China is stepping up measures to ensure there is enough electricity supply for heavy industries amid ongoing power restrictions in various parts of the country.The National Development & Reform Commission (NDRC) will look into allowing more thermal coal imports and higher domestic production of the raw material to increase electricity generation rates, a spokesman for the commission said at a pres...Read More
Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), with a base rate of 15% and specific minimum rate for each product, will remain in effect until December 31, 2021.It is mainly m...Read More
Environmental, social and governance (ESG) investors should be reducing exposure to plug-in hybrid- and fuel cell-weighted automotive supply chains and focusing instead on battery electric vehicles (BEV), according to a report by Jefferies. Ford's recent announcement of record-setting investment in electric vehicles (EVs) gives a clear signal to the market: BEVs are the future, with hybrids a...Read More
Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%."Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of...Read More
Environmental, social and governance (ESG) investors should be reducing exposure to plug-in hybrid- and fuel cell-weighted automotive supply chains and focusing instead on battery electric vehicles (BEV), according to a report by Jefferies. Ford's recent announcement of record-setting investment in electric vehicles (EVs) gives a clear signal to the market: BEVs are the future, with hybrids a...Read More
Fastmarkets has corrected the pricing rationales for MB-CO-0004 cobalt alloy grade, in-whs Rotterdam, $ per lb, and MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which were published incorrectly on Thursday September 30 due to reporter and editor errors.The rationale for the cobalt alloy grade, in-whs Rotterdam, $ per lb has been corrected to state that the assessed range move...Read More
Seaborne iron ore prices increased on Thursday September 30, after reports of a fatality at Fortescue Metals Group's (FMG) Solomon Hub in Western Australia, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.23 per tonne, up $5.10 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.94 per tonne, up $6.92 per tonne58% Fe fines high-grade premium, cfr Qingdao: $91....Read More
Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%."Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of...Read More
Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), with a base rate of 15% and specific minimum rate for each product, will remain in effect until December 31, 2021.It is mainly m...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
The suspension of activity in the vicinity of the Xingu dam in Vale's Mariana iron ore complex has been partially revoked, allowing the associated railway to resume activities, the Brazilian company said on Thursday September 30.The Regional Labor Superintendence (SRT) had issued an order to partly reverse the suspension of operations to allow the resumption of transportation along the Vit??ria-Mi...Read More
The European market for steel hot-rolled coil remained quiet on Thursday September 30, with buyers continuing to hold back from trading in expectation of more substantial price declines amid slower end-user demand, sources told Fastmarkets.Buyers in Europe have been waiting for the new quota period to begin on October 1before assessing the "real volumes that will enter the market," they said."The...Read More
The European Commission (EC) has started an anti-dumping investigation into flat electrolytic chromium-coated steel (ECCS) imports from China and Brazil, the EC said in the official journal of the European Union on September 24.The case was opened after European steel association Eurofer lodged a complaint on August 13, 2021.The product...Read More
Local rebar prices in Egypt remained stable in the week to Thursday September 30, supported by ample demand from government projects, sources told Fastmarkets."Demand is good for the second consecutive month, driven by state projects in infrastructure and housing sectors," a local steelmaker told Fastmarkets.For example, domestic rebar consumption in August was 720,000 tonnes in Egypt, up by 76.7%...Read More
Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%."Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
Seaborne cfr prices increased on a new deal on Thursday September 30; sources expect seaborne coking coal prices in the cfr market to edge up after China's National Day holiday, partly due to the ongoing power shortage.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, up $10.39 per tonneHard coking coal, cfr Jingtang: $565.14 per tonne, up $30.28 per tonnePremium hard c...Read More
Domestic steel reinforcing bar prices in the United States were stable in the week to September 30, with some market participants saying that upward price momentum has come to an end."I think we have hit the wall," an East Coast distributor source said. "Jobs have been canceled or delayed, inventories are not being replenished to previous levels, and just having the bar does not get you the order...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
Steel beam prices rose in the United States' domestic and import markets on Thursday September 30 in response to a third round of mill increases. Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $68 per hundredweight ($1,360 per short ton) on Thursday September 30, up 3.82% from $65.50 per cwt on August 26, and up 7.94% from $63 per cwt on July 29.Fastmarkets' as...Read More