European hot-rolled coil prices were stable to slightly lower on Thursday November 11, on subdued activity, but producers hope to achieve higher prices in the first quarter of 2022, sources told Fastmarkets.Trading activity was slow, with buyers refraining from making purchases and instead assessing the situation. Producers, meanwhile, were looking to achieve higher prices for the first quarter of...Read More
Steel billet prices in Turkey have weakened over the past week amid limited demand in the country, market participants told Fastmarkets on Thursday November 11.Steelmakers in the country have been struggling with weak finished long steel sales in the export outlets. Therefore, demand for billet has remained soft.Suppliers in the Commonwealth of Independent States have lowered their billet offers t...Read More
Johnson Matthey (JM) is pursuing the sale of all or parts of its battery materials division following a detailed review.This reflects the high capital intensity of those operations in the face of competition from more established large-scale, low-cost producers, the UK-based specialty chemical and sustainable technologies company said in a press release on Thursday November 11.Growth in demand for...Read More
ArcelorMittal will invest $1 billion to expand its iron ore and long steel capacities in Latin America between the second halves of 2023 and 2024, the steelmaker said.In Brazil, the Luxembourg-headquartered company will invest $500 million in increasing upstream capacity of its long steel unit in Jo??o Monlevade, in the southeastern Minas Gerais state, while an expansion of its Serra Azul iro...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.- Bangladesh buyers step back from market - Shredded scrap offers rise to Bangladesh amid strong Pakistan market - Taiwanese consumers continue to bid low Bangladesh There was a lack of import ac...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Thursday November 11 - it would seem dip-buying has dominated once again.Consumer prices in the United States and China rise more than expected.US Dollar Index shoots up to 95 while the rally extends.Base metalsThree-month base metals prices on the LME were mainly stronger...Read More
Turkish steel mills were quiet in the deep-sea scrap import markets on Thursday November 11 after booking two cargoes from the Baltic Sea region, sources told Fastmarkets.A steel mill in the Marmara region had booked two Baltic Sea cargoes late on Tuesday November 9 at $497 and $500 per tonne cfr on HMS 1&2 (80:20) basis. Turkish steelmakers required more cargoes for December,...Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Steel billet prices to Egypt declined in the week to Thursday November 11, with demand from the private sector remaining weak, while government-funded projects continued, sources told Fastmarkets.Local rebar prices in Egypt have been unchanged since October 28 at E ?14,900-15,350 ($946-975) per tonne ex-works, including 14% VAT. ...Read More
Steel billet prices in Turkey have weakened over the past week amid limited demand in the country, market participants told Fastmarkets on Thursday November 11.Steelmakers in the country have been struggling with weak finished long steel sales in the export outlets. Therefore, demand for billet has remained soft.Suppliers in the Commonwealth of Independent States have lowered their billet offers t...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on Thursday November 11.In addition to steel cord, the plant makes special bar quality (SBQ) products, springs and other material, mainly focused on the automotive industry. Strong dema...Read More
The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on Thursday November 11.In addition to steel cord, the plant makes special bar quality (SBQ) products, springs and other material, mainly focused on the automotive industry. Strong dema...Read More
Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.- Bangladesh buyers step back from market - Shredded scrap offers rise to Bangladesh amid strong Pakistan market - Taiwanese consumers continue to bid low Bangladesh There was a lack of import ac...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More