surges in offers by Turkish steel mills.Turkish steelmakers have increased offers to $770-780 per tonne cfr Singapore on a theoretical weight basis, following the rapid ascent of imported ferrous scrap prices.Middle Eastern producers in the Emirates and Qatar have also offered cargoes to Singapore at $745 per tonne cfr Singapore on a...Read More
Manganese ore prices at Chinese ports rose markedly in the week to Friday October 15 amid an improved demand outlook and easing production headwinds in some major alloy-producing regions.The price differential between low-grade and high-grade manganese ore grew to 8.50 yuan ($1.32) per dry metric tonne unit (dmtu) on Friday, the widest since Fastmarkets started assessing the markets in January 201...Read More
The total amount of lead held outside of the London Metal Exchange's warehouses fell by 77.6% over August, with most other metals also posting declines, according to the LME's latest report. After a small rise in July, the total amount of metal held outside of LME sheds was down by 150,694 tonnes to 813,916 tonnes in August. Lead had the biggest decrease - just 1,053 tonnes were left off-wa...Read More
Giuseppe Pasini, chairman of Italy's Feralpi Group, one of the leading long steel manufacturers in the European Union, spoke with Fastmarkets' Julia Bolotova about the challenges facing the European steel sector and Feralpi's strategy in light of the EU's ambitious greenhouse emissions reduction goals and global trade restrictions.Energy crisis in EuropeThe recent jump in electricity and gas price...Read More
Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said onMonday October 18 ."Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of [approximately] $13.5 billion (1.5 trillion yen) set aside for investm...Read More
China's domestic rebar prices dropped on Monday October 18 following the release of data by National Bureau of Statistics (NBS) showing a decrease in new housing starts.DomesticEastern China (Shanghai): 5,730-5,770 yuan ($890-896) per tonne, down by 30-40 yuan per tonneThe construction area of newly started houses came to 1.53 billion square meters in the first three quarters of 2021, down by 4.5%...Read More
Trading activity in the European hot-rolled coil market remained subdued on Monday October 18, with mills and buyers both holding back from trading, sources told Fastmarkets.Sentiment remains gloomy due to the drop in demand from the automotive segment. Auto-industry output - and, consequently, steel demand - has fallen due to a shortage of semiconductors. Market sources reported that mills supply...Read More
Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.The US automotive manufacturer expects power unit production to begin in mid-2024, with capacity planned to be around 250,000 units per year, it said in a release on Monday October 18.This vehicle transmission facility, which currently builds transmissions for several...Read More
Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.The US automotive manufacturer expects power unit production to begin in mid-2024, with capacity planned to be around 250,000 units per year, it said in a release on Monday October 18.This vehicle transmission facility, which currently builds transmissions for several...Read More
A summary of the operational results for Russian steelmaker Severstal for the third quarter (July-September) of 2021In brief Steel sales were up by 1% quarter on quarter to 2.69 million tonnes due to strong sales of pig iron and slabs. Sales of hot-rolled steel and plate increased by 1% quarter on quarter to 1.12 million tonnes. The total share of export sales volume, including sales of pig iron,...Read More
Export prices for rebar and wire rod originating from the Commonwealth of Independent States increased during the week to Monday October 18 on bullish offers from mills amid increased rolling costs, Fastmarkets heard.A steady uptrend in the international scrap market since last week, as well as increasing costs of production due to surging electricity and gas prices, pushed offers for CIS-origin l...Read More