Domestic prices for hot-rolled coil in Europe have continued to rise, supported by tight domestic and overseas supply and strong demand, sources told Fastmarkets on Wednesday May 26.Although buyers had to accept higher prices to secure their required volumes, they have become more cautious about the sustainability of the upward trend in Europe due to falling prices in China.The drop in Chinese fla...Read More
Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price. While the United States Federal Reserve generally seems to be remaining dovish, the vice chair, Richard Clarida, spoke of a "soft landing"........Read More
Domestic prices for European heavy steel plate increased again in the week to Wednesday May 26, supported by good demand, sources told Fastmarkets."Demand is definitely good but still missing the boost that would come from projects, especially in Italy," an Italian producer said.Market sources said that lead times from domestic suppliers have been getting longer. German mills have already started...Read More
Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price. While the United States Federal Reserve generally seems to be remaining dovish, the vice chair, Richard Clarida, spoke of a "soft landing"........Read More
Daily PDFs will be downloadable until Monday May 31. After that, because of the UK's Spring bank holiday, the next daily PDF will be downloadable on Wednesday June 2.Read More
The Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) is the latest greenfield copper project to come online, having started concentrate production on Tuesday May 25. Jointly owned by Zijin Mining and Ivanhoe Mines, the copper mine began concentrate production ahead of schedule when the first batch of copper ore containing 5-6% copper content was conveyed from the underground mine...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 26 that are worth another look.The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021,...Read More
The UK government has announced ?166 million funding to drive forward development of green technology and development as part of its Green Industrial Revolution, with UK steelmakers set to receive cash.The funding package will benefit energy-intensive businesses such as steelmaking and manufacturing and falls under the UK Prime Minister's 10 Point Plan for a green revolution, which includes remov...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed during the morning of Thursday May 27, as were broader markets – are these pauses, or early signs of a stall?* More US Federal Open Market Committee (FOMC) members seem to be getting off the fence about talking about tapering* Chinese yuan continues to strengthen, is China using the yuan to reduce inflati...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.U.S. equity index futures were quiet prior to release of economic news at 8:30 AM EDT. Consensus for April Durable Goods Orders was an increase of 0.7% versus a gain of 1.0% in March. Excluding Transportation Orders, consensus for April Durable Goods Orders was an increase of 0.7% versus...Read More
The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021, the company said on Wednesday May 26.With 19 million Reais ($3.6 million) in investments for a revamp, ArcelorMittal will resume activities with one of the two electric arc furnaces in the plant. The company first cut output at...Read More
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More
Market participants expect long-term support for aluminium scrap prices in Europe following growing demand for low-carbon aluminium. According to the European Union's taxonomy for sustainable activities, which serves as a guide to direct investment for sustainable projects, there are fewer criteria to be met for the manufacturing of secondary aluminium to be considered a sustainable project. "All...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
Chinese market participants showed more buying interest in seaborne alumina cargoes this week, with a stronger yuan giving them more purchasing power in overseas markets, several sources told Fastmarkets on Wednesday May 26. "We heard [the Chinese] have interest in [buying seaborne] alumina although we didn't hear too many offers at the index basis [in the market]," one alumina trader said. Severa...Read More
Nickel and aluminium were the stand-out metals during the afternoon session on Wednesday May 26 on the London Metal Exchange, with slight rises for the rest of the base metals - except for zinc - after a start of the week that saw lower prices across the complex. Nickel's price was up 1.5% to $17,288 per tonne on Wednesday, its highest in the past week following a bout of weakness triggered on the...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
Prices for steel hollow sections in Europe increased again on Wednesday May 26, with mills continuing to cite higher feedstock costs for raised prices, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,250-1,320 ($1,530-1,616) per tonne on May 26, up from ?,?1,220-1,250 per tonne on May 19. Fastmarkets' weekly pri...Read More
Chinese importers of steel scrap showed low buying interest in foreign cargoes during the week to Wednesday May 26 amid sharp declines in Chinese finished steel prices, with their bids much lower than offers.Bids for steel scrap were heard as low as $500 per tonne cfr northern China, which is equivalent to around $490 per tonne cfr eastern China, with buying interest dropping after finished steel...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 26 that are worth another look.The Brazilian branch of Luxembourg-based steelmaker ArcelorMittal has scheduled the restart of primary steel production at its Barra Mansa site for the second half of 2021,...Read More