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
The prices of steel rebar and billet in the United Arab Emirates have decreased further, with demand still low, sources told Fastmarkets on Tuesday October 5.The country' biggest rebar producer, Emirates Steel, decreased its price to $655 per tonne ex-works (2,406 dirhams) on Tuesday September 28, down from $710 per tonne.This discount resulted in lower deal and offer prices, sources said.Dom...Read More
Saarstahl Ascoval, the French subsidiary of Saarstahl, has shipped its first low-carbon steel billet to its Burbach Works, in Saarland, Germany, the company said on Tuesday October 5.The steel was produced via electric-arc furnace (EAF) at Saarstahl Ascoval, in Saint-Saulve, which combines recycling management with a new manufacturing technology using carbon-neutral electricity, the company...Read More
The challenges with container shipping, including port congestion and supply chain disruptions, are likely to continue for some time, according to an executive at shipping company Oldendorff Carriers GmbH & Co.Scott Bergeron said that while Oldendorff is a dry bulk cargo shipping firm, it was receiving a surprising number of enquiries from traditional container shipping cargo owners asking for hel...Read More
Brazilian iron ore export volumes decreased by 10.12% year on year in September, according to figures from the country's economy ministry.Exports totaled 33.68 million tonnes last month, compared with 37.47 million tonnes a year earlier, according to the figures released late last week.Exports from the southeastern Minas Gerais state reached 11.23 million tonnes, down from 14.11 million tonnes in....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
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
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in September 2021.The case list below includes only updates. For other continuing cases this year, see the updates for January, February,...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 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
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
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
Activity in the European hot-rolled coil segment remained slow on Monday October 4 with both buyers and sellers holding back from trading, sources told Fastmarkets.Buyers paused their purchases in anticipation that European mills will accept lower prices in the near future. In addition, importers need time to consider the situation with the fourth-quarter safeguard quotas.A new quota period starte...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
Fastmarkets is proposing to amend the index specifications of its 62% Fe iron ore index to more closely reflect the chemical composition of mainstream mid-grade ores produced from Australia's Pilbara region.Fastmarkets proposes to amend the silica and alumina base specifications of its index for iron ore 62% Fe fines, cfr Qingdao, $/tonne [MB-IRO-0008]. The current chemical specifications of this...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
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
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
Seaborne coking coal prices in the fob market inched higher on Monday October 4 amid bids heard to be slightly higher than the last transacted price, market sources said.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: $394.18 per tonne, up by $2.68 per tonneHard co...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in September 2021.The case list below includes only updates. For other continuing cases this year, see the updates for January, February,...Read More