Boliden has opened a new leaching plant that will extract metal from residual material at its R??nnsk??r copper smelter in Sweden,the company said on Tuesday September 28."Our aim is to extract as much metal as possible from our raw materials while ensuring the best achievable environmental and climate performance," Boliden Smelters president Daniel Peltonen said in a...Read More
Turkish mills are actively seeking United States-origin scrap and expect to negotiate their next US deep-sea cargoes at prices comparable to or higher than the last-reported sales, sources said on Wednesday September 29.Tight shredded and bonus-grade scrap supply is staving off further export market downside and shoring up heavy melt prices, with buyers willing to pay more to secure units of grade...Read More
China's power-cut policy has caused disruption in the battery raw materials supply chain and has brought uncertainty to the price of materials like nickel and cobalt, sources told Fastmarkets.The country started introducing power-consumption limits in some provinces in July 2021 due to power shortages following its carbon-reduction policy, and the curbs have been extended into more provinces and h...Read More
The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a country heavily reliant on hydroelectric power generation.A drought has reduced water reservoirs in Brazil, mainly in southeastern and midwestern states, leading to an electricity cost spike and fears of blackouts or even mandatory power rationing t...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 28 that are worth another look.The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a...Read More
After a one-month consultation that ended on Sunday September 26, Fastmarkets will increase the pricing frequency for its spodumene assessment to fortnightly from monthly on Thursday September 30.The first fortnightly price assessment for spodumene 6% Li2O min, cif China, which was priced at a monthly basis, will take place on September 30, followed by October 14, October 28, and so on. The increa...Read More
Fastmarkets is planning to delay the starting date of proposed amendments of its lithium price assessments, including the frequency of two battery-grade seaborne Asian lithium prices and amendments to the names and specifications of all its lithium hydroxide prices.In a Pricing Notice on Tuesday July 27, Fastmarkets proposed to increase the frequency of its battery-grade seaborne Asian lithium car...Read More
Fastmarkets proposes to liberalize the criteria for deals to be included in the calculations for the steel scrap month-to-date deal weighted average price, cfr Turkey.Currently, Fastmarkets' steel scrap, HMS 1&2 (80:20 mix), month-to-date deal-weighted average, North Europe origin, cfr Turkey only includes deals that are classified as confirmed, which means that at least the buyer or the sell...Read More
Automotive manufacturer Ford Motor Co plans to spend $11.4 billion on new production sites in the United States for electric vehicles (EVs) and their batteries as part of its push to bring zero-emission auto production to the country.One site will be in Stanton, Tennessee, where the company will build electric versions of its F-Series pickup truck as well as advanced batteries. To be known as Blue...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 28 and their latest price moves.China Imported charge chrome prices continued to rise strongly; consumers who needed spot material in the tight market accepted higher offers.Spot ferro-chrome prices surged in the past week amid strict electricity controls in major production hubs, which tight...Read More
Automotive manufacturer Ford Motor Co plans to spend $11.4 billion on new production sites in the United States for electric vehicles (EVs) and their batteries as part of its push to bring zero-emission auto production to the country.One site will be in Stanton, Tennessee, where the company will build electric versions of its F-Series pickup truck as well as advanced batteries. To be known as Blue...Read More
Base metals prices were mainly lower across both the London Metal Exchange and the Shanghai Futures Exchange on Tuesday September 28, the exception was LME copper. Oil prices extend gains; spot Brent crude approaching $80 per barrel. US 10-year treasuries yields push through 1.5%.Base metalsThe three-month copper price on the LME was up by 0.3% at $9,376.50 per tonne and seemed buoyant this morni...Read More
Pessimistic buyers caused the downtrend in the export market for flat steel products from the Commonwealth of Independent States downtrend to continue in the week to Monday September 27.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $830-855 per tonne on Monday, down by $10 from $840-865 per tonne a week before."Buyers think that offers will go lower...Read More
Copper concentrates shipment from MMG's Las Bambas mine in Peru will be delayed after operations were disrupted by a community blockade, the company said at a regulatory filing on Monday September 27.The Australian-Chinese miner said in a notice to Hong Kong Stock Exchange that its mining supply could not be transported due to community protests in...Read More
Poor sentiment persisted in the European hot-rolled coil market on Tuesday September 28 due to reduced demand from automakers, sufficient distributor stocks and high import volumes in ports, sources told Fastmarkets.Spot buyers have been refraining from making new deals; they anticipate that domestic prices will continue to decrease. Buyer stocks remain sufficient, allowing them to pause purchases...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 28 that are worth another look.The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a...Read More
Serious congestion at ports across the world is unlikely to ease in the immediate future, shipping line Maersk said in a market update."Ports in Asia Pacific continue to be severely congested. With continued high yard density and weather disruptions since July, operational challenges remain in port operations," the company said.Vessels calling at major ports in Busan, Shanghai, Ningbo, Yantian and...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely unchanged in the week ended Monday September 27, amid high purchasing interest from distributors with low inventories and an expectation that prices have reached a bottom, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was...Read More
Copper concentrates shipment from MMG's Las Bambas mine in Peru will be delayed after operations were disrupted by a community blockade, the company said at a regulatory filing on Monday September 27.The Australian-Chinese miner said in a notice to Hong Kong Stock Exchange that its mining supply could not be transported due to community protests in...Read More
Swedish special steel producer Ovako is to introduce a "climate surcharge" to support initiatives and new technology investments as its production goes carbon-neutral from January 2022, the producer announced on Tuesday September 28.The company says it has reduced carbon emissions significantly through efficient processes, the use of fossil-free electricity and dedicated investments such as conver...Read More