Indian hot-rolled coil export prices have increased by about $15-25 per tonne in the week to Thursday October 14 because of strong domestic demand, Fastmarkets has heard.Mills this week have concluded HRC export bookings at prices in the range of $860-870 per tonne fob, mainly to destinations in the Middle East. This was about $15-25 per tonne higher compared with previous bookings in the range of...Read More
Seaborne coking coal prices in the cfr China market increased on Thursday October 14 due to necessary restocking activities from Chinese steel mills; fob prices remained largely flat, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $610.15 per tonne, up $1.30 per tonneHard coking coal, cfr Jingtang: $562.53 per tonne, up $3.07 per tonnePremium hard coking coal, fob D...Read More
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 innovative technologies, it announced on Thursday October 14.Over the past decade, the company has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave techno...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
The European Commission (EC) has extended anti-dumping duties on imports of wire rod from China until 2026, the Official Journal of the European Union said on October 13.The EC concluded that dumping would likely recur if the current measures were allowed to lapse. This followed an expiry review lodged by the European steel association, Eurofer, in July 2020 on behalf of...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
Chile will allow companies to bid for licenses for the extraction of 400,000 tonnes of lithium, the country's mining ministry said on Thursday October 14.Prospective bidders have until December 21 to submit their proposals to extract the critical battery mineral.The tender opened on Thursday to both national and international bidding. It will "tender and award Special Operation Contracts (CEOL) by...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
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
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
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
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
Chinese battery materials producer GEM has signed a memorandum of understanding with EcoPro BM, a subsidiary of South Korean battery cathode materials producer EcoPro, for the supply of battery raw materials over 2024-2026.Under the agreement, GEM will provide EcoPro BM with a total of 650,000 tonnes of high-nickel content nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminium (NCA) ternary pre...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
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has announced measures intended to reduce its consumption of natural gas after an increase in global prices.The company did not say whether the measure would affect its steel production, but it planned to gradually replace natural gas with gas generated in the steelmaking process.Ahmsa is a major steel producer and ferrous scrap consu...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
Pipe producer Vallourec and Brazilian tube, bar and stainless steel distributor Grupo A??otubo announced a joint venture to supply steel tubes and pipes to industrial clients.The new company, called Vallourec Tubos para Ind??stria (VTI) will comprise Vallourec's Brazilian unit of cold-drawn and shaped tubes and A??otubo's division of cold-drawn tubes and parts, and it will focus in supplying the a...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
Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operation...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