Here are five Fastmarkets stories you might have missed on Monday October 12 that are worth another look.German industrial group Thyssenkrupp did not confirm speculation that it has begun a sale process for its Italian stainless steel plant, Acciai Speciali Terni (AST), when the company spoke to Fastmarkets on October 12.Aluminium...Read More
The three-month prices for zinc and lead on the London Metal Exchange were the standout performers at the close of trading on Monday October 12, with the prices of both metals climbing by just over 1% at settlement.Meanwhile, selling pressure for LME copper saw its underlying price edge lower, while forward spreads swung back into contango.Zinc's outright price on the LME closed at $2,440 per tonn...Read More
The wait time for aluminium to be delivered from Istim's London Metal Exchange-registered warehouses in Port Klang, Malaysia was still over two months at the end of September, according to the latest LME queue report, and market participants believe it has grown even longer since the start of October. The queue was 61 days for aluminium on the last day of September, according to data released on M...Read More
Lingering weakness in market sentiment continued to put downward pressure on seaborne low- and high-grade manganese ore prices in China in the week to Friday October 9.Chinese participants began to return to the market on Friday after the Golden Week national holiday on October 1-8. Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was $4.10 per dry metric tonne unit (dmtu) on F...Read More
Finland is building up Europe's next stage of battery metal evolution with Terrafame's new battery chemical plant, and trading house Trafigura is squarely in the mix. With Terrafame, Finland's government has resurrected the assets of formerly defunct Talvivaara Mining, and is shaping up to bring about the world's largest nickel sulfate plant early next year. Having initially invested in Terrafame...Read More
The latest data for the global manganese ore market for the week ended October 12, 2020.Read More
Here are five Fastmarkets stories you might have missed on Monday October 12 that are worth another look.German industrial group Thyssenkrupp did not confirm speculation that it has begun a sale process for its Italian stainless steel plant, Acciai Speciali Terni (AST), when the company spoke to Fastmarkets on October 12.Aluminium...Read More
Finland is building up Europe's next stage of battery metal evolution with Terrafame's new battery chemical plant, and trading house Trafigura is squarely in the mix. With Terrafame, Finland's government has resurrected the assets of formerly defunct Talvivaara Mining, and is shaping up to bring about the world's largest nickel sulfate plant early next year. Having initially invested in Terrafame...Read More
The ferrous scrap market in the United States is facing a downward correction in November, with unsold material from the October trade and supply exceeding demand expected to pressure prices lower in a short shipping month, sources said.Only an onslaught of export deals or an early onset of winter weather limiting flows would be able to mitigate the downside, according to sources.Scrap dealer...Read More
Turkish steelmakers went through the first working day of the week with no deep-bookings, after the downturn in the prices in last week's deals, sources said on Monday October 12.The steel producers in the country booked three deep-sea cargoes late last week after achieving lower prices.The most recent purchases pitched the price for HMS 1&2 (80:20) grade at $283 per tonne cfr for US material on O...Read More
Domestic ship scrap prices in Turkey have gone down over the past week in line with weakening imported scrap values, but local auto bundle scrap prices were mostly stable, sources said on Monday October 12.In response to the downturn in the costs of imported scrap, the steel producers in the Izmir region - namely ID??, Habas, ?-zkan and Ege ??elik - reduced their buy prices for ship scrap by $5 pe...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Monday October 12, but sentiment has turned more bullish, especially in aluminium, since China returned from its Golden Week holiday. Expectations for extra stimulus in the United States have kept equities buoyant. China's markets underpinned by steady recovery and by the fact it appears to have...Read More
Finland is building up Europe's next stage of battery metal evolution with Terrafame's new battery chemical plant, and trading house Trafigura is squarely in the mix. With Terrafame, Finland's government has resurrected the assets of formerly defunct Talvivaara Mining, and is shaping up to bring about the world's largest nickel sulfate plant early next year. Having initially invested in Terrafame...Read More
A summary of Australian spodumene concentrate producer Pilbara Minerals' results for the third quarter of 2020, as stated in its operational report on Monday October 12.In brief Production of spodumene concentrate at the company's Pilgangoora Lithium-Tantalum project, in Western Australia, increased by more than 80% quarter on quarter to 62,404 dry metric tonnes (dmt) in the July-September quarter...Read More
Cobalt prices and payables held steady in the first full week of October trading, with sellers holding out to sell higher while waiting for further cues on intermediates restocking from China after the country's October 1-8 Golden Week holiday.Fastmarkets' cobalt hydroxide indicator, min 30% Co stood at 77.5-78.5% last Friday October 9, unchanged since September 23, while the cobalt hydroxide inde...Read More
Domestic prices for steel hot-rolled coil across Europe inched upward over the week to Friday October 9, although the momentum of the price changes slowed with buyers mainly in "wait-and-see" mode.Fastmarkets calculated its daily steel HRC index, domestic, exw Northern Europe, at ?,?493.50 ($583.43) per tonne on October 9, up by ?,?2.47 per tonne week on week and by ?,?17.25 per tonne month on mon...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil (HRC) moved sharply higher in September, in line with our expectations, but the magnitude of the rise exceeded our predictions. Domestic HRC prices averaged $566 per ton in September, exceeding our $540 per ton forecast price.A c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US domestic prices for hot-rolled coil (HRC) moved sharply higher in September, in line with our expectations, but the magnitude of the rise exceeded our predictions. Domestic HRC prices averaged $566 per ton in September, exceeding our $540 per ton forecast price.A c...Read More
The domestic steel rebar price in Russia's Central Federal District around Moscow was unchanged in the week to Monday October 12, while local producers are considering new increases for November, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was at 40,000 roubles ($521) per tonne on October 12, including 20% VAT,...Read More
China's domestic rebar prices surged on Monday October 12 after local authorities in the country's steel hub of Tangshan in the northern region confirmed steelmaking restrictions for the next six months.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($554-558) per tonne, up by 50 yuan per tonneA total of 28 out of 30 steel mills in Tangshan are required to cut their blast furnace operating rat...Read More