Base metals prices on the London Metal Exchange were down across the board at the 5pm close on Thursday November 4, with strength in the United States Dollar supporting price weakness across the complex.The US Dollar Index was most recently at $94.39 after hitting an intraday high of $94.47, the highest level since October 13, with base metals trading downward as a result. The three-month alu...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
The price of manganese flake has reached all-time highs in China and Europe, with most producers remaining bullish on the medium-and long-term outlook due to supply tightness. However, risk aversion continues in Europe; some cheaper offers are casting doubts about the immediate price direction of the metal, Fastmarkets heard.The manganese flake price has been on the rise in China since May, peakin...Read More
The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but the impact is likely to be limited, sources told Fastmarkets.On October 30, the US and the EU agreed to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas.The decision i...Read More
The steel rebar and billet market in Egypt was slow during the week ending Thursday November 4, although some market participants expected rebar prices to increase because of increasing natural gas costs, sources told Fastmarkets.Local rebar producers increased their prices E ?15,000 ($952) per tonne ex-works including 14% VAT on October 20.However, the natural gas price increased to $5....Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
Hot-rolled coil prices in Europe were stable to slightly higher on Thursday November 4 despite muted buying, while market sentiment remained optimistic, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,022.50 ($1,184.83) per tonne on November 4, up by ?,?8.21 per tonne from ?,?1,014.29 per tonne on November 3.The index was...Read More
A summary of Albemarle's results for the third quarter of 2021, as stated in the US-headquartered lithium and other specialty chemicals producer's quarterly report published on Wednesday November 3.In brief The global lithium producer attributed improved net lithium sales year on year over the quarter to higher volumes sold (30% of the increase) and higher pricing achieved - helped by favorable fo...Read More
Turkish long steel export prices have declined over the past week amid limited demand from the steel mills' regular shipping destinations, market participants told Fastmarkets on Thursday November 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $730-740 per tonne on Thursday, down from $740-760 per tonne last week.Turkish steel...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Turkish billet prices feel in the week ended November 4 in line with lower imported scrap costs and poor demand, market participants told Fastmarkets.Suppliers in the Commonwealth of Independent States (CIS) have lowered their offers to $700-705 per tonne cfr, compared with $725-730 per tonne last week.However, the buyers bid only $660-670 per tonne for CIS-origin billet. A steel mill in the Isken...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Sentiment was buoyed among most market participants at the annual Nickel & Cobalt conference held by Chinese information provider Antaike on November 1-3 in Ningbo, China, but the strong resurgence of lithium iron phosphate (LFP) batteries has created uncertainty about consumption of the two metals.Fastmarkets summarizes below four key takeaways from the sidelines of the conference.LFP outperforms...Read More
Base metals prices on the LME and SHFE were mixed early on Thursday November 4, but neither the metals nor the broader markets have been rattled by the US Federal Reserve's announcement that it is to start tapering its monthly bond buying programme.The United States Federal Reserve to trim bond buying by $15 billion a month - it had been buying $120 billion a monthA pick-up in Covid-19 cases in Ch...Read More
Turkish steel mills have continued their deep-sea scrap imports with recovering prices on Thursday November 4, market participants told Fastmarkets.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:20) at $500 per tonne, 7,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr. Another steel mill in the same region booked a cargo from the...Read More
Mexican steel producer Deacero has opened an office in Washington to be closer to trade decisions affecting its business. It is a first for a Mexican company, according to a Thursday November 4 statement."This is where decisions are made that affect our company, its workers, and its customers - not only in the US, but also in Mexico, and in other international markets where we do...Read More
Turkish steel mills have continued their deep-sea scrap imports with recovering prices on Thursday November 4, market participants told Fastmarkets.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:20) at $500 per tonne, 7,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr. Another steel mill in the same region booked a cargo from the...Read More