Suppliers in China's domestic spot ferro-chrome market lowered their offer prices in the week to Tuesday August 31 after Tsingshan reduced its September ferro-chrome tender price by 800 yuan ($124) per tonne the week before.As a result, Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 600 yuan per tonne (5.7%) to 9,800-10,200 yuan ($1,517-1,579) per to...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
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
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
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
Swedish steelmaker SSAB is to deliver fossil-free steel to automotive producer Mercedes-Benz AG for use in prototype parts for its vehicles, SSAB announced on Wednesday September 1.The two companies will work together in a partnership to use the fossil-free steel in automotive production, with the first trial for body car parts made from the steel planned for 2022.Mercedes-Benz said that by the ye...Read More
Angola's first cargo of iron ore lump was finally shipped out of southwest Africa in early August after a lengthy delay, according to Jamie van Reijendam, general manager of global trade at London trading house Ronly.The 60,000-tonne shipment of 60% Fe Cutato lump was loaded onto the vessel MV Desert Dignity from the Sacomar terminal in Port Namibe, bound for a consumer in northern China, Van Reij...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 1.Please click...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...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
Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...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
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
Sentiment in the European market for steel heavy plate was downbeat in the week to Wednesday September 1 due to declines in both the costs for raw materials and semi-finished steel prices, sources have told Fastmarkets.Competitive offers from Central Europe also contributed to the negative mood in the market.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was u...Read More
Activity in the European hot-rolled coil market remained limited on Wednesday September 1, with mills keeping prices stable and buyers demanding price decreases, sources told Fastmarkets.Market sources believe that the situation is unlikely to change in September - buyers have sufficient stocks and producers have good order books, so both sides can maintain a "wait-and-see" stance.Buyers believe t...Read More
The 300-series stainless scrap market in the United States has picked up momentum, with processors already looking ahead to anticipated strong demand in the fourth quarter; meanwhile, 400-series prices increased despite expectations that ferrous scrap prices could fall this month."There is still a decent appetite for stainless scrap, but processors are being more conservative with pricing until mi...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
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
Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...Read More