China's domestic rebar prices dropped on Monday October 18 following the release of data by National Bureau of Statistics (NBS) showing a decrease in new housing starts.DomesticEastern China (Shanghai): 5,730-5,770 yuan ($890-896) per tonne, down by 30-40 yuan per tonneThe construction area of newly started houses came to 1.53 billion square meters in the first three quarters of 2021, down by 4.5%...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.The US automotive manufacturer expects power unit production to begin in mid-2024, with capacity planned to be around 250,000 units per year, it said in a release on Monday October 18.This vehicle transmission facility, which currently builds transmissions for several...Read More
Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.The US automotive manufacturer expects power unit production to begin in mid-2024, with capacity planned to be around 250,000 units per year, it said in a release on Monday October 18.This vehicle transmission facility, which currently builds transmissions for several...Read More
A summary of the operational results for Russian steelmaker Severstal for the third quarter (July-September) of 2021In brief Steel sales were up by 1% quarter on quarter to 2.69 million tonnes due to strong sales of pig iron and slabs. Sales of hot-rolled steel and plate increased by 1% quarter on quarter to 1.12 million tonnes. The total share of export sales volume, including sales of pig iron,...Read More
Giuseppe Pasini, chairman of Italy's Feralpi Group, one of the leading long steel manufacturers in the European Union, spoke with Fastmarkets' Julia Bolotova about the challenges facing the European steel sector and Feralpi's strategy in light of the EU's ambitious greenhouse emissions reduction goals and global trade restrictions.Energy crisis in EuropeThe recent jump in electricity and gas price...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said onMonday October 18 ."Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of [approximately] $13.5 billion (1.5 trillion yen) set aside for investm...Read More
Argentinian aluminium producer Aluar will resume a quarter of its production capacity that has been restricted since the beginning of the Covid-19 pandemic after the federal government guaranteed power supply at lower costs, the company and the government said jointly on Wednesday October 13.That will amount to 106,000 tonnes of aluminium and result in 600 new direct and indirect jobs, they said....Read More
London Metal Exchange prices ended broadly lower on the afternoon of Monday October 18 after rising to new highs during the trading day, while copper spread backwardations reached previously unseen figures.Aluminium's three-month price, for example, reached a new year-to-date peak of $3,229 per tonne during the day but fell to $3,167 per tonne at the 5pm close, a small drop from its closing price...Read More
A summary of the operational results for Russian steelmaker Severstal for the third quarter (July-September) of 2021In brief Steel sales were up by 1% quarter on quarter to 2.69 million tonnes due to strong sales of pig iron and slabs. Sales of hot-rolled steel and plate increased by 1% quarter on quarter to 1.12 million tonnes. The total share of export sales volume, including sales of pig iron,...Read More
Seaborne coking coal prices increased slightly on Monday October 18. And the number of trucks for transporting Mongolian coal is expected to increase, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.56 per tonne, up by $1.46 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, up by $3.39 per tonnePremium hard coking coal, fob DBCT: $400.30 per tonne, up by $0.6...Read More
Iron ore prices were mostly down a bit on Monday October 18 with limited liquidity amid weak steel demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.32 per tonne,down $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.97 per tonne,down $0.53 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.47 per tonne, up $0.18 per tonne65% Fe Brazil-origin fines,...Read More
Spot prices for hot-rolled coil (HRC) in China retreated on Monday October 18 with the latest economic data sparking concerns over demand.DomesticEastern China (Shanghai) was 5,700-5,800 yuan ($886-901) per tonne, down by 30-60 yuan per tonne.Offers for spot HRC in Shanghai slipped to lows of 5,700-5,720 yuan per tonne on Monday morning, with the most-traded HRC contract on the Shanghai Futures Ex...Read More
Vale's operational license at its On??a Puma nickel mine in northern Brazil has again been suspended by the state court of Par??, the Brazilian mining company said on Monday October 18.A judge revoked a previous legal injunction from October 7 that allowed the company to run On??a Puma, according to Vale, thus reinstating a suspension of its operational license issued on October 1.Par?? state...Read More
Silicon sales upward of $5 per lb reported in Mexico and Canada indicate continued upward pressure on prices of the aluminium alloying metal in the United States, which reached another all-time high on Thursday October 14.Fastmarkets assessed the price of silicon, ddp US at $3.35-4.25 per lb on October 14, up by 18.75% from $2.90-3.50 per lb on October 7.This was the fourth week in a row...Read More
Ford Motor will invest $316 million to build electric car components at its Halewood factory in northern England, it said.The US automotive manufacturer expects power unit production to begin in mid-2024, with capacity planned to be around 250,000 units per year, it said in a release on Monday October 18.This vehicle transmission facility, which currently builds transmissions for several...Read More
A summary of Peru-based miner Buenaventura's output and sales figures for the third quarter of 2021, as stated in its production report published on Friday October 15.In brief Mine production and sales volumes were down year on year due to halted operations at Uchucchacua - near the country capital city, Lima - due to a blockade by local community members and lower recovery rates at El Brocal, whi...Read More
The total amount of lead held outside of the London Metal Exchange's warehouses fell by 77.6% over August, with most other metals also posting declines, according to the LME's latest report. After a small rise in July, the total amount of metal held outside of LME sheds was down by 150,694 tonnes to 813,916 tonnes in August. Lead had the biggest decrease - just 1,053 tonnes were left off-wa...Read More
Mexican steel producer Altos Hornos de M?(C)xico (Ahmsa) concluded a two-week maintenance at its hot-rolling mill, it said on Monday October 18.The equipment went through ha "full revamp and revision," which will secure its continuous operation, Ahmsa said.During the stoppage, demand for hot-rolled coil was...Read More