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
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
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
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
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
The Commonwealth of Independent States' (CIS) billet export prices increased following a couple of Black Sea cargoes reportedly sold to Turkey, sources told Fastmarkets on Monday October 18.A 10,000-tonne cargo from Russia was reportedly sold to Turkey at $650 per tonne fob late last week, several sources told Fastmarkets.Another billet cargo of around 20,000 tonnes was sold from Ukraine to Iskend...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
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
Brazilian iron ore producer Vale has signed a memorandum of understanding with Chinese steel group Jiangsu Shagang to explore low-carbon steelmaking solutions, the former said on Monday October 18.The companies intend to develop feasibility studies on using products such as higher-purity iron ore, which has a lower carbon footprint, in the iron-making process, and cooperation on Tecnored facilitie...Read More
Here are five Fastmarkets stories you might have missed on Friday October 15 that are worth another look.Most prices for flat-rolled steel products imported into South America were down during the week ended October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in...Read More
Here are five Fastmarkets stories you might have missed on Friday October 15 that are worth another look.Most prices for flat-rolled steel products imported into South America were down during the week ended October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
Here are five Fastmarkets stories you might have missed on Friday October 15 that are worth another look.Most prices for flat-rolled steel products imported into South America were down during the week ended October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
Japanese steelmaker Nippon Steel is suing compatriot automaker Toyota and Chinese mill Baosteel on claims that the two had infringed on its patent for non-oriented electrical steel sheet. In its suit filed at the Tokyo district court on Thursday October 14, Nippon Steel is also seeking an injunction to prohibit Toyota from manufacturing and selling motor-driven vehicles equipped with motors using...Read More
Here are five Fastmarkets stories you might have missed on Friday October 15 that are worth another look.Most prices for flat-rolled steel products imported into South America were down during the week ended October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Here are five Fastmarkets stories you might have missed on Friday October 15 that are worth another look.Most prices for flat-rolled steel products imported into South America were down during the week ended October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in...Read More
The Port of Los Angeles plans to operate around the clock seven days a week to address a growing backlog of shipments waiting in cargo containers anchored offshore to be unloaded at the port.The port announced the move on Wednesday October 13, joining a similar effort that began at the nearby Port of Long Beach in September.The port is figuring out the details of how it will work with supply chain...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More