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INTERVIEW: Feralpi commits to decarbonization in face of challenging market environment

October 19, 2021 / www.metalbulletin.com

Giuseppe Pasini, chairman of Italy's Feralpi Group, one of the leading long steel manufacturers in the European Union, spoke with Fastmarkets' Julia Bolotova about the challenges facing the European steel sector and Feralpi's strategy in light of the EU's ambitious greenhouse emissions reduction goals and global trade restrictions.Energy crisis in EuropeThe recent jump in electricity and gas price...Read More

Tech Talk for Monday October 18th 2021

October 18, 2021 / www.timingthemarket.ca

World equity indices moved higher again last week. Seasonal influences for developed nations naturally turn positive in the first half of October for a trade that frequently lasts to the first week in January. ObservationsFavourable seasonal influences by U.S. and Canadian equity indices were extended last week. Indices have entered into their strongest twelve week period of the year.Short term sh...Read More

DAILY STEEL SCRAP: Turkish steelmakers continue their December bookings

October 19, 2021 / www.metalbulletin.com

Turkish steelmakers continued to book deep-sea scrap cargoes for December shipment at the start of the week, market participants told Fastmarkets on Monday October 18.A steel mill in the Iskenderun region booked a Baltic Sea cargo, consist of 6,500 tonnes HMS 1&2 (95:5) at $512 per tonne cfr. Market participants were unsure of the premium for this transaction over HMS 1&2 (80:20),...Read More

TURKEY DOMESTIC STEEL SCRAP: Rising import costs drag up domestic prices

October 19, 2021 / www.metalbulletin.com

Turkish domestic scrap prices have increased during the week to Monday October 18 in line with rising imported scrap values, market participants said.Turkish steelmakers have been paying higher prices for deep-sea scrap in recent weeks due to limited supply and firm demand.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $489.99 per tonne on Mo...Read More

Vale, Jiangsu Shagang sign low-carbon steel MoU

October 19, 2021 / www.metalbulletin.com

Brazilian iron ore producer Vale has signed a memorandum of understanding with Chinese steel group Jiangsu Shagang to explore low-carbon steelmaking solutions, the former said on Monday October 18.The companies intend to develop feasibility studies on using products such as higher-purity iron ore, which has a lower carbon footprint, in the iron-making process, and cooperation on Tecnored facilitie...Read More

COKING COAL DAILY: Prices slightly up; Mongolian coal truck numbers to increase

October 19, 2021 / www.metalbulletin.com

Seaborne coking coal prices increased slightly on Monday October 18. And the number of trucks for transporting Mongolian coal is expected to increase, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.56 per tonne, up by $1.46 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, up by $3.39 per tonnePremium hard coking coal, fob DBCT: $400.30 per tonne, up by $0.6...Read More

IRON ORE DAILY: Prices down slightly amid weak steel demand

October 19, 2021 / www.metalbulletin.com

Iron ore prices were mostly down a bit on Monday October 18 with limited liquidity amid weak steel demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.32 per tonne,down $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.97 per tonne,down $0.53 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.47 per tonne, up $0.18 per tonne65% Fe Brazil-origin fines,...Read More

AT A GLANCE: Rio Tinto posts 4% fall in Q3 Pilbara iron ore output, shipments up 2%

October 19, 2021 / www.metalbulletin.com

A summary of Rio Tinto's third-quarter production and shipment results, released by the company on Friday October 15. In brief Pilbara iron ore production (100% basis) in the third quarter of 2021 was 4% lower year on year due to heritage management, brownfield mine replacement tie-ins and project completion delays.Iron ore shipments from Pilbara increased by 2% year on year in the third quarter d...Read More

Seaborne concentrate, pellet prices boosted by futures strength, increased demand

October 19, 2021 / www.metalbulletin.com

Seaborne iron ore concentrate and pellet prices rose in the week ended Friday October 15, benefitting from an uptrend in futures and increased buying interest ahead of upcoming sintering restrictions, market sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $46 per tonne, up $4.10 per tonne66% Fe concentrate, cfr Qingdao: $149.31 per tonne, up $10.80...Read More

CHINA HRC: Demand concerns weigh on prices

October 19, 2021 / www.metalbulletin.com

Spot prices for hot-rolled coil (HRC) in China retreated on Monday October 18 with the latest economic data sparking concerns over demand.DomesticEastern China (Shanghai) was 5,700-5,800 yuan ($886-901) per tonne, down by 30-60 yuan per tonne.Offers for spot HRC in Shanghai slipped to lows of 5,700-5,720 yuan per tonne on Monday morning, with the most-traded HRC contract on the Shanghai Futures Ex...Read More

