Turkish steel mills started the week in silence, with deals from the previous week just coming to light, market participants told Fastmarkets on Monday September 20.A shipment of United States-origin scrap was heard booked last Wednesday by a mill in the Iskenderun region, comprising unspecified volumes of HMS 1&2 (90:10) at $442...Read More
Egypt consumed 720,000 tonnes of rebar in August 2021, 61.43% more than the 407,000 tonnes consumed in August 2020, Ramy Saleh, chief business development officer at El Marakby Steel, said.The country's rebar consumption in July 2021 was 407,000 tonnes, Saleh added.The reason for the increased...Read More
Base metal futures all closed in the red on Monday after fears over China's property building sector prompted a selloff in global financial markets.At the 5pm close on Monday, London Metal Exchange three-month copper futures were at $9,033 per tonne, down by $279 - or 3% - against Friday's end of market levels. Aluminium dropped the least of the complex, down by 0.77% at $2,863 per tonne.China's s...Read More
Brazilian apparent steel consumption rose by 22.7% in August amid soaring imports of flat and long products, according to figures released by the country's steel institute, A??o Brasil.Apparent steel use reached 2.34 million tonnes last month, up from 1.91 million tonnes in August 2020, the institute said on Friday September 17.Flat steel consumption rose by 25.4% to 1.34 million tonnes, while lon...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More
All base metals prices on the London Metal Exchange were lower on the morning of Monday September 20, with a number of uncertain macroeconomic factors weighing on the market. The three-month copper price, for example, touched $9,052 per tonne on Monday during early trading - its lowest since June 21. This is a 2.8% decrease from its closing price of $9,312 per tonne last Friday. The red metal fell...Read More
Aurubis Stolberg will gradually resume production at its operations in Germany's North Rhine-Westphalia region from November 1, the company said on Monday September 20.The plant was shut on July 16 due to damage caused by flooding and the company declared force majeure."According to current information, it will be possible to start manufacturing certain strip...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More
Base metals prices have generally been under pressure in recent days while broad-based risk-off has weighed on the market, but the metals were looking more mixed on the morning of Tuesday September 21, suggesting consolidation after Monday’s average loss of 1.6% across the London Metal Exchange base metals.The risk-off sentiment seems to be tied in with concerns about whether Chinese property...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More
The first generation of nickel mining created sulfur dioxide emissions, and the second generation created carbon dioxide emissions, but Canada Nickel will, in effect, create neither when it starts to produce nickel in 2025-26, chief executive officer Mark Selby has told Fastmarkets.Selby is also chairman and a founding shareholder of the company. It was formed in September 2019 to develop the Craw...Read More
Here are five Fastmarkets stories you might have missed on Friday September 17 that are worth another look.A dire shortage of truck drivers and rail cars and unforeseen levels of demand while businesses reopen from Covid-19 pandemic-related shutdowns are among the factors contributing to the current logistics woes in the United States that have sparked...Read More
Base metal futures all closed in the red on Monday after fears over China's property building sector prompted a selloff in global financial markets.At the 5pm close on Monday, London Metal Exchange three-month copper futures were at $9,033 per tonne, down by $279 - or 3% - against Friday's end of market levels. Aluminium dropped the least of the complex, down by 0.77% at $2,863 per tonne.China's s...Read More
Spain-based ferro-alloys producer Ferroglobe is idling one of its silicon metal furnaces at its Sabon plant in Galicia because of high electricity prices, according to local trade union Confederaci??n Intersindical Galega (CIG).Ferroglobe has three furnaces at its Sabon plant, each with a nameplate annualized capacity of about 14,000 tonnes. Typical output is around 10,000 tonnes per year of a mix...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 79 points in pre-opening trade.Canadian National Railway was unchanged at U.S. $118.31 despite a target increase by Cowen from US $110 to $US119.Thermo-Fisher dropped $6.80 to $590.00 despite target increases by JP Morgan, Stifel Nicolaus and KeyBancNike dropped $2.50 to $153.92 after Deutsche Bank lowered its target...Read More
Rising freight rates continued to push the import prices for flat-rolled steel products upward in South America in the week ended Friday September 17, despite offers from China remaining scarce and demand slowing down, especially in Brazil.Some market participants reported that freight rates were $20-30 per tonne higher, depending on the port of origin and the product. For coiled material, for exa...Read More
The price range for light iron scrap in the UK widened upward during the week to Friday September 17, with major processors seeking to attract enough feedstock into their yards to keep their scrap-processing machines working cost-effectively, trade sources have said.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?170-190 ($235...Read More
Brazilian aluminium smelter Albras expects to double its output of primary foundry alloy (PFA) in 2021 over the volume in 2020, and to reach 10,000 tonnes by the end of the year, the company said on Wednesday September 15.Albras launched PFA products in 2019, and has invested in technology and workforce skill qualification to increase output in each year since then.One of the newest examples, it s...Read More
An overview of the new energy materials markets and their price moves in the week to Friday September 17.Susan Zou, Yingchi Yang and...Read More
Base metals price movements on the London Metal Exchange were mixed on Friday September 17 following a week marked by volatility, with copper, nickel and lead down, the last-named having been under selling pressure for most of the past five days.Nickel's three-month price reached $20,245 per tonne on Friday, while its volumes were at their highest since the start of the week, with more than 11,400...Read More