Domestic prices for hot-rolled coil in Northern Europe and Italy remained fairly stable on Thursday October 14 due to limited trading activity, sources have told Fastmarkets.European mills have been trading reduced volumes of coil and mainly holding back from making big deals. Prices have been under downward pressure from weak automotive sector demand, high stock levels at distributors and substan...Read More
Seaborne iron ore prices rose on Thursday October 14 amid active trading activity in the spot market and at Chinese ports because of a slight increase in buying interest, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $125.91 per tonne, up by $1.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $127.60 per tonne, up by $2.51 per tonne58% Fe fines high-grade premiu...Read More
Seaborne coking coal prices in the cfr China market increased on Thursday October 14 due to necessary restocking activities from Chinese steel mills; fob prices remained largely flat, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $610.15 per tonne, up $1.30 per tonneHard coking coal, cfr Jingtang: $562.53 per tonne, up $3.07 per tonnePremium hard coking coal, fob D...Read More
Brazil-based multi-metal producer Nexa Resources has received an operating license for its Aripuan?? zinc-lead-copper project in Brazil, with commercial output scheduled to start next year, the company said on Wednesday October 13.According to Nexa, the license was granted by the Mato Grosso state environmental secretariat, Sema, on October 7. Mato Grosso is a state in the Brazilian midwestern reg...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has announced measures intended to reduce its consumption of natural gas after an increase in global prices.The company did not say whether the measure would affect its steel production, but it planned to gradually replace natural gas with gas generated in the steelmaking process.Ahmsa is a major steel producer and ferrous scrap consu...Read More
European distributors of flat steel products reported a minor year-on-year increase in shipment volumes for August 2021, regional steel industry association Eurometal said on October 13.Growth in shipment volumes slowed to 0.5% in August from a rise of 3.4% in July and of 24.3% in June.In the first eight months of 2021, flat steel shipments in the European Union and the United Kingdom increased by...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has announced measures intended to reduce its consumption of natural gas after an increase in global prices.The company did not say whether the measure would affect its steel production, but it planned to gradually replace natural gas with gas generated in the steelmaking process.Ahmsa is a major steel producer and ferrous scrap consu...Read More
Turkish steel mills are continuing to book deep-sea scrap at higher prices, market participants told Fastmarkets on Thursday October 14.A steel mill in the Iskenderun region booked a US cargo at $486 per tonne cfr on an HMS 1&2 (80:20) basis. However, the cargo composition was not clear at the time of publication.The previous deep-sea transactions, on Wednesday October 13, were concluded at $480 p...Read More
Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operation...Read More
Iranian exporters sold significant quantities of steel billet and slab via tender in the week to Wednesday October 13, achieving small, but firm price increases on the deals, sources told Fastmarkets.Fastmarkets' price assessment for steel billet, export, fob ports Iran increased to $640.00-642.50 per tonne fob on October 13, up by $2.50-5.00 per tonne from $635-640 per tonne fob a week earlier.On...Read More
The European Commission (EC) has extended anti-dumping duties on imports of wire rod from China until 2026, the Official Journal of the European Union said on October 13.The EC concluded that dumping would likely recur if the current measures were allowed to lapse. This followed an expiry review lodged by the European steel association, Eurofer, in July 2020 on behalf of...Read More
The EU and its member states must do more to assist domestic metals producers after the European Commission this week issued its "toolbox" to tackle a surge in energy prices that was forecast to last through the coming winter, according to regional non-ferrous metals industry body Eurometaux.The EC on Wednesday October 13 proposed short-term national measures that would include state aid for compa...Read More
The Port of Los Angeles plans to operate around the clock seven days a week to address a growing backlog of shipments waiting in cargo containers anchored offshore to be unloaded at the port.The port announced the move on Wednesday October 13, joining a similar effort that began at the nearby Port of Long Beach in September.The port is figuring out the details of how it will work with supply chain...Read More
Regulation has been an important driver for the push toward clean energy technologies but industry has accelerated this mindset, the chief executive officer of Nth Cycle said.According to Megan O'Connor, the past several administrations in the United States have prioritized establishing a domestic supply of critical minerals used to power the energy transition. "Whether rare earths for critical de...Read More
An overview of the consumer electronics markets and their latest price moves.Fola Malomo and Janie...Read More
Diversified miner South32 is to buy a 45% interest in the Sierra Gorda copper mine in Chile from Sumitomo Metal Mining, the Australian company said on Thursday October 14.The acquisition is consistent with its strategy to reshape South32's portfolio for a low-carbon future, it said, producing materials critical for global decarbonization and the energy transition.Sierra Gorda, located in the Antof...Read More
China's domestic demand for stainless steel has weakened in the past few week due to a widespread electricity shortage across the country, which weighed on prices in the week to Wednesday October 13.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,000-21,200 ($3,260-3,291) per tonne, narrowed downward by 200 yuan per tonne from September 29. The power shortage has resulte...Read More
Base metals prices on the London Metal Exchange were up at the 5pm close of trading on Thursday October 14 on a weaker US Dollar Index, and continuing power supply issues that were squeezing metal supply."Chinese factory-gate pricing in September may have grown at its fastest pace in 26 years, adding to the 'stagflation' growth threats moving down the line. But in the here and now, power and suppl...Read More
Base metals prices on the London Metal Exchange were up at the 5pm close of trading on Thursday October 14 on a weaker US Dollar Index, and continuing power supply issues that were squeezing metal supply."Chinese factory-gate pricing in September may have grown at its fastest pace in 26 years, adding to the 'stagflation' growth threats moving down the line. But in the here and now, power and suppl...Read More
The European Commission (EC) has extended anti-dumping duties on imports of wire rod from China until 2026, the Official Journal of the European Union said on October 13.The EC concluded that dumping would likely recur if the current measures were allowed to lapse. This followed an expiry review lodged by the European steel association, Eurofer, in July 2020 on behalf of...Read More