Base metals prices closed lower on the London Metal Exchange on Monday November 15, extending a downward consolidation amid an uncertain macroeconomic picture and a strong United States dollar index.Nickel's three-month price registered the largest fall on Monday, with a drop of $19 per tonne from $19,979 per tonne at the close on Friday. The metal traded as high as $20,030 per tonne - its highest...Read More
Base metals prices closed lower on the London Metal Exchange on Monday November 15, extending a downward consolidation amid an uncertain macroeconomic picture and a strong United States dollar index.Nickel's three-month price registered the largest fall on Monday, with a drop of $19 per tonne from $19,979 per tonne at the close on Friday. The metal traded as high as $20,030 per tonne - its highest...Read More
Ball Beverage Packaging South America (BPSA), the South American branch of international packaging company Ball Corp, achieved dual Aluminium Stewardship Initiative (ASI) certifications for its 15 manufacturing facilities across South America, it announced on Monday November 15.BPSA has been successfully certified with both ASI Performance and Chain of Custody (CoC) standards for responsible produ...Read More
Seaborne iron ore prices slipped slightly on Monday November 15 amid continuous weak demand from Chinese steel mills, which have begun formal production curbs for the winter heating season as of today, market sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $89.05 per tonne, down by $0.64 per tonne62% Fe low-alumina fines, cfr Qingdao: $90.26 per tonne, down by $1.13 per tonne5...Read More
Steel rebar and wire rod producers in the Commonwealth of Independent States reduced export offer prices in response to lower bids coming from foreign customers since the beginning of November.Wire rod offers from Ukraine's main long steel supplier - ArcelorMittal Kryvyi Rih - slid to $860-870 per tonne fob Black Sea from $900-910 per tonne fob earlier in November.Meanwhile, Russian material was a...Read More
The automotive industry's shift to electric vehicles (EVs) has put the sustainability efforts of its suppliers under scrutiny, Jean-Martin Van der Hoeven, chief marketing officer of ArcelorMittal's global automotive division, told Fastmarkets in an exclusive interview.One outcome of the so-called Dieselgate scandal - in which German automaker Volkswagen, among others, admitted to manipulating the...Read More
Revisions to the European Union's Waste Shipments Regulation (WSR) are intended to promote and encourage investment into the circular economy as well as to provide further protection to developing countries from the transfer of hazardous waste, executives from European Aluminium told Fastmarkets during an exclusive interview on last week.They said the regulations are not intended to ban the export...Read More
The Egyptian Ministry of Industry and Trade has suspended safeguard duties on imported billet and rebar, effective Monday November 15.The measure suspends import duties that had been in effect in the country since October 2019 to help local industry combat the significant rise in energy and shipping costs.There had been expectations that the duties would be removed in June this year, but the...Read More
Here are five Fastmarkets stories you might have missed on Monday November 15 that are worth another look.Ferro-alloy supply-side disruptions will likely continue well into 2022 with production cuts in China and capacity in other regions insufficient to meet demand amid persistent logistics constraints, panelists said on Sunday November 14 during...Read More
Prices for seaborne iron ore concentrate and pellets fell in the week ended Friday November 12, mainly due to decreasing steel mill margins, sources said.Fastmarkets iron ore indices 66% Fe concentrate, cfr Qingdao: $111.03 per tonne, down $6.70 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $164.14 per tonne, down $5.55 per tonne.Iron ore pellet premium over 65% Fe fines, cfr China: $52.30 p...Read More
Key data from the Friday November 12 pricing session in China.Key drivers China's cobalt metal price rose amid gains in the local futures market and a rally in the international benchmark cobalt metal price. Chinese cobalt tetroxide suppliers pushed up offers despite thin buying amid...Read More
This year's price rally in the European ferro-silicon market is showing increasing signs of weakness, with the market falling for the second consecutive week on Friday November 12, trade sources told Fastmarkets.Moreover, some traders and steelmakers said standard grade was being offered at well below ?,?4,000 ($4,577) per tonne for delivery in the first quarter amid persistently weaker prices in...Read More
The automotive industry's shift to electric vehicles (EVs) has put the sustainability efforts of its suppliers under scrutiny, Jean-Martin Van der Hoeven, chief marketing officer of ArcelorMittal's global automotive division, told Fastmarkets in an exclusive interview.One outcome of the so-called Dieselgate scandal - in which German automaker Volkswagen, among others, admitted to manipulating the...Read More
South Korea's copper smelter LS Nikko is diversifying its raw-materials portfolio by smelting circuit boards in mobile phones collected across the country, the company said on Monday November 15.The initiative is in collaboration with mobile phone distributor SK Networks to collect 50,000 used mobile phones via an artificial intelligence-based recyling platform, which could help manage and process...Read More
Spot prices for hot-rolled coil in China declined on Monday November 15, with market sentiment subdued by the release of bleak property data.Fastmarkets assessed the price of steel hot-rolled coil domestic, ex-whs Eastern China at 4,700-4,750 yuan ($737-744) per tonne on Monday, down by 60 yuan per tonne from Friday.The most-traded HRC contract on the Shanghai Futures Exchange extended losses...Read More
Turkey's domestic auto bundle scrap prices have increased due to a weakening lira, while ship scrap prices have been largely stable, market participants told Fastmarkets on Monday November 15.The Turkish lira weakened further against the United States' dollar after the Turkish central bank cut the benchmark interest rate by 2% to 16% late in October.The central bank was expected to cut the interes...Read More
Still weakened manganese alloy and steel markets have reversed the rally seen in manganese ore markets since early September, with prices for both low- and high-grade seaborne manganese ore falling over the week ending November 12.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.66 per dry metric tonne unit (dmtu) on Friday, down by $0.14 (-2.41%) from $5.80 per...Read More
The automotive industry's shift to electric vehicles (EVs) has put the sustainability efforts of its suppliers under scrutiny, Jean-Martin Van der Hoeven, chief marketing officer of ArcelorMittal's global automotive division, told Fastmarkets in an exclusive interview.One outcome of the so-called Dieselgate scandal - in which German automaker Volkswagen, among others, admitted to manipulating the...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
Key data from Fastmarkets' pricing session in China on Friday November 12.Key drivers Following a weeks-long decline in the Chinese silicon price that brought it close to production costs, producers refused to lower their offers further. Many...Read More