Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....Read More
The spot price for spodumene concentrate ticked up due to tight availability of the raw material, while downstream global lithium prices continued to post steady gains in October after China's National Day holiday (October 1-7).Fastmarkets' assessment for spodumene 6% Li2O min, cif China basis was $2,100-2,500 per tonne on Thursday October 28, narrowing upward by $100 per tonne from $2,000-2,...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
The latest data for the global manganese ore market for the week ended Monday November 1.Read More
Most flat steel prices continued to increase in Turkey during the week ending Monday November 1, but future price moves remain uncertain because of decreasing prices in China and weak demand in the Turkish local market, sources told Fastmarkets.Hot-rolled coil prices in China have been decreasing, which may affect global prices.Local demand for flat steel was also weak because most buyers placed t...Read More
Prices in the Commonwealth of Independent States' export long steel market continued to grow in the week to Monday November 1, mainly due to higher offers from Ukraine because the country still has most of its quota allocation available for the fourth quarter in Europe.Meanwhile, Russian suppliers have almost fulfilled up their rebar quota and their wire rod quota has been completely exhausted.&nb...Read More
After a consultation period, Fastmarkets has liberalized the criteria for deals to be included in the calculations for the steel scrap month-to-date deal weighted average price, cfr Turkey.Previously, Fastmarkets' MB-STE-0894 steel scrap, HMS 1&2 (80:20 mix), month-to-date deal-weighted average, North Europe origin, cfr Turkey only included deals that were classified as confirmed, which means that...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
China's domestic rebar prices dropped on Monday November 1 after the release of a lower steel industry purchasing managers' index.DomesticEastern China (Shanghai): 5,120-5,150 yuan ($799-804) per tonne, down by 100 yuan per tonneThe PMI for the steel industry was 38.3 points in October, down by 6.7 points from September, according to the China Federation of Logistics & Purchasing's Steel Logistic...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Market participants in the European Union expressed uncertainty on how the flow of European-produced aluminium to the United States will be impacted by a deal to between the US and EU to replace Section 232 import tariffs with a tariff-rate quota (TRQ) system."The news is still fresh and it is not clear yet what it means for the market," one European trader told Fastmarkets."On the European side,...Read More
Spot prices for hot-rolled coil in China continued to fall on Monday November 1, with market sentiment subdued by continued declines in coal futures prices and weak economic data.DomesticEastern China (Shanghai): 5,230-5,300 yuan ($817-828) per tonne, down by 40-100 yuan per tonneSpot HRC prices in the domestic market slipped to their lowest since May 26 on Monday, while the most-traded HRC contra...Read More
Some coated-steel coil producers in Turkey decreased their prices but demand was weak during the week ending Monday November 1, sources told Fastmarkets.Demand for coated coil was moderate to weak in the country because buyers wanted to see what direction prices would take, sources said.Domestic pricesFastmarkets' weekly price assessment for steel HDG coil domestic, exw Turkey was $1,280-1,35...Read More
Tata Steel and and Tata Power, two companies of the Tata Group, have agreed a Power Purchase Agreement (PPA) for solar power to be installed in Jamshedpur and Kalinganagar, the company announced on Friday October 29.The two companies have signed a 25-year PPA to set up the 41 megawatt(MW) solar project, which will be a combination of rooftop, floating and ground mounted solar panels, it said....Read More
After a consultation period, Fastmarkets has liberalized the criteria for deals to be included in the calculations for the steel scrap month-to-date deal weighted average price, cfr Turkey.Previously, Fastmarkets' MB-STE-0894 steel scrap, HMS 1&2 (80:20 mix), month-to-date deal-weighted average, North Europe origin, cfr Turkey only included deals that were classified as confirmed, which means that...Read More
The CIS export slab market was quiet in the week to Monday November 1 because most mills were absent from the market.No fresh offers were heard from Russian suppliers in the Black Sea basin, while local sources reported that the country is on lockdown until November 7, reducing trading activity.In the Far East...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Strengthening sentiment from limited supply sent the market for low-grade and high-grade manganese ore higher in the week to Friday October 29, despite weaker ore prices at ports and falling silico-manganese markets in China.Fastmarkets' manganese ore index 37% Mn, cif Tianjin was calculated at $4.83 per dry metric tonne unit (dmtu) on Friday, up 6 cents, or 1.3%, from $4.77 per dmtu a week earlie...Read More
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....Read More
China's domestic rebar prices dropped on Monday November 1 after the release of a lower steel industry purchasing managers' index.DomesticEastern China (Shanghai): 5,120-5,150 yuan ($799-804) per tonne, down by 100 yuan per tonneThe PMI for the steel industry was 38.3 points in October, down by 6.7 points from September, according to the China Federation of Logistics & Purchasing's Steel Logistic...Read More