Duncan Wanbladwill take over as Anglo American's chief executive officer when current incumbent Mark Cutifani retires and steps down at the company's annual general meeting on April 19, 2022.Wanblad will also become an executive director of the board at the diversified mining giant. Cutifani, who has been CEO for nine years, will be involved in a transition period, which is expected...Read More
Steel prices in the United States are poised to continue decreasing at a slow pace in the coming months, Luxembourg-based steelmaker Ternium said on Wednesday November 3.Supply and demand fundamentals have started to normalize in the country, but remain far from balance, according to Ternium chief executive officer M??ximo Vedoya.Among the drivers for lower prices, the CEO cited capacity usage in...Read More
The price of steel H-beams in Europe was largely unchanged on Wednesday November 3, with mills hoping for better demand during the month, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,010-1,030 ($1,171-1,194) per tonne on Wednesday, unchanged since October 20.One distributor said that the only demand was to meet ur...Read More
Iron ore prices went up on Wednesday November 3 with support from the demand in low-grade fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $100.10 per tonne, up by $4.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $101.70 per tonne, up by $5.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.15 per tonne, up by $8.45 per tonne65% Fe Brazil-origin...Read More
The north China steel production hub of Handan city in Hebei province has implemented stricter production cuts at steel mills from Monday November 1 to November 7.The move has been made is to mitigate weather-influenced air pollution over the period and comes just after the city finished implmenting steel production curbs in September and October to limit the crude steel output in line with China'...Read More
Europe's domestic prices for heavy plate rose sharply in the week to Wednesday November 3 due to strong demand and surging production costs, sources told Fastmarkets.Energy prices have increased substantially across Europe, adding pressure on steel prices. A number of producers that have long-term agreements for electricity will have to renegotiate new contracts starting in January 2022, sources s...Read More
Prices in the market for steel billet exports from the Commonwealth of Independent States region reduced on Wednesday November 3 due to cautious buyers, sources told to Fastmarkets.Fastmarkets' calculation of its daily steel billet index, export, fob Black Sea, CIS was $646 per tonne, down by $7 day on day."Scrap prices in Turkey [the...Read More
Iron ore prices went up on Wednesday November 3 with support from the demand in low-grade fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $100.10 per tonne, up by $4.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $101.70 per tonne, up by $5.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.15 per tonne, up by $8.45 per tonne65% Fe Brazil-origin...Read More
The mood in the European hot-rolled coil market was upbeat on Wednesday November 3 despite limited trading activity, sources told Fastmarkets.Bullish sentiment was supported by a recovery in domestic demand caused by restocking activity. Further support came from news of an agreement between the United States and the EU to replace Section 232 tariffs on steel and aluminium, imposed on the bloc's 2...Read More
Duncan Wanbladwill take over as Anglo American's chief executive officer when current incumbent Mark Cutifani retires and steps down at the company's annual general meeting on April 19, 2022.Wanblad will also become an executive director of the board at the diversified mining giant. Cutifani, who has been CEO for nine years, will be involved in a transition period, which is expected...Read More
Chilean copper production decreased by 6.75% in September, compared to the same month in 2020, with all major mines in the country reporting lower figures, copper commission Cochilco said on Wednesday November 3.In September, some Chilean producers like Codelco faced workers' strikes, while a few also had drought issues and reported lower content in mined ore. These caused lower output during the...Read More
Zinc's three-month price on the London Metal Exchange on Wednesday November 3 touched its lowest since October 13, with prices in the base metals complex ending the day on a mixed note ahead of the US Federal Reserve Bank's Federal Open Market Committee press conference.Zinc reached $3,263 per tonne on Wednesday, its lowest price since announcements by Nyrstar and Glencore that production in Europ...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.Market sources hav...Read More
Prices for Japanese bulk shredded scrap have tumbled over the last week amid a drop in intake from a major Japanese blast furnace (BF)-based mill and discounted sales to South Korea.In late September, sources told Fastmarkets that shredded demand at BF-based mills had benefitted greatly from the tight supply of Shindachi prime scrap, but a reduction in shredded purchase volumes in recent weeks has...Read More
Steel rebar prices widened upward in Northern Europe in the week ended November 3 despite limited trading, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?800-840 ($928-951) per tonne on November 3, widening up by ?,?20 per tonne from ?,?800-820 per tonne seven days earlier.Buyers in the region were la...Read More
Prices for Japanese bulk shredded scrap have tumbled over the last week amid a drop in intake from a major Japanese blast furnace (BF)-based mill and discounted sales to South Korea.In late September, sources told Fastmarkets that shredded demand at BF-based mills had benefitted greatly from the tight supply of Shindachi prime scrap, but a reduction in shredded purchase volumes in recent weeks has...Read More
Turkish steel producers have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Wednesday November 3.A steel mill in the Marmara region booked a Baltic Sea cargo of HMS 1&2 (80:20) at $490 per tonne cfr - although the volume was not clear at the time of...Read More
COP26, the United Nations climate conference taking place in Glasgow, Scotland, October 31-November 12, has provided a platform for leading aluminium producer Rusal to discuss the growth and importance of low-carbon aluminium in the global efforts toward decarbonization.The company announced on Wednesday November 3 it will be taking part at the conference in multiple panel discussions organized by...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.Market sources hav...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.Market sources hav...Read More