Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on Wednesday July 7.The figure was lower month on month, however, and supply disruptions have led Anfavea to reduce its estimate for the sector's full-year 2021 performance.Vehicle...Read More

All the world's major coking coal importers reduced their purchases in 2020 amid steel production cuts and lockdowns caused by the Covid-19 pandemic.China, Japan, South Korea, the European Union and India imported a total of 217.76 million tonnes of coking coal last year, down by 10.1% from 2019....Read More

Steel producer Feralpi Group has increased its investments into decarbonisation projects and plans to improve production processes as part of its industrial development strategy, the company said.Technical investments for its 2020 year rose to ?,?55.6 million ($65.6m), as part of its industrial plan, which is aimed at achieving maximum efficiency of operations, reducing consumption and emissions.T...Read More

Europe's third-quarter steel import quotas opened on Thursday July 1, but already some suppliers have absorbed a large proportion of the long steel allocation, repeating a similar scenario from the previous quarter.As a result, European independent traders and downstream steel users are once again left with no alternative to domestically produced steel and surging prices, sources told Fastmarkets....Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 7 that are worth another look.Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on July 7....Read More

S&P 500 closed Friday on a strong note, and as theholiday-shortened week is usually accompanied by positive seasonality, it wouldbe reasonable to expect extension of gains. Is therre any show stopper at themoment? Credit markets are strong and in a risk-on mode – but what about theodd strength in long-dated Treasuries? Are the stock traders getting it right –or the bond ones? Remem...Read More

The gold miners’ 2021 gains prompted astanding ovation among investors. However, they didn’t notice a magic trickuntil everything vanished.TheGold Miners After the HUI Index plunged by more than 10% and made all of its 2021 gainsdisappear, the magic trick left investors in a state of shock. But while Mr.Market still hasn’t sawed the HUI Index in half, the illusionist is likelygea...Read More

Spot prices for standard and alloy grade cobalt have continued to trend higher since the beginning of this week, driven by aggressive offers and a pickup in end-user demand in Europe and the United States, Fastmarkets heard on Wednesday July 7.Available spot units remained in tight hands, with producers' availability low and traders holding back their offers in expectation of further price increas...Read More

Gold and silver bulls attempted to start a rally last week, but prices were capped by astrengthening U.S. Dollar Index. The buck has been advancing strongly against foreigncurrencies over the past month. Currency traders are encouraged by the FederalReserve’s apparent plans to taper asset purchases and begin raising interestrates way out in 2023. Dollar buyers also seem convinced that the re...Read More

Domestic prices for steel hot-rolled coil in Northern Europe and in Italy were largely stable on Wednesday July 7 at high levels, despite a market slowdown and increased availability of the material, sources told Fastmarkets.Buyers have been holding back from making new deals, preferring instead to take the time to assess the price trend before making orders for material that would be delivered at...Read More

Prices of most base metals rose slightly on the London Metal Exchange on Wednesday July 7 but with aluminium bucking the trend, going down by 1.2%.The LME three-month copper contract ended the trading session at $9,455 per tonne at 5pm, up by 1.5% from Tuesday.Investors in the red metal were dip-buying on Wednesday after its price dropped on Tuesday in a knee-jerk reaction to negative macro-econom...Read More

Here are five Fastmarkets stories you might have missed on Wednesday July 7 that are worth another look.Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on July 7....Read More

London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More

Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More

Europe's third-quarter steel import quotas opened on Thursday July 1, but already some suppliers have absorbed a large proportion of the long steel allocation, repeating a similar scenario from the previous quarter.As a result, European independent traders and downstream steel users are once again left with no alternative to domestically produced steel and surging prices, sources told Fastmarkets....Read More

China's new trend pf setting out unwritten rules for its commodities industries and communicating them verbally will be a key method to watch out for in the future, market sources told Fastmarkets."Unofficial communications to steel mills are increasingly [coming] via provincial and township authorities [and are], not written out clearly as announcements," an iron ore trader in eastern China told...Read More

Prices of most base metals rose slightly on the London Metal Exchange on Wednesday July 7 but with aluminium bucking the trend, going down by 1.2%.The LME three-month copper contract ended the trading session at $9,455 per tonne at 5pm, up by 1.5% from Tuesday.Investors in the red metal were dip-buying on Wednesday after its price dropped on Tuesday in a knee-jerk reaction to negative macro-econom...Read More

Premiums in the United States and Europe continued to rise in the week ending Tuesday July 6 with news that the Russian government will impose export duties continuing to fuel bullish sentiment.US Midwest at new all-time highRussian export tax pushes Rotterdam up againWait and see approach in AsiaUS Midwest premium sets new high againFastmarkets assessed the aluminium P1020A premium, ddp Midwest U...Read More

Iron ore prices were generally flat on Wednesday July 7 in the physical market with limited liquidity, while futures prices were driven up by bullish steel prices, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $222.39 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $225.70 per tonne,down $0.32 per tonne58% Fe fines high-grade premium, cfr Qingdao: $185.69...Read More

Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More