Iron ore prices largely went up on Tuesday July 13 after China's June imports data was released and with relatively low shipments from Australia.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.48 per tonne, up by $0.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $221.46 per tonne, up by $0.86 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.66 per tonne, down by $2.73 pe...Read More
Futures prices for nickel, aluminium and tin were higher at the 5pm close on July 13 on the London Metal Exchange, despite a spike in the United States Dollar Index after the release of US consumer price index readings. Aluminium's three-month price was the best performer on the LME on Tuesday, with a 1.8% gain on Monday's price to $2,535.50 per tonne. Over 15,000 lots of aluminium were traded by...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Due to a reporter error, the United States tin premiums for Tuesday July 13 were published in Fastmarkets' price book five minutes later than the scheduled time of 3pm GMT.Fastmarkets' fortnightly assessment of the tin, 99.85% ingot premium, in-whs Baltimore, and the tin grade A min 99.85% ingot premium, ddp Midwest US, were published at 3.05pm on Tuesday.For more information, or to provide feedba...Read More
Prices in the British market for steel scrap deliveries to domestic steelmakers have increased for the third straight month, sources said on Tuesday July 13.They cited tight supplies, notably from arisings in car production, and steady exports into deep-sea markets, with unusually strong demand from the United States.Suppliers have agreed on a general increase of ?5 ($7) per tonne for scrap, alth...Read More
Widespread violence and looting have triggered declarations of force majeure at ports in South Africa's KwaZulu-Natal, threatening to stall exports of chrome and manganese.Transnet, the South African national logistics service, declared force majeure on Monday July 12 for operations at the ports of Durban and Richards Bay.The violence "has now reached proportions beyond the control of the local la...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
China's central bank is freeing up 1 trillion yuan ($154 billion) via a reduction of banks' reserve requirement ratio (RRR) - the amount of cash that these institutions must have in their reserves - to support the Chinese economy.But not all sectors will reap the benefits of the measure, market sources told Fastmarkets.The People's Bank of China said last Friday July 9 that the RRR for commercial...Read More
Magnitogorsk Iron & Steel Works' (MMK) Metalurji subsidiary in Turkey has started trial production of hot-rolled coil, the Russian company announced on Monday July 12.Located in the Iskenderun region, the mill halted operations at its meltshop and compact strip mill in late 2012. "The current situation allows us to resume operations at the electric-arc furnace facility, which is a very important...Read More
Chinese automobile production and sales continued to decline in June - both month on month and year on year - amid a sustained global shortage of semiconductors, the China Association of Automobile Manufacturers (CAAM) said last week.But the new energy vehicle (NEV) segment continued to strengthen last month, with sales notching a new record high.China's NEV output increased by 14.3% from May to 2...Read More
China's domestic rebar prices decreased on Tuesday July 13 amid weak demand caused by unfavorable weather.DomesticEastern China (Shanghai): 5,080-5,100 yuan ($784-787) per tonne, down by 70-100 yuan per tonneHigh temperatures in eastern and southern China and heavy rain in northern China disrupted construction activity and sapped demand for rebar.Such adverse weather...Read More
Due to a reporter error, the United States tin premiums for Tuesday July 13 were published in Fastmarkets' price book five minutes later than the scheduled time of 3pm GMT.Fastmarkets' fortnightly assessment of the tin, 99.85% ingot premium, in-whs Baltimore, and the tin grade A min 99.85% ingot premium, ddp Midwest US, were published at 3.05pm on Tuesday.For more information, or to provide feedba...Read More
US silver miner Hecla reported an increase in lead production during the second quarter as its Lucky Friday mine continues its first full year of commercial production in many years.The company's lead production of 11,541 tonnes in the second quarter was a 29% gain on the same period in 2020. The Lucky Friday mine resumed full production late...Read More
Leading aluminium producer Rusal will begin to supply its low-carbon aluminium ALLOW product to Aluminium Rheinfelden from August 2021, it announced on Tuesday July 13.Aluminium Rheinfelden is one of Germany's leading manufacturers of aluminium alloys, semi-finished products and carbon-based components. It was acquired by Rusal in April 2021.Rusal's bespoke brand of low-carbon aluminium, ALLOW, ha...Read More
Shandong, China-based copper smelter Yantai Guorun has started repairs and maintenance work on one of its furnaces after an accident over the weekend, several market sources told Fastmarkets. The unplanned repairs and maintenance work will last for around one month, but the company's copper production has not been affected so far, with the company holding anode stocks for cathode conversion, sourc...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia moved both up and down during the week ended Tuesday July 13 because of global price fluctuations, with market activity soft during the week before the Eid al-Adha religious holiday, sources told Fastmarkets.The Islamic Eid al-Adha holiday was expected to start next week.HRC prices from China have been decreasing recently as w...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 13 that are worth another look.European steel association Eurofer has called for the Carbon Border Adjustment Mechanism (CBAM) and the EU Emissions Trading System (ETS) to be balancing mechanisms without any further reductions in free...Read More
Junior miner Lithium Americas has joined Chinese major Ganfeng Lithium in investing in Arena Minerals, an exploration-stage lithium brine company, it said on Monday July 12.Lithium Americas has entered into an agreement to acquire about 12.9% of the issued and outstanding shares of Arena Minerals, worth $4.8 million, it said."We look forward to working with Arena Minerals and Ganfeng to support th...Read More
Increasing scrap usage was deemed to be a key step the road map of decarbonization of Chinese steel industry, Li Xinchuang, the Vice Chairman of China Iron & Steel Association (Cisa) said on Tuesday July 13."It is important that we increase supply of scrap in the local market. We expect the share of electric-arc furnaces (EAFs) in Chinese steelmaking to increase from 10% to more than 15% in 2025,"...Read More
Prices in the British market for steel scrap deliveries to domestic steelmakers have increased for the third straight month, sources said on Tuesday July 13.They cited tight supplies, notably from arisings in car production, and steady exports into deep-sea markets, with unusually strong demand from the United States.Suppliers have agreed on a general increase of ?5 ($7) per tonne for scrap, alth...Read More