Singapore's DBS has commenced trading as a Category 4 member on the London Metal Exchange, the bank said on Monday June 21.It is the first bank in Asia to have a remote membership with the LME outside of London, it said."With the new membership, DBS' corporate clients in Singapore, China, India, Indonesia, Korea and Hong Kong will have access to a comprehensive suite of hedging and financial solut...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow remained firm in the week to June 21 with good demand from construction, sources told Fastmarkets.July rebar offers to traders from local mills ranged from 69,500-71,000 roubles ($954-975) per tonne cpt in the week to June 21, largely unchanged from June offers, sources said.Tula Steel...Read More
Special bar quality (SBQ) steel prices increased in the United States in June on higher mill base prices and increased surcharges while some mills continued to sell forward production for a number of SBQ products to the end of the year, according to market participants.Fastmarkets' assessment for steel bar hot-rolled special bar quality 1-inch round 1000 series (carbon), fob mill US was at $61.50...Read More
The price of nickel sulfate in China widened downward in the week to Friday June 18, amid falling nickel prices on the London Metal Exchange, leaving market sentiment cautious, sources told Fastmarkets.Fastmarkets' price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, was 33,000-34,000 yuan ($5,102-5,256) per tonne on June 18, down by 500 yuan per tonne (0.7%) from 3...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
Prices for seaborne iron ore pellets and concentrate increased again in the week ended Friday June 18 amid an uptrend in the high-grade fines segment.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $62.40 per tonne, down $0.40 per tonne. 65% Fe blast furnace pellet, cfr Qingdao: $304.92 per tonne, up $7.23 per tonne.66% Fe concentrate, cfr Qingdao: $242.63 per ton...Read More
China's domestic rebar prices fell sharply on Monday June 21 amid weaker demand and declining iron ore futures.DomesticEastern China (Shanghai): 4,880-4,920 yuan ($754-761) per tonne, down 80-90 yuan per tonne Some construction projects in several major Chinese cities, including Beijing and Shanghai, have stopped work ahead of July 1 celebrations marking the 100th anniversary of the founding of th...Read More
Fastmarkets has corrected its PCI low-vol cfr Jingtang index, which was published incorrectly on Friday June 18 due to an error.Fastmarkets' weekly index of PCI low-vol cfr Jingtang (MB-COA-0007) on June 18 was published as $171.47 per dry metric tonne. The price should have been $171.34 per dry metric tonne.Fastmarkets' pricing database, MInD, has been updated to reflect this change.To provi...Read More
Iron ore prices fell across the board on Monday June 21 because limited demand for steel weakened sentiment for the steelmaking raw material, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $208.15 per tonne, down $10.75 per tonne 62% Fe low-alumina fines, cfr Qingdao: $210.00 per tonne, down $10.24 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $175.53 per tonne, do...Read More
Seaborne coking coal prices increased in the cfr market on Monday July 21 after more coal mines in China shut until July 1 or July 15, while the fob market stayed largely stable, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $177.28 per tonne, down $0.56 per tonnePremium hard coking coal, cfr Jingtang: $288.66 per tonne, up $3.62 per tonneHard coking coal, fob DBC...Read More
Turkish steel producers started the week with no new bookings on Monday June 21 amid limited finished steel demand, especially in the export markets, sources told Fastmarkets.The most recent deals were heard on Tuesday June 15 when two United States cargoes were sold.A mill in the Marmara region bought those cargoes, which comprised heavy melting scrap 1&2 (80:20) at $500 and $501 per tonne, plus...Read More
World manganese ore production will increase by 7.60 million tonnes (13%) in 2021, reflecting a post-pandemic recovery in production and new mining projects mainly in Africa and Australia, according to Eva Yang, China representative at the International Manganese Institute (IMnI). Speaking at the International Ferro-alloys and Mineral Products Summit held by Ferroalloy.net on Friday June 18, Yang...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Iron ore prices fell across the board on Monday June 21 because limited demand for steel weakened sentiment for the steelmaking raw material, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $208.15 per tonne, down $10.75 per tonne 62% Fe low-alumina fines, cfr Qingdao: $210.00 per tonne, down $10.24 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $175.53 per tonne, do...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow remained firm in the week to June 21 with good demand from construction, sources told Fastmarkets.July rebar offers to traders from local mills ranged from 69,500-71,000 roubles ($954-975) per tonne cpt in the week to June 21, largely unchanged from June offers, sources said.Tula Steel...Read More
Preference for Indian rebar has been growing steadily in the key Singapore import market due to the lower offers for such materials, sources told Fastmarkets during the week to Monday June 21. Market participants reported Indian material being offered as low as $750 per tonne cfr Singapore on a theoretical weight basis by traders, which is very close to buyers' preferred purchasing price, a trader...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Buyers are accepting higher prices for hot-rolled coil from European mills, but the number of offers and traded volumes remain limited, sources told Fastmarkets on Monday June 21.German and other Northern European producers were reportedly holding back from making new offers because their order books are good and they prefer to take their time before providing new prices to buyers. The region's st...Read More