Italian stainless steel re-roller Marcegaglia Specialties reported a fire at one of its flat product pickling lines on Thursday October 14 and will be out of action for two to three months, a company source told Fastmarkets on October 15.The pickling line, which is located at the company headquarters in Gazoldo Degli Ippoliti in northern Italy, has a capacity of 15,000 tonnes per month. The compan...Read More
Less stringent restrictions on power supply in some areas of China have led to a boost in steel production levels and ferrous scrap demand at some mills in recent days, sources told Fastmarkets on Friday October 15.?EUR?Less strict power rationing helps support China scrap prices?EUR?Import prices in China inch up amid higher bids from buyers?EUR?South Korea buys high-grade Japanese scrap.ChinaThe...Read More
An oversupply of emissions trading credits in China by more than 1.5 billion tonnes of carbon dioxide will likely cap carbon prices in the country, TransitionZero carbon analyst Matt Gray told Fastmarkets in an interview.China kicked off an emissions trading scheme (ETS) on July 16, with the first phase of its carbon experiment centered on thermal coal-fired power plants. Other heavy industries su...Read More
Spot prices for imported ferrous scrap in key market Vietnam increased week on week, although higher offers from sellers have seen buying interest subside from last week.Offers for bulk heavy melting scrap (HMS) 1&2 (80:20) were at $550 per tonne cfr Vietnam, with bids at $535-540 per tonne cfr Vietnam.There remained interest for bulk deep-sea HMS 1&2 (80:20) cargoes from the United States' West C...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...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
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 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
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
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...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
Here are five Fastmarkets stories you might have missed on Thursday October 14 that are worth another look.Rio Tinto will test the use of biomass in place of coking coal in the steelmaking process in a small-scale pilot plant, in an attempt to cut the industry's carbon emissions through the use of...Read More
There was a mixed outcome in settlement negotiations for domestic steel scrap deliveries to UK steelmakers in October, with suppliers resisting downward pressure from consumers because of firm export markets, trade sources said on Thursday October 14.Scrap suppliers won increases across the board for low residual and clean grades of scrap, with rollovers agreed in contracts for other grades assess...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
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
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
Chile will allow companies to bid for licenses for the extraction of 400,000 tonnes of lithium, the country's mining ministry said on Thursday October 14.Prospective bidders have until December 21 to submit their proposals to extract the critical battery mineral.The tender opened on Thursday to both national and international bidding. It will "tender and award Special Operation Contracts (CEOL) by...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
Chinese battery materials producer GEM has signed a memorandum of understanding with EcoPro BM, a subsidiary of South Korean battery cathode materials producer EcoPro, for the supply of battery raw materials over 2024-2026.Under the agreement, GEM will provide EcoPro BM with a total of 650,000 tonnes of high-nickel content nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminium (NCA) ternary pre...Read More
Indian hot-rolled coil export prices have increased by about $15-25 per tonne in the week to Thursday October 14 because of strong domestic demand, Fastmarkets has heard.Mills this week have concluded HRC export bookings at prices in the range of $860-870 per tonne fob, mainly to destinations in the Middle East. This was about $15-25 per tonne higher compared with previous bookings in the range of...Read More