The Turkish steel mills remained mostly quiet in the deep-sea scrap import markets over the week ended Friday June 25, due to limited rebar export sales, while demand from Asia was supporting exporters on the US West Coast.Turkish mills ended the working week with a single cargo dealUS West Coast scrap export market strengthened with sales to BangladeshVietnamese buyers seek cargoes from US, Austr...Read More
Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020. After a number of cancellations and deliveries out this week, only 941,875 tonnes of aluminium are listed as on warrant - with the rest canceled and booked for delivery out. By comparison, on-warrant stocks were at well over 1.3 mill...Read More
Following a drop of 10.9% the week prior, deliverable zinc stocks in Shanghai Futures Exchange-registered warehouses slumped by 30% in the week to Friday June 25, the highest in percentage terms among the base metals complex.Zinc inventories fell by 15,103 tonnes to 35,314 tonnes on Friday, with the largest outflow, down by 4,323 tonnes to 15,456 tonnes, from the Quansheng Logistics warehouse in S...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
China's domestic rebar prices rose for a second day on Friday June 25 on rising futures, though market participants expect the market to weaken next week as a result of softening demand.DomesticEastern China (Shanghai): 4,840-4,870 yuan ($747-752) per tonne, up by 20 yuan per tonneNorthern China (Beijing) weekly assessment: 4,750-4,800 yuan per tonne, down by 170-180 yuan per tonneRebar futures st...Read More
Steelmakers in Bangladesh piled into the deep-sea bulk import market during the week to Thursday June 24, picking up several cargoes at slightly lower prices, sources told Fastmarkets.The rush for bulk material comes after certain mills picked up large tonnages of containerized scrap in recent weeks amid high capacity utilization rates in the country at major producers.With containerized scrap pri...Read More
The price of flat-rolled stainless steel in Europe resumed its upward trend this week amid a continuing supply shortage, sources told Fastmarkets on Friday June 25.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,450-3,500 ($4,116-4,176) per tonne on Friday, up ?,?100 from ?,?3,350-3,400 per tonne a week...Read More
Prices for shredded steel scrap imported into India and Pakistan have moved down over the past week on poor demand, sources told Fastmarkets on Friday June 25.Fastmarkets' calculation of the steel scrap shredded, index, import, cfr Nhava Sheva, India, was $524.57 per tonne on June 25, down from $531.17 per tonne on June 22 and $533.93 per tonne on June 18.Deal levels this week ranged widely, from...Read More
Fastmarkets has corrected its germanium dioxide, in-whs China, $/kg, which was published incorrectly on Friday June 25 due to a reporting error.Fastmarkets' weekly price assessment for germanium dioxide, in-whs China, $/kg (MB-GER-0003) was originally published at $720-1,200 per tonne on June 25, when it should have been $720-825 per tonne.Fastmarkets' pricing database, MInD, has been updated to r...Read More
The standard grade cobalt metal price rally continued through to the final assessment of the week on Friday June 25, pushed higher by a mix of consumer and trader buying. Units are in strong hands and traders are aggressive with offers, often looking to hit above the range for any inquiries of 10 tonnes or more. The number of inquiries is consistent and traders continue to pick up units - helping...Read More
China's domestic hot-rolled coil prices pushed up on Friday June 25, after futures prices increased following talks of production curbs on steel mills in the Tangshan steelmaking hub in northern China.DomesticEastern China (Shanghai): 5,380-5,450 yuan ($833-844) per tonne, up by 80-90 yuan per tonne. Northern China (Tangshan): weekly assessment: 5,280-5,330 yuan ($818-826) per tonne, down by 150-1...Read More
Hot-rolled coil prices increased in Turkish domestic and export markets during the week to Friday June 25, following the news that Russia could impose export duties, sources told Fastmarkets.Russia's economy ministry proposed that the government impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU).Russia is one of the biggest flat steel e...Read More
Prices for shredded steel scrap imported into India and Pakistan have moved down over the past week on poor demand, sources told Fastmarkets on Friday June 25.Fastmarkets' calculation of the steel scrap shredded, index, import, cfr Nhava Sheva, India, was $524.57 per tonne on June 25, down from $531.17 per tonne on June 22 and $533.93 per tonne on June 18.Deal levels this week ranged widely, from...Read More
China's Copper Smelters Purchase Team (CSPT) set the third-quarter base price for treatment and refining charges (TC/RCs) at $55 per tonne/5.5 cents per lb on Friday June 25, sources told Fastmarkets.The base price was agreed by CSPT's representatives at a meeting in Tongling, Anhui province on Friday. At the second quarter meeting, the CSPT did not reach an agreement on the...Read More
European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More
Copper's three-month price rose slightly on the morning of Friday June 25, despite another day of inflows into LME warehouses, while the rest of the London Metal Exchange prices also edged upwards. The LME three-month price of copper was at $9,467.50 per tonne on Friday shortly after 9am, up from its Thursday closing price of $9,419 per tonne. The metal's Thursday price was 1.3% lower than We...Read More
The price of austenitic stainless steel scrap in Europe and the United Kingdom moved up this week on higher nickel costs, Fastmarkets heard on Friday June 25.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids import, cif main European port was ?,?1,440-1,470 ($1,718-1,754) per tonne on Friday, up by ?,?20-30 per tonne week on week. The three month London Metal Exchange pric...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Hot-briquetted iron and ferrous scrap will become increasingly important as key steelmaking raw materials in Japan, according to SMBC Nikko Securities' senior analyst Atsushi Yamaguchi.Speaking at the Asia panel session at Steel Success Strategies 2021 on Wednesday June 23, Yamaguchi said the move will happen because of increasing concerns over carbon emissions in Japan, where major steel producer...Read More