Swedish steelmaker SSAB will partner with Nordic construction company Peab to use fossil-free steel in construction projects from 2026 onward, both companies announced on Tuesday October 5.The two companies will analyze various future possibilities for how fossil-free steel can reduce the climate footprint in the construction industry."We are pleased to welcome Peab as a partner for our fossil-fre...Read More
Iron ore prices were largely flat on Tuesday October 5 with ongoing low liquidity in both the physical and futures market during the Chinese holiday, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $116.58 per tonne, down $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.34 per tonne, down $0.41 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.20 per tonne, d...Read More
Seaborne coking coal prices in the fob market on Tuesday October 5 continued to inch up amid limited supply 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: $395.98 per tonne, up by $1.80 per tonneHard...Read More
Prices on the London Metal Exchange were broadly stable from their Monday levels on Tuesday morning, October 5, with cancellations of copper warrants in Europe continuing for a third day in a row.Some 10,000 tonnes of the red metal were booked for removal from Hamburg warehouses, after the same amount was cancelled in Rotterdam on Monday and a further 10,000 tonnes were also cancelled in Hamburg o...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday October 5, while markets consolidated recent gains. But volumes have been light with Chinese participants absent due to the weeklong National Day holiday (October 1-7).Asia-Pacific equities weaker this morning as they followed Monday's weakness in the United States.Brent crude oil price back above $81 per...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 Cobalt alloy...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...Read More
Rising bid prices in the key steel-scrap import markets of South Korea, Taiwan and Vietnam have coincided with another increase in Japan's domestic prices, market sources said on Tuesday October 5.Fresh rise in Tokyo Steel buy prices gives another jolt to Japan export marketVietnam ramps up buying interestTaiwan mill buyer "shocked" by recent price increaseJapanA further strengthening in local Jap...Read More
Base metals prices on the London Metal Exchange were mainly down on the morning of Wednesday October 6, which was in line with the weakness in Asia-Pacific equities.* Brent crude oil price back above $82 per barrel – adding to inflationary pressures...* ...could be another factor to force central banks’ hands in policy tightening.* There are also fears that China's Evergrande debt proble...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.Index futures recovered slightly following release of the September ADP employment report at 8:15 AM EDT. Consensus was an increase of 430,000 versus an increase of 374,000 in August. Actual was an increase of 568,000.Constellation Brands dropped $5.94 to $207.12 after reporting lower th...Read More
Brazilian mining company Vale has halted operations at its On??a Puma ferro-nickel unit, in the country's northern Par?? state, following the suspension of a license, it said on Monday October 4.Par??'s environmental and sustainability secretariat, Semas, suspended On??a Puma's operating license, saying Vale did not meet some of its conditions, the company said.Vale was in contact with Semas to un...Read More
Honda's August production and sales of new vehicles in Japan slumped on a monthly basis, by 62.4% and 22.7% respectively.Production of new vehicles fell to 23,790 vehicles in August, while sales fell to 40,656 vehicles.The production statistics are in line with the carmaker's expectations - Honda had earlier reported Japan-based factories to be running at 40% capacity in August-September amid a sh...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
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
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
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
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
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
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