Although ferro-alloy prices have sharply climbed, steelmakers are unlikely to reduce their consumption of these raw materials given the small share of steel production costs it accounts for and the likelihood that prices will move down in the near-term, panelists said on Monday November 16 during Fastmarkets' International Ferro-alloys Conference.During the session titled "Steel Mill Panel Discuss...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesOctober 8: 90 tonnes (15 tonnes each month between January to June 2022, all at $26.75 per lb)October 14: 5 tonnes for December 2021 at $26.85 per lbOctober 15: 65 tonnes (5 tonnes for November 2021 at $...Read More
Austrian steelmaking group Voestalpine has been certified as a sustainable production site by the non-profit steel sustainability organization ResponsibleSteel, the steelmaker announced earlier this week.Part of the certification was to meet 200 criteria, including the responsible procurement of raw materials, reducing CO2 emissions and the management of labor and human rights. Certification requi...Read More
Austrian steelmaking group Voestalpine has been certified as a sustainable production site by the non-profit steel sustainability organization ResponsibleSteel, the steelmaker announced earlier this week.Part of the certification was to meet 200 criteria, including the responsible procurement of raw materials, reducing CO2 emissions and the management of labor and human rights. Certification requi...Read More
Prices for steel scrap imported into China tumbled on Tuesday November 16 after Chinese mills lowered domestic scrap purchase prices further, market sources said. Continued drop in China's domestic scrap buy prices pressures import appetite.Taiwanese buyers bid lower.ChinaSpot prices for steel scrap imported into China weakened further on Tuesday amid bearish sentiment in the domestic scrap market...Read More
Key data from Fastmarkets' ferro-silicon pricing sessions in China, Europe and the United States on the week ended Tuesday November 16.China Ferro-chrome producers in Inner Mongolia and Guangxi are running at high production rates, which could pressure alloy prices and increase chrome ore consumption.Spot ferro-chrome dropped again after suppliers lowered offers to destock. The improved productio...Read More
Export hot-rolled coil prices from the Commonwealth of Independent States fell in the week to Monday November 15 in new deals for Ukraine-origin material to Turkey.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $820-850 per tonne on Monday, down from $830-870 per tonne a week earlier.Ukraine-origin HRC was sold to Turkey at $850-870 per tonne cfr - e...Read More
The downward trend in China's domestic rebar prices was halted by a rise in trading activity on Tuesday November 16, sources told Fastmarkets.Domestic Eastern China (Shanghai): 4,700-4,730 yuan ($737-742) per tonne, unchangedBuyers raised procurement rates on Tuesday morning in response to futures gains, which halted the decline in spot market prices, sources said.The most-traded January rebar fut...Read More
Hot-rolled coil prices in the United States weakened to the lowest level since July after more buyers stood on the sidelines, unwilling to accumulate inventory while mill pricing is on a downward trajectory.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.47 per hundredweight ($1,829.40 per short ton) on Tuesday November 16, a decrease of 0.32% from $91.76 per cwt...Read More
Spot prices for hot-rolled coil in China edged higher on Tuesday November 16, thanks to a short-lived rebound in futures prices.DomesticEastern China (Shanghai): 4,720-4,750 yuan ($740-745) per tonne, narrowing up by 20 yuan per tonneThe most-traded HRC contract the Shanghai Futures Exchange climbed to an intraday high of 4,527 yuan per tonne on Tuesday, before reversing to register the third day...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
Lithium market participants have voiced concern about the ability to secure supply of industrial-grade lithium compounds due to an increasingly larger share of the market being taken up by the battery sector.With long-term contract negotiations for next year's supply unfolding, traditional industrial buyers spoke of surging demand from the battery sector globally and said they expect increasing pr...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
Chinese lithium-ion battery cathode materials producer Beijing Easpring Material Technology has signed a strategic cooperation agreement with SK Inc to develop cathode materials production projects in Europe, Asia and the United States, the company said on Monday November 15.Under the agreement, SK will invest in Easpring's Finnish joint venture with an equity ratio of no more than 30% to develop...Read More
General Motors (GM) plans to extend its control of the midstream processing chain in the next 18 months while it gets battery plants in the United States up and running, a senior company executive at the automotive manufacturer said.This is also part of a push by the automaker to create a greener supply chain via reduced movement of materials around the world, GM manager of energy environment and...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
MineHub Technologies Inc has launched an application to digitalize and streamline the assay exchange process between buyer, seller and laboratories in base metal concentrates transactions, the blockchain technology platform said.The application, known as MineHub Assay Exchange, is the first in a series of network applications for concentrates that the company intends to roll out over the next mont...Read More
Prices for flat steel products in Russia's Central Federal District around Moscow were flat during the week ended Monday November 15, with market participants expecting possible price increases for December deliveries due to good demand, sources told Fastmarkets.Traders suggested that if no newgovernment measures are implemented to cool local prices, there may be a price increase for December...Read More
General Motors (GM) plans to extend its control of the midstream processing chain in the next 18 months while it gets battery plants in the United States up and running, a senior company executive at the automotive manufacturer said.This is also part of a push by the automaker to create a greener supply chain via reduced movement of materials around the world, GM manager of energy environment and...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More