Seaborne iron ore prices fell on Thursday September 9 amid inspections by authorities in Jiangsu province, which may have prompted weakness in iron ore demand, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $130.26 per tonne, down $1.93 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.92 per tonne, down $2.37 per tonne58% Fe fines high-grade premium, cfr Qingdao: $104.92 p...Read More
A major copper industry group in Chile has presented an alternative tax reform plan to the government, amid an ongoing legislative process to tap into revenues and retain mining-related capital from the Latin American country's inland given the red metal's price recent rally. On August 31, the Chilean Center for Copper and Mining Studies (Cesco), delivered its own proposal to the Chilean Sena...Read More
Traditional relationships between prime steel scrap and lower-grade material in key Asian markets have shattered over recent months, market sources told Fastmarkets in early September 2021.Busheling scrap - which is known as Shindachi in Japan - is a prime scrap grade generated from offcuts from the making of steel sheet-intensive products such as vehicles and white goods. Reduced output at leadin...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
The US Department of Commerce has issued final anti-dumping determinations on steel concrete reinforcing bar from Mexico following an administrative review, the agency said on Thursday September 9.The department determined that rebar from Mexico was sold in the United States at less than normal value during the period of review from November 1, 2018, through October 31, 2019. The following pr...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
Chinese cobalt tetroxide prices moved up on improved demand from downstream consumers in the first half of this week, with most producers raising their offers, sources told Fastmarkets on Wednesday September 8.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China narrowed up to 275,000-285,000 yuan ($42,568-44,116) per tonne on September 8, from 270,000-285,000 yuan per...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
China's domestic rebar prices increased sharply on Thursday September 9 after the news that Jiangsu will restrict steel production in the remaining months of this year.DomesticEastern China (Shanghai): 5,410-5,440 yuan ($837-842) per tonne, up by 90-110 yuan per tonne.Jiangsu province will be conducting decarbonization compliance inspections of local enterprises with high energy consumption and em...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Road blockades throughout Brazil have disrupted transportation on important routes in five different states, with access to main steel trade hub, S??o Francisco do Sul port, cut off by truckers' demonstrations, Fastmarkets learned on Thursday September 9.The port of S??o Francisco do Sul, in Brazil's southern state of Santa Catarina, had to stop unloading ships on Wednesday September 8, two source...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Chinese cobalt tetroxide prices moved up on improved demand from downstream consumers in the first half of this week, with most producers raising their offers, sources told Fastmarkets on Wednesday September 8.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China narrowed up to 275,000-285,000 yuan ($42,568-44,116) per tonne on September 8, from 270,000-285,000 yuan per...Read More
Domestic steel reinforcing bar prices in the United States were flat in the week to Wednesday September 8, while imported rebar prices slipped.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday, unchanged since August 11 but up by 68.38% from $29.25 per cwt at the same time last year.US marketMarket participants lar...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
Base metals prices were higher on the London Metal Exchange but mixed on the Shanghai Futures Exchange this morning, Thursday September 9, but equity markets in Asia-Pacific were weaker with participants once again nervous about possible central bank tapering. Market participants focused on whether the European Central Bank (ECB) will signal it is ready to start tapering - the ECB meets today Bet...Read More
Sellers of Japanese scrap have closed deals to both Bangladesh and Vietnam at lower prices, market participants told Fastmarkets on Thursday September 9.Japan sells cargoes to Vietnam, BangladeshTaiwan containerized scrap prices steadyChina's bids edge upward amid futures gainsJapanThe September Kanto Tetsugen auction was concluded for Japanese H2 scrap on Thursday morning at an average of ?46,26...Read More