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
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
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly weaker on the morning of Tuesday November 2, with concerns about headwinds affecting the Chinese economy denting sentiment.* A 9.9% price drop in the January iron ore futures contract on the Dalian Commodity Exchange is weighing on sentiment.* Iron ore prices were recently at 567 yuan ($89) per tonne, down fr...Read More
The Commonwealth of Independent States' export prices for hot-rolled coil increased during the week ended Monday November 1, but market activity was weak, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $870-880 per tonne on November 1, rising from $850-870 per tonne on October 25.Offers from Ukraine to Turkey were at $900-910...Read More
The carbon footprint of finished nickel produced at Vale's Long Harbour processing plant, in the Canadian eastern Newfoundland and Labrador province, has been certified to be significantly below the global average, the Brazilian company said on Monday November 1.This grants Vale an advantage in supplying North American and European markets with low-carbon nickel for the next generation of electric...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
Previously stranded Australian coking coal has started to affect the seaborne coking coal cfr price; seaborne prices in the fob market were relatively stable, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, down by $7.87 per tonneHard coking coal, cfr Jingtang: $525.23 per tonne, down by $19.65 per tonnePremium hard coking coal, fob DBCT: $...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
Shanghai bonded copper and zinc stocks modestly declined in October due to unfavorable market conditions for imports, while aluminium stocks were flat and nickel stocks registered the biggest gain. Decline of copper stocks slows in October Shanghai bonded copper stocks continued to fall in October - by 13.5% on a monthly basis. Stocks fell by 26.7% in September. Fastmarkets assessed Shanghai bon...Read More
Base metals prices on the London Metal Exchange were little changed on the morning of Monday November 1 compared with their month-end figures from last Friday, with Chinese data pointing to a slowdown in its economy and a strong US Dollar index capping price moves. The official purchasing managers' index (PMI) readings from China over the weekend showed the manufacturing PMI fell to 49.2 in Octobe...Read More
EN+ group IPJSC and SUAL Partners Limited, the two largest shareholders of aluminium producer UC Rusal, announced their joint support for de-mergering Rusal's high-carbon businesses.Rusal announced in May it intended to pursue a demerger of its higher-carbon assets via the creation of two different businesses with separate strategies.The announcement said the demerger is still awaiting further dec...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...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
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
Turkish steel producers were quiet in the deep-sea scrap markets on Monday November 1, following the national holiday period in the country, market sources said.The most recent cargo deal was recorded last Tuesday, when a steel mill in the Marmara region booked a cargo from the United States comprising 20,000 tonnes of heavy melting scrap 1&2 (90:10) and 10,000 tonnes of shredded at an average pri...Read More
Import prices for rebar in Singapore increased during the week to Monday November 1 amid limited supply, with only the Middle East offering material which was deemed the lowest by local buyers.Middle Eastern rebar was offered at $760 per tonne cfr on a theoretical weight basis to Singapore in the past week, although there was limited demand."The price is still a little high and there's no point ru...Read More
Domestic prices for hot-rolled coil increased across the European Union during the week to Friday October 29, despite limited trading activity in the spot market.European steelmakers have been focused on settling long-term agreements with big buyers, such as the automotive and white goods sectors. As a result, they have not been active in the spot market.At the end of last week, ArcelorMittal anno...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
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