Here are five Fastmarkets stories you might have missed on Friday September 17 that are worth another look.A dire shortage of truck drivers and rail cars and unforeseen levels of demand while businesses reopen from Covid-19 pandemic-related shutdowns are among the factors contributing to the current logistics woes in the United States that have sparked...Read More
Traxys, a commodity trader headquartered in Luxembourg, has hired Martim Facada as it expands its global lithium trading business, the company announced on Monday September 20.Facada had previously been a lithium broker at commodity brokerage firm SCB Group. Prior to that, he was a lithium...Read More
Base metal futures all closed in the red on Monday after fears over China's property building sector prompted a selloff in global financial markets.At the 5pm close on Monday, London Metal Exchange three-month copper futures were at $9,033 per tonne, down by $279 - or 3% - against Friday's end of market levels. Aluminium dropped the least of the complex, down by 0.77% at $2,863 per tonne.China's s...Read More
Iron ore prices moved down on Monday September 20, with Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao falling below $100 per tonne for the first time in 14 months.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.98 per tonne, down $8.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.07 per tonne, down $9.88 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.73 pe...Read More
Seaborne coking coal prices in the fob market on Monday September 20 were up amid firm buying interest and limited supply in the physical spot market, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $565.77 per tonne, unchangedHard coking coal, cfr Jingtang: $491.97 per tonne, unchangedPremium hard coking coal, fob DBCT: $386.11 per tonne, up by $6.77 per tonneHard c...Read More
Base metal futures all closed in the red on Monday after fears over China's property building sector prompted a selloff in global financial markets.At the 5pm close on Monday, London Metal Exchange three-month copper futures were at $9,033 per tonne, down by $279 - or 3% - against Friday's end of market levels. Aluminium dropped the least of the complex, down by 0.77% at $2,863 per tonne.China's s...Read More
Falling finished flat steel prices in the Commonwealth of Independent States and in major slab buying outlets pressured prices for the semi-finished product in the week to September 20.Export hot-rolled coil prices from Turkey fell by $20-50 per tonne over the week because customers targeted lower prices.Fastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey was $900...Read More
Budweiser Brewing Group, the UK arm of Belgium-based brewer Anheuser-Busch InBev (AB InBev), has launched a pilot project to produce beer cans made of low-carbon aluminium in partnership with the metals division of En+ Group, rolling company Eval and beverage can maker Canpack.According to En+ Group, the project will see the production of 5 million Budweiser cans made with metal produced using a n...Read More
The first generation of nickel mining created sulfur dioxide emissions, and the second generation created carbon dioxide emissions, but Canada Nickel will, in effect, create neither when it starts to produce nickel in 2025-26, chief executive officer Mark Selby has told Fastmarkets.Selby is also chairman and a founding shareholder of the company. It was formed in September 2019 to develop the Craw...Read More
Aurubis Stolberg will gradually resume production at its operations in Germany's North Rhine-Westphalia region from November 1, the company said on Monday September 20.The plant was shut on July 16 due to damage caused by flooding and the company declared force majeure."According to current information, it will be possible to start manufacturing certain strip...Read More
Imports of non-ferrous and ferrous scrap in Malaysia will be effectively banned from November under a new policy that sets stricter impurity thresholds than those applied by other Asian countries, a major industry body has told Fastmarkets.Despite industry opposition, the Malaysian government has decided to set a 0% impurity threshold for three major scrap import products into the country, includi...Read More
Here are five Fastmarkets stories you might have missed on Friday September 17 that are worth another look.A dire shortage of truck drivers and rail cars and unforeseen levels of demand while businesses reopen from Covid-19 pandemic-related shutdowns are among the factors contributing to the current logistics woes in the United States that have sparked...Read More
Nucor Corp plans to spend roughly $2.7 billion to build a 3-million-ton "lower-carbon" sheet mill to serve customers in the Midwest and Northeast markets, particularly in the automotive sector, the steelmaker announced on Monday September 20.The Charlotte, North Carolina-based company is evaluating locations in Ohio, Pennsylvania and West Virginia. The 84in greenfield mill will produce hot-rolled...Read More
Brazilian apparent steel consumption rose by 22.7% in August amid soaring imports of flat and long products, according to figures released by the country's steel institute, A??o Brasil.Apparent steel use reached 2.34 million tonnes last month, up from 1.91 million tonnes in August 2020, the institute said on Friday September 17.Flat steel consumption rose by 25.4% to 1.34 million tonnes, while lon...Read More
European buyers of hot-rolled coil were holding back from making new deals on Monday September 20 on expectations of a price decline, sources have told Fastmarkets.Negative sentiment has been generated by reduced demand for flat steel from the automotive sector. European car manufacturers were unlikely to consume coil at the rate previously expected because of the global shortage of semiconductor...Read More
Weakening sentiment in the European hot-rolled coil market has been driven by reduced demand from the automotive sector and high volumes of imports awaiting customs clearance, sources said during the week to Friday September 17.European automotive manufacturers are unlikely to consume coil products at the rate previously expected due to the knock-on effects of the global shortage of semiconductor...Read More
Egypt consumed 720,000 tonnes of rebar in August 2021, 61.43% more than the 407,000 tonnes consumed in August 2020, Ramy Saleh, chief business development officer at El Marakby Steel, said.The country's rebar consumption in July 2021 was 407,000 tonnes, Saleh added.The reason for the increased...Read More
Turkish steel mills started the week in silence, with deals from the previous week just coming to light, market participants told Fastmarkets on Monday September 20.A shipment of United States-origin scrap was heard booked last Wednesday by a mill in the Iskenderun region, comprising unspecified volumes of HMS 1&2 (90:10) at $442...Read More
Turkish domestic scrap prices were stable amid moderate demand and low stock levels during the week to Monday September 20, sources told Fastmarkets.Scrap import prices in Turkey increased last week, with several deals heard.Fastmarkets' index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at...Read More
Iron ore prices moved down on Monday September 20, with Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao falling below $100 per tonne for the first time in 14 months.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.98 per tonne, down $8.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.07 per tonne, down $9.88 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.73 pe...Read More