Hot-rolled coil spot prices in China retreated to eight-month lows on Thursday November 4 as part of a broad-based decline led by coal.DomesticEastern China (Shanghai): 4,980-5,000 yuan ($779-782) per tonne, down by 70-100 yuan per tonneSpot HRC prices in China's eastern market fell to their lowest since March 18, wiping out all of Wednesday's gains.Traders reported that the price decline has redu...Read More
The price of manganese flake has reached all-time highs in China and Europe, with most producers remaining bullish on the medium-and long-term outlook due to supply tightness. However, risk aversion continues in Europe; some cheaper offers are casting doubts about the immediate price direction of the metal, Fastmarkets heard.The manganese flake price has been on the rise in China since May, peakin...Read More
The price of manganese flake has reached all-time highs in China and Europe, with most producers remaining bullish on the medium-and long-term outlook due to supply tightness. However, risk aversion continues in Europe; some cheaper offers are casting doubts about the immediate price direction of the metal, Fastmarkets heard.The manganese flake price has been on the rise in China since May, peakin...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Index futures moved higher following release of the U.S. October Employment Report at 8:30 AM EDT. Consensus for October Non-farm Payrolls was an increase of 450,000 versus an upwardly revised a gain of 312,000 in September. Actual was an increase of 531,000. Consensus for the October Un...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
Elysis, a joint-venture project between Alcoa and Rio Tinto to eliminate the emission of greenhouse gases from the industrial aluminium smelting process, has moved to the next stage of production, the companies jointly announced on Thursday November 4.Elysis is led by Alcoa and Rio Tinto, with additional investment from the governments of Canada and Quebec.It is working to commercialize a new tech...Read More
A summary of operational results for Ukrainian steelmaker Metinvest for the third quarter of 2021.In brief The group's output of coke totaled 1.09 million tonnes, down by 9% quarter on quarter due to a decrease in the number of coke ovens in use at Ukraine's Avdiivka Coke and a shortage of raw materials. Merchant slab production increased by 15% quarter on quarter...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.Fastmarkets assessed...Read More
Mexican steel producer Deacero has opened an office in Washington to be closer to trade decisions affecting its business. It is a first for a Mexican company, according to a Thursday November 4 statement."This is where decisions are made that affect our company, its workers, and its customers - not only in the US, but also in Mexico, and in other international markets where we do...Read More
The steel rebar and billet market in Egypt was slow during the week ending Thursday November 4, although some market participants expected rebar prices to increase because of increasing natural gas costs, sources told Fastmarkets.Local rebar producers increased their prices E ?15,000 ($952) per tonne ex-works including 14% VAT on October 20.However, the natural gas price increased to $5....Read More
Hot-rolled coil spot prices in China retreated to eight-month lows on Thursday November 4 as part of a broad-based decline led by coal.DomesticEastern China (Shanghai): 4,980-5,000 yuan ($779-782) per tonne, down by 70-100 yuan per tonneSpot HRC prices in China's eastern market fell to their lowest since March 18, wiping out all of Wednesday's gains.Traders reported that the price decline has redu...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
A summary of Finland-based stainless steel producer Outokumpu's results for the third quarter of 2021.In brief Sales increased significantly year on year due to higher deliveries and stainless steel prices as the market recovers from Covid-19. Stainless steel deliveries increased by 18% from the third quarter of 2020, which was heavily affected by the pandemic, but declined by 8% compared with the...Read More
Domestic rebar prices in China stopped falling on Thursday November 4, reflecting tighter supply from steel mills and on the spot market.East China (Shanghai): 4,950-4,980 yuan ($774-778) per tonne, unchangedOver the week to Thursday, rebar output totaled 2.88 million tonnes, a decrease of 21,600 tonnes from the previous week. According to a local industry information...Read More
International spot cobalt prices have continued their trend upward over the past week, fueled by bullish sentiment in long-term contract negotiations due to next year's improved demand outlook, sources said.Spot units remain in tight hands, with sellers offering aggressively, while some spot buying appetite has returned among consumers in the United States and the European markets following the co...Read More
The steel rebar and billet market in Egypt was slow during the week ending Thursday November 4, although some market participants expected rebar prices to increase because of increasing natural gas costs, sources told Fastmarkets.Local rebar producers increased their prices E ?15,000 ($952) per tonne ex-works including 14% VAT on October 20.However, the natural gas price increased to $5....Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Base metals prices on the London Metal Exchange were mixed on the morning of Friday November 5, but for the most part they were on a back foot and looking vulnerable.At the same time, base metals prices on the Shanghai Futures Exchange were mainly weaker while they tracked the weakness on the LME on Thursday, and because weaker coal prices in China are less likely to cause metal producers to cut p...Read More