Volkswagen Group is seeking partnerships with battery raw material producers in order to vertically integrate and achieve security of supply and competitive prices for its minerals needs, a spokesperson for the German automaker told Fastmarkets on Thursday June 17.This is in line with the company's strategy to move forward with the electrification of its fleet. Besides gaining security of supply,...Read More
Prices for steel scrap imported into China were unchanged on Thursday June 17, with only limited negotiations between buyers and sellers.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $530-540 per tonne on Thursday, unchanged day on day. Offers from Japan were heard at $570-580 per tonne...Read More
The whole London Metal Exchange complex fell on Thursday June 17 due to a high US dollar, with zinc and lead the hardest hit.The US Dollar Index touched 91.93 on Thursday, its highest level since April 13. This followed a more hawkish view expressed by the US Federal Reserve regarding inflation and interest rates, delivered on June 17.The three-month price of zinc fell the furthest, to $2,911.50 p...Read More
The steel mills in Bangladesh have picked up a raft of containerized scrap cargoes at higher prices over the past week, preferring boxes over bulk cargoes, market participants told Fastmarkets on Thursday June 17.Demand for bulk material was muted in the country following recent completed trades, rising bulk prices from the United States West Coast and continued congestion at the Bangladeshi port...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
A sharp rise in freight prices is eating into South African manganese producer profits by exacerbating the negative impact of the strengthening rand against the dollar.Freight rates have been high for several months amid increased demand for vessels and competition for freight space from other commodities.Manganese market participants told Fastmarkets that freight rates have risen rapidly over the...Read More
Joseph Carrabba, formerly chairman, president and chief executive officer of Cleveland-Cliffs, has been named CEO of ElementUS Minerals, the company has said.Carrabba was at Cleveland-Cliffs, at one point known as Cliffs Natural Resources, from 2005 to 2013. Prior to this, he had spent more than 20 years in executive leadership at Rio Tinto, holding positions in its North American, Australian, Asi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 16.Please click...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
The upward momentum in cobalt spot prices continued on Thursday June 17 with prices rising for the second consecutive day, and traders becoming aggressive in the market after sensing a return of demand.Fastmarkets' price assessment for cobalt, standard grade, in whs Rotterdam, was $20.20-20.95 per lb on Thursday. This was up from $20.10-20.70 per lb the previous day.https://www.metalbulletin.com/M...Read More
Turkish steel billet prices in local and export markets have increased this week on improving demand, while imported billet prices narrowed downward, market participants said on Thursday June 17.Turkish market participants were expecting prices to increase for billet because of high scrap prices.Scrap prices decreased during the week, but the price falls were not sharp.Fastmarkets' daily index for...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
The Italian steel distributors association, Assofermet, is calling for the complete removal of safeguard measures in Europe to protect steel users and consumers from the effects of the record high prices currently seen in the market. The association demanded the removal of the import controls on 26 steel products after the European Commission proposed extending the current measures for another thr...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The seamless pipe market continued its rise over the past month across most products and geographies. Sharp price increases of $135-140 per tonne were seen for oil country tubular goods (OCTG) and line pipe in the United States. In Europe and in the Middle East, increases were more modest, with the exception of a few product...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The seamless pipe market continued its rise over the past month across most products and geographies. Sharp price increases of $135-140 per tonne were seen for oil country tubular goods (OCTG) and line pipe in the United States. In Europe and in the Middle East, increases were more modest, with the exception of a few product...Read More
Offers from billet producers in the Commonwealth of Independent States were stable in the second half of the week despite reports of limited demand.Customers in Asia, particularly China, were not willing to pay above $700 per tonne cfr early in the week, which would be equivalent to $640 per tonne fob Black Sea. No deal were concluded at this price because it was considered too low by mills sellin...Read More