Import prices for rebar in Singapore increased during the week to Monday November 1 amid limited supply, with only the Middle East offering material which was deemed the lowest by local buyers.Middle Eastern rebar was offered at $760 per tonne cfr on a theoretical weight basis to Singapore in the past week, although there was limited demand."The price is still a little high and there's no point ru...Read More
Shanghai bonded copper and zinc stocks modestly declined in October due to unfavorable market conditions for imports, while aluminium stocks were flat and nickel stocks registered the biggest gain. Decline of copper stocks slows in October Shanghai bonded copper stocks continued to fall in October - by 13.5% on a monthly basis. Stocks fell by 26.7% in September. Fastmarkets assessed Shanghai bon...Read More
The carbon footprint of finished nickel produced at Vale's Long Harbour processing plant, in the Canadian eastern Newfoundland and Labrador province, has been certified to be significantly below the global average, the Brazilian company said on Monday November 1.This grants Vale an advantage in supplying North American and European markets with low-carbon nickel for the next generation of electric...Read More
Some coated-steel coil producers in Turkey decreased their prices but demand was weak during the week ending Monday November 1, sources told Fastmarkets.Demand for coated coil was moderate to weak in the country because buyers wanted to see what direction prices would take, sources said.Domestic pricesFastmarkets' weekly price assessment for steel HDG coil domestic, exw Turkey was $1,280-1,35...Read More
Domestic prices for hot-rolled coil increased across the European Union during the week to Friday October 29, despite limited trading activity in the spot market.European steelmakers have been focused on settling long-term agreements with big buyers, such as the automotive and white goods sectors. As a result, they have not been active in the spot market.At the end of last week, ArcelorMittal anno...Read More
The Commonwealth of Independent States' export prices for hot-rolled coil increased during the week ended Monday November 1, but market activity was weak, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $870-880 per tonne on November 1, rising from $850-870 per tonne on October 25.Offers from Ukraine to Turkey were at $900-910...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...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 Monday November 1 that are worth another look....Read More
The CIS export slab market was quiet in the week to Monday November 1 because most mills were absent from the market.No fresh offers were heard from Russian suppliers in the Black Sea basin, while local sources reported that the country is on lockdown until November 7, reducing trading activity.In the Far East...Read More
Prices in the Commonwealth of Independent States' export long steel market continued to grow in the week to Monday November 1, mainly due to higher offers from Ukraine because the country still has most of its quota allocation available for the fourth quarter in Europe.Meanwhile, Russian suppliers have almost fulfilled up their rebar quota and their wire rod quota has been completely exhausted.&nb...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
Market participants in the European Union expressed uncertainty on how the flow of European-produced aluminium to the United States will be impacted by a deal to between the US and EU to replace Section 232 import tariffs with a tariff-rate quota (TRQ) system."The news is still fresh and it is not clear yet what it means for the market," one European trader told Fastmarkets."On the European side,...Read More
The three-month aluminium price gained $3 to $2,719.50 per tonne from $2,716.50 per tonne at Friday's 5pm close. Volumes came off, with around 13,530 lots traded versus last week's average of 28,471 lots."Lackluster buying is still evident because high freight costs and persistent logistics constraints mean that consumers are likely...Read More
Here are five Fastmarkets stories you might have missed on Monday November 1 that are worth another look....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
China's domestic rebar prices dropped on Monday November 1 after the release of a lower steel industry purchasing managers' index.DomesticEastern China (Shanghai): 5,120-5,150 yuan ($799-804) per tonne, down by 100 yuan per tonneThe PMI for the steel industry was 38.3 points in October, down by 6.7 points from September, according to the China Federation of Logistics & Purchasing's Steel Logistic...Read More
Fastmarkets is increasing the frequency of iron ore value-in-use indices from weekly to daily from Monday November 1.Following a consultation during which favorable feedback was received, Fastmarkets is increasing the frequency of iron ore value-in-use indices from weekly to daily. Fastmarkets' iron ore value-in-use indices will be calculated and updated every Monday based on a regression analysis...Read More
Tata Steel and and Tata Power, two companies of the Tata Group, have agreed a Power Purchase Agreement (PPA) for solar power to be installed in Jamshedpur and Kalinganagar, the company announced on Friday October 29.The two companies have signed a 25-year PPA to set up the 41 megawatt(MW) solar project, which will be a combination of rooftop, floating and ground mounted solar panels, it said....Read More
Base metals prices on the London Metal Exchange were little changed on the morning of Monday November 1 compared with their month-end figures from last Friday, with Chinese data pointing to a slowdown in its economy and a strong US Dollar index capping price moves. The official purchasing managers' index (PMI) readings from China over the weekend showed the manufacturing PMI fell to 49.2 in Octobe...Read More