Sellers in China's domestic rebar market stopped lowering prices on Tuesday May 25, which led to a pick-up in end-user demand.DomesticEastern China (Shanghai): 4,900-4,920 yuan ($762-765) per tonne, unchangedThe stable prices encouraged contractors in the construction sector to replenish their inventories during the day. But transacted tonnages were not large because these buyers are not too bulli...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 25 that are worth another look.Exports of iron ore from India's east coast could face minor disruptions after the key port of Paradip in the state of Odisha suspended operations on May 25...Read More
The price of containerized shredded steel scrap imported into India decreased this week on softer demand that was a result of the wave of Covid-19 cases sweeping much of the country, as well as weaker steel prices in China, Fastmarkets heard on Tuesday May 25.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $510.93 per tonne on Tuesday, down from $517.88 per tonne in t...Read More
Import prices for steel scrap in China were unchanged on Tuesday May 25, with the country's finished steel market crashing in response to a meeting held by the Chinese government on Sunday May 23 that put more emphasis on stability in the commodities sector.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in ea...Read More
Recycled aluminium could meet 50% of demand for the metal by 2050, according to the International Aluminium Institute (IAI).In new data released on Tuesday May 25, the IAI reported a record 20 million tonnes of post-consumer scrap intake in 2019, representing nearly 60% of total scrap intake and equivalent to saving 300 million tonnes of greenhouse gas emissions."Aluminium demand is expected to in...Read More
Selenium prices in Europe have risen in the past two pricing sessions, against the backdrop of limited spot material availability and higher prices in China.Fastmarkets most recently assessed the price of selenium, 99.5% Se min, in-whs Rotterdam, at $8.20-9.20 per lb on Friday May 21, up from $7.90-9.00 per lb in the previous session two days earlier. The price was up by 10.2% from $7.40-8.30 per...Read More
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...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, $/lb at 20.00-20.50...Read More
China-based Do-Fluoride Chemical Co will invest 300 million yuan ($46.67 million) to build a lithium-ion battery plant in the city of Nanning, Guangxi province, in southern China, it said on Tuesday May 25.The project will be led by Do-Fluoride, the Nanning municipal government, and the government of the Qingxiu district of Nanning, and will have an estimated annual production capacity of 20GWh.Th...Read More
Sellers in China's domestic rebar market stopped lowering prices on Tuesday May 25, which led to a pick-up in end-user demand.DomesticEastern China (Shanghai): 4,900-4,920 yuan ($762-765) per tonne, unchangedThe stable prices encouraged contractors in the construction sector to replenish their inventories during the day. But transacted tonnages were not large because these buyers are not too bulli...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly positive on the morning of Tuesday May 25, with only SHFE lead showing significant weakness. Broader markets seem to have become more risk on again after US central bankers stuck to their dovish guidance.Asia-Pacific equities were firmer this morning, especially in China where government action has calmed inf...Read More
The current bullish commodities market is mainly driven by a supply-demand mismatch during a pandemic instead of a super cycle, panelists said at the LME Asia Metal Seminar 2021 on Tuesday May 25.An energy transition is also driving demand and price momentum for some metals, they said."The [increased] metals price resulted from a disconnect between supply and demand, because demand for metals is r...Read More
A summary of China's minor metals exports for April 2021.In brief China's exports of antimony declined in April amid weak overseas demand; buyers abroad were hesitant to place orders amid a downtrend in the material's price, according to market sources. Chinese shipments of gallium surged in April...Read More
High freight rates are pushing prices along the aluminium supply chain to multi-year highs, but there is one area where it is having the opposite effect: alumina.Alumina prices have been under pressure because of oversupply and high freight costs deterring buyers in China from importing despite low prices.Fastmarkets assessed its daily benchmark alumina index, fob Australia at $274.15 per tonne on...Read More
Base metal prices on the London Metal Exchange were little changed during morning trading on Tuesday May 25 from Monday's closing prices, with the complex consolidating following a month of peaks and declines.Nickel's three-month price, which recorded the highest rise in percentage terms among the base metals on Monday of 1.9%, was down slightly to $17,095 per tonne from its previous close at $17,...Read More
The Shanghai Futures Exchange has allowed Glencore's Nikkelverk nickel brand to be physically deliverable as a registered brand against its nickel futures contracts as of May 21, the exchange said.Nikkelverk is a branded electrolytic nickel (Ni 99.80, electrowinning) produced by Glencore Nikkelverk, a wholly owned subsidiary of Glencore Canada, which has registered capacity of 80,000 tonnes, the S...Read More
Key data from the pricing sessions in Asia, Europe and the United States over the week to Tuesday May 25.China UG2 sellers raised their offer prices to cover higher production costs and the appreciation of the rand, while most buyers took a wait-and-see approach ahead of the announcement of June's ferro-chrome tender price. Domestic spot ferro-chrome prices ticked up, while participants' near-term...Read More
Chilean copper producer Codelco has agreed a 36-month labor deal with unions representing management and employees at its headquarters in Santiago the state-run company said on Monday May 24.The world's largest copper producing company had offered no pay rises, but a bonus of 1.5 million Chilean pesos ($2,068) for those agreeing to the labor deal."The successful negotiation adds to [other] deals r...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 25 that are worth another look.Exports of iron ore from India's east coast could face minor disruptions after the key port of Paradip in the state of Odisha suspended operations on May 25...Read More
The United States is "deep in conversations" to determine how the federal government can support the growth of electric vehicles (EVs), the country's Secretary of Transportation said.The country's goal of reducing carbon emissions by at least 50% by 2030 is helping to drive this collaboration, according to Secretary Pete Buttigieg."We're deep in conversations about how to support the EV revolution...Read More