Spot trading for hot-rolled coil in China stagnated in the afternoon of Thursday October 21 after the continued tumble in futures prices kept market participants cautious.DomesticEastern China (Shanghai): 5,710-5,750 yuan ($892-898) per tonne, narrowing by 10-30 yuan per tonneSpot HRC was traded at 5,710-5,750 yuan per tonne in Shanghai on Thursday morning, when the most-traded HRC contract on the...Read More
China's domestic rebar prices decreased on Thursday October 21 on weaker demand amid plunging futures. Domestic Eastern China (Shanghai): 5,630-5,680 yuan ($881-888) per tonne, down by 60-70 yuan per tonneChina's biggest thermal coal producer, China Energy Investment Corp (China Energy), said during the day that it would raise production and lower prices. This led to thermal coal futures falling t...Read More
Domestic alumina prices in China continued to climb in the week to Thursday October 21, with new transactions being made on an as-needed basis, Fastmarkets has heard.Fastmarkets' weekly price assessment for alumina, metallurgical grade, exw China, was 3,900-4,150 yuan ($610-649) per tonne on Thursday, up by 100-150 yuan per tonne from 3,800-4,000 yuan last week.Alumina prices have now reached a 13...Read More
A top European pension fund has sold its interest in Swiss commodity trader and miner Glencore, citing sustainability risks, including cobalt production in Africa. A major global pension fund, ABP announced that it has sold its shares in mining/trading firm Glencore on Friday October 15. "ABP has sold its interest in Glencore. The mining company faces...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.The government of the United...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.The government of the United...Read More
Cobalt sulfate prices have trended upward since early September this year due to continuously higher raw materials costs and the rising cost of chemical auxiliary materials despite thin downstream demand, sources told Fastmarkets.Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price was assessed at 89,000-93,000 yuan ($13,914-14,539) per tonne on Wednesday October 20,...Read More
United States-listed lithium producer Albemarle has signed an investment agreement with the local government of Pengshan Economic Development Zone in Meishan city, Sichuan Province to invest in a new lithium-ion battery materials project, the local government said.Albemarle will invest $500 million in the new battery materials project.The project will have an annual capacity of 50,000 tonnes of li...Read More
Buyers in Taiwan continued to purchase containerized scrap cargoes at higher prices on Thursday October 21 amid bullishness in the spot market, sources said. Taiwan continues to book containerized cargoes at higher prices Spot prices in China edge down amid losses in finished steel futures Tokyo Steel announces another rise in domestic scrap purchase priceTaiwanTaiwanese buyers continued to secur...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 21 that are worth another look.Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.The government of the United...Read More
Fastmarkets has modified the name of one of its Japan steel scrap export prices to clarify the exact grade being assessed in the market.In Japan, prime scrap is referred to as Shindachi, which comprises Shindachi Bara, an unpressed new production busheling scrap that is the most commonly traded prime scrap in the Japan's export market, and Shindachi press bundle, which is more commonly traded in t...Read More
Spot trading for hot-rolled coil in China stagnated in the afternoon of Thursday October 21 after the continued tumble in futures prices kept market participants cautious.DomesticEastern China (Shanghai): 5,710-5,750 yuan ($892-898) per tonne, narrowing by 10-30 yuan per tonneSpot HRC was traded at 5,710-5,750 yuan per tonne in Shanghai on Thursday morning, when the most-traded HRC contract on the...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More
Market participants were aloof following the London Metal Exchange's recent measures imposed to rein in the spike in copper spreads, but backwardations have eased, as the Exchange intended.The LME imposed a series of temporary rules on copper trading on Tuesday October 19. The measures included a limit on tomorrow/next spread orders of higher than 0.5% of the previous day's cash price and a requir...Read More
Rio Tinto will invest $7.5 billion to reduce emissions and meet its carbon targets earlier than planned, the company announced on Wednesday September 20.Following more ambitious climate targets by governments, Rio Tinto is revising its emissions reduction targets. Its new target is to reduce its Scope 1 & 2 carbon emissions of the greenhouse gas (GHG) Protocol by 50% by 2030, more than triple...Read More
Cobalt sulfate prices have trended upward since early September this year due to continuously higher raw materials costs and the rising cost of chemical auxiliary materials despite thin downstream demand, sources told Fastmarkets.Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price was assessed at 89,000-93,000 yuan ($13,914-14,539) per tonne on Wednesday October 20,...Read More
The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More
Freeport-McMoRan's new Indonesian copper smelter will not be subject to export duties, the US copper producer said.The new greenfield smelter, currently delayed by Covid-19, is to be located in Gresik, Indonesia, and will have the capacity to process around 1.7 million tonnes of copper concentrate per year.The same applies to the company's precious metals refinery (PMR), which will process gold an...Read More
Base metal prices on the London Metal Exchange were down across the board at the 5pm close of trading on Thursday October 21, with market participants beginning to sell off material following the recent price rally.The three-month aluminium price fell by 5.2% to $2,910 per tonne on Thursday, down from $3,069.50 per tonne at Wednesday's 5pm close after trading in large volumes and more than 34,180...Read More