The challenges with container shipping, including port congestion and supply chain disruptions, are likely to continue for some time, according to an executive at shipping company Oldendorff Carriers GmbH & Co.Scott Bergeron said that while Oldendorff is a dry bulk cargo shipping firm, it was receiving a surprising number of enquiries from traditional container shipping cargo owners asking for hel...Read More
Activity remained slow in the European hot-rolled coil market on Tuesday October 5, with buyers and producers holding back from making deals, sources told Fastmarkets. Buyers have sufficient stocks to cover their needs for a couple of months, according to estimations from market sources. Sentiment among buyers has been largely bearish due to reduced demand from the automotive sector, declining imp...Read More
Zinc and tin had the strongest growth on the afternoon of September 5 while nickel closed above $18,000 per tonne for the first time since last Thursday; copper was the only metal to end lower on the day. Tin's London Metal Exchange three-month price had the biggest rise on Tuesday, with a closing price of $35,079 per tonne, up by 1.8% from $34,450 per tonne on Monday. Just over one week ago, on S...Read More
Turkish flat steel prices continued to fall through September and the market participants are not expecting any improvements in the short term, sources told Fastmarkets on Tuesday, October 5.Demand for flat steel was weak to moderate in all global markets during September.European buyers held back from trading, while the downtrend continued in the Commonwealth of Independent States.Iron ore prices...Read More
Steel scrap prices in Mexico fell again in the week ended Friday October 1, with some market participants reporting that the market could be close to a bottom.Many buyers in both of Mexico's main regions have applied price cuts for most grades, and some plan additional decreases in the week ahead."The market continues in a negative trend," a Mexican scrap seller said.One major buyer, for example,...Read More
Saarstahl Ascoval, the French subsidiary of Saarstahl, has shipped its first low-carbon steel billet to its Burbach Works, in Saarland, Germany, the company said on Tuesday October 5.The steel was produced via electric-arc furnace (EAF) at Saarstahl Ascoval, in Saint-Saulve, which combines recycling management with a new manufacturing technology using carbon-neutral electricity, the company...Read More
Brazilian iron ore export volumes decreased by 10.12% year on year in September, according to figures from the country's economy ministry.Exports totaled 33.68 million tonnes last month, compared with 37.47 million tonnes a year earlier, according to the figures released late last week.Exports from the southeastern Minas Gerais state reached 11.23 million tonnes, down from 14.11 million tonnes in....Read More
Flat-rolled steel import prices to the United Arab Emirates and Saudi Arabia decreased further during the week ended Tuesday October 5 and buyers preferred to refrain from booking until prices stop falling.End-user demand was still weak in both countries and stock levels were enough for the time being, sources said.Saudi ArabiaIndia offered hot-rolled coil at $930-940 per tonne cfr, down from...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More
Decarbonizing the shipping industry is likely to be tougher than efforts to remove its sulfur emissions, according to an executive at Oldendorff Carriers GmbH & Co.The shipping company's director of business development and strategy told a webinar that efforts by the International Maritime Organization (IMO) requiring the marine sector to cut sulfur emissions by more than 80% had been much more su...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 5 that are worth another look.Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The heads of companies representing one-third of the world's mining and metals industry...Read More
Ukrainian authorities are preparing to ban scrap exports from the country to help local steelmakers.The Cabinet of Ministers of Ukraine published a draft decree on September 30, which suggests banning the export of ferrous scrap outside Ukraine until the end of 2022.In July 2021, the country's national steel union Ukrmetallurgprom called for a ban on scrap metal exports after export volumes of the...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday October 5, while markets consolidated recent gains. But volumes have been light with Chinese participants absent due to the weeklong National Day holiday (October 1-7).Asia-Pacific equities weaker this morning as they followed Monday's weakness in the United States.Brent crude oil price back above $81 per...Read More
Swedish steelmaker SSAB will partner with Nordic construction company Peab to use fossil-free steel in construction projects from 2026 onward, both companies announced on Tuesday October 5.The two companies will analyze various future possibilities for how fossil-free steel can reduce the climate footprint in the construction industry."We are pleased to welcome Peab as a partner for our fossil-fre...Read More
Turkish deep-sea scrap import markets remained subdued on the second working day of the week, with both mills and suppliers quiet, market participants said on Tuesday October 5.The most recent deal heard was late on Friday October 1, when a steel mill in the Iskenderun region booked a European cargo comprising 5,000 tonnes of heavy melting scrap 1&2 (80:20) at $440 per tonne, and 3,000 tonnes of s...Read More
The heads of companies representing one-third of the world's mining and metals industry have signed a letter committing to a goal of net-zero Scope 1 and 2 greenhouse gas (GHG) emissions by 2050 or sooner, in line with the ambitions of the Paris Agreement.Twenty-eight companies, including Anglo American, BHP, Glencore, Rio Tinto and Vale, made a collective commitment as members of the Internationa...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs...Read More
Peru's base metals production largely rose in August versus the same month last year, the exception being zinc with output falling amid lower mined ore grades, according to data published by the ministry of energy and mines, Minem, on Monday October 4.Peruvian copper production totaled 202,942 tonnes in August, up by 4.63% from 193,965 tonnes in the same month last year. In January-August, ou...Read More
Brazilian iron ore export volumes decreased by 10.12% year on year in September, according to figures from the country's economy ministry.Exports totaled 33.68 million tonnes last month, compared with 37.47 million tonnes a year earlier, according to the figures released late last week.Exports from the southeastern Minas Gerais state reached 11.23 million tonnes, down from 14.11 million tonnes in....Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday October 5 and their latest price moves.Europe The high-carbon ferro-chrome markets continued to set new highs in response to tight supply and strong demand for material.Rising electricity prices faced by producers have added further support to offer prices.The lower end of the ranges were set by trader...Read More