Slovak ferro-alloys producer OFZ Slovakia has cut more than half of its ferro-alloy production with immediate effect due to energy prices that have surged more than six-fold recently, an industry source told Fastmarkets.The company, which produces ferro-silicon and manganese alloys, has shut four out of its seven operating furnaces, including two ferro-silicon furnaces, a silico-manganese furnace...Read More
Local reinforcing bar and imported billet prices in Egypt were stable in the week to Thursday October 7, while demand from the private sector was still weak, sources told Fastmarkets."Government funded projects continue, but private sector demand remains slow," one trader told Fastmarkets.Some market participants expect prices to decrease due to weak demand, except for government projects, while s...Read More
Southern Europe's domestic prices for steel wire rod slid further, pressured by weak demand, although the downward trend is expected to stop due to increased production costs, Fastmarkets heard on Wednesday October 6.Fastmarkets' weekly price assessment for steel wire rod (mesh quality) domestic, delivered southern Europe was at ?,?750-780 ($867-902) per tonne on Wednesday, down by ?,?10-20 per to...Read More
Brazil-based multi-metal producer Nexa Resources has resumed activity at its San Gerardo zinc-lead open-pit mine in central Peru after a week-long stoppage caused by community blockades, the company said on Wednesday October 6.In a filing to the Peruvian securities and exchange commission, SMV, Nexa said operations began to reopen early in the week and by Wednesday had returned to full capacity.Ro...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
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
Transactions for hot-rolled coil in Europe remained limited on Wednesday October 6, with buyers and sellers preferring to avoid transactions until the price trend becomes clearer, sources told Fastmarkets.Most European buyers have sufficient flat steel stocks to last until the end of the year. Buyers will have to return to the market in November at the latest because they will need to plan for the...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
Trading activity in the European hot-rolled coil market remained limited on Thursday October 7, but buyers are expected to resume purchasing activity later this month, sources told Fastmarkets.Although most European buyers have sufficient flat-steel stocks to last until the end of the year, they will need to negotiate deals for first-quarter delivery coil no later than November, market participant...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.It has a five-year target to install more than 100 megawatts of power to cover 20% of the group's energy requirements in its production sites in Italy.The investment will reduce its CO2 emissions by approximately 85,000 tonnes a year on completion of.....Read More
U.S. equity index futures were higher this morning. S&P 500 index futures were up 11 points in pre-opening trade.Index futures were virtually unchanged following release of the September Employment Report at 8:30 AM EDT. Consensus for September Non-farm Payrolls was an increase of 460,000. Actual was an increase of 194,000. Consensus for the September Unemployment Rate was a slip to 5.1% from...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,...Read More
Fastmarkets analysts Andrew Cole and Andy Farida and reporter Thorsten Schier size up the nickel market ahead of LME Week, which begins Monday October 11.Nickel prices have been capped by the $20,000-per-tonne level this year, failing to sustain a meaningful break higher despite attempts in February and again repeatedly during July-September. The London Metal Exchange three-month price peaked at $...Read More
Rising freight costs and increased buying interest from neighboring Asian markets led to an increase in Bangladesh import steel scrap prices in recent days, sources said on Thursday October 7.Bangladesh container import prices jumpSouth Korea purchases deep-sea scrap amid high Japanese pricesTaiwan buyers quiet after early-week buyingBangladeshContainerized imports of scrap were sold to Bangladesh...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
German independent metals distribution company Kl??ckner & Co is to team up with Swedish start-up H2 Green Steel to become one of the first distributors of near-zero carbon emissions "green steel."Announcing the partnership on Thursday October 7, Kl??ckner & Co said that it would be supplied annual quantities of up to 250,000 tonnes of green steel from 2025 onwards, which would represent a su...Read More
Seaborne coking coal prices in the fob market on Thursday October 7 were largely flat amid limited trading activity in the market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, unchangedHard coking coal, cfr Jingtang: $565.14 per tonne, unchangedPremium hard coking coal, fob DBCT: $404.05 per tonne, down by $0.48 per tonne ...Read More
Rising freight costs and increased buying interest from neighboring Asian markets led to an increase in Bangladesh import steel scrap prices in recent days, sources said on Thursday October 7.Bangladesh container import prices jumpSouth Korea purchases deep-sea scrap amid high Japanese pricesTaiwan buyers quiet after early-week buyingBangladeshContainerized imports of scrap were sold to Bangladesh...Read More
British Steel has announced a low-carbon steel making roadmap which outlines how it will achieve its net-zero emissions target, the company announced on Thursday September 7. The company has pledged to invest in a range of technologies to deliver net-zero steel by 2050 and significantly reduce its CO2 intensity by 2030 and 2035, in line with UK commitments to the Paris Agreement.Earlier this...Read More