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
Here are five Fastmarkets stories you might have missed on Wednesday September 29 that are worth another look....Read More
Prices for flat-rolled steel imported into South America were steady in the week to Friday October 1, with the bulk of November-shipment negotiations ending and with a week-long holiday in China drying up market liquidity.Most traders and mills were out of the market in the week, and deals were rarer. Chinese export allocations, which have already been low in recent months due to planned output cu...Read More
Rising demand led to higher ferrous scrap prices for material imported into Turkey in the week to Friday October 1, while prices in most other markets were comparatively lackluster. Turkish mills were increasingly active in the market over the week, leading to an uptick in regional import prices United States sellers were able to sell at higher levels amid an increased appetite for scrap in Turkey...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 1.ChinaHebei Iron & Steel Group (HBIS) hiked its October tender price for silico-manganese to 12,800 yuan ($1,979) per tonne, up by 4,150 yuan per tonne (48%) from that for September-delivery.The sharp increase was attributed to lingering production restrictions among smelters caused by the...Read More
Since mid-September, a swathe of provincial governments in China have imposed power cuts and rationing on local industrial users, which could cast a bigger influence on downstream fabricating sectors than previous curbs, sources said.This is the second time that industrial users have received power rationing orders in the year. The first was in July, when hot weather strained the country's grid. P...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
Since mid-September, a swathe of provincial governments in China have imposed power cuts and rationing on local industrial users, which could cast a bigger influence on downstream fabricating sectors than previous curbs, sources said.This is the second time that industrial users have received power rationing orders in the year. The first was in July, when hot weather strained the country's grid. P...Read More
Fastmarkets rounds up the key discussion points on lithium battery chemistries, sustainability and ESG from its Lithium 2021 conference that took place over September 20-22.Lithium price spikes key to chemistriesThe price of lithium will be key in determining battery chemistries, according to market participants. Sustained high prices would cause use to shrink, although few expect lithium to be re...Read More
Trading activity was limited in the seaborne market on Friday October 1 during the start of the Chinese holiday.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $115.79 per tonne, down $3.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.54 per tonne, down $3.40 per tonne58% Fe fines high-grade premium, cfr Qingdao: $88.06 per tonne, down $3 per tonne65% Fe Brazil-origin fines, cfr Qin...Read More
Seaborne coking coal prices in the fob market eased slightly on Friday October 1 on a cargo that was transacted at a lower-than-expected price, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, unchangedHard coking coal, cfr Jingtang: $565.14 per tonne, unchangedPremium hard coking coal, fob DBCT: $391.50 per tonne, down by $8.70 per tonneHard coking...Read More
Base metals prices were down on the morning of Friday October 1, extending the weakness that started to accelerate on Thursday, when the LME base metals closed down by an average of 2.3%, with tin dropping by 6.2%. The weakness was broad based with equities retreating, too. Asia-Pacific equities weaker this morning.Gold and the yen rallied on Thursday, and US treasury yields are weaker this mornin...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Demand for low-carbon aluminium units in Europe remains strong, especially for value-added products (VAP), market participants told Fastmarkets on Friday October 1.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $20-30 per tonne on Friday October 1, up from $15-25 per tonne on September 3.Market participants noted a clear gap between different VAP un...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 1.Susan Zou, Yingchi Yang and...Read More
Aluminium scrap prices in the United States continued to be underpinned by robust demand domestically and overseas, while futures prices on the London Metal Exchange remained high.Healthy business activity, particularly in the non-automotive side of the sector, pushed up some secondary smelter grades week on week, with the Fastmarkets assessment of 1-1-3 sows edging a penny either side to a range...Read More
Secondary aluminium alloy prices in the United States have soared due to sharp gains in silicon prices, and tight availability of the metal crucial to alloy production. "It's already having a huge impact on us," one US alloy producer said. Tightness in silicon markets has already led to alloy price spikes in Europe. The price rise is pushing up costs, but could also potentially significa...Read More
Alcoa Corp has announced plans to enter the high-purity alumina (HPA) market with the signing of a binding term sheet between Alcoa of Australia (AoA) and Western Australia-based FYI Resources.In a news release, Pittsburgh, Pennsylvania-based Alcoa said it intends to enter the HPA market "to address increasing demand for sustainable products through a joint development project."According to the te...Read More
Base metals prices on the London Metal Exchange were mixed at the close on Friday October 1, but the copper price was the star performer closing 2.1% higher.The three-month copper price closed at $9,128 per tonne, recovering from Thursday's dip when it closed at $8,936.50 per tonne. It hit a high of $9,143 per tonne earlier in the day."Thursday's sell-off [for copper] could be either due to invest...Read More