Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
Prices for steel billets imported to the Philippines have jumped in the week to July 28 after Chinese buying activity inflated offer prices for mills in Southeast Asia, sources told Fastmarkets.Trading activity into the Philippines had been quiet the previous week in the face of huge Chinese demand, with just one deal for Vietnamese induction furnace (IF) billet heard done at $688 per tonne cfr Ma...Read More
The export billet trade from Iran has dried up in recent weeks amid severe production cuts at mills enforced by the shortage of electricity supply in the country, Fastmarkets heard on Wednesday July 28.Extreme heat and drought conditions have reduced water levels to the point that generation of sufficient hydro-electric power has become impossible."Mills are allowed to use electricity at nighttime...Read More
Dawei Li was appointed vice president for Asia by Canadian battery recycler Li-Cycle on Tuesday July 27, with immediate effect, Fastmarkets has heard.Li will be responsible for the company's business development and commercial lithium-ion battery recycling in the Asian market.The company is a...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More
A growing number of steelmakers cutting production in China has prompted steel mills to reduce their consumption of direct-charge iron ore - iron ore pellets and lumps, market sources told Fastmarkets.Earlier in July, several steelmakers in various regions across China told Fastmarkets that they intend to keep this year's steel output levels from exceeding last year's.Growing uncertaintyThis has c...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More
Base metals prices remained mixed on the London Metal Exchange at the 5pm close of trading on Wednesday July 28, with the month-end approaching and the market still waiting for signals of fresh direction from the US Federal Reserve bank."While we are very positive on the fundamentals [for copper] in the long term, we remain cautious in the short term due to the presence of macro headwinds," Fastma...Read More
Prices in the coking coal market in China held firm on Wednesday July 28 but climbed in the fob Australia market on increased buying interest, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $215.55 per tonne, up by $1.25 per tonnePremium hard coking coal, cfr Jingtang: $315.76 per tonne, unchangedHard coking coal, fob DBCT: $182.41 per tonne, up by 0.50 per tonneHard co...Read More
Domestic prices for heavy steel plate in Italy moved down in the week ended Wednesday July 28 due to lower slab costs and competitive imports, sources have told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?950-970 ($1,122-1,145) per tonne on July 28, down by ?,?15-20 per tonne from ?,?970-985 per tonne on July 21.The assessment was based o...Read More
German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.Salzgitter subsidiary Salzgitter Flachstahl will supply green strip steel products with a 66% reduced CO2 footprint to four German plants of Mercedes-Benz, with three factories already receiving the material, sources told Fastmarkets.The low CO2 steel grades are produce...Read More
Prices for steel hollow sections in Europe remained unchanged on Wednesday July 28 while the market heads into a slower seasonal period, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,653-1,688) per tonne on July 28, unchanged week on week."The holidays are starting in the coming days, many are holding...Read More
China's domestic and imported ferro-chrome prices were both boosted again in the week ended Tuesday July 27 after major stainless steel mills raised their August tender prices by 2,400 yuan ($369) per tonne from the previous month, to a level not seen in the past 13 years.Due to continuing supply interruptions and strong demand for material, Tsingshan announced its tender price for August-delivery...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 28.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 28 that are worth another look.German steelmaker Salzgitter has delivered green strip steel to automotive producer Mercedes-Benz, the company recently announced.The main workers union at Escondida, the world's largest copper mine, has called on its members...Read More
China's domestic and imported ferro-chrome prices were both boosted again in the week ended Tuesday July 27 after major stainless steel mills raised their August tender prices by 2,400 yuan ($369) per tonne from the previous month, to a level not seen in the past 13 years.Due to continuing supply interruptions and strong demand for material, Tsingshan announced its tender price for August-delivery...Read More
Steelmakers in India have welcomed a newly approved Production Linked Incentive (PLI) program for the specialty steel sector to encourage domestic production, new investment and reduce imports. The South Asian country's Union Cabinet, chaired by the Prime Minister Narendra Modi, on July approved the PLI program for specialty steel in a push for a self-reliant India, a policy known as "Atmanirbhar...Read More
An arbitrage between two of the world's main copper contracts has had the market chasing shadows over the week ended Wednesday July 28.On July 26, the Comex active (September) contract traded at more than $300 per tonne above London Metal Exchange price levels for the month to date, in what was a record spread between the two contracts.The massive premium came at the end of a month in which the Ch...Read More