China's domestic stainless steel prices surged rose sharply over the week to Wednesday September 23 amid tight supply and steady demand.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,800-22,500 ($3,370-3,478) per tonne, up by 2,800 yuan per tonne from a week earlier Prices have risen to their highest since September 2011.Jiangsu province, a major stainless steel product...Read More
Peruvian miner Buenaventura's Uchucchacua zinc, lead and silver mine in the center of the country has been put under blockade by members of the local community, halting all mining and logistics activity at the site.Access to the mine has been blocked by members of the Oy??n province community since September 13, with only essential operations still being carried out, Buenaventura said on Wednesday...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
Australian mining and exploration company Sandfire Resources will buy Spain's Minas de Aguas Te??idas (Matsa) for $1.87 billion from Trafigura and the Mubadala Investment Co, the company said on Thursday September 23.The deal is expected to be completed in the first quarter of 2022. As part of the transaction, Trafigura will retain the life-of-mine 100% offtake agreement for copper concentrates fr...Read More
Base metals prices were mixed on both the LME and SHFE on Thursday September 23, with the broader markets welcoming the news that Chinese property giant Evergrande has avoided imploding, for now, and not spooked by the US Federal Reserve's more hawkish outlook.Chairman Jerome Powell says the United States Federal Reserve could "easily move ahead" with its decision about when to taperEvergrande sha...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
China's domestic rebar prices held steady on Thursday September 23 after surging a day earlier, with demand among stockists dropping during the day. Domestic Eastern China (Shanghai): 5,800-5,840 yuan ($897-903) per tonne, unchanged Stockists held off from restocking further during the day amid losses in the futures market. They are not expecting prices to experience much upside in the near term.O...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 23 that are worth another look.General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday...Read More
Base metals prices on the London Metal Exchange were largely up on Thursday September 23; the market continued to cautiously anticipate the outcome for Chinese real estate giant Evergrande while the debt deadline edges closer. "Equity markets have made a steady start so far on Thursday," James Moore, analyst at Fastmarkets said, "even after the United States Federal Reserve signaled that it will s...Read More
Crude steel output in Germany increased by 3.40% year on year in August, the German steel federation, WV Stahl, said on Thursday September 23.German crude steel production totaled more than 2.93 million tonnes in August 2021, up from 2.83 million tonnes in August last year."The upward trend in crude steel production in Germany continued in August, but the pace [of growth has slowed]," WV Stah...Read More
A summary of China's battery raw materials exports for August 2021, according to the latest Chinese customs data.In briefChina's cobalt metal exports rose in August to their highest so far in 2021 amid improved overseas demand among European buyers.Exports of cobalt tetroxide fell both on a month-on-month and a year-on-year...Read More
Key data from the Wednesday September 22 pricing session in China.Key drivers Spot cobalt metal price jumps amid rising local futures prices and a rally in the international benchmark metal price in the first two days of the week.Chinese prices for...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 23 that are worth another look.General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday...Read More
Turkish alloy steelmaker ??emtas has started production at its new stabilizer line for supplying steel to commercial vehicle producer Man, ??emtas said on Tuesday September 21.Located in Bursa, ??emtas has a crude-steel production...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 23 that are worth another look.General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday...Read More
Fastmarkets proposes to amend the publishing time of the weekly India HMS assessment on Friday, from 4:30pm London time to 4:00pm London time, to align better with the publishing time of the India and Pakistan ferrous scrap indices.The shredded indices for India and Pakistan are both published at 4pm London time on a Friday, and the India HMS assessment will be brought in line with this, to offer...Read More
A summary of China's battery raw materials exports for August 2021, according to the latest Chinese customs data.In briefChina's cobalt metal exports rose in August to their highest so far in 2021 amid improved overseas demand among European buyers.Exports of cobalt tetroxide fell both on a month-on-month and a year-on-year...Read More
Domestic prices for hot-rolled coil in Europe were stable to slightly lower on Thursday, while trading activity remained subdued because of bearish buyer expectations amid falling automotive demand, sources told Fastmarkets on Thursday September 23. Buyers across Europe continued to maintain a wait-and-see stance and held back from trading, sources said. The recent slowdown in the automotive...Read More
Crude steel output in Germany increased by 3.40% year on year in August, the German steel federation, WV Stahl, said on Thursday September 23.German crude steel production totaled more than 2.93 million tonnes in August 2021, up from 2.83 million tonnes in August last year."The upward trend in crude steel production in Germany continued in August, but the pace [of growth has slowed]," WV Stah...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