An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang,...Read More
Base metals prices on the London Metal Exchange were mainly stronger this morning, Thursday May 20, on dip buying, while those on the Shanghai Futures Exchange were down across the board in reaction to the 3.5% average loss on the LME on Wednesday. China's rhetoric on its determination to wrestle inflationary pressures in commodities triggered weakness in the metals. Base metals LME three-month ba...Read More
The United States' pig iron import market increased again during the week to Friday May 21 on improved workable price level for buyers, but high offers fromsuppliers in the Commonwealth of Independent States have not yet been accepted. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was at $650-670 per tonne on Friday, up by 2.33% from $640-650 per tonne the previous we...Read More
Turkish steel scrap import prices have so far held firm despite a sharp drop in China's steel and scrap markets this week.Soaring billet and rebar prices in Asia were factors in allowing Turkish import scrap prices to rise earlier this month, but despite a large downturn in many Asian ferrous markets this week - including China and Taiwan - Turkish scrap prices have so far been undeterred. Turkey...Read More
Turkish steel scrap import prices have so far held firm despite a sharp drop in China's steel and scrap markets this week.Soaring billet and rebar prices in Asia were factors in allowing Turkish import scrap prices to rise earlier this month, but despite a large downturn in many Asian ferrous markets this week - including China and Taiwan - Turkish scrap prices have so far been undeterred. Turkey...Read More
Key data from Fastmarkets' pricing sessions in Europe, India, the United States and China on Friday May 21. Europe The manganese alloys markets jumped in line with inter-merchant demand ahead of expected renewed activity from steel mills in June for third-quarter delivery settlements. This prompted more buying interest for short covering as it soon became clear there was a shortage of...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) index continued to rebound this week with Chinese smelters carrying on purchasing in the mid-to-high $30s and 3 cents, sources told Fastmarkets.Fastmarkets copper concentrate TC index, cif Asia Pacfic was at $29.70 per tonne/ 2.97 cents per lb on May 21, its highest level since March 5. Bids came in...Read More
Import prices for flat-rolled steel had no clear trend in South America during the week ended Friday May 21 amid lower Chinese offers and buyers accepting higher prices from other origins, market participants said.Fastmarkets' assessment for steel plate import, cfr main ports South America, was $1,100-1,140 per tonne on Friday, up by $60-100 from $1,000-1,080 per tonne a week earlier.While some Ch...Read More
An overview of the aerospace materials markets and the latest price moves.Ewa Manthey and Michael Greenfield in...Read More
Hot-dipped galvanized coil prices in Turkey increased during the week to Friday May 21 while demand was strong, sources told Fastmarkets.Demand was strong in the domestic and export markets, with several deals heard during the week, Fastmarkets was told.HDG prices continued their uptrend in Europe, one of the biggest export markets for Turkish HDG, sources said.The price increases were moderate du...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang,...Read More
Prices for shredded steel scrap into India and Pakistan continued to rise in the week to Friday May 21, despite a souring of market sentiment, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $517.88 per tonne on Friday, up from$510.55 per tonne one week earlier.One deal was heard at $515 per tonne this week, compared with a...Read More
Poland rebar producers were largely holding back on offering and taking a wait-and-see stance amid an unprecedented price surge, while secondary market prices continued rising on support from strong demand, limited supply and increased scrap costs, sources told Fastmarkets on Friday May 21.Local mills had reportedly withdrawn their rebar offers this week and are expected to come back next week, ma...Read More
Prices for inter-merchant light iron scrap in the United Kingdom increased to as much as ?180 ($254) per tonne over the week ended Friday May 21, a level last seen in April 2012, on firm fundamentals that have encouraged higher offer prices. Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?170-180 ($240-255) per tonne on Friday,...Read More
Domestic prices for steel wire rod in Poland surged during the week to Friday May 21 on short supply and increased feedstock costs, with an uptrend expected to persist in the short-term, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 3,650-3,700 zloty ($988-1,001) per tonne on Friday, up 300-400 zloty from 3,250-3,...Read More
China's domestic rebar prices paused their downward trend on stronger demand on Friday May 21, but eastern prices ended the week 650-680 yuan ($101-106) per tonne lower week on week.DomesticEastern China (Shanghai): 5,100-5,150 yuan ($793-800) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,400-5,450 yuan per tonne, down by 730-750 yuan per tonneConstruction sites in China raised...Read More
Key data from Fastmarkets' pricing sessions in Europe, the United States and China on Friday May 21.China The ferro-silicon market turned bullish amid booming demand from the steel sector, with China gradually shifting from iron ore to steel scrap steelmaking under its strict environmental protection measures and in a bid to reduce carbon emissions. Ferro-silicon is used as a warming agent in the...Read More
Automotive manufacturer Ford Motor Co and South Korean energy conglomerate SK Innovation have signed a memorandum of understanding to create a joint venture to manufacture battery cells and energy storage arrays for electric vehicles (EVs) in the United States, Ford said.The venture, to be called BlueOvalSK, will produce roughly 60 gigawatt hours (GWh) annually starting mid-decade, with the potent...Read More
Chinese nickel products provider Lygend Mining has started its first production of mixed hydroxide precipitate (MHP) in Indonesia successfully, the company said on May 19, 2021.Lygend's MHP production project is the first high-pressure acid leach (HPAL) project to reach production in Indonesia, Fastmarkets understands.Both Lygend Mining and its Indonesian partner Harita Group operate the project,...Read More
German chemical conglomerate BASF will acquire a 51% stake in China's Hunan Shanshan Energy (Hunan Shanshan), a Chinese maker of lithium-ion battery materials that serves the battery materials' market, it said on Friday May 21.Ningbo Shanshan New Energy and Ningbo Yongxiang Investment, subsidiaries of China's Ningbo Shanshan, have signed an equity acquisition agreement with BASF to purchase stakes...Read More