The striking workers union at Caserones said that it was prepared for a "lengthy strike" on Wednesday August 25, after rejecting Minera Lumina Copper Chile's latest wage offer. 96% of members of the workers union at Caserones rejected the company's latest wage offer to the union and criticized the company for "presenting a new offer without first having talks". The union noted that it hopes t...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Iranian export prices for steel billet continued to decrease in the week to Wednesday August 25 amid the general global downtrend, Fastmarkets heard.Steel output from the country's mills was expected to improve in September, when the weather will be less hot and mills will be allowed a more generous allocation of electricity to be used for steelmaking.For the moment, Iranian producers had to cut p...Read More
A summary of Chinese battery materials producer GEM's financial and production results for the six months ended June 30, 2021, as released by the company on Thursday August 26.In brief GEM's annual capacity of ternary precursor materials totaled 130,000 tonnes at the end of June, unchanged from the end of last year. The company has shifted production focus to nickel-rich ternary precursor material...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Most base metals prices on the London Metal Exchange fell during morning trading on Thursday August 26 ahead of the Jackson Hole symposium, with aluminium stock being delivered into Port Klang while warrant cancellations for large quantities of copper continued for a fourth day. Lead's three-month price, for example, was down by 1.6% at 9am on Thursday, at $2,281.50 per tonne. This compares with a...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Investors are waiting for an update on U.S. monetary policy by Federal Reserve chairman Jerome Powell at the Jackson Hole Symposium at 10:00 AM EDT.U.S. index futures were virtually unchanged following release of July Personal Income and July Personal Spending at 8:30 AM EDT. Consensus f...Read More
Domestic long steel prices in Turkey have continued to weaken in line with falling scrap costs and the strengthening lira, market sources said on Thursday August 26.Turkish steel producers were keeping their deep-sea scrap purchases at a slow pace to be able to put downward pressure on scrap prices.The most recent deep-sea scrap trade was recorded on August 25, when a steel mill in the Iskenderun...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price movesDalila Ouerghi and...Read More
China's domestic rebar prices decreased on Thursday August 26 due to weaker restocking demand among trading companies, though end users' buying appetite remained steady. DomesticEastern China (Shanghai): 5,150-5,180 yuan ($794-799) per tonne, down by 50 yuan per tonneTrading houses have almost completed their restocking for sale in the first half month of September, a trader in Shanghai said. As s...Read More
Base metals prices on the London Metal Exchange were weaker on the morning of Thursday August 26, although for the most part they seem to be consolidating after recent volatility. Asian-Pacific equity indices mainly weaker this morning while broader markets focus on Friday's United States Federal Reserve Jackson Hole symposium More companies report that supply shortages are affecting their ability...Read More
A summary of Australian spodumene concentrate miner Pilbara Minerals' annual results for the year ending June 30 2021.In brief The company posted positive earnings before interest, taxes, depreciation and amortization (Ebitda) of $21.4 million in financial year (FY) 2021, compared with a $33.9 million loss in Ebitda in 2020....Read More
Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.This includes projects and targets for green steel, carbon capture, carbon neutral, net zero, low-carbon emissions and fossil-free steel. Hotspots appear in Germany, France and Sweden, where steelmaking is already well established. Policy, funding and sharing of infras...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price movesDalila Ouerghi and...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Spot hot-rolled coil prices in China's domestic market moved lower on Thursday August 26, with positive industry data failing to offset concerns over continued weakness in demand.DomesticEastern China (Shanghai): 5,650-5,700 yuan ($872-880) per tonne, down by 20-40 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange saw losses accelerate during afternoon trading Thursday af...Read More
China imported 3.77 million tonnes of coking coal in July, down by 49% year on year and 9% lower month on month, according to the latest Chinese customs data.Russia remained China's largest supplier of coking coal for a third month in July, accounting for 33% of total imports.Canada (23%), the United States (17%), and Mongolia (13%) were China's second-, third- and fourth-largest suppliers last mo...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More