Canadian junior miner Rock Tech Lithium plans to develop a battery-grade lithium hydroxide conversion plant in the German region of Brandenburg, it announced on Monday October 11.The company is also developing a junior spodumene project in Ontario, Canada. The total investment required for the conversion plant in Germany would be ?,?470 million ($544 million), the company said. Once operational,...Read More
The export market for flat steel product from the Commonwealth of Independent States touched the bottom during the week to Monday October 11, sources said, while suppliers' mood has turned bullish.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $800-820 per tonne on Monday, unchanged week on week.Sales of both Ukraine and Russia-origin HRC were report...Read More
Base metals prices on both the Shanghai Futures Exchange and London Metal Exchange were, for the most part, up across the board on the morning of Monday October 11, along with Asia-Pacific equities.Metals stronger despite strong US treasury yields Brent crude oil approaching $84 per barrelDisappointing US employment report may hold US Federal Reserve back and give inflation a freer hand Base metal...Read More
China will allow its floating electricity prices to rise further from October 15 to stabilize supply amid a shortage in the country, according to a notice released by the country's National Development & Reform Commission (NDRC), its top economic planner, on Tuesday October 12.Electricity supplied to the national grid is priced using a formula that comprises a base price and a floating price, acco...Read More
Tsingshan Group has set its tender price for October-delivery high-carbon ferro-chrome at 9,995 yuan ($1,550) per tonne, the Chinese stainless steelmaker said on Monday October 11.The tender price was unchanged from what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for September-delivery material, suggesting that it chose not to acknowledge a recent price surge...Read More
The two biggest ferro-alloys producers in Ukraine - Nikopol and Zaporozhye - are almost halving production of manganese alloys in October due to surging electricity prices, a source told Fastmarkets on Monday October 11.The Privat Group, which owns the facilities is shutting five of its 13 furnaces at Nikopol, cutting its monthly manganese alloys output to 35,000 tonnes, from 65,000 tonnes in Sept...Read More
Base metal prices on the London Metal Exchange remained robust during morning trading on Tuesday October 12, while power supply concerns in China and the rest of the world persist.China will allow its floating electricity prices to rise further from October 15 to stabilize supply amid a shortage in the country, according to a notice released by the country's National Development & Reform Commissio...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
Power cuts remained a prominent factor in China through the third quarter of 2021 as the world's second-largest economy grappled with soaring coal prices and its own strict limits on energy consumption - put in place to help the country achieve carbon neutrality by 2060.An increasing number of factories - especially those in energy intensive industries - have suffered from curbs to their power usa...Read More
The London Metal Exchange has registered the first sustainability disclosures on its new digital credentials register, LMEpassport, it announced on Tuesday October 12.LMEpassport is a platform register that enables a voluntary market-wide sustainable metals labelling program.Metals producers Anglo American Platinum, Antofagasta plc, Boliden, Companhia Brasileira de Alumnio (CBA), Freeport-McMoran,...Read More
Base metals prices on the London Metal Exchange were mixed at the 5pm close on Tuesday October 12 amid concerns over inflation, and rising energy costs and power outages in China.The three-month price of aluminium continued its upward momentum during Tuesday's trading, closing at $3,068 per tonne, up from $3,064 per tonne on Monday.The lightweight metal hit an intraday high of $3,114.50 per tonne...Read More
Interest in importing steel billet fell in China on Tuesday October 12 amid a fall in the country's domestic billet market on the same day, sources have told Fastmarkets.A sharp drop in ferrous futures markets in China on Tuesday due to market expectations of a rise in Chinese steel output over the short term was also accompanied by a weakening in physical markets.Local billet prices in Jiang...Read More
Base metals prices on the London Metal Exchange were mixed at the 5pm close on Tuesday October 12 amid concerns over inflation, and rising energy costs and power outages in China.The three-month price of aluminium continued its upward momentum during Tuesday's trading, closing at $3,068 per tonne, up from $3,064 per tonne on Monday.The lightweight metal hit an intraday high of $3,114.50 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
The London Metal Exchange is partnering with the digital metals trading platform Metalshub to establish a spot trading platform and marketplace, the exchange said.Initially focused on base metals, the platform will be run by Metalshub and will exist in parallel with the LME's existing derivative contracts and trading mechanisms. Users of the spot trading platform will be directed to the Metalshub...Read More
China will allow its floating electricity prices to rise further from October 15 to stabilize supply amid a shortage in the country, according to a notice released by the country's National Development & Reform Commission (NDRC), its top economic planner, on Tuesday October 12.Electricity supplied to the national grid is priced using a formula that comprises a base price and a floating price, acco...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
Chinese domestic rebar prices continued to rise on Monday October 11 after steel mills increased their list prices, but market participants remain pessimistic about demand and prices for the rest of October.Domestic Eastern China (Shanghai): 5,940-5,990 yuan ($923-931) per tonne, up by 30-40 yuan per tonneThe major eastern China producer Shagang raised its list prices for HRB400 16-25mm rebar...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
Interest in importing steel billet fell in China on Tuesday October 12 amid a fall in the country's domestic billet market on the same day, sources have told Fastmarkets.A sharp drop in ferrous futures markets in China on Tuesday due to market expectations of a rise in Chinese steel output over the short term was also accompanied by a weakening in physical markets.Local billet prices in Jiang...Read More