China's domestic rebar prices moved up on Monday August 23 on strengthening demand in many parts of the country, though heavy rain continued to keep demand in a few provinces subdued. DomesticEastern China (Shanghai): 5,130-5,170 yuan ($788-794) per tonne, up by 50-60 yuan per tonneConstruction activity has increased in large parts of China, such as the eastern and northern region, on clear weathe...Read More
Spot prices for steel rebar imports into Singapore dipped in the week to Monday August 23 amid pressure on traders to offload cargoes after iron ore prices collapsed last week.Traders were offering Indian rebar at $735-740 per tonne cfr Singapore on a theoretical weight basis, down by $5 per tonne from the previous week."The Hong Kong import market has also been receiving offers at these levels,"...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Manganese ore prices at China's Tianjin port rebounded during the week to Friday August 20, supported by elevated costs and a drop in stocks after many suppliers destocked in recent weeks.Fastmarkets calculated the manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China at 34 yuan ($5.22) per dry metric tonne unit (dmtu) on Friday, up by 0.70 yuan, or 2.1%, from 33.30 yuan per dmtu...Read More
Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.In late December 2020, Tianjin Port Group passed a proposal to raise the ceiling level on storage charges for non-ferrous cargoes held at the largest port in northern China.From January 1, 2021, it announced, non-ferrous cargoes stored for lon...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
A summary of China's battery raw materials exports for July 2021, according to the latest Chinese customs data released last Friday August 20.In brief?EUR?Lithium hydroxide exports fell month on month due to a shortage in China amid lithium feedstock supply constraints coupled with strong demand from the...Read More
Australia-listed IGO Limited has announced its first lithium hydroxide chemical production at Kwinana Lithium Hydroxide Refinery in Australia, it said on Monday 23 August.On 30 June, IGO completed a joint venture deal with Chinese Lithium producer Tianqi Lithium. The joint venture is 49% owned by IGO and 51% owned by Tianqi. The refinery will improve product quality to battery grade for...Read More
The domestic hot-rolled coil market in Europe remained quiet on Monday August 23, with buyers and mills split over the price trend for September, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,143.33 ($1,337.42) per tonne on August 23, up by ?,?0.83 per tonne from ?,?1,142.50 per tonne on Friday August 20.The i...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy were broadly unchanged during the week to Friday August 20 amid low trading activity during the summer holiday slowdown.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,142.50 ($1,336.45) per tonne on Friday, down by ?,?0.63 per tonne day on day from ?,?1,143.13 per tonne. The index...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Cancellation of 44,000 tonnes of copper in London Metal Exchange warehouses kept the metal's nearby price spreads in backwardation on Monday August 23, while sentiment for LME prices turned positive after a week of selling.Some 44,475 tonnes of copper were booked for removal from the Busan, Singapore and Kaohsiung warehouses on Monday, reducing the amount of metal on-warrant to 197,750 tonnes, the...Read More