Prices of hot-rolled coil across China's domestic market fell sharply on Monday August 2, while futures prices tumbled after Beijing's latest comments on carbon emissions reductions sent confusion across the markets, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,760-5,860 yuan ($892-907) per tonne, down by 150-240 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Ex...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
Prices for domestic and imported merchant bar quality (MBQ) steel in the United States rose in July, when demand continued to outpace supply, extending lead times and depleting inventories across the supply chain.Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was $55.80 per cwt ($1,116 per ton) on Friday July 30, up by 3.72% from $53.80 per c...Read More
The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.China's National Health Commission said on Monday August 2 that there were 98 new cases reported a day earlier, including 40 cases in Jiangsu province alone. Jiangsu's capital city, Nanjing, has been reporting a hi...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
Turkish steel mills remained inactive in the import markets at the start of this week, making no new bookings of deep-sea scrap cargoes on Monday August 2, sources told Fastmarkets.But two older cargoes have come to light since the calculation of the scrap indices closed for the day last Friday.Two European cargoes were booked by mills in the regions of Marmara and Izmir, each comprising unspecifi...Read More
Glencore has purchased a 9.99% stake in junior mining company Hot Chili for A$14.4 million ($10.62 million), the latter said on Monday August 2.The agreement gives Hot Chili, which is listed on the Australian Securities Exchange and operates assets in Chile, the financing to complete a feasibility study for...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
Iron ore prices mostly went up on Monday August 2 with the Chinese government being urged to pull back its aggressive carbon-reduction measures. This resulted in improved expectations for iron ore demand, because the proposed cuts in steel production for the rest of 2021 may be eased, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $184.42 per tonne, up by $2.85 per tonn...Read More
The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.China's National Health Commission said on Monday August 2 that there were 98 new cases reported a day earlier, including 40 cases in Jiangsu province alone. Jiangsu's capital city, Nanjing, has been reporting a hi...Read More
Here are five Fastmarkets stories you might have missed on Monday August 2 that are worth another look.The rapid spread of Covid-19 infections in at least eight major cities in China is casting doubt on the recovery of steel demand in the country for the rest of 2021, market sources said.Four unions representing...Read More
Domestic hot-rolled coil prices were fairly stable across Europe on Monday August 2 due to the seasonal slowdown, market sources told Fastmarkets.In Northern Europe, buyers have been in "wait-and-see" mode while assessing price trends. They have booked sufficient volumes of coil and, therefore, were able to take a pause in their purchasing activity.Buyers also needed to evaluate effect on the mark...Read More
The price of lead reached a new year-to-date peak of $2,412.50 per tonne on Monday August 2, while nickel and copper faltered in trading on the London Metal Exchange.Lead's three-month price was at its highest on Monday for 37 months, since July 2, 2018. The metal's price was up by 0.8% from its price last Friday, hitting $2,402 per tonne at the close of trading. It had risen by 5.5% last month.Eu...Read More
Prices of hot-rolled coil across China's domestic market fell sharply on Monday August 2, while futures prices tumbled after Beijing's latest comments on carbon emissions reductions sent confusion across the markets, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,760-5,860 yuan ($892-907) per tonne, down by 150-240 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Ex...Read More
Glencore has purchased a 9.99% stake in junior mining company Hot Chili for A$14.4 million ($10.62 million), the latter said on Monday August 2.The agreement gives Hot Chili, which is listed on the Australian Securities Exchange and operates assets in Chile, the financing to complete a feasibility study for...Read More
Zinc and lead concentrate treatment charges (TCs) rose toward the end of July due to more mined tonnage hitting the market and pushing terms higher.Fastmarkets' assessment of zinc spot concentrate TC, cif China was $78-90 per tonne on Friday July 30, up from $75-88 per tonne three weeks earlier, and its highest level since last October.Terms have gradually increased since Chinese smelters took ext...Read More
Turkish steel mills remained inactive in the import markets at the start of this week, making no new bookings of deep-sea scrap cargoes on Monday August 2, sources told Fastmarkets.But two older cargoes have come to light since the calculation of the scrap indices closed for the day last Friday.Two European cargoes were booked by mills in the regions of Marmara and Izmir, each comprising unspecifi...Read More
Hydrometallurgy company Hellenic Minerals has completed the construction of a nickel sulfate hexahydrate facility in Cyprus, paving the way for initial production there.The plant in Skouriotissa, about 30km west of the island nation's capital, Nicosia, is thought to be on the site of the world's oldest copper mine. It was expected to reach output of 44,000 tonnes per year of laterite ore, containi...Read More
China's domestic rebar prices fell sharply on Monday August 2 due to market expectations of lighter production restrictions in some regions, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($804-809) per tonne, down by 140 yuan per tonneThe Politburo of the Communist Party of China's Central Committee said the country will make overall arrangements and issue a national...Read More
Glencore has purchased a 9.99% stake in junior mining company Hot Chili for A$14.4 million ($10.62 million), the latter said on Monday August 2.The agreement gives Hot Chili, which is listed on the Australian Securities Exchange and operates assets in Chile, the financing to complete a feasibility study for...Read More