Turkish steel mills again stayed away from the deep-sea scrap market on Wednesday August 12, while finished steel prices edged lower, sources told Fastmarkets.No new deep-sea cargoes were heard on the market today, continuing a trend of silence, although falling finished steel prices are beginning to weigh on market sentiment and purchasing decisions. The price of rebar in Turkey's domestic...Read More
China's domestic rebar prices fell on Thursday August 12, with end-user demand falling away due to heavy rainfall across large parts of the country.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, down by 30 yuan per tonneHeavy rain hit a large parts of China in recent days, interrupting construction activity and disrupting the transportation of rebar from warehouses.More h...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs...Read More
Tesla, the United States-based manufacturer of electric vehicles (EVs), is implementing a blockchain solution for end-to-end cobalt traceability in partnership with Glencore, China Molybdenum (CMOC) and Eurasian Resources Group (ERG), Glencore announced in a press release dated Thursday August 12.The Re|Source blockchain platform that Tesla is piloting was founded by Glencore, CMOC and ERG, and wa...Read More
Hot-rolled coil prices in China's domestic market pulled back on Thursday August 12, with market participants shifting their focus away from expectations of a drop in supplies after weak lending data sparked concerns over liquidity.DomesticEastern China (Shanghai): 5,790-5,810 yuan ($894-897) per tonne, down by 30-50 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange moved...Read More
China's domestic rebar prices fell on Thursday August 12, with end-user demand falling away due to heavy rainfall across large parts of the country.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, down by 30 yuan per tonneHeavy rain hit a large parts of China in recent days, interrupting construction activity and disrupting the transportation of rebar from warehouses.More h...Read More
Activity in the key Bangladesh and Vietnam deep-sea import scrap markets have increased in recent days, with mills in the countries increasingly interested in bulk shipments, sources told Fastmarkets on Thursday August 12.Deep-sea bulk deal heard in VietnamBangladesh bulk inquiries pick upTaiwan spot prices start to reboundChina scrap import prices remain static amid weak demandVietnamVietnam retu...Read More
Italian domestic steel scrap prices decreased in the month to Thursday August 12 following the trend in the international markets, sources told Fastmarkets.Apart from the decline in international scrap prices, the seasonal slowdown and stoppages across the European market also contributed to the domestic price drop.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin,...Read More
Prices in the British market for steel scrap deliveries to domestic steelmakers have dropped for August 2021, snapping a run of gains in the past three months on lower demand and weaker export prices amid the seasonal summer slowdown, sources said on Thursday August 12.Prices for scrap supplied to British steelmakers were down in general by around ?5 ($7) per tonne in August, although some report...Read More
U.S. equity index futures were higher this morning. S&P 500 futures advanced 3 points in pre-opening trade.Walt Disney added $5.71 to $185.00 after reporting higher than consensus fiscal third quarter revenues and earnings. Wal-Mart added $0.41 to $149.47 after Stifel Nicolaus raised its target price from $150 to $155.Target advanced $1.18 to $263.06 after Stifel Nicolaus raised its target pri...Read More
China's stainless steel prices fell in both the domestic and export markets in the week ended Wednesday August 11 due to weakening demand and declines in nickel futures. The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,902 per tonne, down by $983 per tonne (4.9%) from $19,885 per tonne on July 30.China's domestic stainless steel fu...Read More
Battery supply chain participants have prioritized securing lithium in the second half of 2021, but nickel has also been a headache for sourcing directors, who are less concerned about cobalt supplies, a Fastmarkets survey has found.Fastmarkets conducted a survey of market participants in the battery supply chain - mainly battery materials producers -to assess which battery metals pose the biggest...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 12 that are worth another look.German steelmaker Salzgitter plans to restart its 'C' blast furnace in November this year, a company spokesman told Fastmarkets on August 12.A strike at Codelco's Andina mine in Chile will start at 8am local...Read More
A summary of Swiss long stainless steelmaker Swiss Steel Group's - formerly Schmolz + Bickenbach - financial results for the second quarter (April-June) of 2021.In brief Sales for the second quarter of 2021 rose by 72.1% year on year due to good demand from the automotive industry as well as from the mechanical and plant engineering industry.Higher stainless steel prices - primarily derived f...Read More
Battery supply chain participants have prioritized securing lithium in the second half of 2021, but nickel has also been a headache for sourcing directors, who are less concerned about cobalt supplies, a Fastmarkets survey has found.Fastmarkets conducted a survey of market participants in the battery supply chain - mainly battery materials producers -to assess which battery metals pose the biggest...Read More
Union leaders and the operating company of Chile's Escondida mine have agreed terms on a new collective bargaining agreement, potentially avoiding a proposed strike at the world's largest copper mine.In a statement reported in the Chliean daily El Mercurio, operating company Minera Escondida said: "The company and the directors of the Union No1 have concluded negotiations [on a] collecti...Read More
Spot ferro-chrome prices in China continued to correct downward after peaking at a 13-year high point at the end of July, despite the continuing output restrictions caused by power supply limitations in a number of production regions.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 400-500 yuan to 10,400-10,800 yuan ($1,603-1,665) per tonne on Tuesday...Read More
Tin's three-month price reached yet another all-time peak of $35,795 per tonne on Wednesday August 11 on the London Metal Exchange. Most other base metals, copper being the sole exception, were also up while the US Dollar Index pulled back slightly.Months-long supply tightness and continued demand for tin meant that its three-month price has risen by 70% since the start of the year, having been $2...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 11.Please click...Read More