Turkish flat steel producers need to avoid sudden price changes if they want to keep their share of the domestic and export markets, sources told Fastmarkets on Wednesday November 10."The producers increase their prices sharply when demand improves in any region, but such increases are not accepted by buyers," an executive with a Turkish steel producer said. "Then producers start giving discounts,...Read More
An overview of the consumer electronics markets and their latest price moves on Wednesday November 10.Ruby Liu in...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
A summary of London Metal Exchange warrant premiums for the week to Wednesday November 10.Please click...Read More
Prices for low-carbon ferro-chrome continued to rise strongly in the week to Wednesday November 10, with the market still undersupplied and prices reaching a new record high since collapsing in November 2008.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, was $3.80-4.09 per lb Cr on November 9, up by 34-37 cents from $3.43-3.75 per lb Cr two weeks earli...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Chinese lithium-ion battery cathode materials producer Beijing Easpring Material Technology has entered into an agreement to set up a plant for cathode active materials (CAM) with Finnish mining and battery projects investor Finnish Minerals Group.Under the agreement, a joint venture will be set up to construct and operate the CAM plant, with the Beijing Easpring controlling a 70% share while its...Read More
Trading activity was still limited in the European hot-rolled coil sector on Wednesday November 10, with buyers pausing their purchasing activity to assess the market, sources told Fastmarkets.Producers, meanwhile, have been insisting on increasing their prices for first-quarter-rolling coil in 2022, claiming that the rises were necessary due to higher costs for energy, transportation and carbon.S...Read More
Turkish steel mills resumed their deep-sea scrap imports on Wednesday November 10, with prices showing a slight downturn, market participants told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 20,000 tonnes of heavy melting scrap 1&2 (80:20) at $497 per tonne and 10,000 tonnes of bonus at $517 per tonne cfr.The same mill booked a second Baltic Sea cargo consis...Read More
Scrap export activity on the US East Coast has been muted, with exporters there roundly rejecting Turkish mills' lower offers for ferrous scrap given exceptionally tight supply in the wake of November's frenetic domestic trade.One East Coast exporter dismissed a bid of $498 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap out of hand at the start of the week, a Turkish trader told...Read More
Copper and aluminium prices edged higher in morning trading on the London Metal Exchange on Wednesday November 10, but struggled to gain momentum.Aluminium rose by $31 to $2,587.50 per tonne, after falling 1.9% at Tuesday's close.Trading volumes of the light metal continue to be the highest of the complex, but just over 4,000 lots had traded by 9:30am London time.The aluminium price has been incre...Read More
Seaborne coking coal cfr prices continued to slide on Wednesday November 10, with Chinese domestic coking coal and coke prices also trending lower.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $530.15 per tonne, down $32.47 per tonneHard coking coal, cfr Jingtang: $474.72 per tonne, down $30.30 per tonnePremium hard coking coal, fob DBCT: $401.48 per tonne, down $1.67 per tonneHard co...Read More
Exporters of steel scrap from Japan are finding it increasingly difficult to find buyers for their material at acceptable prices, sources told Fastmarkets on Wednesday November 10.Wednesday saw another price decrease at major buyer Tokyo Steel, which will drop its buy prices by ?500 ($4) per tonne across all grades and all works with effect from November 11. This will be the third decrease so far...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
A lack of supportive factors in the global market has resulted in lower interest in Commonwealth of Independent States-origin export billet from the customer side, eventually influencing bids.One of the most negative factors was a sharp drop in the Chinese long-steel market due to the bearish sentiment caused by many days of weak demand, market sources said.The assessment for steel...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
The People's Bank of China (PBOC) will offer cheaper funding to financial institutions which provide green loans, according to a statement released by the Chinese central bank on Monday November 8.The central bank will lend money to financial institutions to help them support firms which are working toward China's energy transition goals, the statement read.Financial institutions can borrow from P...Read More
Prices for low-carbon ferro-chrome continued to rise strongly in the week to Wednesday November 10, with the market still undersupplied and prices reaching a new record high since collapsing in November 2008.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, was $3.80-4.09 per lb Cr on November 9, up by 34-37 cents from $3.43-3.75 per lb Cr two weeks earli...Read More
Base metal prices on the London Metal Exchange were mixed, although largely unchanged by the 5pm close on Wednesday November 10."After such a massive bout of risk reduction, prices were always likely to enter a choppy phase," Alastair Munro, LME desk analyst at Marex said."Enough uncertainty remains to make any view tough to hold. Largely speaking, we still see a largely positive micro picture, al...Read More