China imported 111,432 tonnes of steel scrap in May, surpassing the total of 109,978 tonnes of its imports of the steelmaking raw material in the first four months of 2021, according to the latest Chinese customs data.Last month's imports are also 56% higher than those imported in April.Of the total, 79,327 tonnes - or 71.2% - originated in Japan. South Korea remained China's second-largest scrap...Read More
German carmaker BMW has set up a closed-loop material cycle for production tools made of tungsten, it said.Starting in June, BMW will begin collecting secondary tungsten obtained from old drill and milling bits at its plants in Germany and Austria that will be recycled and used to manufacture new industrial machinery.These BMW plants generate almost nine tonnes per year of scrap from carbide tools...Read More
Brazilian domestic flat steel prices have reached a ceiling this month, with no additional room for price increases, according to Carlos Loureiro, president of national flat steel distributors' association, Inda.The price level reached a maximum after increases of around 10% were applied in early June, and distributors are already having problems passing on the adjustment to their clients.Fastmark...Read More
The Turkish steel mills have been staying away from deep-sea scrap purchases because of weak rebar sales and a sufficiency of scrap stocks, market participants told Fastmarkets on Tuesday June 22.The most recent deals were heard on June 15, when two United States-origin cargoes were sold.A mill in the Marmara region bought those cargoes, which comprised HMS 1&2 (80:20) at $500 and $501 per tonne,...Read More
All three-month prices for base metals on the London Metal Exchange rose by about 1% for the second day in a row on Tuesday June 22, continuing their recovery from the weakness of the previous seven days.Nickel's three-month price rose by the greatest margin on Tuesday, by 1.6% to $17,750 per tonne, following Monday's 1.7% increase to $17,450 per tonne.The metal suffered a 7.2% decline last week t...Read More
Domestic prices for hot-rolled coil in Europe remained in a wide range on Tuesday June 22, with some buyers ready to accept high prices for material with shorter lead times, sources told Fastmarkets.Northern European steelmakers have been reported to have good order books, and they have been holding back from making official offers. The region's mills were sold out of HRC until fourth-quarter roll...Read More
Glencore will restart operations at its Mutanda copper-cobalt facility toward the end of 2021, and plans to return the asset to normal production in 2022, the global miner said on Tuesday June 22.Glencore placed the facility, which is in the Democratic Republic of Congo (DRC), on care and maintenance in late 2019 following a slump in cobalt prices.Mutanda can produce around 25,000 tonnes per year....Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
Brazilian domestic flat steel prices have reached a ceiling this month, with no additional room for price increases, according to Carlos Loureiro, president of national flat steel distributors' association, Inda.The price level reached a maximum after increases of around 10% were applied in early June, and distributors are already having problems passing on the adjustment to their clients.Fastmark...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
A summary of China's battery raw materials exports for May 2021.In brief Exports of cobalt tetroxide fell in May amid falling downstream demand for batteries used in consumer electronics outside of China as a result of a lack of semi-conductor chips and a resurgence...Read More
Miners China Moly and IX Metal have joined Glencore and Huayou's Fair Cobalt Alliance (FCA), a body whose aim is to professionalize the artisanal mining sector in the global heartland of cobalt production - the Democratic Republic of Congo (DRC)."[Because we are] a large industrial miner that maintains strict product control and custody procedures, artisanal and small-scale mining [ASM] sits outsi...Read More
Aluminium premiums diverged again on Tuesday June 22, with Rotterdam premiums increasing, while the Japanese premium fell and the US premium was unchanged.Rotterdam premiums boosted by demand, logisticsMJP ticks down, South Korea unchangedUS Midwest premium steady for three weeksStrong demand, high freight rates boost Rotterdam premiumsPremiums in Rotterdam continued to climb, due to strong demand...Read More
Glencore will restart operations at its Mutanda copper-cobalt facility toward the end of 2021, and plans to return the asset to normal production in 2022, the global miner said on Tuesday June 22.Glencore placed the facility, which is in the Democratic Republic of Congo (DRC), on care and maintenance in late 2019 following a slump in cobalt prices.Mutanda can produce around 25,000 tonnes per year....Read More
A summary of China's battery raw materials exports for May 2021.In brief Exports of cobalt tetroxide fell in May amid falling downstream demand for batteries used in consumer electronics outside of China as a result of a lack of semi-conductor chips and a resurgence...Read More
Mexico's ferrous scrap prices increased further in the week to Friday June 18, with buyers continuing to compete for material, especially the higher grades.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 11,600 pesos ($578) per tonne on June 22, up by 400 pesos from 11,200 pesos a week earlier. This marked the fourth consecutive...Read More
Mexico's ferrous scrap prices increased further in the week to Friday June 18, with buyers continuing to compete for material, especially the higher grades.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 11,600 pesos ($578) per tonne on June 22, up by 400 pesos from 11,200 pesos a week earlier. This marked the fourth consecutive...Read More
Mr Xu Kuangdi, the former president of the Chinese Academy of Engineering, said at a symposium on Monday June 21 that using scrap in steelmaking would be an "effective and realistic" way for China to achieve carbon neutrality in the steel sector and it should be "strongly encouraged" nationwide, sources said.The symposium was organized by the China Iron & Steel Association (Cisa) for the national...Read More
Iron ore prices rose on Tuesday June 22, and there was market chatter about the potential resumption of blast furnace operations and the easing of emissions restrictions in Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $214.32 per tonne, up $6.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $216.00 per tonne, up $6 per tonne58% Fe fines high-grade pr...Read More
Seaborne premium hard coking coal prices continued to rise in the cfr market due to tight supplies, while prices were largely stable in the fob market, with market participants adopting a wait-and-see attitude, sources told Fastmarkets on Tuesday June 22.Fastmarkets indicesPremium hard coking coal, fob DBCT: $177.87 per tonne, up $0.59 per tonnePremium hard coking coal, cfr Jingtang: $290.19 per t...Read More