Hot-rolled coil trading activity in the European market remained limited on Tuesday August 17 due to the seasonal slowdown, sources told Fastmarkets.Most of the region's buyers and producers have been holding back from trading during August; activity is not expected to revive until early September, following the traditional cycle.Northern European buyers have already started to slowly return to th...Read More
Turkish steel producers are continuing with deep-sea scrap purchases for September shipment, but at a slow pace, market participants told Fastmarkets on Tuesday August 17.A steel mill in the Izmir region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $449 per tonne cfr late on Monday August 16.The cargo was scheduled to be shipped in the second half...Read More
Demand for steel rebar and billet remained limited in the United Arab Emirates in the week to Tuesday August 17, with prices already falling and some market participants expecting them to drop even further, sources told Fastmarkets.The lower prices for billet and rebar imports are expected to have a knock-on effect on the domestic market, where prices are also expected to decline because of weak d...Read More
Turkish steel producers are continuing with deep-sea scrap purchases for September shipment, but at a slow pace, market participants told Fastmarkets on Tuesday August 17.A steel mill in the Izmir region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $449 per tonne cfr late on Monday August 16.The cargo was scheduled to be shipped in the second half...Read More
Robust domestic prices in the Japanese steel scrap market were keeping prices for material from the East Asian country strong despite tepid demand from major importers, sources told Fastmarkets on Tuesday August 17.Japanese local scrap prices remain firmBuying interest for imported HS limited in ChinaTaiwan scrap import prices inch higher amid strong offers.JapanContinued robust demand in Japan's...Read More
Demand for steel rebar and billet remained limited in the United Arab Emirates in the week to Tuesday August 17, with prices already falling and some market participants expecting them to drop even further, sources told Fastmarkets.The lower prices for billet and rebar imports are expected to have a knock-on effect on the domestic market, where prices are also expected to decline because of weak d...Read More
A spike in the US Dollar Index in the afternoon of Tuesday August 17 brought down the prices for all base metals except tin and lead by the 5pm close of trading on the London Metal Exchange, with copper and nickel down respectively by 2% and 1.6%.The dollar index hit an intraday high of 93.14 on Tuesday, the highest since Thursday last week, when it reached 93.19."We've had two days of macro uncer...Read More
US-listed lithium producer Albemarle is in formal negotiations with the Albemarle Salar Workers Union in an attempt to end their strike, the company's spokesperson has told Fastmarkets.The strike by members of the trade union at the Salar de Atacama lithium facility in the north of Chile started on Wednesday August 11 and was still continuing this week.FESUMIN, a Chilean federation of miners who w...Read More
Glencore has started a long-term strategic partnership with Britishvolt, a UK-based investor in lithium-ion battery cell technologies and associated research and development, Glencore said on Tuesday August 17.The Switzerland-based trader-producer will supply responsibly sourced cobalt to the Btitish company, but it did not disclose the amount of cobalt to be committed."This is a huge step in the...Read More
A summary of China-headquartered Huayou Cobalt's results for the six months ended June 30, 2021, as released by the company on Monday August 16.January-June 2021 results(year-on-year change)Revenue 14.29 billion yuan ($2.21 billion), up by 57.91%Net profit 1.42 billion yuan,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
Prices for hot-rolled and cold-rolled steel coil imports into the United Arab Emirates and Saudi Arabia increased during the week ended Tuesday August 17, although demand was only moderate, sources told Fastmarkets.The reason for this level of demand, given the slow market last week, was the low levels of stock being held in the two countries, sources said.But buyers preferred to make small bookin...Read More
A third trade union representing workers at Codelco's Andina copper mine has gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said.A third trade union representing workers at Codelco's Andina copper mine have gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said. Suplant joined Industrial Integration Labor...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
A third trade union representing workers at Codelco's Andina copper mine has gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said.A third trade union representing workers at Codelco's Andina copper mine have gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said. Suplant joined Industrial Integration Labor...Read More
A spike in the US Dollar Index in the afternoon of Tuesday August 17 brought down the prices for all base metals except tin and lead by the 5pm close of trading on the London Metal Exchange, with copper and nickel down respectively by 2% and 1.6%.The dollar index hit an intraday high of 93.14 on Tuesday, the highest since Thursday last week, when it reached 93.19."We've had two days of macro uncer...Read More
A third trade union representing workers at Codelco's Andina copper mine has gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said.A third trade union representing workers at Codelco's Andina copper mine have gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said. Suplant joined Industrial Integration Labor...Read More
Operations have been temporarily halted in Alashankou Port in Bortala Mongol autonomous prefecture, Northwest China's Xinjiang Uygur autonomous region, following reports of three new COVID-19 cases in the region on August 15.Commodities that have already arrived there, including copper cathodes, copper concentrates, refined zinc and zinc concentrates, are being held, and deliveries will be delayed...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More