The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....Read More
EN+ group IPJSC and SUAL Partners Limited, the two largest shareholders of aluminium producer UC Rusal, announced their joint support for de-mergering Rusal's high-carbon businesses.Rusal announced in May it intended to pursue a demerger of its higher-carbon assets via the creation of two different businesses with separate strategies.The announcement said the demerger is still awaiting further dec...Read More
Strengthening sentiment from limited supply sent the market for low-grade and high-grade manganese ore higher in the week to Friday October 29, despite weaker ore prices at ports and falling silico-manganese markets in China.Fastmarkets' manganese ore index 37% Mn, cif Tianjin was calculated at $4.83 per dry metric tonne unit (dmtu) on Friday, up 6 cents, or 1.3%, from $4.77 per dmtu a week earlie...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Exxon Mobil gained $0.90 to $36.27 after JP Morgan raised its price target from $65 to $77.Eastman Chemicals dropped $0.54 to $103.49 after JP Morgan downgraded the stock from Overweight to NeutralNewell Brands gained $0.71 to $23.60 after JP Morgan upgraded the stock from Neutral to Ove...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More
A summary of Glencore's 2021 third-quarter production report for the coal sector, released on Friday October 29.In briefThe company's coal production for the year to September 30 was 76.3 million tonnes, some 7.2 million tonnes (9%) lower than the comparable period in 2020, reflecting a full period with its Prodeco operations in Colombia under care and maintenance, the progressive recovery from th...Read More
Here are five Fastmarkets stories you might have missed on Friday October 29 that are worth another look.Apparent steel consumption in the European Union continued to grow in the first half of 2021, but demand has probably reached its peak and the recovery is now slowing, the...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More
A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More
A summary of Glencore's 2021 third-quarter production report for the coal sector, released on Friday October 29.In briefThe company's coal production for the year to September 30 was 76.3 million tonnes, some 7.2 million tonnes (9%) lower than the comparable period in 2020, reflecting a full period with its Prodeco operations in Colombia under care and maintenance, the progressive recovery from th...Read More