Indian steel mills have increased their domestic hot-rolled coil prices by 2,500-5,000 rupees ($34-68) per tonne for sales in June, bringing local prices closer to international HRC prices, Fastmarkets heard on Friday June 4.The price of steel HRC, domestic ex-whse India, was assessed by Fastmarkets at 68,500-70,500 rupees ($938-965) per tonne on Friday, compared with last week's assessment at...Read More
Most flat steel prices in Turkey decreased during the week to Friday June 4 amid slightly weaker demand compared with previous weeks due to low-priced imports.The country's currency is also losing value,resulting in cautiousness in the market, sources told Fastmarkets. The Turkish lira was trading at 8.67 lira to $1 onFriday, compared with 8.27 lira to $1 on May 1, and 7.42 lira to $1 on January1...Read More
South American flat-rolled steel import prices all recovered past $1,000 per tonne on Friday June 4 following a momentary tumble the previous week, with China raising offers for shipment in August and market participants expecting higher or stable prices from other regions as well.Firm negotiations for August-shipment orders were expected to take place in the coming week. Import prices saw a wides...Read More
Prices in Turkey for hot-dipped and pre-painted galvanized steel coil were forced downward during the week to Friday June 4 in order to remain competitive, sources have told Fastmarkets.Demand was strong to moderate in the export markets, but the prices offered by Vietnam to Europe were about $30-40 per tonne lower than offers from Turkish suppliers.As a result, Turkish coated coil producers decre...Read More
Australian spodumene producer Galaxy Resources has increased its full year production guidance for 2021 to 195,000-210,000 dry metric tonnes (dmt) of spodumene concentrate in response to strong demand, it said on Wednesday June 2.The company had previous estimated an annual output of 185,000-200,000 dmt. Galaxy's Mt Cattlin operation in Western Australia has continued to operate at full capacity d...Read More
Hot-rolled coil prices in the United States surged above $82 per hundredweight for the first time on Friday June 4, with buyers predicting that vigorous demand will extend the rally, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $82.36 per cwt ($1,647.20 per ton) on June 4, up 1.39% from $81.23 per cwt the previous day and up 2.37% from $80....Read More
Export prices for Brazil-origin steel slab rose in the week to Friday June 4 and touched $1,000 per tonne for the first time due to higher offers to the United States and overall expectations that the global uptrend will persist.Fastmarkets assessed the price for steel slab export, fob main port Brazil at a fresh all-time high of $980-1,000 per tonne on Friday, up by $10 per tonne from $970-990 pe...Read More
The export pig iron market from the Commonwealth of Independent States was calm during the week to Thursday June 3 amid an uncertain price trend.Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $625-635 per tonne on Thursday, widening downward from $630-635 per tonne on June 2.The latest sales from CIS to the United States were reported at $665 per...Read More
The pig iron import market in the United States was firm during the week to Friday June 4 because buyers needed to accomplish further restocking.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $665 per tonne on Friday, unchanged week on week.Sources had estimated the market level at $665 per tonne and one fresh booking of Russia-origin material was reported at this...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
High aluminium premiums in Europe put an upper limit on any uptrend in the low-carbon aluminium differentials on Friday June 4.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe, at $10-15 per tonne Friday, flat compared with the previous assessment on May 7.Multiple market participants reported hearing long-term value-added product deals at $15 per tonne,...Read More
Appetites for steel scrap exports were broadly subdued in the week to Friday June 4, with the exception of imports into India and Pakistan.Turkey cooled its importing activity amid softer demand for finished steel, adjusting offers downwardPrices for cargoes from the East and West Coasts of the US divergedVietnamese importers stayed out of the market amid price-trend confusionChinese appetites wer...Read More
China's domestic rebar prices edged up on Friday June 4 on stronger demand ahead of the weekend, ending the week 200-yuan-per-tonne above the previous Friday's close in the eastern region, sources said.DomesticEastern China (Shanghai): 5,030-5,060 yuan ($785-790) per tonne, widening upward by 10 yuan per tonne.Northern China (Beijing) weekly assessment: 5,160-5,200 yuan per tonne, up by 160-170 yu...Read More
The export pig iron market from the Commonwealth of Independent States was calm during the week to Thursday June 3 amid an uncertain price trend.Fastmarkets assessed the price of high-manganese pig iron, export, fob main port Black Sea, CIS at $625-635 per tonne on Thursday, widening downward from $630-635 per tonne on June 2.The latest sales from CIS to the United States were reported at $665 per...Read More
Prices in Turkey for hot-dipped and pre-painted galvanized steel coil were forced downward during the week to Friday June 4 in order to remain competitive, sources have told Fastmarkets.Demand was strong to moderate in the export markets, but the prices offered by Vietnam to Europe were about $30-40 per tonne lower than offers from Turkish suppliers.As a result, Turkish coated coil producers decre...Read More
Tin operations at Malaysia Smelting Corp (MSC) will be shut until at least Wednesday June 9 amid a strict lockdown put in place in Malaysia following a surge in Covid-19 cases, according to two sources with direct knowledge of the matter.MSC has halted operations from June 3 until June 9 due to the lockdown measures imposed in the country until June 14. Multiple customers of the company confirmed...Read More
Freeport-McMoRan, BHP Ventures, Mitsubishi and Orion Resource Partners have invested in a technology firm to extract copper from low-grade primary sulfide ores.The United States-based Jetti Resources has secured 50 million dollars in Series C funding from these four companies, it said on June 4. Jetti, formed in 2014, specializes in technology to enable the extraction of copper from tailing a...Read More
Nornickel resumed operations at its Taimyrsky nickel and copper mine in Siberia on June 1, the world's second biggest nickel producer said on Friday June 4. Taimyrsky is now operating at about 40% of capacity, having been disabled by flooding since February 28, while a second affected mine, Oktyabrsky, resumed full production on May 13. "Water from the horizons of the Taimyrsky mine has been pumpe...Read More
Fastmarkets' copper concentrate treatment charge and refining charge (TC/RC) index gained further upward momentum on Friday June 4 amid limited spot buying interest from Chinese smelters who are undergoing maintenance work. The index is now at its highest level since late February when it was at $35.80 per tonne / 3.58 cents per lb. This week, a few spot parcels of standard concentrate w...Read More
London Metal Exchange base metals prices recovered swiftly at the close of Friday June 4 after lighter-than-expected US employment data kicked down the dollar index, following a Thursday session where decreases averaged 2.5%. Copper's three-month price rebounded to $9,955 per tonne on Friday at the close, a 1.7% rise from Thursday's $9,788.50 per tonne 5pm price. At the same time on Thursday, the...Read More