Commodities merchant IXM, wholly owned by China Molybdenum Co Ltd (CMOC), is close to announcing its acquisition of warehousing and logistics firm Access World from Glencore, people familiar with the matter told Fastmarkets.The situation is still fluid - there are other bidders for the business - but a deal is expected to be announced imminently, the people said. Glencore, which declined to commen...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price movesDalila Ouerghi and...Read More
Steel hot-rolled coil prices in Europe remained largely flat on Thursday August 26 in typically slow summer trading conditions, while buyers and mills attempted to gauge the market direction for September.Market participants in Northern Europe have been returning to the market after holidays but trading in the region remained limited. Buyers were cautious about making new deals, expecting prices t...Read More
Hot-rolled coil prices in the United States rose to nearly $97 per hundredweight ($1,940 per short ton), with market participants projecting that a flurry of planned mill closures for maintenance will extend the rally.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.83 per cwt ($1,936.60 per ton) on Thursday August 26, up by 1.59% from $95.31 per cwt on Wednesday A...Read More
Base metals prices on the London Metal Exchange were weaker on the morning of Thursday August 26, although for the most part they seem to be consolidating after recent volatility. Asian-Pacific equity indices mainly weaker this morning while broader markets focus on Friday's United States Federal Reserve Jackson Hole symposium More companies report that supply shortages are affecting their ability...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Most base metals prices on the London Metal Exchange fell during morning trading on Thursday August 26 ahead of the Jackson Hole symposium, with aluminium stock being delivered into Port Klang while warrant cancellations for large quantities of copper continued for a fourth day. Lead's three-month price, for example, was down by 1.6% at 9am on Thursday, at $2,281.50 per tonne. This compares with a...Read More
Japanese lower-grade scrap prices are facing renewed pressure, and Shindachi busheling prices have continued to be propped up in recent weeks by reduced generation at automaker Toyota, sources told Fastmarkets.Key Japanese mills reduce some scrap bid pricesGaps between bids and offers narrow downward with lower cost scrap emerging in the Chinese marketTaiwan imported containerized scrap prices edg...Read More
A summary of Chinese battery materials producer GEM's financial and production results for the six months ended June 30, 2021, as released by the company on Thursday August 26.In brief GEM's annual capacity of ternary precursor materials totaled 130,000 tonnes at the end of June, unchanged from the end of last year. The company has shifted production focus to nickel-rich ternary precursor material...Read More
A summary of Australian spodumene concentrate miner Pilbara Minerals' annual results for the year ending June 30 2021.In brief The company posted positive earnings before interest, taxes, depreciation and amortization (Ebitda) of $21.4 million in financial year (FY) 2021, compared with a $33.9 million loss in Ebitda in 2020....Read More
Iranian export prices for steel billet continued to decrease in the week to Wednesday August 25 amid the general global downtrend, Fastmarkets heard.Steel output from the country's mills was expected to improve in September, when the weather will be less hot and mills will be allowed a more generous allocation of electricity to be used for steelmaking.For the moment, Iranian producers had to cut p...Read More
Billet prices in Turkey have gone down over the past week thanks to falling imported scrap costs and limited demand, market participants told Fastmarkets on Thursday August 26.Turkish steel producers' demand for imported scrap has been limited in recent weeks.The most recent deep-sea scrap trade was recorded on Wednesday August 25, when a steel mill in the Iskenderun region booked a Belgian cargo...Read More
Steel hot-rolled coil prices in Europe remained largely flat on Thursday August 26 in typically slow summer trading conditions, while buyers and mills attempted to gauge the market direction for September.Market participants in Northern Europe have been returning to the market after holidays but trading in the region remained limited. Buyers were cautious about making new deals, expecting prices t...Read More
The striking workers union at Caserones said that it was prepared for a "lengthy strike" on Wednesday August 25, after rejecting Minera Lumina Copper Chile's latest wage offer. 96% of members of the workers union at Caserones rejected the company's latest wage offer to the union and criticized the company for "presenting a new offer without first having talks". The union noted that it hopes t...Read More
A summary of Chinese battery materials producer GEM's financial and production results for the six months ended June 30, 2021, as released by the company on Thursday August 26.In brief GEM's annual capacity of ternary precursor materials totaled 130,000 tonnes at the end of June, unchanged from the end of last year. The company has shifted production focus to nickel-rich ternary precursor material...Read More
Base metals prices on the London Metal Exchange performed well during the day but largely failed to hold momentum by 5pm on Thursday August 26, despite reaching intraday highs above Wednesday's closing levels.The aluminium three-month contract hit $2,639 per tonne during Thursday's trading, just $3 per tonne below its latest year-to-date high of $2,642 per tonne from July 30.It was the most traded...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Commodities merchant IXM, wholly owned by China Molybdenum Co Ltd (CMOC), is close to announcing its acquisition of warehousing and logistics firm Access World from Glencore, people familiar with the matter told Fastmarkets.The situation is still fluid - there are other bidders for the business - but a deal is expected to be announced imminently, the people said.Glencore, which declined to comment...Read More
China's domestic stainless steel prices were down on Wednesday August 25 compared with a week earlier, but the market had picked up after experiencing losses earlier this week.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,200-18,600 ($2,810-2,871) per tonne, down by 600-700 yuan per tonne from a week earlierThe three-month nickel contract on the London Metal Exchange e...Read More
Seaborne premium hard coking coal and hard coking coal prices in the cfr market both increased by over $16 per tonne on Thursday August 26, with rising offer prices and market expectations.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.93 per tonne, up $17.09 per tonneHard coking coal, cfr Jingtang: $385.67 per tonne, up $20.36 per tonnePremium hard coking coal fob DBCT: $243.98 p...Read More