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
Commodities merchant IXM, wholly owned by China Molybdenum Co Ltd (CMOC), is close to announcing its acquisition of warehousing and logistics firm Access World from Glencore, people familiar with the matter told Fastmarkets.The situation is still fluid - there are other bidders for the business - but a deal is expected to be announced imminently, the people said.Glencore, which declined to comment...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
Base metals prices on the London Metal Exchange performed well during the day but largely failed to hold momentum by 5pm on Thursday August 26, despite reaching intraday highs above Wednesday's closing levels.The aluminium three-month contract hit $2,639 per tonne during Thursday's trading, just $3 per tonne below its latest year-to-date high of $2,642 per tonne from July 30.It was the most traded...Read More
Turkey's reinforcing bar and wire rod export prices have continued to fall over the past week amid sluggish demand, supported by softening scrap costs, market participants told Fastmarkets on Thursday August 26.The country's steelmakers have reduced their rebar offers for exports to $670-675 per tonne fob on actual-weight basis from $680-695 per tonne fob last week. But no significant bo...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
Japanese lower-grade scrap prices are facing renewed pressure, and Shindachi busheling prices have continued to be propped up in recent weeks by reduced generation at automaker Toyota, sources told Fastmarkets.Key Japanese mills reduce some scrap bid pricesGaps between bids and offers narrow downward with lower cost scrap emerging in the Chinese marketTaiwan imported containerized scrap prices edg...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
Commodities merchant IXM, wholly owned by China Molybdenum Co Ltd (CMOC), is close to announcing its acquisition of warehousing and logistics firm Access World from Glencore, people familiar with the matter told Fastmarkets.The situation is still fluid - there are other bidders for the business - but a deal is expected to be announced imminently, the people said.Glencore, which declined to comment...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
Brazil's Companhia Brasileira de Alum?-nio (CBA) expects to finish a feasibility study for its Rondon bauxite mine by year-end 2022, but will need a strategic partner for the operation's start-up, the aluminium company said on Thursday August 26."We expect this process to develop for around 18 more months, or until the end of next year," chief financial officer Luciano Alves said in a press confer...Read More
Japanese lower-grade scrap prices are facing renewed pressure, and Shindachi busheling prices have continued to be propped up in recent weeks by reduced generation at automaker Toyota, sources told Fastmarkets.Key Japanese mills reduce some scrap bid pricesGaps between bids and offers narrow downward with lower cost scrap emerging in the Chinese marketTaiwan imported containerized scrap prices edg...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
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
Seaborne premium hard coking coal and hard coking coal prices in the cfr market both increased by over $16 per tonne on Thursday August 26, with rising offer prices and market expectations.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.93 per tonne, up $17.09 per tonneHard coking coal, cfr Jingtang: $385.67 per tonne, up $20.36 per tonnePremium hard coking coal fob DBCT: $243.98 p...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
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