The closure of Thyssenkrupps's heavy plate unit is very likely considering the company has received zero interest during the bidding process for its sale, the company said on November 19. German industrial group Thyssenkrupp is going through a restructuring and in May this year, it said it was examining whether to sell or close its heavy steel plate production sites.In its annual report for the fi...Read More
Long-term ferro-vanadium contracts for 2021 are being signed at an average of 5-7% discounts while negotiations continue in November, market sources told Fastmarkets.Long-term contracts for ferro-vanadium in Europe are usually settled against Fastmarkets' European benchmark price assessment with the parties agreeing a discount to the published price to take prevailing market fundamentals into acco...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.The Canadian Dollar added 0.04 to US76.62 cents following release of Canada's September Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.4% in August. Actual was an increase of 1.1%Workday added $10.20 to $241.00 after reporting higher than consensus quart...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 18.Please click...Read More
Shanghai nickel premiums fell in the week to Tuesday November 17 while rates on briquette in the United States again succumbed to pressure from intense competition for business in the spot market.Chinese premiums fall as arbitrage losses worsenDeclining spot offers push US briquette premium lowerEuropean buyers see ample supply; ride out LME volatilityShanghai full-plate premiums fall, their first...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
Fastmarkets has identified a necessary clarification to the magnesium oxide specification for its UG2 chrome ore index.Fastmarkets has updated the magnesium oxide (MgO) specifications of its weekly price index for UG2 chrome ore to match the quality listed in the index's pricing notice.The MgO previously, and erroneously, was listed in the specifications at MgO max 0.15% although the correct quali...Read More
Commodities trader and producer Glencore is starting production from the Mokala manganese ore mine in South Africa, an industry source has informed Fastmarkets.The mine will produce semi-carbonate 37% manganese ore, and was expected to ramp-up production to its full capacity of 1.5 million tonnes per year around the start of...Read More
The price paid for a lower grade of high-carbon ferro-chrome in Europe fell in the week to November 17 amid weak demand while the higher grade market was stable with some producers preferring not to be active, sources said.Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe price assessment fell by 1 cent or 1.3% to $0.75-0.82 per lb Cr on Tuesday November 17.T...Read More
An overview of the consumer electronics markets and their latest price moves.Fastmarkets has reworked the market reports...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
Turkish steel mills have remained out of the market for a third consecutive day this week although offer prices have now moved higher than in previous deals, sources told Fastmarkets on Wednesday November 18.Turkish steel mills extended their silence in the deep sea scrap market for a third day, but offer prices were reported to have jumped in anticipation of the next purchases....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers The ferro-titanium spot price in Europe increased, marking 13 weeks of persistent increases in line with scrap tightness and renewed demand from consumers in the steel sector.Suppliers reported deals done, or heard, for more than 500 tonnes of standard-grade ferro-titanium for prompt shipment, with a couple o...Read More
Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More
The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.Asian Pacific equities were mixed this morning, as were major western equity indices on Tuesday......but major western equity indices are weaker this morning, suggesting some concern about the...Read More
Argentina is in a strong position to exploit its potential in the expanding lithium industry, due to the amount of lithium available, the easy access to those resources, and the support of local authorities.The opinion came from Gilberto Antoniazzi, chief financial officer of Livent Corp, during a panel discussion for the Lithium in South America conference held online on Wednesday November 18.But...Read More
Japan's Panasonic has teamed up with Norwegian aluminium producer Norsk Hydro and Norway's state-owned oil major Equinor to look into developing a sustainable battery business in Norway.The three organizations have signed a Memorandum of Understanding (MoU) to carry out a feasibility study, the companies said in a joint statement on Wednesday November 18. According to the agreement, the companies...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
Domestic prices for hot-rolled coil in Europe increased again in the week to Wednesday November 18, due to tight supplies, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?537.92 ($638.24) per tonne on Wednesday, up by ?,?8.34 per tonne from ?,?529.58 per tonne on Tuesday.The index was also up by ?,?13.42 per tonne week on...Read More