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
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
Prices for steel billet exports from the Commonwealth of Independent States softened early in the week started Monday June 28 due to a lack of support from buyers.Russian suppliers mostly continued to stay away from the market, with no fresh offers placed yet following news last Friday of the planned introduction of an export duty on steel products from August 1.The duty's base rate will be 15%, w...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
Here are five Fastmarkets MB stories you might have missed on Tuesday June 29 that are worth another look....Read More
All prices on the London Metal Exchange except for copper finished the day on June 29 at higher prices than Monday, with lead showing the biggest gains and setting a new year-to-date high, and aluminium up by 2.5%.Copper was the only price to close lower on Tuesday, falling 0.6% to $9,334.50 per tonne from Monday's $9,388 per tonne. The three-month price of lead rose by 3.2% to $2,305 per ton...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
Flat steel prices for imports into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday June 29, but demand was better because of low stock levels, Fastmarkets was told.Some market participants expected flat steel prices to increase because of Russia's recently proposed export duty.Russia will impose a base 15% export duty on 340 metal products, including hot-rolled co...Read More
Russia has adjusted existing export duties on ferrous scrap, setting duties at 5% with a minimum level of ?,?70 ($83) per tonne, according to the decree signed by the country's prime minister Mikhail Mishustin on June 23.The new regulations will come into force in the 30 days after the decree's publication and will remain in effect for a period of 180 days.Read More
Global miner Anglo American has made a successful trial of the use of sustainable biofuel to power a chartered Capesize ship on a voyage from Singapore to South Africa, reducing carbon dioxide emissions by around 5% compared with using 100% conventional marine fuel, the company has said.The biodiesel blend was produced by converting waste cooking oil from Singapore's food and beverage industry.The...Read More
All prices on the London Metal Exchange except for copper finished the day on June 29 at higher prices than Monday, with lead showing the biggest gains and setting a new year-to-date high, and aluminium up by 2.5%.Copper was the only price to close lower on Tuesday, falling 0.6% to $9,334.50 per tonne from Monday's $9,388 per tonne. The three-month price of lead rose by 3.2% to $2,305 per ton...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
No2 copper scrap cargoes have been sold to Asia and Europe at large discounts recently over concerns of the cargoes not meeting new Chinese customs criteria for recyclable material, industry sources told Fastmarkets. Theoretically, the birch/cliff cargoes, containing copper content of 94-96%, could qualify for import to China as No2 copper material, RCu-2B under the new policy which took effect la...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
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
With the exception of rising tin and aluminium prices, most prices on the London Metal Exchange were mixed on the morning of June 29. The LME three-month price of tin price rose to $31,350 per tonne on Tuesday at 9am, up from its Monday closing price of $31,152 per tonne, which had been a 1.2% increase on Friday's price. Supply issues continue to be bullish for the metal's price, with the MSC...Read More
Hot-rolled coil prices in the United States surged to an all-time high after more market participants grew concerned that a shortage of spot-market tonnage may endure for the remainder of 2021.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $85.98 per hundredweight ($1,719.60 per short ton) on Tuesday June 29, an increase of 1.46% from $84.74 per cwt on Monday June 28...Read More