Seaborne iron ore concentrate and pellet prices fell during the week to Friday November 5 amid weaker demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $55.70 per tonne, up by $8.60 per tonne66% Fe concentrate, cfr Qingdao: $117.73 per tonne, down by $19.75 per tonne65% Fe blast furnace pellet, cfr Qingdao: $169.69 pe...Read More
Modest gains were seen in base metals futures prices at the 5pm close of trading on the London Metal Exchange on Monday November 8 because of a weaker US Dollar Index, which supported price increases.Aluminium led the gains, its price increasing by almost 2% to $2,605.00 per tonne, up from $2,556.50 per tonne at Friday's 5pm close. This rise followed a 5% decline in the three-month price for the l...Read More
Turkish steel mills were quiet at the beginning of the week but are expected to book more deep-sea cargoes for December shipment, market participants told Fastmarkets on Monday November 8.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
Modest gains were seen in base metals futures prices at the 5pm close of trading on the London Metal Exchange on Monday November 8 because of a weaker US Dollar Index, which supported price increases.Aluminium led the gains, its price increasing by almost 2% to $2,605.00 per tonne, up from $2,556.50 per tonne at Friday's 5pm close. This rise followed a 5% decline in the three-month price for the l...Read More
London Metal Exchange futures prices remained under pressure from a strong US Dollar Index amid rising concerns over the potential impact on demand of a resurgence in Covid-19 in Europe and China.Zinc's three-month price was the most affected, down by 1.1% on Monday at 9am to $3,190 per tonne - from $3,228.50 per tonne last Friday. Last week, the galvanizing metal was down 4.7%, with trading...Read More
The publication of Fastmarkets' monthly blister copper refining charge for October was delayed due to a reporter error. Fastmarkets' pricing database has since been updated with the following price, originally scheduled to be published on last working day of October. Fasstmarkets' price assessment for opper blister 98-99% RC spot, cif China was $150-170 per tonne on Friday October 29 and as u...Read More
French metal and mining group Eramet is combining with Chinese stainless steel producer Tsingshan to restart a lithium plant in Argentina, Eramet said on Monday November 8.The lithium project is in the Centenario Ratones salar (salt desert) in the province of Salta, in the north of Argentina, according to Eramet's presentation.The Centenario Ratones project has estimated capacity for 24,000 tonnes...Read More
The latest data for the global manganese ore market for the week ending November 8, 2021.Read More
China's daily average crude steel output fell sharply in the last 11 days of October, compared with the preceding 10 days, according to data published by the China Iron & Steel Association (Cisa) on Friday November 5.October 11-31 outputCrude steel: 1.74 million tonnes per day, down 7.43%Finished steel: 1.80 million tpd, down 2.25%...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Monday November 8, but those on the Shanghai Futures Exchange were mainly firmer as they followed the strength seen on the LME on Friday.US Congress' passing of the long-awaited infrastructure bill bodes well for the metals Chinese trade data show a record surplus, but weaker than expected imports highlight weaker...Read More
London Metal Exchange futures prices remained under pressure from a strong US Dollar Index amid rising concerns over the potential impact on demand of a resurgence in Covid-19 in Europe and China.Zinc's three-month price was the most affected, down by 1.1% on Monday at 9am to $3,190 per tonne - from $3,228.50 per tonne last Friday. Last week, the galvanizing metal was down 4.7%, with trading...Read More
Details of new investment by Egypt's Ezz Steel, including the possible acquisition of a stake in another steel company, will be disclosed in a timely manner after financial evaluation and legal audit are completed, the company said in a statement to the country's stock exchange on Sunday November 7.There were rumors in the Egyptian steel market that Ezz Steel, the country's biggest steel producer,...Read More
The manganese seaborne and portside ore markets diverged during the week to Friday November 5, with the higher-grade cif market strengthening on higher offers and fot prices weakening on the softer alloy market.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.80 per dry metric tonne unit (dmtu) on Friday, an increase of 22 cents (+3.9%) from $5.58 per dmtu one week e...Read More
The gap between offers and bids for long steel products from the Commonwealth of Independent States widened in the week to Monday November 8, with higher offers from Ukrainian mills but reduced availability of material.Russian mills were mostly absent from the export business due to the current favorable conditions in their local market.Meanwhile, bids from customers and estimates of workable pric...Read More
Aluminum producer Alcoa plans to restart some curtailed capacity at its Portland Aluminium joint venture in Victoria, Australia, with more production at the smelter set to come online in the third quarter of 2022, the company said on Sunday November 7.The process to restart the additional capacity, idled since 2009 and totaling 35,000 tonnes per year, will begin immediately, the United States-head...Read More
The export market for steel slab from the Commonwealth of Independent States (CIS) region was quiet in the week to Monday November 8.Mills mainly held back from placing new offers, preferring to assess the market conditions, so no fresh deals were heard done.Meanwhile, the situation in the global market was mixed.In Europe, plate producers, which are the main consumers of CIS-origin slab in the re...Read More
The domestic market for hot-rolled coil in Europe remained quiet on Monday November 8, with prices showing little change, sources told Fastmarkets.Producers were, however, looking to achieve higher prices for the first quarter of 2022 because of the surging costs for raw materials, transport and energy.Expected restocking activity at distributors was also supporting market sentiment. Notably, seve...Read More