Prices for hot-rolled coil in the United States hit their lowest point since July amid market conditions most sources have described as slow, bearish and volatile.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $92.33 per hundredweight ($1,846.60 per short ton) on Wednesday November 10, down by 0.90% from $93.17 per cwt on Tuesday November 9 and by 1.07% from $93.33 p...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 9 that are worth another look.Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said.Growing consumer appetite for sustainable products...Read More
Domestic stainless steel prices continued their sharp drop in the week ended Wednesday November 10, with the low price attracting higher buying interest.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,300-19,500 ($3,019-3,050) per tonne, down by 500-700 yuan per tonne from a week earlier."Deals [have been] hard to conclude when prices [have been] above 20,000 yuan per to...Read More
Exporters of steel scrap from Japan are finding it increasingly difficult to find buyers for their material at acceptable prices, sources told Fastmarkets on Wednesday November 10.Wednesday saw another price decrease at major buyer Tokyo Steel, which will drop its buy prices by ?500 ($4) per tonne across all grades and all works with effect from November 11. This will be the third decrease so far...Read More
Steel rebar producers in Southern Europe have achieved higher prices in deals over the past week amid increased buying activity and high costs, with optimistic sentiment supported by the new EU-US trade agreement, sources told Fastmarkets on Wednesday November 10.Fastmarkets' assessment of the price for steel reinforcing bar (rebar), domestic, delivered Southern Europe, climbed to ?,?765-800 ($887...Read More
Nickel premiums rose in Europe and the United States in the week ended November 10 due to tight supply conditions pushing premiums and spot activity higher; China retreated slightly amid an increased arbitrage loss.US nickel premiums continue to rise to historic highsPremiums in Europe rise to highest level in 2021Chinese premiums retreat slightly with arbitrage loss between London and ShanghaiEur...Read More
Cobalt hydroxide suppliers have made aggressive offers in negotiations for annual long-term contracts, sources told Fastmarkets on the sidelines of the Antaike Nickel & Cobalt conference in Ningbo, China, on November 1-3.Since the annual mating season in 2019, most cobalt hydroxide sellers and buyers have adopted a pricing mechanism for their long-term contracts for the crucial and preferred cobal...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
Domestic steel reinforcing bar prices in the United States were flat week on week at a 13-year high, with many market participants expecting the number to increase again before long.Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US was $50.25 per hundredweight ($1,005 per short ton) on Wednesday November 10, sideways from the previous week at its highest point since the...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
Prices for low-carbon ferro-chrome continued to rise strongly in the week to Wednesday November 10, with the market still undersupplied and prices reaching a new record high since collapsing in November 2008.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, was $3.80-4.09 per lb Cr on November 9, up by 34-37 cents from $3.43-3.75 per lb Cr two weeks earli...Read More
Trading activity was still limited in the European hot-rolled coil sector on Wednesday November 10, with buyers pausing their purchasing activity to assess the market, sources told Fastmarkets.Producers, meanwhile, have been insisting on increasing their prices for first-quarter-rolling coil in 2022, claiming that the rises were necessary due to higher costs for energy, transportation and carbon.S...Read More
Turkish steel mills resumed their deep-sea scrap imports on Wednesday November 10, with prices showing a slight downturn, market participants told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 20,000 tonnes of heavy melting scrap 1&2 (80:20) at $497 per tonne and 10,000 tonnes of bonus at $517 per tonne cfr.The same mill booked a second Baltic Sea cargo consis...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
An overview of the consumer electronics markets and their latest price moves on Wednesday November 10.Ruby Liu in...Read More
Chinese lithium-ion battery cathode materials producer Beijing Easpring Material Technology has entered into an agreement to set up a plant for cathode active materials (CAM) with Finnish mining and battery projects investor Finnish Minerals Group.Under the agreement, a joint venture will be set up to construct and operate the CAM plant, with the Beijing Easpring controlling a 70% share while its...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
China's domestic rebar prices fell to an eight-month low on Wednesday November 10, with the decline coming amid persistently weak demand.Domestic Eastern China (Shanghai): 4,640-4,670 yuan ($726-730) per tonne, down by 260-270 yuan per tonnePrices are now at their lowest since March 12, when they were at 4,700-4,730 yuan per tonne.The major reason for the sharp decline was bearish sentiment caused...Read More
Stainless scrap prices in the United States continued to inch up despite slightly reduced scrap requirements from the consuming mills given the year-end holiday season and maintenance shutdowns.Demand remains solid, however, and stainless scrap prices have continued to move higher. Sources credited solid nickel values on the London Metal Exchange, an uptrend in the ferrous scrap market for Novembe...Read More