Aluminium market participants in Europe have reported growing concerns over the possible implications for the production of secondary aluminium ingot DIN226 after a recent fire at the Befesa salt slag treatment plant in Hanover, Germany, on November 5.A fire broke out at the plant in Brinker Hafen on that date, and was reported to have caused millions of euros-worth of damage."We are working acros...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Tight supply and steep backwardation on London Metals Exchange continued to support European premiums while China premiums retreated slightly amid increased arbitrage loss, and US premiums were stable in the week to November 16, Fastmarkets learned.European premiums strong while long term contact negotiations for 2022 ongoingChina premiums slid amid increased arbitrage lossUS premiums unchanged wi...Read More
Chinese metals production and processing group Daye Nonferrous will postpone the start of operations at its new double-flash copper smelter for six months because of a lack of essential buiding components that have been sourced from overseas, Fastmarkets has learnt.The 400,000 tonnes per year project in Huangshi, close to Wuhan, was scheduled to come online by the end of this year, but commissioni...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Spot prices for hot-rolled coil in China inched lower on Wednesday November 17 after a small rally in the futures market failed to provide sufficient upward momentum to the spot market.DomesticEastern China (Shanghai): 4,680-4,740 yuan ($734-743) per tonne, down by 10-40 yuan per tonneThe most-traded HRC contract the Shanghai Futures Exchange rose on Wednesday, snapping three consecutive trading d...Read More
Rio Tinto is to add capacity at its AP60 aluminium smelter in Quebec, increasing output by 45% in the first major investment in Canada's smelting production hub in a decade, the company said.The mining company plans to spend $87 million to increase its low-carbon aluminium production at the smelter by adding 16 new smelting cells, boosting annual production by 26,500 tonnes to 86,500 tonnes.The ne...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 17 that are worth another look.Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts...Read More
Price movements for seaborne iron ore were largely rangebound on Wednesday November 17 except for the mid- and high-grade iron ore fines segments, which tracked the stronger transacted prices on a trading platform, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.08 per tonne, up $1.04 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.30 per tonne, up $0.30 per...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 17.Key drivers European ferro-titanium spot prices were unchanged for the fifth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco was settled in the current spot price range, according to sources. There were no reported spot trades over the week to Wednesday November 17. Ferro-titanium s...Read More
Demand for stainless scrap in the United States has remained solid and mostly supportive of prices, sources told Fastmarkets, but with tighter year-end inventory controls and some maintenance shutdowns, scrap requirements from consuming mills are expected to be less strong for the remainder of 2021."There is still a feeling of fragility surrounding current pricing, and it wouldn't take much for pr...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 17 due to ongoing weak demand, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,130- 1,170 ($1,283-1,329)per tonne on Wednesday, compared with ?,?1,150-1,250 per tonne one week previously.Hollow section prices have remained weak due to lower f...Read More
Base metals futures on the London Metal Exchange were largely lower at the 5pm close on Wednesday November 17, succumbing to a strong US dollar index and other headwinds.The US dollar index remained at its highest since July 2020, touching 96.27 during early trading before stepping back to 95.83 at the close."It seems that the upside momentum has stalled in several markets over the last 24 ho...Read More
A summary of London Metal Exchange warrant premiums for the week to Wednesday November 17.Please click...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
The United States ferrous scrap export market remains on an even, if somewhat subdued, keel in the wake of three US cargoes reportedly sold to Turkey at stable prices.A mixed deep-sea cargo priced at $523 per tonne cfr comprising a 90:10 mix of No1 and No2 heavy melting scrap and bonus-grade material was heard offered to a Turkish mill out of Houston on Wednesday November 17. It is understood that...Read More
The European Commission (EC) has proposed a revamp of the EU waste shipment rules under which the export of its metal scrap to nations not belonging to the Organisation for Economic Co-operation and Development (OECD) group would face significant restrictions, it said on Wednesday November 17.Wednesday's proposed shake-up will need to pass through the EU's lawmaking process, including both the Eur...Read More
Steel rebar prices have been broadly stable in Southern Europe over the past week despite a slowdown in market activity.But producers continue to mull another price increase before Christmas, source told Fastmarkets on Wednesday November 17.Fastmarkets' assessment of the price of steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?770-790 ($874-897) per tonne on Wednesday, wi...Read More
London Metal Exchange base metals prices mostly softened on the morning of Wednesday November 17 apart from those for aluminium and nickel, with the US Dollar Index rising to new heights. The US Dollar Index rose to 96.27 during early trading, its highest since July 2020. The three-month copper price was at $9,493.50 per tonne at 9am on Wednesday, down by 0.7% from its closing price of $9,561 per...Read More
Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts said in an event on Wednesday November 17.Steel companies have accepted the need to change their production models, but several challenges are in the way of reducing the indus...Read More