CIS steel billet export prices remained firm on Thursday September 9, supported by surging demand in China, sources told Fastmarkets.Chinese interest in imported billet increased over the past week, along with indications of workable prices from customers, on the expectation that further domestic production cuts will be imposed in China at the start of next year.And CIS billet producers were looki...Read More
Demand for steel billet and rebar was low in Egypt because buyers expected prices to decrease, sources told Fastmarkets on Thursday September 9.Rebar prices have decreased recently in many global markets, in line with falling scrap prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $660-670 per tonne on September 9, compared with $665-6...Read More
A Haywood Securities report noted that "initial 2021 reverse circulation results highlight deep value in Liberty Gold's asset portfolio." In a Sept. 9 research note, Haywood Securities analyst Geordie Mark reported that the first drill results from Liberty Gold Corp.'s (LGD:TSX; LGDTF:OTCQB) Goldstrike in Utah bode well for the project.They "demonstrate the potential to not only derisk the asset...Read More
China's domestic rebar prices increased sharply on Thursday September 9 after the news that Jiangsu will restrict steel production in the remaining months of this year.DomesticEastern China (Shanghai): 5,410-5,440 yuan ($837-842) per tonne, up by 90-110 yuan per tonne.Jiangsu province will be conducting decarbonization compliance inspections of local enterprises with high energy consumption and em...Read More
Traditional relationships between prime steel scrap and lower-grade material in key Asian markets have shattered over recent months, market sources told Fastmarkets in early September 2021.Busheling scrap - which is known as Shindachi in Japan - is a prime scrap grade generated from offcuts from the making of steel sheet-intensive products such as vehicles and white goods. Reduced output at leadin...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Germany's federal government plans to fund ?,?55 million ($65 million) for the construction of the first industrial-scale hydrogen direct-reduced iron (DRI) plant at ArcelorMittal Hamburg steelworks, the company said on September 8.The German government will provide half of the total required investment of ?,?110 million. The funding plan now must be approved by the European Commission (EC) before...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for the port operator told Fastmarkets on Thursday September 9.From September 7-9, around 140,000 tonnes of steel products and fertilizers were prevented from reaching customers, th...Read More
Road blockades throughout Brazil have disrupted transportation on important routes in five different states, with access to main steel trade hub, S??o Francisco do Sul port, cut off by truckers' demonstrations, Fastmarkets learned on Thursday September 9.The port of S??o Francisco do Sul, in Brazil's southern state of Santa Catarina, had to stop unloading ships on Wednesday September 8, two source...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
Seaborne iron ore prices fell on Thursday September 9 amid inspections by authorities in Jiangsu province, which may have prompted weakness in iron ore demand, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $130.26 per tonne, down $1.93 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.92 per tonne, down $2.37 per tonne58% Fe fines high-grade premium, cfr Qingdao: $104.92 p...Read More
China's domestic rebar prices increased sharply on Thursday September 9 after the news that Jiangsu will restrict steel production in the remaining months of this year.DomesticEastern China (Shanghai): 5,410-5,440 yuan ($837-842) per tonne, up by 90-110 yuan per tonne.Jiangsu province will be conducting decarbonization compliance inspections of local enterprises with high energy consumption and em...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
Germany's federal government plans to fund ?,?55 million ($65 million) for the construction of the first industrial-scale hydrogen direct-reduced iron (DRI) plant at ArcelorMittal Hamburg steelworks, the company said on September 8.The German government will provide half of the total required investment of ?,?110 million. The funding plan now must be approved by the European Commission (EC) before...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
A major copper industry group in Chile has presented an alternative tax reform plan to the government, amid an ongoing legislative process to tap into revenues and retain mining-related capital from the Latin American country's inland given the red metal's price recent rally. On August 31, the Chilean Center for Copper and Mining Studies (Cesco), delivered its own proposal to the Chilean Sena...Read More
Aluminium prices on the London Metal Exchange rose to a new year-to-date high of $2,848 per tonne at the start of the day on Thursday September 9 while nickel strengthened to $20,255 per tonne during an early across-the-board uptrend.Nickel's three-month price is 2.7% higher on Thursday morning than its closing price of $19,713 per tonne on Wednesday. The stainless steel additive's previous year-t...Read More