The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesOctober 8: 90 tonnes (15 tonnes each month between January to June 2022, all at $26.75 per lb)October 14: 5 tonnes for December 2021 at $26.85 per lbOctober 15: 65 tonnes (5 tonnes for November 2021 at $...Read More
Base metals prices on the London Metal Exchange were mostly trading down at 9am on Tuesday November 16 - with the exception of nickel, which was up by over $70 per tonne.Strength in the United States dollar weakened base metals prices, with the US Dollar Index opening the day at $95.53, the highest opening figure since July 21, 2020. The rally has come off slightly since Monday's highs of $95.60.T...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
The export market for steel slab from the Commonwealth of Independent States remained quiet in the week to Monday November 15, with a various trends in different customer markets driving a lack of clarity.In the Asian region, weakening flat steel prices in China's domestic markethad a strong negative effect on other regional markets.The release of rather grim economic and property data by Chi...Read More
Export prices for Chinese steel cold-rolled coil and hot-dipped galvanized coil extended their declines over the week to Tuesday November 16, dropping to their lowest in seven and a half months.Although domestic HRC prices have stemmed their losses, trading liquidity for Chinese CRC and HDG exports failed to pick up, as potential further downsides in prices and fears of an introduction of exp...Read More
Mytilineos, which owns producer Aluminium of Greece, has received the Aluminium Stewardship Initiative's (ASI) Performance Standard.The certification was awarded to Mytilineos's metallurgy business unit for its upstream activities, including bauxite mining, alumina refining, aluminium smelting and casting. The company's bauxite mining activities at its Delphi Distomon site, its refining, smel...Read More
The downward trend in China's domestic rebar prices was halted by a rise in trading activity on Tuesday November 16, sources told Fastmarkets.Domestic Eastern China (Shanghai): 4,700-4,730 yuan ($737-742) per tonne, unchangedBuyers raised procurement rates on Tuesday morning in response to futures gains, which halted the decline in spot market prices, sources said.The most-traded January rebar fut...Read More
Export hot-rolled coil prices from the Commonwealth of Independent States fell in the week to Monday November 15 in new deals for Ukraine-origin material to Turkey.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $820-850 per tonne on Monday, down from $830-870 per tonne a week earlier.Ukraine-origin HRC was sold to Turkey at $850-870 per tonne cfr - e...Read More
Lithium market participants have voiced concern about the ability to secure supply of industrial-grade lithium compounds due to an increasingly larger share of the market being taken up by the battery sector.With long-term contract negotiations for next year's supply unfolding, traditional industrial buyers spoke of surging demand from the battery sector globally and said they expect increasing pr...Read More
German steelmakers have settled their monthly steel scrap contracts for November at higher prices, sources told Fastmarkets on Tuesday November 16.The main drivers behind the price increase were strong demand among the steelmakers and the short supply of scrap, particularly of new grades."Prices increased on average by about ?,?30 [$34] per tonne. As usual, the price rise was slightly different de...Read More
Turkish steelmakers were mostly quiet in the deep-sea scrap import markets following a sharp decline in the country's currency value, market participants told Fastmarkets on Tuesday November 16.Mills booked three deep-sea cargoes for December shipments at the beginning of the week.A steel mill in the Marmara region booked a UK cargo at $490 per tonne and a Baltic Sea cargo at $494.50 per tonne cfr...Read More
Austrian steelmaking group Voestalpine has been certified as a sustainable production site by the non-profit steel sustainability organization ResponsibleSteel, the steelmaker announced earlier this week.Part of the certification was to meet 200 criteria, including the responsible procurement of raw materials, reducing CO2 emissions and the management of labor and human rights. Certification requi...Read More
(Updates prices) LONDON, Nov 16 (Reuters) - Prices of industrial metals easedon Tuesday as the dollar firmed on positive sentiment from avirtual meeting between the leaders of the world's largesteconomies. The closely watched conversation between Chinese PresidentXi Jinping and U.S. President Joe Biden yielded no immediateoutcomes but struck a positive tone and was seen as a chance toimprove relat...Read More
Global ferro-alloy markets have been supercharged this year by robust demand and supply shortages that began when the world's major producing countries faced extensive electricity limitations. With many alloy prices near record highs, conversation at this year's International Ferro-alloys conference in Prague over November 14-16 will focus on the surge in electricity prices in China and Europe, th...Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
Still weakened manganese alloy and steel markets have reversed the rally seen in manganese ore markets since early September, with prices for both low- and high-grade seaborne manganese ore falling over the week ending November 12.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.66 per dry metric tonne unit (dmtu) on Friday, down by $0.14 (-2.41%) from $5.80 per...Read More
Here are five Fastmarkets stories you might have missed on Monday November 15 that are worth another look.Ferro-alloy supply-side disruptions will likely continue well into 2022 with production cuts in China and capacity in other regions insufficient to meet demand amid persistent logistics constraints, panelists said on Sunday November 14 during...Read More
The latest data for the global manganese ore market for the week ending November 15, 2021.Read More
Sir Brian Bender, chairman of the London Metal Exchange for almost a decade, has died at age 72.Bender joined the LME in 2010, fresh from a lifelong career in the British civil service, and described himself in an interview with Metal Market Magazine on his retirement in 2019 as a "slightly leftfield candidate" for the role.He presided over a transformative period of change at the exchange, includ...Read More
Here are five Fastmarkets stories you might have missed on Monday November 15 that are worth another look.Ferro-alloy supply-side disruptions will likely continue well into 2022 with production cuts in China and capacity in other regions insufficient to meet demand amid persistent logistics constraints, panelists said on Sunday November 14 during...Read More