Myanmar's major copper and nickel mining operations have been suspended with the transport of equipment, raw materials and finished goods no longer feasible after February's military coup, Fastmarkets learned. "Basic supplies like explosives could not be transported into the region. How could blast mining be possible?" one source familiar with current condition of Sagaing, the country's copper and...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 13 that are worth another look.Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.Nornickel resumed ore...Read More
Glencore has joined fellow global commodities trader Trafigura in holding talks to purchase a portion of Cliveden Trading's copper book, informed sources told Fastmarkets on Thursday May 13.Cliveden, which last year was said to have traded more than 1 million tonnes of copper...Read More
Strong demand from the Chinese automotive industry, combined with rising aluminium scrap values, pushed aluminium ingot ADC 12 prices to a record high this week.ADC 12 is widely used in the production of alloy wheels.Fastmarkets' weekly price assessment for aluminium ingot ADC12, exw dp China was 19,000-19,300 yuan($2,947-2,993) per tonne on Wednesday May 12, up 5.8% or 1,000-1,300 yuan per...Read More
Hebei Iron and Steel Group (HBIS) - China's second-largest steelmaker - has raised its purchase price for May-delivery silico-manganese to 7,250 yuan ($1,124.47) per tonne, market participants told Fastmarkets on Thursday May 13.The latest price is 450 yuan higher than the mill's previous purchase price of 6,800 yuan per tonne for April-delivery cargoes.HBIS' price, which applies to cargoes delive...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 13 that are worth another look.Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.Nornickel resumed ore...Read More
Downstream appetites from lithium cobalt oxide (LCO) battery manufacturers weakened in the second quarter during the traditionally weak consumption season for consumer electronics - a key consumer of LCO batteries and an industry battling with a shortage of semi-conductor chips, sources said.Some cobalt-tetroxide producers told Fastmarkets their customers have cut orders and that demand for LCO ca...Read More
Turkish steel mills booked one further cargo late on Wednesday at a higher price ahead of the post-Ramadan Eid al-Fitr holiday, Fastmarkets heard on Thursday May 13.The cargo came to light after the indices had closed for the day.A steel mill in the Iskenderun booked a Baltic sea cargo comprising 18,000 tonnes of HMS 1&2 (95:5) at $510 per tonne.Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in May at levels last seen nine years ago, amid relatively tight supplies and strong demand in both the local and export markets, sources said this week.Suppliers have managed to generally agree an increase of ?15 ($21) per tonne for steel scrap grades delivered into steelmakers in the...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Nornickel resumed ore mining at full capacity at its Oktyabrsky underground mine on Thursday May 13, the company has said, after flooding at the site meant that it was offline for nearly two months.Operations were suspended on February 24 after an inflow of groundwater was reported. Nornickel said that the mine had now recovered to its full capacity for a daily mined volume of 14,100 tonnes.Mining...Read More
Base metals prices on both the LME and SHFE were mainly weaker this morning, Thursday May 13, this after some choppy trading in recent days and the greater-than-expected pick-up in the US Consumer Price Index (CPI) on Wednesday.US CPI rises 4.4% year on year in April, and was up 0.8% month on month Asia-Pacific equities weaken on Thursday US treasury yields rise and forward curve steepens Base met...Read More
Downstream appetites from lithium cobalt oxide (LCO) battery manufacturers weakened in the second quarter during the traditionally weak consumption season for consumer electronics - a key consumer of LCO batteries and an industry battling with a shortage of semi-conductor chips, sources said.Some cobalt-tetroxide producers told Fastmarkets their customers have cut orders and that demand for LCO ca...Read More
Europe's domestic prices for hot-rolled coil have continued to surge, propelled by strong demand amid a persistent material shortage, Fastmarkets heard on Thursday May 13.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,090.71 ($1,320.36) per tonne on May 13, up by ?,?32.58 per tonne from ?,?1,058.13 per tonne on May 12.The index was also up by ?...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
China's hot-rolled coil prices fell on Thursday May 13 after Premier Li Keqiang called for stable commodity prices on Wednesday, with falls in global stock markets also dampening sentiment.DomesticEastern China (Shanghai): 6,520-6,710 yuan ($1,011-1,041) per tonne, up by 110-180 yuan per tonneSpot sellers in Shanghai secured some deals at around 6,710 yuan per tonne in the morning, but had to lowe...Read More
Guido Kerkhoff has become chief executive officer of German metals distributor Kl??ckner & Co, Fastmarkets has heard.Kerkhoff took office on Thursday May 13, replacing Gisbert R? 1/4 hl, who has been a member of the company's executive board since 2006 and its chairman since 2009.Before this, Kerkhoff had been Kl??ckner's deputy chairman of the board of directors in Europe since September 2020. He...Read More
Steel wire rod producers in Southern Europe were largely staying away from the market and holding back new offers, while scarce deals were heard done at substantially higher prices during the week amid a surge in the scrap and global long steel markets, Fastmarkets heard on Wednesday May 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe,...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 13 that are worth another look.Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.Nornickel resumed ore...Read More
Selling continued on the London Metal Exchange throughout Thursday May 13, leading to lower prices at the close, after higher-than-expected inflation readings from the United States triggered concerns of interest-rate increases on Wednesday.Nickel's three-month price was most affected on Thursday, with a decrease of 2.6% to $17,323 per tonne from Wednesday's $17,797 per tonne.Meanwhile, the three-...Read More