Fastmarkets' price index for domestic steel hot-rolled coil in Northern Europe went down day on day on Tuesday September 7 with the outlook among buyers turning negative, Fastmarkets has heard.Buyers have been holding back from trading because they wanted to take time to monitor the price trend. They expected that volumes of coil products available in the spot market would increase due to poor dem...Read More
Zinc was the main exception to an otherwise falling London Metal Exchange complex on September 7, which was a day of very quiet trading conditions - just over 10,000 lots of copper were traded by 5pm. The three-month price of zinc was at $3,044 per tonne on Tuesday at the close, a 1.2% increase from Monday's price at the same time of $3,007.50 per tonne.It set an intraday high of $3,059 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
Zinc was the main exception to an otherwise falling London Metal Exchange complex on September 7, which was a day of very quiet trading conditions - just over 10,000 lots of copper were traded by 5pm. The three-month price of zinc was at $3,044 per tonne on Tuesday at the close, a 1.2% increase from Monday's price at the same time of $3,007.50 per tonne.It set an intraday high of $3,059 per tonne...Read More
Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved. Despite the political uncertainties, the operations of mining projects...Read More
The European Union is considering imposing tariff-rate quotas on steel and aluminium exports to the United States in a bid to reach an agreement with the US on its plans to exempt the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel an...Read More
Seaborne iron ore prices rebounded on Tuesday September 7, although buying activity remained sluggish for mainstream iron ore fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $137.97 per tonne, up by $5.59 per tonne62% Fe low-alumina fines, cfr Qingdao: $138.10 per tonne, up by $5.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.69 per tonne, up by $5.99 per...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
Prices for hot-rolled coil in the United States retreated to just below the $97-per-hundredweight mark after establishing a record high on the previous business day.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.99 per hundredweight ($1,939.80 per short ton) on Tuesday September 7, a decrease of 0.35% from the all-time high of $97.33 per cwt set on Friday Septemb...Read More
Demand for steel rebar in the United Arab Emirates improved in the first week of September compared with August, while prices remained stable, sources told Fastmarkets on Tuesday, September 7.Demand picked up last week because of low stock levels and buying has been strong so far this week, sources said.Domestic rebarSince August 24, the country's biggest steel producer, Emirates Steel, has been o...Read More
Mexican light vehicle production decreased by 21.44% year on year in August, according to figures released by national statistics agency Inegi on Monday September 6. Vehicle output reached 237,040 units last month, compared with 301,739 in August 2020.The country's automotive output has been limited, with...Read More
The export market for steel hot-rolled coil from the Commonwealth of Independent States went down during the week ended Monday September 6 on low demand because buyers were cautious about possible further price drops.Fastmarkets' weekly assessment of the price for steel HRC, export, fob Black Sea, CIS, was $865-885 per tonne on Monday, down from $880-900 per tonne a week earlier.Sales of Ukraine-o...Read More
Australian mining company Nickel Mines has acquired 100% of the interest in the Siduarsi nickel-cobalt project in the Papua province of Indonesia, it said in a press release published on Thursday September 2.The Siduarsi site covers 16,470 hectares, with the highest individual grades of 2.07% nickel and 0.36% cobalt recorded across a 1-meter vertical channel sample.The project's potential was prom...Read More
Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved. Despite the political uncertainties, the operations of mining projects...Read More
Base metals prices on the London Metal Exchange were mostly lower on the morning of Tuesday September 7 amid extremely thin trading, with zinc being the only exception with a $10 per tonne increase. The LME zinc price was at $3,017.50 per tonne at 9am on Tuesday, with its intraday high of $3,020 per tonne during early trading being the highest since August 27. The galvanizing metal was called the...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday September 7, while all but aluminium on the Shanghai Futures Exchange were down. China's imports and exports growth accelerated in August, compared with July's increases... ...this despite Covid-19 disruptions and container shortagesBase metalsThree-month base metals prices on the LME were mainly weaker th...Read More
An upcoming spate of steel mill outages in the United States could support domestic hot-rolled coil prices over the crucial contract negotiation period despite weaker demand from the automotive industry, according to market participants. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $97.33 per hundredweight ($1,946.60 per short ton) on Friday September 3, setti...Read More
Australian mining company Nickel Mines has acquired 100% of the interest in the Siduarsi nickel-cobalt project in the Papua province of Indonesia, it said in a press release published on Thursday September 2.The Siduarsi site covers 16,470 hectares, with the highest individual grades of 2.07% nickel and 0.36% cobalt recorded across a 1-meter vertical channel sample.The project's potential was prom...Read More
Mexican ferrous steel scrap prices inched down in the week ended Friday September 3, and market participants believe new price reductions are unavoidable.Some scrap buyers were implementing price cuts of 250 pesos ($12) per tonne last week for obsolete grades for some sellers, while others did not see any changes.But most sellers also believed that further price decreases were a certainty, includi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More