Norwegian aluminium and renewable energy company Norsk Hydro is looking at ways to use less-clean scrap in low-carbon ingot production, according to chief executive officer Hilde Merete Aasheim.Aasheim was speaking to Fastmarkets in an exclusive interview on Tuesday October 26, after the company announced record third-quarter results for its aluminium business."For us, profitability and sustainabi...Read More
Base metals prices on the London Metal Exchange rebounded during morning trading on Thursday October 28, with nickel and copper leading the pack higher.The three-month nickel price was recently at $19,735 per tonne, up by 1.7% from $19,412 per tonne at Wednesday's 5pm close. "Copper and nickel rebounded on Thursday as bargain hunters were attracted to the metals with possibly the tightest fundamen...Read More
Key data from Fastmarkets' pricing session in London on Wednesday October 27.Key drivers:?EUR?The prices of both grades antimony in Europe have stabilized recently after a previous rally over the past month-and-a-half. For antimony trioxide metal, the range widened but the mid-point was unchanged.?EUR?Antimony standard grade 2, usually used in...Read More
Buy-side sentiment in key Asian steel scrap markets has been hurt by news that Chinese trading firms were offering Southeast Asian buyers steel billet which was already imported into China, together with recent falls in the scrap price in Turkey, sources said on Thursday October 28.?EUR?Easing bulk freight costs reduce Bangladesh deep-sea bulk scrap prices?EUR?China import demand muted after steel...Read More
China's domestic rebar prices continued to fall on Thursday October 28, but demand picked up following gains in the futures market during the afternoon trading session.Domestic Eastern China (Shanghai): 5,100-5,150 yuan ($798-806) per tonne, down by 80-100 yuan per tonneThe most-traded January rebar futures contract on the Shanghai Futures Exchange dropped to 4,464 yuan per tonne on Thursday morni...Read More
A summary of production figures and financial results from Finnish metal producer Terrafame for the third quarter of 2021, as stated in its earnings report released on Thursday October 28.In brief Strong year-on-year gains in nickel and zinc output during the September quarter reflect low production figures in the comparison period due to a long maintenance shutdown. Net sales climbed almost 25% i...Read More
The Ramu Nickel-Cobalt integrated operation in Papua New Guinea has been suspended due to increasing numbers of Covid-19 infections among staff, Canadian stakeholder Nickel 28 Capital has said."Nickel 28 Capital has been notified by Metallurgical Corporation of China [MCC], our operating partner at the Ramu mine, that the mine site has paused production and operations for the next two weeks to pro...Read More
Base metals prices on the London Metal Exchange were up across the board at the 5pm close of trading on Thursday October 28, continuing to rebound following a recent period of widespread selling."Given the [recent] price action, this Friday's week- and month-end closes should be important to determine whether we see some longer-term length liquidate," Alastair Munro, LME desk analyst at Marex, sai...Read More
The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More
Prices for steel billet exports from the Commonwealth of Independent States region continued to soften in the week to Thursday October 28 amid an unfavorable environment in the global market.Lack of demand was one of the main reasons for the downtrend. China has been one of the main global consumers of billet imports, from the CIS in particular, but it suddenly lost interest in imported material d...Read More
Steel wire rod producers in Southern Europe have tried to increase offer prices this week, despite buyer resistance, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered southern Europe, remained at ?,?760-800 ($882-928) per tonne on Wednesday, October 27. ItalyIn Italy, wire rod was heard traded at ?,?760-770 per tonne delivered...Read More
Brazilian miner Vale will resume activities at its On??a Puma nickel mine in the country's northern state of Par?? following a favorable decision from a superior court in the country, the company said on Thursday October 28.The Superior Court of Justice (STJ), which is Brazil's federal court of appeals, on October 26 suspended a previous injunction given out by the Par?? state court that had revok...Read More
The United States Securities and Exchange Commission (SEC) sent a notice to Brazil-based miner Vale regarding a possible investigation surrounding the Brumadinho tailings dam disaster in 2019.The SEC staff made a preliminary determination to recommend the beginning of proceedings against Vale, alleging that the company's disclosures about dam safety management and the Brumadinho dam could have...Read More
Prices for imports of basic pig iron into China have inched upward over the past fortnight, after transactions for Brazilian cargoes completed on October 15, sources told Fastmarkets on Thursday October 28.Following those deals, however, buying activity started to slow down because sellers were offering cargoes at higher prices due to tight supply, market participants said.Around 120,000 tonnes of...Read More
U.S. equity index futures were lower this morning following release of lower than consensus quarterly results and guidance by Amazon, Apple and Starbucks. S&P 500 Index dropped 19 points in preopening trade. U.S. equity index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for September Personal Income was a slip of 0.1% versus a gain of 0.2% in Au...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
China's domestic rebar prices continued to fall on Thursday October 28, but demand picked up following gains in the futures market during the afternoon trading session.Domestic Eastern China (Shanghai): 5,100-5,150 yuan ($798-806) per tonne, down by 80-100 yuan per tonneThe most-traded January rebar futures contract on the Shanghai Futures Exchange dropped to 4,464 yuan per tonne on Thursday morni...Read More
For anyone purely judging manganese ore supply in China by looking at port stocks, he or she could misread the market supply picture due to rising "invisible stocks" in the past one to two months, sources told Fastmarkets. Typically, ore stocks are either stored at ports or held by producers at their warehouses or local storage sites. While port stocks are visible and measurable, the latter can be...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 27.Please click...Read More
Consolidating its position in the battery materials supply chain amid fierce competition is the biggest challenge facing Greatpower Nickel & Cobalt Materials Co, company president Dongqiang Cao told Fastmarkets in an interview.Previously, attracting investment and improving the ability to provide finance had proved to be a bottleneck in the early stages of Greatpower's development, when it expande...Read More