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
Trading activity in the European hot-rolled coil market remained subdued on Monday October 18, with mills and buyers both holding back from trading, sources told Fastmarkets.Sentiment remains gloomy due to the drop in demand from the automotive segment. Auto-industry output - and, consequently, steel demand - has fallen due to a shortage of semiconductors. Market sources reported that mills supply...Read More
Domestic prices for hot-rolled coil declined in the European Union in the week to Friday October 15, reflecting bearish sentiment in the market and poor demand from the automotive segment.Buyers and sellers have held back from making deals, with only limited volumes traded in Europe during the week.Steel prices have been under downward pressure from weak automotive demand, high distributor stocks...Read More
The Commonwealth of Independent States' (CIS) billet export prices increased following a couple of Black Sea cargoes reportedly sold to Turkey, sources told Fastmarkets on Monday October 18.A 10,000-tonne cargo from Russia was reportedly sold to Turkey at $650 per tonne fob late last week, several sources told Fastmarkets.Another billet cargo of around 20,000 tonnes was sold from Ukraine to Iskend...Read More
Export prices for rebar and wire rod originating from the Commonwealth of Independent States increased during the week to Monday October 18 on bullish offers from mills amid increased rolling costs, Fastmarkets heard.A steady uptrend in the international scrap market since last week, as well as increasing costs of production due to surging electricity and gas prices, pushed offers for CIS-origin l...Read More
Brazilian apparent steel consumption rose by 8.52% year on year in September amid a surge in imports and an increase in long steel demand, national steelmaker association Instituto A??o Brasil said.Consumption totaled 2.20 million tonnes in September, up from 2.03 million tonnes in the corresponding month last year, the association said on Friday October 15.Growth was more pronounced for long stee...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
Turkish steelmakers continued to book deep-sea scrap cargoes for December shipment at the start of the week, market participants told Fastmarkets on Monday October 18.A steel mill in the Iskenderun region booked a Baltic Sea cargo, consist of 6,500 tonnes HMS 1&2 (95:5) at $512 per tonne cfr. Market participants were unsure of the premium for this transaction over HMS 1&2 (80:20),...Read More
Turkish domestic scrap prices have increased during the week to Monday October 18 in line with rising imported scrap values, market participants said.Turkish steelmakers have been paying higher prices for deep-sea scrap in recent weeks due to limited supply and firm demand.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $489.99 per tonne on Mo...Read More
Brazilian iron ore producer Vale has signed a memorandum of understanding with Chinese steel group Jiangsu Shagang to explore low-carbon steelmaking solutions, the former said on Monday October 18.The companies intend to develop feasibility studies on using products such as higher-purity iron ore, which has a lower carbon footprint, in the iron-making process, and cooperation on Tecnored facilitie...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