The latest forecasts from Fastmarkets' team of analysts are ready to view.The seamless pipe market continued its rise over the past month across most products and geographies. Sharp price increases of $135-140 per tonne were seen for oil country tubular goods (OCTG) and line pipe in the United States. In Europe and in the Middle East, increases were more modest, with the exception of a few product...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The seamless pipe market continued its rise over the past month across most products and geographies. Sharp price increases of $135-140 per tonne were seen for oil country tubular goods (OCTG) and line pipe in the United States. In Europe and in the Middle East, increases were more modest, with the exception of a few product...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
With the CPI annual inflation rate spiking 5% in May, gold could have gained a lot in response. However, it rallied only $20. Should we prepare for more?Whoa! Inflation soared 5% in May – quite a lot for a nonexistent (or transitory) phenomenon! But let’s start from the beginning. The CPI rose 0.6% in May, after increasing 0.8% in April. Meanwhile, the core CPI, which excludes food and...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
The halfway point of the year is quicklyapproaching. Dwindling confidence and concern over the direction of the countryalong with rising inflation expectations continue to drive strong demand for physical gold and silver. Thattrend appears set to continue through the second half of 2021.Here are a few big stories with thepotential to drive bullion buying in the months ahead. Federal Reserve May Be...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
The Italian steel distributors association, Assofermet, is calling for the complete removal of safeguard measures in Europe to protect steel users and consumers from the effects of the record high prices currently seen in the market. The association demanded the removal of the import controls on 26 steel products after the European Commission proposed extending the current measures for another thr...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 16.Please click...Read More
Turkish steel billet prices in local and export markets have increased this week on improving demand, while imported billet prices narrowed downward, market participants said on Thursday June 17.Turkish market participants were expecting prices to increase for billet because of high scrap prices.Scrap prices decreased during the week, but the price falls were not sharp.Fastmarkets' daily index for...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More
Joseph Carrabba, formerly chairman, president and chief executive officer of Cleveland-Cliffs, has been named CEO of ElementUS Minerals, the company has said.Carrabba was at Cleveland-Cliffs, at one point known as Cliffs Natural Resources, from 2005 to 2013. Prior to this, he had spent more than 20 years in executive leadership at Rio Tinto, holding positions in its North American, Australian, Asi...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
Iron ore prices went up on Thursday June 17, supported by improved liquidity in the physical markets, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $220.82 per tonne, up $6.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $222.01 per tonne, up $5.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $188.48 per tonne, up $3.56 per tonne65% Fe Brazil-origin...Read More
China's domestic rebar prices continued dropping on Thursday June 17, but the pace of the decline was much slower after a pick-up in futures values driven by market participant expectations of a fall in supplies.DomesticEastern China (Shanghai): 4,970-5,000 yuan ($773-778) per tonne, down by 10 yuan per tonneThe Work Safety Commission of China's State Council has sent teams to steel mills to check...Read More