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
A price gap between spot and tender prices developed in China's ferro-chrome market in early October after sellers in the spot market raised their prices because of supply tightness, while major stainless steel mills decided to keep their tender prices flat from the previous month.Offers heard in the spot market continued to rise after China's National Day holiday on October 1-7, due to limited av...Read More
The price of steel hollow sections in Europe remained flat in the week to Wednesday October 12, despite pressure from falling feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,275-1,330 ($1,472-1,535) per tonne on October 13, unchanged week on week.Domestic hollow section prices were under pressure...Read More
China's output and sales of automobiles declined in September on an annual basis amid a shortage of semiconductor chips and the country's "dual control" energy-consumption policy, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Tuesday October 12.Carmakers in China produced 2.08 million units in September, up by 20.4% month on month but down by 17.9...Read More
China's imports of finished steel products increased by 18.2% month on month in September, preliminary Chinese customs data showed on Wednesday October 13.September exports: 4.92 million tonnes, down by 2.6% from August 2021,...Read More
Turkish steel producers continued to pay higher prices for deep-sea scrap cargoes on Wednesday October 13, market participants told Fastmarkets.Late on Tuesday October 12, a steel mill in the Marmara region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (80:20) at $470 per tonne and 18,000 tonnes of shredded at $490 per tonne cfr.On Wednesday, a steel mill in the Izmir region paid $...Read More
London-listed Cadence Minerals has obtained the approval of its credit committee to put the Amapa iron ore project in Brazil back on track, according to local news reports earlier this week.The project produces iron ore beneficiated to 65% Fe pellet feed and 62% Fe concentrate. Based on available historical mining plans and an independent consultant review, Amapa is expected to have a full product...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 13.Key drivers The European ferro-titanium price range widened higher in the week to Wednesday October 13 after new deals were reported, although overall trading activity was slow amid muted consumer buying interest. There was industry talk of some lower-priced deals, although sources said these were outliers to typical trad...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 13 that are worth another look.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.Major zinc producer Nyrstar will cut production...Read More
Domestic prices for hot-rolled coil fell in Northern Europe and Italy on Wednesday October 13 with both buyers and sellers preferring to adopt a wait-and-see strategy, sources told Fastmarkets.Trading activity was expected to recover in November, however, according to market participants. Although the majority of European distributors have sufficient stocks to last until the year-end, they will ne...Read More
Seaborne coking coal prices in the cfr China market were broadly stable on Wednesday October 13, while fob prices inched lower amid limited buying interest due to high offers, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $608.85 per tonne, down $0.10 per tonne Hard coking coal, cfr Jingtang: $559.46 per tonne, up $1.16 per tonnePremium hard coking coal, fob DBCT:...Read More
Major European zinc producers intend to significantly raise the annual contractual premiums in 2022, citing higher production costs and strong demand, Fastmarkets has learned during LME Week 2021.Offers were likely to be made close to or higher than $200 per tonne, nearly double the levels seen in 2021, which came in a range of $95-110 per tonne.The offer levels were also higher than the current s...Read More
A lack of silicon in the market has vaulted aluminium primary foundry alloy (PFA) ingot to fresh-all time highs across Europe.Fastmarkets assessed the aluminium primary foundry alloy, silicon 7 ingot premium, ddp Germany at a new record high of $800-900 per tonne on Friday October 8, up by 45% from $550-620 per tonne on September 10.Fastmarkets also assessed the monthly aluminium primary foundry a...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 13.Key drivers The European ferro-titanium price range widened higher in the week to Wednesday October 13 after new deals were reported, although overall trading activity was slow amid muted consumer buying interest. There was industry talk of some lower-priced deals, although sources said these were outliers to typical trad...Read More
Seaborne iron ore prices continued to fall on Wednesday October 13, after a formal announcement on upcoming winter restrictions by China's Ministry of Industry & Information Technology (MIIT).Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.17 per tonne, down $4.83 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.09 per tonne, down $5.08 per tonne58% Fe fines high-grade premium, cfr...Read More
Higher or more volatile prices for critical minerals such as lithium, cobalt, nickel, copper and rare earth elements could slow global progress toward a clean-energy future or make it more costly, according to the International Energy Agency (IEA).In its World Energy Outlook report released on Wednesday October 13, the IEA said that price rallies for key minerals in 2021 could increase the costs o...Read More
Higher electricity prices have added to the production costs of chrome alloy, especially low-carbon ferro-chrome, during the week to Tuesday October 12, at a time when the market was already short of material with prices at multi-year highs.Fastmarkets assessed ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe at $3.05-3.25 per lb Cr on Tuesday, up 7-15 cents (+3.6%) from $2.90-3.18 per lb...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 13 that are worth another look.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.Major zinc producer Nyrstar will cut production...Read More
The phase-two concentrator plant at the Kamoa-Kakula copper mine in the Democratic Republic of the Congo (DRC) is expected to begin full operations ahead of schedule in the second quarter of 2022, joint-venture partner Ivanhoe Mines said on Tuesday October 12."Construction of the phase-two concentrator plant is progressing very well... Based on the pace of the work completed to date, we now expect...Read More
Higher or more volatile prices for critical minerals such as lithium, cobalt, nickel, copper and rare earth elements could slow global progress toward a clean-energy future or make it more costly, according to the International Energy Agency (IEA).In its World Energy Outlook report released on Wednesday October 13, the IEA said that price rallies for key minerals in 2021 could increase the costs o...Read More