China imported 88,218 tonnes of ferrous scrap in July, a 16% increase from June, according to the latest Chinese customs data.Of the total, 66,096 tonnes - or 74.92% - originated in Japan.South Korea remained China's second-largest scrap supplier in July, accounting for 14,464 tonnes (16.4%) of imports.Taiwan (3,590 tonnes; 4.07%) and Hong Kong (1,214 tonnes; 1.38%) were other significant sources...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
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.JD.com added $2.20 to $245.80 after the company reported higher than consensus second quarter revenues. General Motors slipped $0.28 to $48.52 after the company announced a charge in excess of $1 billion to cover the cost of a recall of its Volt cars.Trillium Therapeutic (TRIL.TO Cdn$7.81...Read More
Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
The provincial government of Liaoning in northeastern China has approved a merger between Anshan Iron & Steel (Angang) and Benxi Iron & Steel (Bengang), according to a notice released by the latter's listed arm, Bengang Plate, on Thursday August 19.The owner of Bengang - Liaoning's State-owned Assets Supervision & Administration Commission - will transfer a 51% controlling stake in the steelmaker...Read More
Key data from Fastmarkets' pricing sessions in Europe, China and the United States on Friday August 20.ChinaGeneral sentiment on the ferro-silicon price in China was stable while Ningxia, a small autonomous region in north-central China, continues to tighten controls on ferro-silicon production and suppliers' offers were broadly steady. Export prices have not changed much over the past w...Read More
Nickel and copper were up by 1% and above in the LME morning session on Friday August 20, with most base metals bouncing back from Thursday when all prices declined. A higher US Dollar Index - which touched a new year-to-date peak of 93.65 on Friday morning - and renewed concerns about demand due to the ongoing spread of the Covid-19 Delta variant were key factors behind Thursday's price falls.&nb...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 20.Susan Zou, Yingchi Yang and...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) index is currently at its highest level since April 2019.Treatment charges of October cargoes were reportedly sold to smelters in the range of $58-62 per tonne this week, roughly equivalent to the 2021...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 20.Susan Zou, Yingchi Yang and...Read More
Global aluminium prices and premiums have been on a near-vertical uptrend, touching record highs along the way, with consumers of aluminium in various sectors finding ways to absorb and pass on the increasing costs.Managing high raw material costs has become a key theme in quarterly earnings reports and in conference calls for manufacturing companies throughout the summer months of 2021. Despite h...Read More
Short-covering activity helped some base metals prices on the LME end the week on a higher note at the end of trading on Friday August 20, but it was not enough to offset the losses seen after Thursday's sell-off.Copper's three-month price was $9,037 per tonne at 5pm on Friday, up 1.6% on Thursday's $8,894 per tonne, with the 200 daily moving average (DMA) acting as key support at $8,843 per...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More