Spot prices for containerized steel scrap imported into Taiwan continued to rise on Wednesday September 1 amid high freight costs from the United States' West Coast to Taiwan and a lack of container vessels and freight space. Taiwan pays $448 per tonne for containerized scrapChina reports renewed interest for scrap importsCovid-19 pandemic weighs on Vietnam import demandDemand in India could...Read More
European steel H-beam prices remained unchanged on Wednesday September 1, with market participants mulling the potential for a change in direction following a drop in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,240-1,275) per tonne on Wednesday, unchanged week on week.After returning to w...Read More
Aluminium producer Emirates Global Aluminium (EGA) plans to expand its production of sustainable aluminium, according to Salman Abdulla, executive vice president of health, safety, sustainability, environment, fire and rescue, quality, and business transformation.The company said in February that it would supply 43,000 tonnes per year of CelestiAL aluminium to BMW Group. EGA has supplied meta...Read More
The alumina price in the Atlantic is likely to trade at a higher premium compared with the Pacific in the near term due to refinery disruptions and high freight rates, according to Duncan Hobbs, research director at trading house Concord Resources.A fire in late August at the Jamalco alumina refinery, which produces 1.5 million tonnes of material per year, is costing the market 95,000-100,000 tonn...Read More
Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Chile's Ministry of Energy & Mining has unveiled a national mining policy that will run until 2050, the Pol?-tica Nacional Minera 2050, which sets out a series of initiatives intended to decrease the amount of water used by the country's mining industry, as well as to increase transparency across the sector.The policy blueprints were published on Tuesday August 31.The government initiative, which...Read More
Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More
Most base metals traded lower in the morning session on the London Metal Exchange on Wednesday September 1, following the release of manufacturing data from the United States and China that point to cooling economies, particularly China.The Chicago manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July, while China's Caixin manufacturing PMI fell to 49.2 in August,...Read More
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Turkish steel producers remained out of the deep-sea scrap market on Wednesday September 1, booking no new cargoes, market participants said.No new cargoes were heard booked on the market, which was described as "quiet." Mills were said to be trying to bid at prices that were lower by as much as $10 per tonne from the previous transaction...Read More
A closed arbitrage for imports into China reduced interest for spot trades and, subsequently, premiums eased in Shanghai, but in Southeast Asia and the United States premiums were stable. Closures related to Covid-19 in the region and better import opportunities into China are keeping Southeast Asia premiums steady. High freight and logistics costs are supporting US copper premiums at their h...Read More
Domestic prices for cold-rolled coil in Europe were stable in the week to Wednesday September 1, supported by full order books at producers, sources have told Fastmarkets.Sentiment among buyers, however, has been negative due to a combination of competitive import offers, expected low demand from the automotive sector and sufficient stocks at distributors.A continuing shortage of semiconductors ha...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
The export slab price from Iran decreased in the week to Wednesday September 1 after a fresh booking was heard at a lower level.Khouzestan steel, one of the country's largest slab exporters, finalized a tender for 40,000 tonnes of material to be shipped in mid-September at $680 per tonne fob southern ports, sources told Fastmarkets.Read More
Chile's state-owned copper producer Codelco has removed the threat of strike action by signing a final labor deal with the unions representing employees at its El Teniente division.The new terms of the labor agreement will be in place until the end of 2024, the company said on Tuesday August 31.Codelco had reached an agreement with the El Teniente and Caletones unions on August 28, but the deal no...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on the morning of Wednesday September 1, in the face of further evidence of a slowdown in manufacturing activity. Chicago's manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July China's Caixin manufacturing PMI also showed contraction with a fall to 49.2 in August,...Read More
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The European-origin cargo was heard late on August 27, after the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on August 30.The cargo was booked by a steel mill in th...Read More
Seaborne coking coal prices were up in both the cfr and fob markets on Wednesday September 1, although sources at two major mills in China said they did not want to buy at such high prices.Domestic first-tier coking coal prices in China, meanwhile, increased in fourth-quarter long-term contracts and coke prices increased for the eighth round since the start of August, sources said. Fastmarket...Read More