LIVE FUTURES 18/10: LME metals prices stay high; eyes on backwardated spreads

October 19, 2021 / www.metalbulletin.com

Base metals prices on the London Metal Exchange mostly rose during morning trading on Monday October 18, due to continued fears of supply tightness.Copper has hit a high of $10,452 per tonne already this morning. The three-month copper price was last at $10,292.50 per tonne, up slightly from $10,281 per tonne at Friday's close. Available stocks on the LME hit their lowest since 1974 per tonne on F...Read More

CHINA REBAR: Prices down following unfavorable housing market data

October 19, 2021 / www.metalbulletin.com

China's domestic rebar prices dropped on Monday October 18 following the release of data by National Bureau of Statistics (NBS) showing a decrease in new housing starts.DomesticEastern China (Shanghai): 5,730-5,770 yuan ($890-896) per tonne, down by 30-40 yuan per tonneThe construction area of newly started houses came to 1.53 billion square meters in the first three quarters of 2021, down by 4.5%...Read More

MORNING VIEW: Base metal prices strong as energy shortages threaten supply

October 19, 2021 / www.metalbulletin.com

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally up strongly this morning, Monday October 18, with energy shortages and high energy prices continuing to affect supply. The market seems to be ignoring, for now, the weaker economic data out of China.China's gross domestic product climbed 4.9% in the third quarter, down from 7.9% in the second quarter.Autom...Read More

PEOPLE MOVES: Mart?-n N????ez, Candida Owens join MtalX in minor metals/ferro-alloys expansion

October 19, 2021 / www.metalbulletin.com

Senior traders Mart?-n N????ez and Candida Owens have joined UK-based commodity trading house MtalX.They will expand MtalX's minor metals and ferro-alloys footprint, the company told Fastmarkets. The London-based traders will focus on magnesium, silicon, antimony, cobalt, noble alloys and bulk alloys as...Read More

ANTIMONY MONTHLY REVIEW - OCTOBER: Tightening metal, trioxide supply

October 19, 2021 / www.metalbulletin.com

The antimony metal and trioxide markets remained tight, with China's environmental checks the main factor pushing the prices up; some market players hope that smelters in Hunan, China, could reopen at the end of October, easing supply.Price movesThe Chinese antimony price steadily moved up in September due to tight domestic supply. Most producers suspended operations due to a shortage of raw mater...Read More

Trade log: Cobalt standard grade, in-whs Rotterdam, $/lb

October 19, 2021 / www.metalbulletin.com

The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 26.45-27.15...Read More

Trade log: Cobalt alloy grade, in-whs Rotterdam, $/lb

October 19, 2021 / www.metalbulletin.com

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade,...Read More

Vale halts operations at On??a Puma mine after court order

October 18, 2021 / www.northernminer.com

Vale reported today that it has once again halted operations at its On??a Puma nickel mine after Brazil's state of Par?? obtained a court order to reinstate the suspension of the venture's operating license.Operations at On??a Puma were first halted in early October, but a judge granted Vale an injunction on October 7 allowing it to resume activities.The suspension comes after a new decision by a...Read More

Pallinghurst raises ownership in Nouveau Monde; takes stake in Talon Metals

October 18, 2021 / www.northernminer.com

The Pallinghurst Group is raising its stake in Nouveau Monde Graphite (TSXV: NOU; NYSE: NMG) and taking an initial stake in Talon Metals (TSX: TLO).Pallinghurst's graphite subsidiary is increasing its interest in Nouveau Monde Graphite to 21% from 15.2% with the conversion of the outstanding $15 million principal amount of Nouveau's convertible bond to common shares.Pallinghurst, a global investor...Read More

Noront Resources picks Wyloo bid over BHP

October 18, 2021 / www.northernminer.com

A months-long battle over nickel-copper miner Noront Resources (TSXV: NOT) may have come to an end as the Canadian company said today that it had picked a sweetened bid from Australian mining billionaire Andrew Forrest's Wyloo Metals, over the latest offer from BHP (NYSE: BHP; LSE: BHP; ASX: BHP). Wyloo's 70 ? per share proposal represents a superior value for shareholders, Noront said,...Read More

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