The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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...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
London Metal Exchange base metals prices sold off in end-of-week trading on Friday May 21, with copper, nickel and aluminium closing at their lowest levels since April. Three-month copper futures closed at $9,881.50 per tonne at 5pm, down $166.50 (1.7%) against yesterday's close. Importantly, the red metal finished the week below the symbolic $10,000 per tonne, coming as the physical market for re...Read More
Battery-grade lithium carbonate and hydroxide prices in China diverged over the week ended Thursday May 20, with the latter underpinned by persistent tight availability and robust demand in Asia.The lithium hydroxide price exw China edged higher on tight supply and robust buying appetite, while the lithium carbonate price softened. Seaborne lithium prices held steady amid supply tightness. Europe...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
Here are five Fastmarkets stories you might have missed on Thursday May 20 that are worth another look.The iron ore market price has broken several records in 2021, with sky high prices for various iron-ore brands emerging even before the half-year mark - such as the iron ore 62% Fe index surpassing $200 per...Read More
Turkish steel producers skipped the last working day of the week with no deep-sea bookings, market participants told Fastmarkets on Friday May 21.Mills booked at least four deep-sea cargoes this week despite the holiday periods that have suspended trade in most of Turkey's local market over the past two weeks.The most recent deal was done on Thursday May 20, when a steel mill in the Iskenderun reg...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,...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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....Read More
Prices for Chinese stainless cold-rolled coil weakened over the past week on selling pressure and a falling nickel market.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday May 19 at $17,702 per tonne, down by $240 per tonne from $17,942 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,500...Read More
Russia's Ministry of Industry and Trade is proposing to double the export duty on ferrous scrap to ?,?90 ($109.82) per tonne in a bid to halt export growth and stabilize domestic prices of the raw material and steel products.The previously imposed rate of ?,?45 per tonne has not been enough to secure sufficient domestic supply of scrap and prevent excessive exports, the ministry said.The exis...Read More
Prices for steel scrap imported into China inched up on Friday May 21 amid an increase in activity in finished steel products markets compared with earlier this week.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $520-530 per tonne on Friday, up by $10-20 from $500-520 per tonne a day ea...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
Here are five Fastmarkets stories you might have missed on Thursday May 20 that are worth another look.The iron ore market price has broken several records in 2021, with sky high prices for various iron-ore brands emerging even before the half-year mark - such as the iron ore 62% Fe index surpassing $200 per...Read More
A significant rise in the LME lead price on Thursday May 20, was the outlier in the base metals complex, with its peers having a mixed day following Wednesday's selling session.Lead's three-month price was up by 1.95% at the close on Thursday to $2,217 per tonne, from $2,174.50 per tonne at 5pm on Wednesday, which was the biggest rise on the day and in stark contrast with the rest of the base meta...Read More
Major metals and mining companies Glencore, Eurasian Resources Group (ERG) and China Molybdenum Company (CMOC) are collaborating with battery material supplier Umicore to pilot ReISource, a blockchain technology solution to trace responsibly-produced cobalt from the mine to the electric vehicle (EV).The companies said that a global pioneer of EVs and one of the world's leading battery makers are a...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US83.06 cents following release of Canadian March Retail Sales at 8:30 AM EDT. Consensus was an increase of 3.7% versus a gain of 1.2% in February. Actual was an increase of 3.6%.Home Depot added $1.75 to $317.65 after announcing a $20 billi...Read More
Aluminium producer Rusal's proposed move to split into two different businesses will not impact customer negotiations for 2022 contracts, but the effects are likely to be felt gradually from 2023 onward, company director of sales and marketing Steve Hodgson told Fastmarkets. The company has notified its customers about the demerger, announced on Wednesday May 19, on a broader level but it has not...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 19 that are worth another look.ArcelorMittal has told some customers that it will be adding another ?,?50 ($73) per tonne to its coil product offer prices in Europe this week, sources told Fastmarkets on Wednesday May 19.Tax...Read More
The Alumar aluminium smelter in Brazil's Maranh??o state could be a future target for a restart, Alcoa Corp chief financial officer Bill Oplinger said. Alcoa operates around one-quarter of currently curtailed aluminium smelting operations in the Western world and is eying various dynamics when considering restarts, including local currency, local workforce and energy availability, he said. "When I...Read More