Fastmarkets proposes to launch a daily assessment of the Turkey steel scrap month-to-date deal-weighted average price, to be called steel scrap, month-to-date deal-weighted average, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, $ per tonne.The price will be tonnage-weighted and will only consider deals. It will be updated on a daily basis through the course of each calendar month before re...Read More
Fastmarkets would like to give answers to some of the questions that might be raised regarding the proposed launch of a daily price assessment for steel scrap, month-to-date deal-weighted average, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, $ per tonne.Frequently asked questionsIs Fastmarkets proposing to change the way it calculates the index for steel scrap, HMS 1&2 (80:20 mix), North...Read More
Iron ore prices fell amid Chinese emissions restrictions and depressed market sentiment on Tuesday June 29, with the ongoing rainy season in southern China also dampening demand, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $212.33 per tonne, down $6.29 per tonne62% Fe low-alumina fines, cfr Qingdao: $214.94 per tonne, down $5.83 per tonne58% Fe fines high-grade...Read More
The seaborne premium hard coking coal price stayed large stable in the cfr market because most market participants adopted a wait-and-see attitude on Tuesday June 29, market sources said, while the price of premium hard coking coal fob DBCT inched higher on buying interest.Fastmarkets indicesPremium hard coking coal, fob DBCT: $184.92 per tonne, up $1.10 per tonnePremium hard coking coal, cfr Jing...Read More
Tin demand is likely to exceed 400,000 tonnes per year by 2025, while supplies from greenfield projects and recycled material are not expected to keep pace, leading to a deficit over the next decade, according to the International Tin Association (ITA).At an ITA seminar on Tuesday June 29, delegates heard that tin demand for 2020 was calculated at 355,200 tonnes, with more than 50% being used for...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday June 29 and their latest price moves.China Several major producers in Inner Mongolia stopped offering ferro-chrome in the spot market due to supply tightness amid power restrictions adding to bullish sentiment. Domestic spot ferro-chrome offer prices surged prior to an expected increase in upcoming Jul...Read More
Seven creditors have sued a Chinese warehousing and logistics firm to claim a loss of copper concentrate worth 1.073 billion yuan ($166 million), according to several court documents, the latest of which was released on June 23. Dalian Container Terminal Co Ltd (DCTL) allegedly delivered a total 925,000 tonnes of copper concentrates without the consent of the seven companies that had provided cred...Read More
The European ferro-titanium and titanium scrap markets may be set to push higher in the coming months after news that Russia will impose an export tax on ferro-alloys between August 1 and December 31 this year, according to industry sources.Europe imported around 1,500 tonnes of ferro-titanium per month on average from Russia in the past three years, including Scandinavia and Turkey, with 1,700-1,...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday June 29 that are worth another look....Read More
Ferrous scrap prices in Mexico's steelmaking regions of Monterrey and Baj?-o were mostly stable week on week while demand remained high, according to several sources.Few changes were reported during the past week, with prices appearing to stabilize at currently high levels. There were reports of some buyers adjusting their prices upward for some grades in the region near the northeastern Monterrey...Read More
Turkish steel mills picked up their activity in the deep-sea scrap markets with a fresh UK cargo sold at fairly stable prices, market participants said on Tuesday June 29.A steel mill in the Marmara region booked the UK cargo, comprising 25,000 tonnes of HMS 1&2 (80:20), 10,000 tonnes of shredded and 10,000 tonnes of bonus at an average price of $505.50 per tonne cfr. The cargo is scheduled to be...Read More
Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were weaker across the board this morning, Tuesday June 29, with the spread of the Covid-19 Delta variant a worrisome development.While lockdowns can hit demand, there is also a risk to supply from mine closures or further logistical delaysBase metalsLME three-month base metals prices were down across the board...Read More
The European ferro-titanium and titanium scrap markets may be set to push higher in the coming months after news that Russia will impose an export tax on ferro-alloys between August 1 and December 31 this year, according to industry sources.Europe imported around 1,500 tonnes of ferro-titanium per month on average from Russia in the past three years, including Scandinavia and Turkey, with 1,700-1,...Read More
UK-based mineral processing company Green Lithium has secured ?1.6 million ($2.22 million) in seed-round funding to advance its plans to build and operate the first large-scale lithium refinery in the country, it said on Monday June 28.The funds were sourced from a range of high-net-worth individual investors, and the total was more than five times the initial targeted amount, Green Lithium said....Read More
Lithium carbonate chemical prices must remain in excess of $10 per kg to stimulate the creation of new capacity to match the exponentially growing demand, Wei Xiong, vice president of China's General Lithium, has said.Wei was speaking during a lithium market webinar hosted by investment bank Morgan Stanley on Friday June 25."Demand [for lithium] is very solid," he said, "but supply is flexible and...Read More
Australia-listed Infinity Lithium Corp has entered into a non-binding memorandum of understanding (MOU) for the long-term supply of battery-grade lithium hydroxide with South Korean lithium-ion battery manufacturer LG Energy Solution, the Australian company said on Monday June 28. Under the agreement, the former will supply lithium hydroxide produced from its 75%-owned San Jos?(C) lithium project...Read More
Export prices for steel rebar and wire rod from the Commonwealth of Independent States softened in the week ended Tuesday June 29 with the market under pressure from the introduction of a duty on steel product exports from Russia, as well as the extension of safeguard duties in Europe."The introduction of an export duty in Russia is an unprecedented event, and it will now take time to understand w...Read More
Treatment charges for lead concentrates have fallen to their lowest level for two years while terms for zinc concentrates have so far resisted further rises, Fastmarkets has heard.Fastmarkets' assessment of the lead spot concentrate TC, low silver, cif China, was $25-40 per tonne on Friday June 25, down from $40-55 per tonne a month previously.With prices high and demand for lead ingots said to be...Read More
Tin was the best performer on the London Metal Exchange during trading on Monday June 28, while the rest of the complex was mixed at the start of the new week with particularly low volumes for copper's three-month contract. Tin's three-month price increased by 1.2% to $31,152 per tonne on Monday at the close from Friday's $30,774 per tonne price. The metal rose to as much as $31,220 per tonne dur...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 28 that are worth another look....Read More