Environmental, social and governance (ESG) investors should be reducing exposure to plug-in hybrid- and fuel cell-weighted automotive supply chains and focusing instead on battery electric vehicles (BEV), according to a report by Jefferies. Ford's recent announcement of record-setting investment in electric vehicles (EVs) gives a clear signal to the market: BEVs are the future, with hybrids a...Read More
Fastmarkets has corrected the pricing rationales for MB-CO-0004 cobalt alloy grade, in-whs Rotterdam, $ per lb, and MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which were published incorrectly on Thursday September 30 due to reporter and editor errors.The rationale for the cobalt alloy grade, in-whs Rotterdam, $ per lb has been corrected to state that the assessed range move...Read More
Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%."Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 30 that are worth another look.Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Australia-based mining company South32 have announced...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 29 that are worth another look....Read More
Temporary steel export duties in Russia, which have been in effect since August 1, have not impacted export volumes significantly so far, sources have told Fastmarkets.Export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), with a base rate of 15% and specific minimum rate for each product, will remain in effect until December 31, 2021.It is mainly m...Read More
Nickel's three-month price was at its lowest since late June on the afternoon of September 30; all other London Metal Exchange prices were down across the board by 2-4%."Commodities are being pressured by a surge in the dollar, coupled with supply chain pressures that are having a growing impact on demand, particularly out of China where power has become the latest bottleneck," ED&F Man's head of...Read More
Seaborne iron ore prices increased on Thursday September 30, after reports of a fatality at Fortescue Metals Group's (FMG) Solomon Hub in Western Australia, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.23 per tonne, up $5.10 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.94 per tonne, up $6.92 per tonne58% Fe fines high-grade premium, cfr Qingdao: $91....Read More
Seaborne cfr prices increased on a new deal on Thursday September 30; sources expect seaborne coking coal prices in the cfr market to edge up after China's National Day holiday, partly due to the ongoing power shortage.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $603.28 per tonne, up $10.39 per tonneHard coking coal, cfr Jingtang: $565.14 per tonne, up $30.28 per tonnePremium hard c...Read More
The European Commission (EC) has started an anti-dumping investigation into flat electrolytic chromium-coated steel (ECCS) imports from China and Brazil, the EC said in the official journal of the European Union on September 24.The case was opened after European steel association Eurofer lodged a complaint on August 13, 2021.The product...Read More
The suspension of activity in the vicinity of the Xingu dam in Vale's Mariana iron ore complex has been partially revoked, allowing the associated railway to resume activities, the Brazilian company said on Thursday September 30.The Regional Labor Superintendence (SRT) had issued an order to partly reverse the suspension of operations to allow the resumption of transportation along the Vit??ria-Mi...Read More
A drop in Comex copper prices has led to a slight lowering of discounts for some copper scrap items, while brass scrap prices fell. Demand for copper scrap was said to be steady, however, with buyers not overly concerned about supply at the moment despite a recent resurgence in export demand - especially from China."There is a lot of scrap available, more than enough to get through what we need to...Read More
Australia-based mining company South32 have announced that they have exercised their pre-emptive rights to acquire an additional 25% shareholding in Mozal Aluminium from MCA Metals Holding GmbH (Mitsubishi) in a public notice released on Thursday September 30.Mozal Aluminium, a primary aluminium smelter located in Mozambique, is currently joint owned by South32 (47.1%), Mitsubishi (25%), the IDC (...Read More
Copper consumption will increase in line with surging demand for decarbonization as part of the energy transition, but a combination of factors will eventually see this trend reverse, according to analysis by G&H Metals & Mining Consultancy. The copper-focused consultancy, a collaboration between Plusmining and Simon Hunt Strategic Services (SHSS), told Fastmarkets that the annual growth in copper...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouse broadly declined in the week to Thursday September 30, with tin recording the biggest fall and aluminium being the lone riser.Tin totalled 1,272 tonnes this week, down by 279 tonnes (18.0%) from 1,551 tonnes a week before. The largest outflow was from Quansheng Logistics Caoan warehouse in Shanghai, where volumes w...Read More
A summary of W Resources' half-year results for the six months to June 30, 2021, at its La Parrilla tungsten and tin project in the Extremadura region of Spain.In brief: Revenue increased by 95% to ?,?1.97 (2.28) million from ?,?1.01 million in the first half of 2020. Total concentrate production increased by 30% to 222.6 tonnes from 171 tonnes. La Parrilla completed nine shipments of tungsten con...Read More
Steel beam prices rose in the United States' domestic and import markets on Thursday September 30 in response to a third round of mill increases. Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $68 per hundredweight ($1,360 per short ton) on Thursday September 30, up 3.82% from $65.50 per cwt on August 26, and up 7.94% from $63 per cwt on July 29.Fastmarkets' as...Read More
Domestic steel reinforcing bar prices in the United States were stable in the week to September 30, with some market participants saying that upward price momentum has come to an end."I think we have hit the wall," an East Coast distributor source said. "Jobs have been canceled or delayed, inventories are not being replenished to previous levels, and just having the bar does not get you the order...Read More
Prices in the United States for imported hot-rolled coil, cold-rolled coil and galvanized steel dropped, with foreign producers finding that they can profit if they underbid domestic mills and gain market share in the lucrative US market."The price gap between US and international prices is widening, and more and more foreign mills are interested in the US market, even from the [European Union],"...Read More
Hot-rolled coil prices in the United States edged back above $98 per hundredweight ($1,960 per short ton), with market participants at odds over whether the steel rally is about to run out of steam.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $98.08 per cwt ($1,961.60 per ton) on Thursday September 30, up by 0.16% from $97.92 per cwt on Wednesday September 29 and u...Read More