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
German steelmakers have settled their monthly steel scrap contracts for November at higher prices, sources told Fastmarkets on Tuesday November 16.The main drivers behind the price increase were strong demand among the steelmakers and the short supply of scrap, particularly of new grades."Prices increased on average by about ?,?30 [$34] per tonne. As usual, the price rise was slightly different de...Read More
Mexican ferrous scrap prices were stable for most grades, but sparse reports of price increases and higher-price deals were spotted in what could be the beginning of an uptrend in prices.At least one Mexican scrap buyer was heard applying slight increases for prime grade scrap, since the material supply was short. There were also reports of higher deals for some obsolete grades.But for most grades...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
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
UK-based recycler HyProMag Ltd has established a subsidiary in Germany to roll out the commercialization of technology to recycle rare-earth magnets into the European market, a shareholder in the British company has said.Magnito Ltd is a subsidiary of Canadian minerals explorer Mkango Resources, and it holds a 42% stake in HyProMag. According to Mkango, the goal of the new German operation is to s...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
The export market for steel slab from the Commonwealth of Independent States remained quiet in the week to Monday November 15, with a various trends in different customer markets driving a lack of clarity.In the Asian region, weakening flat steel prices in China's domestic markethad a strong negative effect on other regional markets.The release of rather grim economic and property data by Chi...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
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
Turkish steelmakers were mostly quiet in the deep-sea scrap import markets following a sharp decline in the country's currency value, market participants told Fastmarkets on Tuesday November 16.Mills booked three deep-sea cargoes for December shipments at the beginning of the week.A steel mill in the Marmara region booked a UK cargo at $490 per tonne and a Baltic Sea cargo at $494.50 per tonne cfr...Read More
Base metals prices on the London Metal Exchange were mostly trading down at 9am on Tuesday November 16 - with the exception of nickel, which was up by over $70 per tonne.Strength in the United States dollar weakened base metals prices, with the US Dollar Index opening the day at $95.53, the highest opening figure since July 21, 2020. The rally has come off slightly since Monday's highs of $95.60.T...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
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
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
Domestic prices for hot-rolled coil were fairly stable in Northern Europe and Italy on Tuesday November 16 due to a lack of trading activity, sources told Fastmarkets.Spot buyers will remain in "wait-and-see" mode until the price trend becomes clear and long-term contracts are settled, sources said.Producers across Europe have been aiming for higher prices for first-quarter rolling coil due to ris...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
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
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
Mexican ferrous scrap prices were stable for most grades, but sparse reports of price increases and higher-price deals were spotted in what could be the beginning of an uptrend in prices.At least one Mexican scrap buyer was heard applying slight increases for prime grade scrap, since the material supply was short. There were also reports of higher deals for some obsolete grades.But for most grades...Read More