Key data from Fastmarkets' Friday May 7 pricing sessions in China, India, Europe and the United States.China Seaborne low- and high-grade manganese ore markets recovered after deals were signed at higher prices for June shipment, and sentiment reacted to stronger downstream markets. Portside low- and high-grade manganese ore prices stayed firm with increased demand from smelters due to profitable...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Prices for inter-merchant light iron scrap in the UK increased over the week ended Friday May 7, extending a general rally since late March, sources have told Fastmarkets.The market was likely to move higher, they added, given strong business conditions for European scrap exports into Turkey and the Indian subcontinent.UK monthly deliveries into domestic consumers in May were likely to be settled...Read More
The price of austenitic stainless steel scrap in the UK increased this week on an uptick in nickel costs and persistently strong market fundamentals, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,200-1,260 ($1,668-1,751) per tonne on Friday, up from ?1,150-1,230 per tonne a week previously.Th...Read More
Global steel scrap prices surged in the week to Friday May 7 and could well break through the $500 per tonne cfr mark, starting in Asia, market sources have told Fastmarkets.This was due to the continued demand for steelmaking raw materials and the current high prices for alternative iron ore feedstock, they said.Turkish scrap import prices spikeSentiment in US remains bullishPossible $485 per ton...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were for the most part stronger this morning, Friday May 7, as were broader markets.Friday's United States employment report is in focus because it could prompt Federal Reserve to change tackDow Jones Industrial Average sets new highs after US initial jobless claims fell below 500,000 on Thursday for the first time s...Read More
Base metals prices on the London Metal Exchange were a bit more mixed this morning, Thursday May 6, while the return of trading on the Shanghai Futures Exchange after the Labor Day holidays saw good gains in all metals apart from zinc.Markets generally buoyant - perhaps not so surprising when the two largest economies, China and the United States could grow 6% or more this year... ...but you have...Read More
Base metals are experiencing strong gains again on the morning of Wednesday May 5 with relatively high volumes being traded on the London Metal Exchange despite the absence of Chinese market participants observing a Labor Day break. Asian markets quiet with China, Japan and South Korea on holiday US Dollar Index recently at 91.24, compared with 91.16 at a similar time on Tuesday - consolidating of...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
Some cobalt hydroxide consumers in China have been warned by shipping companies of potential delays to shipments following an outbreak of Covid-19 infections on Italian container ship Ital Libera, market participants told Fastmarkets.The container ship, which was on a scheduled trip from Durban, South Africa, to Singapore, was forced to anchor at Jakarta, Indonesia, in mid-April after its captain...Read More
The battery-grade seaborne Asian lithium carbonate market continued to post gains over the week on Thursday May 6 amid tight spot availability.Battery-grade lithium carbonate price cif China, Japan and Korea widened upward. Lithium prices in China steady following Labor Day holiday. Europe/US lithium hydroxide prices rose for both battery-grade and technical grade material. Lithium prices in Asia...Read More
Indian mills have increased domestic prices for steel hot-rolled coil by 4,500-7,000 rupees ($61-95) per tonne for sales this month, Fastmarkets heard on Friday May 7.Mills have also curtailed the supply of HRC to the domestic sector in order to ensure that the price increase will be absorbed by the market."Mills are supplying very little [HRC] material to the...Read More
Domestic prices for hot-rolled coil increased across Europe on Friday May 7, and ArcelorMittal raised its offers even further, sources told Fastmarkets.Fastmarkets calculated its steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,042.00 ($1,254.34) per tonne on May 7, up by ?,?21.17 per tonne from ?,?1,020.83 per tonne on May 6.The index was up by ?,?34.86 per tonne week on we...Read More
ArcelorMittal has again increased its official offer prices for hot-rolled coil in Europe by ?,?30 ($36) per tonne, sources told Fastmarkets on Friday May 7. The steelmaker had already increased its offers four times in April. After the rise, new offers for HRC have reached ?,?1,050 per tonne ex-works. ArcelorMittal, however, kept its offers for downstream products unchanged at ?,?1,200 per tonne...Read More
The Gulf Cooperation Council (GCC) plans to set definitive safeguard duties for a number of steel products for a period of three years, it is said in a document issued by the Bureau of Technical Secretariat for Anti Injurious Practices in International Trade (GCC-TSAIP) seen by Fastmarkets on Friday May 7. In February this year, GCC-TSAIP said that it found recent and sudden increases in imports o...Read More
Domestic wire rod prices in Poland continued to increase over the past week, boosted by good demand and a shortage of material, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,180-3,200 zloty ($836-841) per tonne on Friday, up by 20-30 zloty from 3,150-3,180 zloty per tonne delivered last week.The assess...Read More
Steel rebar prices in Poland moved up over the past week, supported by solid end-user demand and limited supply, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,970-3,020 zloty ($781-794) per tonne on Friday, up by 50-70 zloty per tonne from 2,900-2,970 zloty per tonne last week.The assessment reflected deals, of...Read More
Chrome and platinum concentrates producer Tharisa acquired 100% of the shareholding of Salene Chrome Zimbabwe on March 31, it has announced.Tharisa agreed a $3 million acquisition from Leto Settlement of an open-pit chrome project, now at the development stage, in Zimbabwe's Great Dyke, the company said in a statement published on Wednesday May 5. Tharisa is based in Europe but operates principall...Read More
Pig iron import prices in the United States increased during the week to Friday May 7, following the uptrend in the global market.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $620-635 per tonne on Friday, up from $585-595 per tonne the previous week.A cargo of Brazil-origin pig iron with 0.12% phosphorus content was bought at about $630-635 per tonne cfr for Augu...Read More