The United States' pig iron import prices softened during the week to Friday June 18, with buyers having predominantly restocked while material for near-term shipment remained available in the market. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $650-665 per tonne on Friday, down by 2.16% from $672 per tonne a week earlier."We have bought enough and do not nee...Read More
Prices for shredded steel scrap imported into India and Pakistan have risen on active purchasing that tailed off toward the end of the week, sources told Fastmarkets on Friday June 18.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $533.93 per tonne on June 18, up from $516.47 per tonne on June 11.Offers heard this week were in the range of $520-540 per tonne cfr, whi...Read More
All base metals prices on the London Metal Exchange were lower on Friday June 18 than at the start of the week, by an average of 5.6%, brought down by a mixture of macroeconomic factors that have stifled the complex's recent bullish run.The decline across the complex to Friday was led by copper's fall on the LME, down by 8.3% on Friday to $9,135 per tonne from Monday's closing price of $9,971.50 p...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
The first shipment of Europe-origin HRS101-grade steel scrap has cleared customs at the Port of Jingtang on Friday June 18, sources told Fastmarkets.The containerized cargo, comprising 1,000 tonnes of plate and structural scrap (P&S), was sold by United Kingdom commodity brokerage Atlas Commodities to China's Zhejiang Metals & Materials Co in March.It is believed to be the first Europe-origin scra...Read More
Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.The more hawkish stance from the United States Federal Reserve on Wednesday lifted the dollar but has weighed on sentiment......as has China's decision to release state reserves of copper, aluminium...Read More
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
Hot-rolled coil prices in China's domestic market edged higher on Thursday June 17 while the ferrous complex rose across the board on supply concerns, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,480-5,500 yuan ($853-856) per tonne, up by 20-40 yuan per tonne.Spot prices climbed up on Thursday, while the most-traded HRC contract on the Shanghai Futures Exchange clawed back about 90...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 latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...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
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
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
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
The smooth unloading of a stranded alumina cargo locked in China's Bayuquan port calmed sentiment in the Chinese alumina market on June 17, sources said.Offers for port material rose to 2,550 yuan ($398.37) per tonne on June 15, up 30 yuan per tonne from a week earlier, after news of the quarantined ship became widely known, sources said. "Offers rose after the news [of the trapped ship] but low s...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
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
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese blast furnace (BF) utilization rates have stagnated and iron ore port stock volumes are rising, reaching their highest levels since March, which suggests that iron ore supply is becoming excessive while demand is not growing. Unsurprisingly, prices dropped last week and we expect the trend to continue. The market has...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