A summary of Spanish stainless steelmaker Acerinox's financial results for the third quarter of 2021, ending on September 30.In brief?EUR? Earnings before interest, taxes, depreciation and amortization (Ebitda) increased for the fifth consecutive quarter - its third-quarter results were the best since the second quarter of 2007, Acerinox said.?EUR? It attributed its strong performance in the third...Read More
Steel prices in the United States are poised to continue decreasing at a slow pace in the coming months, Luxembourg-based steelmaker Ternium said on Wednesday November 3.Supply and demand fundamentals have started to normalize in the country, but remain far from balance, according to Ternium chief executive officer M??ximo Vedoya.Among the drivers for lower prices, the CEO cited capacity usage in...Read More
Prices for steel rebar in Poland inched lower during the week to Friday November 5 amid slower activity, with market participants expecting either a rollover or a slight increase in prices for November, Fastmarkets heard.Trading activity in the Polish rebar market slowed this week because local stockholders and distributors had previously replenished their stocks and were not chasing for material....Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
Domestic rebar prices in China fell on Thursday November 4, but the rate of decline was slower than that a day earlier after the market was supported by tighter supply from steel mills and on the spot market.East China (Shanghai): 4,900-4,930 yuan ($765-770) per tonne, down by 50 yuan per tonneOver the week to Thursday, rebar output totaled 2.88 million tonnes, a decrease of 21,600 tonnes from the...Read More
The Brazilian federal government has decided to cut by 10% the import duties imposed on most materials under its tariff system, the ministries of economy and foreign relations said in a joint statement on Friday November 5.Among the changes, duties on the majority of flat-rolled and long steel products will be cut to 10.8%, from 12% currently. Import taxes on stainless steel will drop to 12.6% fro...Read More
The export pig iron market from the Commonwealth of Independent States softened in the week ended Thursday November 4 due to demand from the United States at lower prices than neighboring markets.Fastmarkets' price assessment for high-manganese pig iron export, fob main port Black Sea, CIS $520-545 per tonne on November 4, down from $550 per tonne a week before.Buyers in the United States, who hav...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...Read More
Spot prices for hot-rolled coil in China edged lower on Friday November 5, while futures prices set a new nine-month low.DomesticEastern China (Shanghai): 4,960-5,000 yuan ($775-781) per tonne, widening downward by 20 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,030-5,090 yuan per tonne, down by 260-270 yuan per tonne Spot HRC prices in eastern China ended the week down by 340-370...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
Peru's copper output increased 17.9% in September compared with the same month in 2020, but other metals, such as zinc and lead, declined compared with 2020 levels, according to the Ministry of Energy & Mines (Minem).Higher production from Antamina, Freeport-McMoRan's Cerro Verde and the Southern Per?? Copper Corp (owned by Minera Mexico), all contributed to the increased output of 202,681 tonnes...Read More
The price of manganese flake has reached all-time highs in China and Europe, with most producers remaining bullish on the medium-and long-term outlook due to supply tightness. However, risk aversion continues in Europe; some cheaper offers are casting doubts about the immediate price direction of the metal, Fastmarkets heard.The manganese flake price has been on the rise in China since May, peakin...Read More
Turkish steel mills have continued their deep-sea scrap imports with recovering prices on Thursday November 4, market participants told Fastmarkets.A steel mill in the Marmara region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (80:20) at $500 per tonne, 7,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr. Another steel mill in the same region booked a cargo from the...Read More
Base metals prices on the London Metal Exchange were down across the board at the 5pm close on Thursday November 4, with strength in the United States Dollar supporting price weakness across the complex.The US Dollar Index was most recently at $94.39 after hitting an intraday high of $94.47, the highest level since October 13, with base metals trading downward as a result. The three-month alu...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 4 that are worth another look.The agreement reached between the United States and the European Union regarding the replacement of Section 232 tariffs will support domestic prices for flat steel in Europe but...Read More