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
A summary of Rio Tinto's third-quarter production and shipment results, released by the company on Friday October 15. In brief Pilbara iron ore production (100% basis) in the third quarter of 2021 was 4% lower year on year due to heritage management, brownfield mine replacement tie-ins and project completion delays.Iron ore shipments from Pilbara increased by 2% year on year in the third quarter d...Read More
Iron ore prices were mostly down a bit on Monday October 18 with limited liquidity amid weak steel demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.32 per tonne,down $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.97 per tonne,down $0.53 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.47 per tonne, up $0.18 per tonne65% Fe Brazil-origin fines,...Read More
Seaborne coking coal prices increased slightly on Monday October 18. And the number of trucks for transporting Mongolian coal is expected to increase, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.56 per tonne, up by $1.46 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, up by $3.39 per tonnePremium hard coking coal, fob DBCT: $400.30 per tonne, up by $0.6...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
Spot prices for hot-rolled coil (HRC) in China retreated on Monday October 18 with the latest economic data sparking concerns over demand.DomesticEastern China (Shanghai) was 5,700-5,800 yuan ($886-901) per tonne, down by 30-60 yuan per tonne.Offers for spot HRC in Shanghai slipped to lows of 5,700-5,720 yuan per tonne on Monday morning, with the most-traded HRC contract on the Shanghai Futures Ex...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
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
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
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
Spot prices for hot-rolled coil (HRC) in China retreated on Monday October 18 with the latest economic data sparking concerns over demand.DomesticEastern China (Shanghai) was 5,700-5,800 yuan ($886-901) per tonne, down by 30-60 yuan per tonne.Offers for spot HRC in Shanghai slipped to lows of 5,700-5,720 yuan per tonne on Monday morning, with the most-traded HRC contract on the Shanghai Futures Ex...Read More
Base metals prices on the London Metal Exchange mostly rose during morning trading on Monday October 18, due to continued fears of supply tightness.Copper has hit a high of $10,452 per tonne already this morning. The three-month copper price was last at $10,292.50 per tonne, up slightly from $10,281 per tonne at Friday's close. Available stocks on the LME hit their lowest since 1974 per tonne on F...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
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
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
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
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
Seaborne coking coal prices increased slightly on Monday October 18. And the number of trucks for transporting Mongolian coal is expected to increase, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.56 per tonne, up by $1.46 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, up by $3.39 per tonnePremium hard coking coal, fob DBCT: $400.30 per tonne, up by $0.6...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