Turkey exported 615,575 tonnes of flat steel products in August 2021, according to the Turkish Statistical Institute (TUIK), up by 46.87% year on year from 419,139 tonnes in August 2020.Most of the orders shipped in August were booked in April, when demand was very strong in all global markets.In addition, these bookings were made before the European Commission set definitive anti-dumping duties o...Read More
Base metals prices on the London Metal Exchange were up across the board during trading on Monday October 4, pushed upward by ongoing power-rationing policies in China and surging energy costs affecting production in the physical market.Nickel was the only exception, with the three-month nickel price down by 0.3% on Monday to $17,924 per tonne from $17,971 per tonne at Friday's 5pm close. "Th...Read More
BHP has produced its first nickel sulfate crystals at its Nickel West Kwinana plant in Western Australia, the company said on Friday October 1.The company expects to produce 100,000 tonnes per year of nickel sulfate when fully operational, which is enough to create 700,000 electric vehicle (EV) batteries each year, it said.The plant's capacity is expandable to 200,000 tpy, according to previous re...Read More
Aluminium producer Alcoa aims to achieve net-zero greenhouse gas (GHG) emissions across its global operations by 2050, it said on Monday October 4.The goal is for both direct (scope 1) and indirect (scope 2) emissions. It aligns with existing targets of reducing emissions from aluminium smelting and alumina refining operations by 30% by 2025, and 50% by 2030 from 2015 baselines."We're proud of our...Read More
On September 24, 2019, Fastmarkets opened a consultation on the proposed discontinuation of the copper rod annual premium, cif Nhava Sheva.The price was discontinued on October, 25 2019, after the one-month consultation period ended on October 24.A notice to confirm the discontinuation was not issued, in error, but Fastmarkets wishes to clarify that it has not published the annual premium sin...Read More
Chilean copper production fell by 4.59% in August compared with the corresponding month in 2020 amid decreases in Codelco's and BHP's operations, the country's copper commission (Cochilco) said on Monday October 4.Copper output totaled 461,900 tonnes in Chile during August, down from 484,100 tonnes a year earlier. In the first eight months of 2021, production was 3.73 million tonnes, a 1.47% year-...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region remained firm over the week to Monday October 4; trading activity was limited.In the Black Sea basin, mills continued to offer material within the range of $670-680 per tonne fob, unchanged week on week,several sources said. Customers in the major outlets such as Europe and Turkey, however, mainly refrained from booking be...Read More
European non-ferrous metals industry association Eurometaux has warned the European Commission that surging power prices may cause metal producers to leave Europe and erode plans to cut carbon emissions."Rising electricity prices have already led to curtailments and could lead to further relocation of our sector outside Europe if not addressed," Eurometaux said in a letter co-signed by director ge...Read More
Iron ore prices were largely stable on Monday October 4, with limited liquidity during the Chinese National Day holiday, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.12 per tonne, up $1.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.75 per tonne, up $1.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.73 per tonne, up $2.67 per tonne65% Fe Brazil-o...Read More
Base metals prices on the London Metal Exchange were up across the board during trading on Monday October 4, pushed upward by ongoing power-rationing policies in China and surging energy costs affecting production in the physical market.Nickel was the only exception, with the three-month nickel price down by 0.3% on Monday to $17,924 per tonne from $17,971 per tonne at Friday's 5pm close. "Th...Read More
Iron ore prices were largely stable on Monday October 4, with limited liquidity during the Chinese National Day holiday, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.12 per tonne, up $1.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.75 per tonne, up $1.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.73 per tonne, up $2.67 per tonne65% Fe Brazil-o...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region remained firm over the week to Monday October 4; trading activity was limited.In the Black Sea basin, mills continued to offer material within the range of $670-680 per tonne fob, unchanged week on week,several sources said. Customers in the major outlets such as Europe and Turkey, however, mainly refrained from booking be...Read More
Supply disruptions, which have hit commodity markets in recent months, are among the "structural" factors that have prompted the recent 3.4% rise in euro zone inflation, the European Central Bank (ECB) vice president Luis de Guindos said on Monday October 4.In September, ECB estimated the annual inflation rate at 3.4% year on year, up from 3% in August.De Guindos said that some of the drivers of t...Read More
Aluminium producer Alcoa aims to achieve net-zero greenhouse gas (GHG) emissions across its global operations by 2050, it said on Monday October 4.The goal is for both direct (scope 1) and indirect (scope 2) emissions. It aligns with existing targets of reducing emissions from aluminium smelting and alumina refining operations by 30% by 2025, and 50% by 2030 from 2015 baselines."We're proud of our...Read More
European non-ferrous metals industry association Eurometaux has warned the European Commission that surging power prices may cause metal producers to leave Europe and erode plans to cut carbon emissions."Rising electricity prices have already led to curtailments and could lead to further relocation of our sector outside Europe if not addressed," Eurometaux said in a letter co-signed by director ge...Read More
Chilean copper production fell by 4.59% in August compared with the corresponding month in 2020 amid decreases in Codelco's and BHP's operations, the country's copper commission (Cochilco) said on Monday October 4.Copper output totaled 461,900 tonnes in Chile during August, down from 484,100 tonnes a year earlier. In the first eight months of 2021, production was 3.73 million tonnes, a 1.47% year-...Read More
Export rebar prices from the Commonwealth of Independent States (CIS) continued to decrease in the week to Monday October 4 after mills reduced offers again due to demand pressure and competition with Turkish suppliers.ArcelorMittal Kryvyi Rih (AMKR), Ukraine's main long steel supplier, offered rebar at $680-710 per tonne fob, widening downward by $10 per tonne from a week ago."We reduced prices f...Read More
Turkey exported 615,575 tonnes of flat steel products in August 2021, according to the Turkish Statistical Institute (TUIK), up by 46.87% year on year from 419,139 tonnes in August 2020.Most of the orders shipped in August were booked in April, when demand was very strong in all global markets.In addition, these bookings were made before the European Commission set definitive anti-dumping duties o...Read More
Turkey imported 844,898 tonnes of flat steel in August, a 30.98% increase from 645,115 tonnes in the corresponding period of 2020, the Turkish Statistical Institute (TUIK) said. Demand for flat steel was strong in May and June, when orders for August deliveries were placed. India sold large quantities of hot-rolled coil to Turkey in June.Current demand for flat steel in the Turkish...Read More
The Commonwealth of Independent States' billet export market softened somewhat after the Chinese market, which has been rendering most of the support to billet sellers, left for a weeklong national holiday that ends on Thursday October 7.China's interest in imported billet started to fall by the end of last week.The latest sale of a Ukraine-origin cargo was heard done in the middle of th...Read More