Brazilian exports of alumina totaled 743,794 tonnes in July 2021, a 2.55% year-on-year increase from 725,315 tonnes, with the figure boosted by increased shipments from Norsk Hydro, according to data published by the country's economy ministry on Wednesday August 4.According to the data, 412,144 tonnes of alumina were exported via the port of Bel?(C)m in the northern state of Par??, a 25.45% jump...Read More
The chrome ore market for sales into China rose with fresh liquidity being reported in the week ended Tuesday August 3, following strong recent gains in the downstream alloy market.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settled at $182 per tonne on August 3, up by 4.6% from $174 per tonne one week earlier."With the profit available from ferro-chrome prod...Read More
Turkish steel producers continued to book deep-sea scrap cargoes for September shipments at stable prices on Wednesday August 4, market participants told Fastmarkets.A steel mill in the Izmir region booked a United States cargo comprising 15,000 tonnes of heavy melting scrap 1&2 (80:20) at $464 per tonne, and 14,000 tonnes of shredded and 2,000 tonnes of plate and structural (P&S) at $479 per tonn...Read More
The chrome ore market for sales into China rose with fresh liquidity being reported in the week ended Tuesday August 3, following strong recent gains in the downstream alloy market.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settled at $182 per tonne on August 3, up by 4.6% from $174 per tonne one week earlier."With the profit available from ferro-chrome prod...Read More
Benjamin Baptista will retire and leave his role as chief executive officer of ArcelorMittal's Brazilian unit on September 30 after 12 years, with current Latin America long steel CEO, Jefferson De Paula, to replace his role, Baptista said on Tuesday August 3.Baptista joined ArcelorMittal in 1983, when it was still called Companhia Sider??rgica de Tubar??o (CST). It was later bought by Arcelor, to...Read More
A summary of the financial results for US-based aluminium producer Novelis in April-June 2021, the first quarter of its business year, released on Wednesday August 4.In brief Novelis' adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter were $555 million, up by 119% year-on-year. Net income attributable to its common shareholders was $240 million, up fro...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
Brazil-based steelmaker Gerdau is investing in new flat-rolled and long steel rolling capacity at its Ouro Branco integrated mill in the country's southeastern state of Minas Gerais, chief executive officer Gustavo Werneck told journalists in a conference call on Wednesday August 4.The company will increase its capacity for hot-rolled coil (HRC) by 250,000 tonnes per year, to 1.1 million tpy, and...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda...Read More
Latin American steel group Ternium expects prices to remain steady in North America, despite the increase in capacity coming into the market.New projects coming onstream are expected to add around 5-6 million tonnes of flat steel capacity in the region, according to the company's estimates. But such an increase is not expected to bring prices down. "I don't see this as a driver of huge oversupply,...Read More
A rebound in Chinese ferrous futures prices on Wednesday August 4 has led to increased interest in booking seaborne steel billet cargoes in China, sources told Fastmarkets.Sharp drops in ferrous futures on both Monday and Tuesday sapped sentiment from the Chinese market, with buyer indications heard as low as $660 per tonne cfr China for 3sp billet on Tuesday.This was down sharply from the la...Read More
London Metal Exchange prices were under pressure for the second day in a row at the close on Wednesday August 4, in a trading session which had the lowest volumes since mid-July for many metals.Nickel's three-month price was down to $19,243 per tonne - a fall of $145, or 0.7% - from Tuesday's closing price. Its volumes, at 6,450 lots traded by 5pm, were at their lowest since July 21. The news...Read More
Key data from the Wednesday August 4 pricing session in London.Key drivers Spot international cobalt prices widened downward on cheap offers from sellers willing to take profits in a quiet market, amid seasonally slow trading. Some sellers insisted on...Read More
Novolipetsk Steel (NLMK), Russia's largest steelmaker, will increase output of hot-dip galvanized (HDG) coil by starting up a new line at its Lipetsk site in the second half of 2022.Capacity of the new line is 450,000 tonnes per year. Once the line is commissioned, NLMK's HDG capacity will increase by 36% to 1.7 million tpy.Read More
Steelmakers in China are preparing to join the country's national carbon trading market by measuring their emission levels to secure carbon quotas that match their output.The China Iron & Steel Association has instructed member mills to submit their production and carbon emission details to it by August 14 to study the quota for every mill. The steel sector is among the next slew of major industri...Read More
Chinese downstream fabricators actively bid for discounted zinc during the second round of state auctions, with the 50,000 tonnes of zinc almost sold out on Thursday on July 30, sources said.The discount stands at around 1,500 yuan - including shipment fee calculation - and has considerably catalyzed the sell-off, sources added. Winning bids from zinc fabricators ranged from 19,000-21,000 yua...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Traders are waiting for June trade reports to be released at 8:30 AM EDT. Consensus calls for U.S. trade deficit of $73.9 billion and a Canadian trade deficit of $800 million.Booking added $69.36 to $2,155.00 after reporting higher than consensus second quarter revenues. Etsy plunged $23.1...Read More