Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
The export market for steel slab from the Commonwealth of Independent States (CIS) region was quiet in the week to Monday November 8.Mills mainly held back from placing new offers, preferring to assess the market conditions, so no fresh deals were heard done.Meanwhile, the situation in the global market was mixed.In Europe, plate producers, which are the main consumers of CIS-origin slab in the re...Read More
The gap between offers and bids for long steel products from the Commonwealth of Independent States widened in the week to Monday November 8, with higher offers from Ukrainian mills but reduced availability of material.Russian mills were mostly absent from the export business due to the current favorable conditions in their local market.Meanwhile, bids from customers and estimates of workable pric...Read More
The gap between offers and bids for long steel products from the Commonwealth of Independent States widened in the week to Monday November 8, with higher offers from Ukrainian mills but reduced availability of material.Russian mills were mostly absent from the export business due to the current favorable conditions in their local market.Meanwhile, bids from customers and estimates of workable pric...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Monday November 8, but those on the Shanghai Futures Exchange were mainly firmer as they followed the strength seen on the LME on Friday.US Congress' passing of the long-awaited infrastructure bill bodes well for the metals Chinese trade data show a record surplus, but weaker than expected imports highlight weaker...Read More
Swiss packaging company Aluflexpack has achieved Aluminium Stewardship Initiative (ASI) Performance Standard Certification at its Drni?? production site in Croatia, and also Chain of Custody (CoC) Standard Certification at both Drni?? and Einsiesdeln in Switzerland, it was announced on Monday November 8.The company provides "flexible packaging" solutions for a number of international brands across...Read More
The publication of Fastmarkets' monthly blister copper refining charge for October was delayed due to a reporter error. Fastmarkets' pricing database has since been updated with the following price, originally scheduled to be published on last working day of October. Fasstmarkets' price assessment for opper blister 98-99% RC spot, cif China was $150-170 per tonne on Friday October 29 and as u...Read More
French metal and mining group Eramet is combining with Chinese stainless steel producer Tsingshan to restart a lithium plant in Argentina, Eramet said on Monday November 8.The lithium project is in the Centenario Ratones salar (salt desert) in the province of Salta, in the north of Argentina, according to Eramet's presentation.The Centenario Ratones project has estimated capacity for 24,000 tonnes...Read More
BHP has signed an agreement to sell its 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd as part of its decarbonization plan, the Anglo-Australia multinational announced on Monday November 8.BMC comprises the Poitrel and South Walker Creek operations, Red Mountain Infrastructure and the Wards Well development in Queensland, Australia. Stanmore SMC Holdings Pty Ltd has agreed...Read More
Details of new investment by Egypt's Ezz Steel, including the possible acquisition of a stake in another steel company, will be disclosed in a timely manner after financial evaluation and legal audit are completed, the company said in a statement to the country's stock exchange on Sunday November 7.There were rumors in the Egyptian steel market that Ezz Steel, the country's biggest steel producer,...Read More
Brazilian steel slab export prices remained stable in the week ended Friday November 5, with no fresh deals heard and negotiations for January shipments still proceeding at a slow pace.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $730-740 per tonne on Friday, unchanged from the previous week.The higher end of the assessment corresponded to prices in the...Read More
Modest gains were seen in base metals futures prices at the 5pm close of trading on the London Metal Exchange on Monday November 8 because of a weaker US Dollar Index, which supported price increases.Aluminium led the gains, its price increasing by almost 2% to $2,605.00 per tonne, up from $2,556.50 per tonne at Friday's 5pm close. This rise followed a 5% decline in the three-month price for the l...Read More
Turkish steel mills were quiet at the beginning of the week but are expected to book more deep-sea cargoes for December shipment, market participants told Fastmarkets on Monday November 8.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2...Read More
Key data from Fastmarkets' pricing session in Europe on Friday November 5.Key drivers?EUR?There were higher bids for gallium in the market but producers seemed reluctant to sell. Some producers declined bids that were higher than the current price, believing that the price would continue to rise.?EUR?The metal's price...Read More
Modest gains were seen in base metals futures prices at the 5pm close of trading on the London Metal Exchange on Monday November 8 because of a weaker US Dollar Index, which supported price increases.Aluminium led the gains, its price increasing by almost 2% to $2,605.00 per tonne, up from $2,556.50 per tonne at Friday's 5pm close. This rise followed a 5% decline in the three-month price for the l...Read More
Seaborne iron ore concentrate and pellet prices fell during the week to Friday November 5 amid weaker demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $55.70 per tonne, up by $8.60 per tonne66% Fe concentrate, cfr Qingdao: $117.73 per tonne, down by $19.75 per tonne65% Fe blast furnace pellet, cfr Qingdao: $169.69 pe...Read More
Seaborne iron ore prices were mostly stable on Monday November 8 amid continuing weak demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.82 per tonne, up $0.68 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.55 per tonne, up $0.47 per tonne58% Fe fines high-grade premium, cfr Qingdao: $65.68 per tonne, down $0.10 per tonne65% Fe...Read More
Seaborne coking coal prices in cfr and fob markets diverged on Monday November 8 with previously stranded Australian coal entering China.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $588.94 per tonne, down $11.31 per tonneHard coking coal, cfr Jingtang: $517.65 per tonne, down $7.58 per tonnePremium hard coking coal, fob DBCT: $402.65 per tonne, unchangedHard coking coal, fob DBCT: $...Read More
Chinese battery materials producer Huayou Cobalt has signed a cooperation framework agreement with Shanghai-listed Hubei Xingfa Chemicals Group Co Ltd to produce the raw materials for lithium iron phosphate (LFP) batteries.On Sunday November 7, Huayou Cobalt announced that the two companies will work together to build an integrated system that incorporates the selection and mining of phosphate ore...Read More
The publication of Fastmarkets' monthly blister copper refining charge for October was delayed due to a reporter error. Fastmarkets' pricing database has since been updated with the following price, originally scheduled to be published on last working day of October. Fasstmarkets' price assessment for opper blister 98-99% RC spot, cif China was $150-170 per tonne on Friday October 29 and as u...Read More