Iron ore prices were largely flat on Tuesday October 5 with ongoing low liquidity in both the physical and futures market during the Chinese holiday, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $116.58 per tonne, down $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.34 per tonne, down $0.41 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.20 per tonne, d...Read More
The challenges with container shipping, including port congestion and supply chain disruptions, are likely to continue for some time, according to an executive at shipping company Oldendorff Carriers GmbH & Co.Scott Bergeron said that while Oldendorff is a dry bulk cargo shipping firm, it was receiving a surprising number of enquiries from traditional container shipping cargo owners asking for hel...Read More
Activity remained slow in the European hot-rolled coil market on Tuesday October 5, with buyers and producers holding back from making deals, sources told Fastmarkets. Buyers have sufficient stocks to cover their needs for a couple of months, according to estimations from market sources. Sentiment among buyers has been largely bearish due to reduced demand from the automotive sector, declining imp...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More
Steel scrap prices in Mexico fell again in the week ended Friday October 1, with some market participants reporting that the market could be close to a bottom.Many buyers in both of Mexico's main regions have applied price cuts for most grades, and some plan additional decreases in the week ahead."The market continues in a negative trend," a Mexican scrap seller said.One major buyer, for example,...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.Index futures recovered slightly following release of the September ADP employment report at 8:15 AM EDT. Consensus was an increase of 430,000 versus an increase of 374,000 in August. Actual was an increase of 568,000.Constellation Brands dropped $5.94 to $207.12 after reporting lower th...Read More
BHP will supply nickel sulfate to a battery making joint venture between Toyota Motor Corp and Panasonic Corp in a move designed to lower carbon emissions in the Japanese battery supply chain. The company said its Nickel West plant in Western Australia will supply the nickel sulfate to Prime Planet Energy & Solutions (PPES), one of Japan's leading lithium-ion battery producers. The batteries will...Read More
Swedish steelmaker SSAB will partner with Nordic construction company Peab to use fossil-free steel in construction projects from 2026 onward, both companies announced on Tuesday October 5.The two companies will analyze various future possibilities for how fossil-free steel can reduce the climate footprint in the construction industry."We are pleased to welcome Peab as a partner for our fossil-fre...Read More
Seaborne coking coal prices in the fob market on Tuesday October 5 continued to inch up amid limited supply in the market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, unchangedHard coking coal, cfr Jingtang: $565.14 per tonne, unchangedPremium hard coking coal, fob DBCT: $395.98 per tonne, up by $1.80 per tonneHard...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday October 5, while markets consolidated recent gains. But volumes have been light with Chinese participants absent due to the weeklong National Day holiday (October 1-7).Asia-Pacific equities weaker this morning as they followed Monday's weakness in the United States.Brent crude oil price back above $81 per...Read More
The latest data for the global manganese ore market for the week toOctober 3 2021.Read More
Rio Tinto has reached a new collective labor agreement with the union representing workers at its Kitimat aluminium smelter in British Columbia, Canada, following a vote by the union's members, the company said on Monday October 4.Rio Tinto and Unifor Local 2301 also reached an agreement on a memorandum of understanding "for a new way of working together and on a return-to-work protocol." "Ou...Read More
The prices of steel rebar and billet in the United Arab Emirates have decreased further, with demand still low, sources told Fastmarkets on Tuesday October 5.The country' biggest rebar producer, Emirates Steel, decreased its price to $655 per tonne ex-works (2,406 dirhams) on Tuesday September 28, down from $710 per tonne.This discount resulted in lower deal and offer prices, sources said.Dom...Read More
Rising bid prices in the key steel-scrap import markets of South Korea, Taiwan and Vietnam have coincided with another increase in Japan's domestic prices, market sources said on Tuesday October 5.Fresh rise in Tokyo Steel buy prices gives another jolt to Japan export marketVietnam ramps up buying interestTaiwan mill buyer "shocked" by recent price increaseJapanA further strengthening in local Jap...Read More
Aluminium producer Alcoa aims to achieve net-zero greenhouse gas (GHG) emissions across its global operations by 2050, it said on Monday October 4.The goal is for both direct (scope 1) and indirect (scope 2) emissions. It aligns with existing targets of reducing emissions from aluminium smelting and alumina refining operations by 30% by 2025, and 50% by 2030 from 2015 baselines."We're proud of our...Read More
European non-ferrous metals industry association Eurometaux has warned the European Commission that surging power prices may cause metal producers to leave Europe and erode plans to cut carbon emissions."Rising electricity prices have already led to curtailments and could lead to further relocation of our sector outside Europe if not addressed," Eurometaux said in a letter co-signed by director ge...Read More
Turkey exported 615,575 tonnes of flat steel products in August 2021, according to the Turkish Statistical Institute (TUIK), up by 46.87% year on year from 419,139 tonnes in August 2020.Most of the orders shipped in August were booked in April, when demand was very strong in all global markets.In addition, these bookings were made before the European Commission set definitive anti-dumping duties o...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in September 2021.The case list below includes only updates. For other continuing cases this year, see the updates for January, February,...Read More
Seaborne coking coal prices in the fob market inched higher on Monday October 4 amid bids heard to be slightly higher than the last transacted price, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, unchangedHard coking coal, cfr Jingtang: $565.14 per tonne, unchangedPremium hard coking coal, fob DBCT: $394.18 per tonne, up by $2.68 per tonneHard co...Read More
The Commonwealth of Independent States' billet export market softened somewhat after the Chinese market, which has been rendering most of the support to billet sellers, left for a weeklong national holiday that ends on Thursday October 7.China's interest in imported billet started to fall by the end of last week.The latest sale of a Ukraine-origin cargo was heard done in the middle of th...Read More