London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...Read More
Here are five Fastmarkets stories on Tuesday June 15 that are worth another look.With responsibilities across Tata Steel's diverse international portfolio of steelmaking assets, chief executive officer and managing director T V Narendran has a wide-ranging view of, and experience in, the global steel industry. He told Kunal...Read More
Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...Read More
Keen selling was seen across the London Metal Exchange and throughout the day on Tuesday June 15, which took the price of copper to its lowest level since late April this year.Copper's three-month closing price was $9,569 per tonne, showing a 4% decrease from Monday's closing price of $9,971.50 per tonne.Its intraday low of $9,511 per tonne was the lowest price for copper since April 23, while the...Read More
Some steel rebar and billet prices in the United Arab Emirates decreased during the week ended Tuesday June 15, although demand was better because of low stock levels, sources have told Fastmarkets.Local rebar producers kept their prices unchanged during the week, but gave some discounts.Domestic rebarThe country's biggest producer, Emirates Steel, was offering rebar at 3,067 dirhams ($835) per to...Read More
Aluminium premiums moved in different directions on Tuesday June 15, with Rotterdam premiums resuming their uptrend, the Japanese premium ticking downward from its multi-year high, and premiums in the US and Brazil steady.Rotterdam duty-unpaid ticks up againMJP premium declines on cheaper dealsUS Midwest premium steady for two weeksBrazil premium flat on thin liquidity.European premiums strong des...Read More
Here are five Fastmarkets stories on Tuesday June 15 that are worth another look.With responsibilities across Tata Steel's diverse international portfolio of steelmaking assets, chief executive officer and managing director T V Narendran has a wide-ranging view of, and experience in, the global steel industry. He told Kunal...Read More
Here are five Fastmarkets stories on Tuesday June 15 that are worth another look.With responsibilities across Tata Steel's diverse international portfolio of steelmaking assets, chief executive officer and managing director T V Narendran has a wide-ranging view of, and experience in, the global steel industry. He told Kunal...Read More
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...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
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Investors are waiting for an update on the Fed Fund Rate from the Federal Reserve at 2:00 PM EDT. Consensus calls for no change in the Fed Fund rate at 0.00%-0.25%.U.S. equity index futures were virtually unchanged following release of the May Housing Start report at 8:30 AM EDT. Consensus w...Read More
Here are five Fastmarkets stories on Tuesday June 15 that are worth another look.With responsibilities across Tata Steel's diverse international portfolio of steelmaking assets, chief executive officer and managing director T V Narendran has a wide-ranging view of, and experience in, the global steel industry. He told Kunal...Read More
The debut of Zijin Mining 's new Serbian copper mine has been postponed to the fourth quarter of 2021, local media See News reported on Tuesday June 15. Citing a statement from Serbia's mining ministry on Monday June 14, the mine in the Cukaru Peki Upper Zone of Serbia's Timok copper-gold project has received approval to construct the mining facilities and execute mining operations, the...Read More
Brazilian miner Vale has produced the first ore at its Voisey's Bay nickel operation expansion in Canada - exploring underground reserves - after 16 years of open-pit mining, the company said on Tuesday June 15.Located in the Canadian northern Labrador region, the underground operation has a capacity of 40,000 tonnes per year of nickel concentrate and will first explore the Reid Brook ore deposit,...Read More
Russian aluminium producer Rusal is to invest in the expansion and upgrading of its aluminium operations using capital raised through Nornickel's proposed share buyback scheme, the company said on Tuesday June 15. Rusal currently holds a 27.8% ownership in Nornickel, the Russian based high-grade nickel and palladium mining company. The exact amount of shares that will be repurchased by Nornickel h...Read More
Striking workers at Vale's mine in Sudbury, Ontario, rejected the company's latest offer on Monday June 14; the ongoing strike was the main contributor to a rise in nickel premiums in the United States on Tuesday June 15, sources said.The premium increases - including a 16.67% week-on-week jump for nickel briquette - came quicker than most participants anticipated, with the strike at Vale entering...Read More
Keen selling was seen across the London Metal Exchange and throughout the day on Tuesday June 15, which took the price of copper to its lowest level since late April this year.Copper's three-month closing price was $9,569 per tonne, showing a 4% decrease from Monday's closing price of $9,971.50 per tonne.Its intraday low of $9,511 per tonne was the lowest price for copper since April 23, while the...Read More
Some steel rebar and billet prices in the United Arab Emirates decreased during the week ended Tuesday June 15, although demand was better because of low stock levels, sources have told Fastmarkets.Local rebar producers kept their prices unchanged during the week, but gave some discounts.Domestic rebarThe country's biggest producer, Emirates Steel, was offering rebar at 3,067 dirhams ($835) per to...Read More