The three-month zinc price on the London Metal Exchange reached a 14-year high of $3,750 per tonne on Friday October 15, with prices and premiums spiking amid concerns over supply in Europe and the United States.Friday's price represents its highest level since 2007 and a 16.4% increase from the start of the week, with the contract closing at $3,222 per tonne on Monday. "The threat of further prod...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
Steel wire rod prices in Poland were broadly flat in the week to Friday October 15, while market sources expect producers to increase prices in November due to higher energy costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland remained at 3,800-3,900 zloty ($964-989) per tonne on Friday, unchanged from the previous we...Read More
The price of stainless steel in Europe was stable this week but mills were expected to try to push through increases because of higher energy costs, despite the fact that demand has slowed in recent weeks, Fastmarkets heard on Friday October 15.An Italian mill was said to be hoping to implement a ?,?20 ($23) per tonne energy surcharge in order to recoup some of its expenditure on rising energy cos...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 15.Susan Zou, Yingchi Yang and...Read More
Turkish steel mills booked at another five cargoes on Friday to bring the total for the week to 10, market participants told Fastmarkets on October 15.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 21,000 tonnes of HMS 1&2 (80:20) at $487 per tonne and 4,000 tonnes of shredded at $507 per tonne cfr. The cargo was scheduled to be shipped on December 15.A steel mill in the...Read More
Seaborne coking coal prices stayed largely stable in the cfr China market but decreased in the fob market on Friday October 15, amid weak offers and bids.Prices for seaborne pulverized coal injection (PCI) increased in both the cfr China and fob Australia market in the week to October 15 due to supply tightness in both markets, market sources said on Friday.Fastmarkets indicesPremium hard coking c...Read More
Slab export prices from Brazil declined in the week to Friday October 15, with offers and bids consolidating at lower levels, but market participants expected prices to have reached a bottom with no further room to drop.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was at $740-760 per tonne on Friday, down by $20 from $760-780 per tonne on October 8.Demand remain...Read More
A lack of trading across Europe kept domestic prices for hot-rolled coil fairly stable on Friday October 15, sources told Fastmarkets.Bearish sentiment is prevailing in the market, supported by poor demand from the automotive sector and good domestic supplies. Buyers and sellers have mainly been holding back from making deals, with only limited volumes traded in Europe during the week, sources sai...Read More
The market for pig iron exports from the south of Brazil went up during the week to Friday October 15 because of new sales, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500 per tonne on Friday, up from $480-485 per tonne a week earlier.Two sales were heard at...Read More
Diversified miner South32 is to buy a 45% interest in the Sierra Gorda copper mine in Chile from Sumitomo Metal Mining, the Australian company said on Thursday October 14.The acquisition is consistent with its strategy to reshape South32's portfolio for a low-carbon future, it said, producing materials critical for global decarbonization and the energy transition.Sierra Gorda, located in the Antof...Read More
Turkish steel mills are continuing to book deep-sea scrap at higher prices, market participants told Fastmarkets on Thursday October 14.A steel mill in the Iskenderun region booked a US cargo at $486 per tonne cfr on an HMS 1&2 (80:20) basis. However, the cargo composition was not clear at the time of publication.The previous deep-sea transactions, on Wednesday October 13, were concluded at $480 p...Read More
Regulation has been an important driver for the push toward clean energy technologies but industry has accelerated this mindset, the chief executive officer of Nth Cycle said.According to Megan O'Connor, the past several administrations in the United States have prioritized establishing a domestic supply of critical minerals used to power the energy transition. "Whether rare earths for critical de...Read More
Base metals prices on the London Metal Exchange were up at the 5pm close of trading on Thursday October 14 on a weaker US Dollar Index, and continuing power supply issues that were squeezing metal supply."Chinese factory-gate pricing in September may have grown at its fastest pace in 26 years, adding to the 'stagflation' growth threats moving down the line. But in the here and now, power and suppl...Read More
There was a mixed outcome in settlement negotiations for domestic steel scrap deliveries to UK steelmakers in October, with suppliers resisting downward pressure from consumers because of firm export markets, trade sources said on Thursday October 14.Scrap suppliers won increases across the board for low residual and clean grades of scrap, with rollovers agreed in contracts for other grades assess...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...Read More
Brazil-based multi-metal producer Nexa Resources has received an operating license for its Aripuan?? zinc-lead-copper project in Brazil, with commercial output scheduled to start next year, the company said on Wednesday October 13.According to Nexa, the license was granted by the Mato Grosso state environmental secretariat, Sema, on October 7. Mato Grosso is a state in the Brazilian midwestern reg...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...Read More
The EU and its member states must do more to assist domestic metals producers after the European Commission this week issued its "toolbox" to tackle a surge in energy prices that was forecast to last through the coming winter, according to regional non-ferrous metals industry body Eurometaux.The EC on Wednesday October 13 proposed short-term national measures that would include state aid for compa...Read More