Seaborne coking coal prices increased across the board in both the cfr and fob markets on Tuesday August 31 amid ongoing tight supply, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $421.85 per tonne, up by $7.30 per tonneHard coking coal, cfr Jingtang: $392.81 per tonne, up by $2.60 per tonnePremium hard coking coal, fob DBCT: $255.70 per tonne, up by ...Read More
Manganese markets were quiet in the week ended Friday August 27, with buyers expecting miners to reduce their offer prices for October shipments to match the port markets."[Miners] must at least offer at a level equal to the port markets to attract buying interest, otherwise smelters will just buy from the spot market," a manganese ore buyer said. "And traders would further lower their purchase am...Read More
Seaborne iron ore prices were down on Tuesday August 31 amid suggestions in the local media that steel production cuts would be imposed in China's Guangxi province, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $153.67 per tonne, down by $2.99 per tonne62% Fe low-alumina fines, cfr Qingdao: $154.44 per tonne, down by $2.75 per tonne58% Fe fines high-grade premium,...Read More
London Metal Exchange prices were mixed on the morning of Tuesday August 31, with aluminium and nickel leading on the upside due to tightening fundamentals but lead's three-month price under pressure. Aluminium's three-month price reached a peak of $2,726.50 per tonne on Tuesday morning, its highest since May 2011, when the metal reached $2,746 per tonne. It was down slightly to $2,697.50 per...Read More
Aluminium's three-month price had the strongest growth in the complex this month, trading at $2,726.50 per tonne on Tuesday August 31, while most other prices on the London Metal Exchange were lower than on August 2. Aluminium closed at $2,718 per tonne on Tuesday, a rise of 2.6% from last Friday's price of $2,649.50 per tonne and up from $2,615 per tonne at the start of August. Bullish funda...Read More
The European hot-rolled coil (HRC) market remained calm on Tuesday August 31 while buyers remained in a "wait-and-see" mode, sources told Fastmarkets.Although both buyers and sellers have returned to the market after a traditionally slow August, they have been taking their time to assess market trends. Buyers' sentiment has been largely negative due to lower iron ore costs, uncertainty over automo...Read More
Steel billet and rebar prices in the United Arab Emirates decreased on Tuesday August 31 while demand for rebar improved, sources told Fastmarkets.Demand for rebar improved after a long period of poor demand due to low stock levels, sources said.The country's biggest producer, Emirates Steel, was offering rebar at 2,610 dirhams ($710.46) per tonne, and Conares Steel's rebar price was 2,574 dirhams...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
Export prices for steel billet from the Commonwealth of Independent States region continued to decrease in the week to Tuesday August 31 with the market lacking support, Fastmarkets has heard.One of the principal negative factors weighing on prices was the dearth of trading activity in the major export outlets.Last week, CIS sellers covered the demand from Latin America...Read More
Chilean copper producer Codelco signed early labor deals valid until October 2024 with two trade unions representing workers at its El Teniente division, the state-owned company said on Saturday August 28.Unions representing workers at El Teniente mine and the Caletones smelter joined the No5 union at El Teniente, which had signed a deal a week prior, Codelco said. Existing labor contracts were du...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) acquired a 49% stake in two wind power generation assets from a joint venture by sister company Votorantim Energia and the Canada Pension Plan Investment Board (CPP Investments) for 59.56 million Reais ($11.4 million), the company said on Monday August 30.The two units are a part of the Ventos do Piau?- I and II complex, located...Read More
Here are five Fastmarkets stories you might have missed on Monday August 30 that are worth another look.Spot prices for steel rebar imports into Singapore continued their downward trend in the week to August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.Read More
Hot-rolled coil (HRC) prices in China's domestic market rose sharply on Monday August 30; news of production curbs raised futures prices to their highest in more than a week.DomesticEastern China (Shanghai): 5,720-5,750 yuan ($884-888) per tonne, up by 70-120 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange hit an intraday high of 5,654 yuan per tonne in early afte...Read More
A summary of Chinese lithium producer Tianqi Lithium's financial results for the six months ended June 30, 2021, as released by the company on Monday August 30.In briefRevenue for the first half of 2021 totalled 2.35 billion yuan ($363.22 million), up by 25.13% year on...Read More
The Mexican economy secretariat has extended the period of an existing countervailing duty on imports of longitudinal welded carbon steel pipes from the Unites States, and has started an anti-dumping investigation on flat-steel imports from Vietnam.Mexico has extended the duty on welded steel tubes from US for five years starting on May 28, 2020, according to a decision published in the country's...Read More
The Mexican economy secretariat has extended the period of an existing countervailing duty on imports of longitudinal welded carbon steel pipes from the Unites States, and has started an anti-dumping investigation on flat-steel imports from Vietnam.Mexico has extended the duty on welded steel tubes from US for five years starting on May 28, 2020, according to a decision published in the country's...Read More
China's nickel sulfate price slid from its all-time high amid active spot trading in the week to Friday August 27, with easing raw material tightness and volatile nickel prices on the London Metal Exchange said to have driven the decrease.Fastmarkets assessed the price for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, at 36,500-38,000 yuan ($5,639-5,871) per tonne on August 27, d...Read More
The magnesium branch of China Nonferrous Metals Industry Association (CNIA) published a proposal on August 27 calling for the healthy development of the magnesium industry. This came amid surging metal prices.Fastmarkets' weekly price assessment for magnesium, 99.9%, exw China, was 25,000-26,000 yuan ($3,862-4,017) per tonne on Friday August 27, an increase of 2,800-3,600 yuan per tonne or 14.3% f...Read More
Here are five Fastmarkets stories you might have missed on Monday August 30 that are worth another look.Spot prices for steel rebar imports into Singapore continued their downward trend in the week to August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.Read More
The latest data for the global manganese ore market for the week ended August 30, 2021.Read More