Key data from the Friday November 12 pricing session in China.Key drivers China's cobalt metal price rose amid gains in the local futures market and a rally in the international benchmark cobalt metal price. Chinese cobalt tetroxide suppliers pushed up offers despite thin buying amid...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
A summary of Indian steelmaker Tata Steel's results for the July-September quarter (second quarter) of its 2021-22 financial year.In brief?EUR? Crude steel production from the company's Indian operations increased quarter on quarter, as did deliveries?EUR? Consolidated production was down quarter on quarter, but deliveries were up?EUR? Automotive sales increased despite the semiconductor shortage?...Read More
The latest data for the global manganese ore market for the week ending November 15, 2021.Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
Seaborne iron ore prices slipped slightly on Monday November 15 amid continuous weak demand from Chinese steel mills, which have begun formal production curbs for the winter heating season as of today, market sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $89.05 per tonne, down by $0.64 per tonne62% Fe low-alumina fines, cfr Qingdao: $90.26 per tonne, down by $1.13 per tonne5...Read More
Here are five Fastmarkets stories you might have missed on Monday November 15 that are worth another look.Ferro-alloy supply-side disruptions will likely continue well into 2022 with production cuts in China and capacity in other regions insufficient to meet demand amid persistent logistics constraints, panelists said on Sunday November 14 during...Read More
Trading in the European hot-rolled coil market remained slow on Monday November 15, with buyers in wait-and-see mode, sources told Fastmarkets.Distributors have been holding back from making deals until the price trend becomes clear.European producers have been offering first-quarter-rolling coil at high prices, insisting that the increase is necessary due to higher energy and emission costs. In a...Read More
Global ferro-alloy markets have been supercharged this year by robust demand and supply shortages that began when the world's major producing countries faced extensive electricity limitations. With many alloy prices near record highs, conversation at this year's International Ferro-alloys conference in Prague over November 14-16 will focus on the surge in electricity prices in China and Europe, th...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
Steel rebar and wire rod producers in the Commonwealth of Independent States reduced export offer prices in response to lower bids coming from foreign customers since the beginning of November.Wire rod offers from Ukraine's main long steel supplier - ArcelorMittal Kryvyi Rih - slid to $860-870 per tonne fob Black Sea from $900-910 per tonne fob earlier in November.Meanwhile, Russian material was a...Read More
The automotive industry's shift to electric vehicles (EVs) has put the sustainability efforts of its suppliers under scrutiny, Jean-Martin Van der Hoeven, chief marketing officer of ArcelorMittal's global automotive division, told Fastmarkets in an exclusive interview.One outcome of the so-called Dieselgate scandal - in which German automaker Volkswagen, among others, admitted to manipulating the...Read More
Still weakened manganese alloy and steel markets have reversed the rally seen in manganese ore markets since early September, with prices for both low- and high-grade seaborne manganese ore falling over the week ending November 12.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.66 per dry metric tonne unit (dmtu) on Friday, down by $0.14 (-2.41%) from $5.80 per...Read More
Here are five Fastmarkets stories you might have missed on Monday November 15 that are worth another look.Ferro-alloy supply-side disruptions will likely continue well into 2022 with production cuts in China and capacity in other regions insufficient to meet demand amid persistent logistics constraints, panelists said on Sunday November 14 during...Read More
The automotive industry's shift to electric vehicles (EVs) has put the sustainability efforts of its suppliers under scrutiny, Jean-Martin Van der Hoeven, chief marketing officer of ArcelorMittal's global automotive division, told Fastmarkets in an exclusive interview.One outcome of the so-called Dieselgate scandal - in which German automaker Volkswagen, among others, admitted to manipulating the...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
China's production of crude steel declined by more than 20% in October from a year earlier, according to data released by the country's National Bureau of Statistics (NBS) on Monday November 15. Total crude steel production over the first ten months of the year was also marginally lower than that over the same period of 2020, with a 0.7% drop, the data shows.October outputCrude steel: 71.58 millio...Read More
Turkey's domestic auto bundle scrap prices have increased due to a weakening lira, while ship scrap prices have been largely stable, market participants told Fastmarkets on Monday November 15.The Turkish lira weakened further against the United States' dollar after the Turkish central bank cut the benchmark interest rate by 2% to 16% late in October.The central bank was expected to cut the interes...Read More
Domestic prices for hot-rolled coil in Europe declined slightly in the week to Friday November 12 amid subdued trading activity in the spot market.HRC buyers across Europe were largely maintaining a wait-and-see attitude during the week.European mills were still able to offer fourth-quarter HRC to the spot market at lower prices due to slowed demand from the automotive industry. Notably, some volu...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More