Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.Aluminium's price was up 5.3% on Friday from a closing price of $2,507.50 per tonne on July 1 and at its highest since April 201...Read More
Domestic and imported steel beam prices rose in the United States on Thursday July 29 after remaining flat the prior month.Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US rose to $63 per hundredweight ($1,260 per short ton) on July 29, up by 5% from $60 per per cwt in May and June and up by 20% from $52.50 per cwt on April 29.Fastmarkets' assessment for steel beams medium se...Read More
The United States Midwest aluminium premiumhit another all-time high on Friday July 30, with bullish sellers boosting their offers after a workers' strike forced Rio Tinto to cut output at its Kitimat smelter in Canada.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 33-34 cents per lb on July 30, up by 6.35% from 31-32 cents per lb on July 27.Spot activity remained quiet...Read More
Negotiations in the United States' pig iron import market became more active during the week ended Friday July 30, although buyers have insisted on much lower prices than suppliers offered.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $620-635 per tonne on Friday, down by 0.79% from $625-640 per tonne a week...Read More
Negotiations in the United States' pig iron import market became more active during the week ended Friday July 30, although buyers have insisted on much lower prices than suppliers offered.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $620-635 per tonne on Friday, down by 0.79% from $625-640 per tonne a week...Read More
Brazil's pig iron export market declined in the week ended Friday July 30, in line with lower prices globally, sources said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was at $560-570 per tonne on Friday, down by 9.24% from $620-625 per tonne a week earlier."Suppliers have no more time to wait because they have availability...Read More
Domestic prices for rebar in Poland were stable in week to Friday July 30 amid the seasonal slowdown, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 4,000-4,150 zloty ($1,036-1,075) per tonne on Friday, unchanged week on...Read More
A summary of Luxemburg-based Nexa Resources' copper, zinc, and lead ore production for the second quarter of 2021, according to results released on Thursday July 29 and a conference call on Friday July 30.In brief Nexa Resources' zinc production jumped by 30.7% year on year. The company cited renewed output from its Peruvian mines, which had been subject to government-mandated restrictions in the...Read More
Fastmarkets is launching a one-month consultation on several proposed updates to the wording of its assessment methodology. The proposed wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices but are instead intended to describe the process more clearly to increase market participants' understanding of how editorial judgment is applied. The changes are not...Read More
Precious metals mining company Sibanye-Stillwater is going to buy the Sandouville nickel hydrometallurgical processing facility from French mining group Eramet SA in a move to build on its strategy to diversify into the battery metals supply chain, the company said.The current Sandouville facilities, located in Normandy, France, include a hydrometallurgical nickel refinery with a capacity of 12,00...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
Nickel producer Talon Metals will collaborate with the United Steelworkers trade union (USW) in developing what could be the world's first carbon-negative mine, the Tamarack Nickel Project in the US state of Minnesota, it announced on Thursday July 29.Output from the future mine, co-owned with Rio Tinto, was expected to start by 2026, with initial production at a rate of 18,600 tonnes per year of...Read More
Domestic hot-rolled coil prices were stable in Northern Europe on Friday July 30 but fell in Italy, market sources told Fastmarkets.Northern European mills have either been holding back from making new offers or had limited volumes of rolling coil for the end of 2021/first quarter of 2022. Since buyers have reportedly contracted for sufficient tonnages of HRC until the end of the year, they have b...Read More
China's domestic hot-rolled coil prices rose on Friday July 30, while export prices held stable after tax authorities announced the cancellation of more steel export rebates.DomesticEastern China (Shanghai): 6,000-6,010 yuan ($929-930) per tonne, up by 60-80 yuan per tonneNorthern China (Tangshan): weekly assessment: 5,880-5,920 yuan per tonne, up by 160-190 yuan per tonne The most-traded HRC cont...Read More
Fastmarkets is launching a one-month consultation on several proposed updates to the wording of its assessment methodology. The proposed wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices but are instead intended to describe the process more clearly to increase market participants' understanding of how editorial judgment is applied. The changes are not...Read More
Spurred on by supply tightness and steady demand, the aluminium three-month price on the London Metal Exchange rose to a new 2021 high of $2,642 per tonne on July 30, while tin and nickel's three-month price, also supported by strained fundamentals, rose over 10% in July.Aluminium's price was up 5.3% on Friday from a closing price of $2,507.50 per tonne on July 1 and at its highest since April 201...Read More
Seaborne coking coal prices increased in the cfr market on Friday July 30 with more buying interest and fewer tradable resources, sources told Fastmarkets. The fob market was broadly stable on the last workday of the week.Prices for seaborne pulverized coal injection (PCI) rose in the cfr market in the week to July 30 following a strong domestic market. The fob market stayed largely stable during...Read More
Iron ore prices drop drastically on Friday July 30 with market sentiment depressed by worsening demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $181.57 per tonne, down by $14.49 per tonne62% Fe low-alumina fines, cfr Qingdao: $182.80 per tonne, down by $14.66 per tonne58% Fe fines high-grade premium, cfr Qingdao: $146.61 per tonne, down by $14.26 per tonne65% Fe Brazil-origin fines,...Read More
Steel scrap prices started to move downward in major international markets such as Turkey and the US East Coast export sector over the week ended Friday July 30, amid plentiful supply of scrap in some areas but tepid buying interest.Turkey import buy prices drop amid poor long steel salesRising scrap availability on US East Coast depresses export pricesVietnam remains out of import scrap market am...Read More
The prices of shredded steel scrap imports into Pakistan and India weakened on Friday July 30 following a drop in Turkish scrap prices, sources told Fastmarkets.Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $544.77 per tonne on Friday, down from $546.46 per tonne a week earlier.Deals were reported at $543-545 per tonne this week, down from deal...Read More