Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were largely stable during the seven days up to Monday November 8, because of slow activity after a national holiday and Covid-19 restriction measures.Market participants continued to report that the available volumes of rebar were limited. This was mostly due to mills giving priority to replenishing their trade houses'...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
The governments of the United Kingdom, India, Germany and Canada have announced a pledge to purchase low carbon-emission steel under the Industrial Deep Decarbonization Initiative (IDDI), it was announced on Tuesday November 9.The group of countries announced its intention to buy low-carbon steel and concrete at the UN Climate Change Conference, COP26, in Glasgow, with specific interim targets by...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
Seaborne iron ore prices fell on Tuesday November 9 amid weak demand for steel in northern China (due to the colder weather) and rising inventories at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.30 per tonne, down $1.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.46 per tonne, down $1.09 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday November 5, with buyers passing on minor price adjustments to certain grades.Scrap sellers were putting strong pressure on clients, trying to apply price increases after the United States market reached settlements for November with increases of $20 per gross ton in prime scrap grades, and $40-60 per gross ton on most obsole...Read More
Alumina export volumes from Brazil increased by 84.73% in October 2021 compared with the corresponding month in 2020, with both the Alunorte and Alumar refineries shipping more material, according to data published by the coutnry's ministry of economy on Monday November 8.Brazilian alumina exports totaled 901,012 tonnes in October, a significant rise from 487,742 tonnes a year before.Cargoes shipp...Read More
Base metal futures prices were largely down across the London Metal Exchange complex at the 5pm close of trading on Tuesday November 9, despite gains made on Monday.Prices reversed across the board on the LME, initially trending higher before eventually scaling back by the close.The US Dollar Index rose throughout the day, supporting this price move. It was up to 94.05 by 5pm, from 93.96 at 9am.Th...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Base metal futures prices were largely down across the London Metal Exchange complex at the 5pm close of trading on Tuesday November 9, despite gains made on Monday.Prices reversed across the board on the LME, initially trending higher before eventually scaling back by the close.The US Dollar Index rose throughout the day, supporting this price move. It was up to 94.05 by 5pm, from 93.96 at 9am.Th...Read More
Prices for steel rebar and billet imports into the United Arab Emirates increased during the week ended Tuesday November 9, although offer prices for billet were higher than the rebar deal prices because of a shortage of the semi-finished material, sources have told Fastmarkets.The reason for the high billet price, compared with rebar, was that most billet producers in Oman have sold large quantit...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry," carbon specialist and Keops Consulting founder Milena L??pez told...Read More
Canada's First Cobalt Corp will expand its Ontario facilities to produce a range of precursor battery materials and to recycle lithium-ion batteries, it said.The Toronto-listed cobalt producer, which is North America's only cobalt refinery, also plans - subject to shareholder approval - to change its name to Electra Battery Materials to better reflect its new strategy, it also said. First Co...Read More
The Russian Federation's Ministry of Finance is preparing a list of machine-building plants to be excluded from a liquid steel excise tax, Aleksey Sazonov, Russian Federation deputy minister of Finance said on November 8 during a State Duma committee meeting on budget and taxes."A number of Russian machinery-building plants have their own small steelmaking capacities...They will be excluded from e...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
Prices for steel rebar and billet imports into the United Arab Emirates increased during the week ended Tuesday November 9, although offer prices for billet were higher than the rebar deal prices because of a shortage of the semi-finished material, sources have told Fastmarkets.The reason for the high billet price, compared with rebar, was that most billet producers in Oman have sold large quantit...Read More
Alumina export volumes from Brazil increased by 84.73% in October 2021 compared with the corresponding month in 2020, with both the Alunorte and Alumar refineries shipping more material, according to data published by the coutnry's ministry of economy on Monday November 8.Brazilian alumina exports totaled 901,012 tonnes in October, a significant rise from 487,742 tonnes a year before.Cargoes shipp...Read More