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
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
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
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
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
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
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
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
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....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
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
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
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
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....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
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
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More