Base metals rallied in morning trading on Wednesday July 7 with copper leading the pack higher.At $9,495 per tonne the LME three-month copper contract was up 1.96% from Tuesday's 5pm close."Yesterday, we said the metals were looking more upbeat because copper had broken higher, but given the weakness seen yesterday, the market looks a bit flighty, so we will wait to see if the dip buying pushes co...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 23.85-24.50 on Wednesday July...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The National Development and Reform Commission (NDRC), China's economic planning body, has published a plan for its resource recycling industry on Wednesday July 7 to accelerate the development of a low-carbon circular economy.The development plan, which includes a goal for the ferrous scrap usage in the steel sector to reach 0.32 billion tonnes in 2025, forms part of the country's 14th five-year...Read More
Premiums in the United States and Europe continued to rise in the week ending Tuesday July 6 with news that the Russian government will impose export duties continuing to fuel bullish sentiment.US Midwest at new all-time highRussian export tax pushes Rotterdam up againWait and see approach in AsiaUS Midwest premium sets new high againFastmarkets assessed the aluminium P1020A premium, ddp Midwest U...Read More
China's National Development and Reform Commission (NDRC) issued the country's 14th five-year development plan for a circular economy on Wednesday July 7, according to a notice published on the commission's website.The plan highlights the importance of promoting economical and intensive use of resources, and building a circular industrial system as well as a recycling system of waste materials in...Read More
China's output of recycled non-ferrous metals is set to reach 20 million tonnes by 2025, the country's National Development and Reform Commission (NDRC) said on Wednesday July 7. The output target forms part of the NDRC's resource recycling industry development plan, which aims to accelerate the development of a green and low-carbon circular economy during China's 14th Five-Year Plan (2021-2025).A...Read More
Singapore is well-placed to continue playing a growing role in the global commodities market amid the possible likelihood of Covid-19 turning endemic, the Singapore Exchange's head of commodities, William Chin, told Fastmarkets in an interview ahead of Singapore International Ferrous Week 2021."Covid-19 brought the entire commodities industry into uncharted waters and threw out century-old playboo...Read More
Europe's third-quarter steel import quotas opened on Thursday July 1, but already some suppliers have absorbed a large proportion of the long steel allocation, repeating a similar scenario from the previous quarter.As a result, European independent traders and downstream steel users are once again left with no alternative to domestically produced steel and surging prices, sources told Fastmarkets....Read More
China's new trend pf setting out unwritten rules for its commodities industries and communicating them verbally will be a key method to watch out for in the future, market sources told Fastmarkets."Unofficial communications to steel mills are increasingly [coming] via provincial and township authorities [and are], not written out clearly as announcements," an iron ore trader in eastern China told...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 7 that are worth another look.Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on July 7....Read More
Spot prices for standard and alloy grade cobalt have continued to trend higher since the beginning of this week, driven by aggressive offers and a pickup in end-user demand in Europe and the United States, Fastmarkets heard on Wednesday July 7.Available spot units remained in tight hands, with producers' availability low and traders holding back their offers in expectation of further price increas...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 7 that are worth another look.Automotive production in Brazil rose by 69.58% in June over the corresponding month in 2020, on the industry's recovery from stoppages called during the Covid-19 pandemic last year, automakers' association Anfavea said on July 7....Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Copper prices fell by 2.1% on the London Metal Exchange during trading on Tuesday July 6, on a strengthening of the US dollar and market caution at the start of the new trading month.The three-month copper price fell by almost $200 per tonne on Tuesday to $9,312 per tonne, despite reaching an intra-day high of $9,632.50 per tonne. This was a 2.1% decrease from Monday's 5pm close of $9,511 per tonn...Read More
The zinc price in Shanghai rose on Tuesday July 6 despite the state's latest attempt to cool down the price of the galvanizing metal by auctioning off inventory.The daily zinc Shanghai Futures Exchange price closed at 22,310 yuan on Tuesday, up 0.6% day on day.There was minimal price reaction after the Chinese government sold its 30,000 tonnes of zinc ingots reserve at the first-ever public tender...Read More