US-based carmaker Ford is to open a new center to develop, test and build vehicle battery cells and cell arrays at Romulus, in the US state of Michigan, accelerating the company's research and development into future battery manufacturing, the company has said.The new center will be called Ford Ion Park and will be part of the company's renewed commitment to making Michigan a center for its focus...Read More
Nickel producers are putting an increased focus on sustainability credentials in a bid to lock in consumer demand from the automotive industry, sources told Fastmarkets.Increased scrutiny from end consumers and government policy on lower carbon emissions throughout the supply chains have nickel producers looking to highlight sustainability to secure long-term deals. Most recently, internation...Read More
More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.Global energy-related emissions must drop to 30% below 2019 levels by 2030, and to 75% below by 2040, to be on tr...Read More
Teck Resources has updated its zinc concentrates production guidance for 2021, following "a strong second quarter operating performance" in its zinc business unit, the Canadian miner said in its second quarter results. At CAD 1.956 billion ($1.555 billion), net profits were up by 79% in the first half of the year.At a glance copper: Overall copper production was up by 10.8% in the first half...Read More
Hot-rolled coil prices in the United States perked up above $91 per hundredweight ($1,800 per short ton) for the first time in three business days, with mills successfully collecting higher selling prices after boosting offers earlier in July. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.25 per hundredweight ($1,825 per short ton) on Tuesday July 27, an increas...Read More
The biggest steel producer of the United Arab Emirates, Emirates Steel, decreased its rebar price to 2,957 dirhams ($805) per tonne ex-works for orders to be produced in August, effective Tuesday, July 27.The company's previous rebar price, in effect from Sunday June 27, was 3,012 dirhams per tonne ex-works. UAE demand for steel rebar and billet was low during the week to July 27 because buyers w...Read More
Domestic prices for hot-rolled coil in Europe declined day on day on Tuesday July 27 due to a combination of weak demand and competitive import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,146.46 ($1,351.87) per tonne on Tuesday July 27, down by ?,?8.90 per tonne from ?,?1,155.36 per tonne on July 26.The i...Read More
Flat steel import buyers in the United Arab Emirates and Saudi Arabia preferred to wait before placing new orders during the week ending Tuesday, July 27 because the Eid al-Adha holiday has very recently finished, sources told Fastmarkets.Slow buying has also been encouraged by fluctuating prices for most products, sources added, and HRC prices from China have been falling recently.Fastmarkets' ca...Read More
The export market for flat steel rolled products from the Commonwealth of Independent States was slow during the week to Monday July 26, due to the holiday period in the major outlets of Turkey, and the Middle East and North Africa region.Fastmarkets' weekly price assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $915-930 per tonne on Monday, down $5-10 from $920-940 per tonne a...Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
Import prices for HRS101-grade ferrous scrap into China were unchanged on Tuesday July 27 but steel production cuts dampened spot demand for the material, sources told Fastmarkets."The restrictions on crude steel production have reduced our demand for scrap to a minimum recently," a Chinese mill source based in Hebei province told Fastmarkets. "We will reduce our production rate starting next mont...Read More
Seaborne coking coal prices stayed large stable in both the cfr and fob markets on Tuesday July 27, with market participants in the later market waited for a sale tender result from a Europe steel mill, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.30 per tonne, down $0.33 per tonnePremium hard coking coal, cfr Jingtang: $315.76 per tonne, up $0.69 per tonne ...Read More
China imported 76,336 tonnes of ferrous scrap in June, a 31% drop from May, according to the latest Chinese customs data.Of the total, 61,085 tonnes - or 80% - originated in Japan. South Korea remained China's second-largest scrap supplier in June, accounting for 9,713 tonnes (12.7%) of imports. Hong Kong (2,252 tonnes; 2.95%) and the United Kingdom (1,668 tonnes; 2.19%) were other significant sou...Read More
Prices of hot-rolled coil in China's domestic market edged lower on Tuesday July 27 and futures prices fell due to Covid-19 concerns and stock price tumbles weighing on market sentiment, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,880-5,900 yuan ($907-910) per tonne, down by 10-20 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange slipped after hitting an...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
Nickel's three-month price on the London Metal Exchange fell the most on the morning of Tuesday July 27, while most futures contracts had a bump during early trading but had all fallen by 9am. The stainless steel additive was down by 2% to $19,310 per tonne at 9am on Tuesday, from Monday's closing price of $19,717 per tonne. Earlier on Tuesday, the metal reached a five-month high of $19,795 per to...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.Chinese equities under pressure again today - market worried about regulatory interventionPre-market western equity index futures showing a weaker start againBase metalsLME three-month b...Read More
Australia-listed Jervois Mining has agreed to purchase the Freeport Cobalt refinery in Finland for $160 million from Koboltti Chemicals Holdings, it said on Tuesday July 27.The deal, Jervois said, could lead to the company growing into the world's second-largest producer of refined cobalt outside of China. Koboltti is a holding company owned by Freeport McMoRan and Lundin Mining. The...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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.Read More