Lithium prices in Europe and the United States rose during the week to Thursday July 8, while the China domestic market was broadly stable, with the rally of the recently launched lithium carbonate contract on the Wuxi Stainless Steel Exchange having a minimal impact on the physical market.Availability of technical-grade lithium remains tight in Europe and the US amid lingering logistic delays, su...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesJune 21, 2021: 120 tonnes (5 tonnes each month from January to December 2022, all at $23 per lb; 5 tonnes each month from January to December 2023, all at $24.25 per lb)June 24, 2021: 60 tonnes (5 tonnes...Read More
Domestic prices for hot-rolled coil in Europe were relatively stable on Friday July 9 due to slow buying activity, sources told Fastmarkets.Market sources believed that the price fluctuations during the week have not been indicative of a trend change, but mainly reflected the uncertainty among buyers in the market with a limited number of offers.Buyers have been holding back from making new deals...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices remained stable in Turkey during the week to Friday July 9 due to upcoming holidays, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-23 will be the Eid al-Adha holidays so buyers preferred to postpone bookings.Domestic pricesFastmarkets' weekly price assessment for steel HDG coil domestic, exw Turkey was unchanged...Read More
Domestic steel rebar prices in Poland were broadly flat in the week to Friday July 9, with market activity slowing down on seasonal factors, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 4,050-4,100 zloty ($1,054-1,067) per tonne on Friday, the same as last week.The assessment was based on deals, offers and achievable prices rep...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
London Metal Exchange base metal futures barring tin traded higher on Friday July 9 after the market responded to news that China's central bank will boost liquidity to small and medium sized businesses.The People's Bank of China said it would reduce the Reserve Requirement Ratio (RRR), the amount of cash banks have to hold in reserve, by 0.5%, equivalent to the release of a trillion yuan ($154 bi...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
Key data from Fastmarkets' Friday July 9 pricing sessions in Europe, China and the United States.China The export ferro-silicon market was stable over the week, with few inquiries or deals made. Overall, market participants took a strong wait-and-see attitude to the steel mill tender in July. Spot availability is still quite tight...Read More
Domestic steel wire rod producers in Poland have nearly completed July bookings and are yet to quote for August, with prices to be rolled over despite the seasonal buying slowdown, sources told Fastmarkets on July 9.Domestic steel wire rod producers in Poland have nearly completed July bookings and are yet to quote for August, with price rollover expected despite the seasonal buying slowdown, sour...Read More
China's domestic rebar market ended the week with increased prices in both eastern and northern regions, though prices were stable on Friday July 9.DomesticEastern China (Shanghai): 5,020-5,050 yuan ($775-780) per tonne, unchangedNorthern China (Beijing) weekly assessment: 4,950-4,990 yuan per tonne, up by 170 yuan per tonneEastern rebar prices halted their rise on Friday due to weak demand but pr...Read More
Activity in the market for pig iron exports from Brazil was at a standstill in the week to Friday July 9, but local demand for such material was strong, sources have told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620-625 per tonne on Friday, stable week on week.Suppliers in the south of Brazil were heard to be inactive as regards...Read More
Global scrap prices broadly fell over the week to Friday July 9. Spot demand in Asia remained weak, with buyers looking at lower Turkish steel scrap prices for indications of better buying opportunities in the future.Turkey resumes deep-sea importsPrime grades perform best in USVietnam demand soft but billet demand could offer hopeChinese price uptrend capped by production cutsTaiwan continues to...Read More
The inter-merchant light iron scrap market in the United Kingdom was unchanged this week although increased demand could result in small price rises in the coming weeks, participants told Fastmarkets on Friday July 9.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?175-190 ($241-262) per tonne on Friday, unchanged since June 18...Read More
The introduction of a Russian export duty on steel products carries serious risks for the country's steel industry, Russia's steel association Russkaya Stal warned last week.The duties, which cover 340 metal products, will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate for each product.The measures will inevitably cut the profitability of steel...Read More
Prices in the CIS export billet market improved some more by the end of the week. Offers were mainly coming from Ukrainian mills, while Russian producers preferred to stay away from the market assessing the situation with export duty introduction in August.The duties will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate of $115 per tonne for stee...Read More
Expectations of cuts to steel production across China in the second half of 2021 have fueled the country's eager return to the steel billet import market this week, sources told Fastmarkets on Friday July 9.Numerous Chinese steelmakers were now expected to reduce output in the second half of the year, with China's authorities targeting 2021 steel production below last year's total of 1.07 billion...Read More
The price of cold-rolled stainless steel in Europe increased further this past week due to the severe material shortage that has been ongoing, sources told Fastmarkets on Friday July 9.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered north Europe was ?,?3,600-3,650 ($4,257-4,316) per tonne on Friday, up by ?,?150 from ?,?...Read More
China's domestic rebar market ended the week with increased prices in both eastern and northern regions, though prices were stable on Friday July 9.DomesticEastern China (Shanghai): 5,020-5,050 yuan ($775-780) per tonne, unchangedNorthern China (Beijing) weekly assessment: 4,950-4,990 yuan per tonne, up by 170 yuan per tonneEastern rebar prices halted their rise on Friday due to weak demand but pr...Read More
The introduction of a Russian export duty on steel products carries serious risks for the country's steel industry, Russia's steel association Russkaya Stal warned last week.The duties, which cover 340 metal products, will apply from August 1 through to December 31 and have a base rate of 15%, with a specific minimum rate for each product.The measures will inevitably cut the profitability of steel...Read More