Operations at Glencore's Murrin Murrin nickel and cobalt plant in Western Australia have been reduced after an equipment failure with an acid tank, a source with knowledge of the matter told Fastmarkets. "There was a minor operating incident in the acid plant at the end of last week. Operations are running, but at a lower level while the repairs are being carried out," the source said on Monday Ma...Read More
Volkswagen has placed a $14-billion battery cell supply order with battery maker Northvolt for the next 10 years, the Swedish company said on Monday March 15, making Northvolt the carmaker's "strategic lead supplier for premium battery cells for Volkswagen Group in Europe." The Swedish battery also said it will sell its share in joint venture Northvolt Zwei, one of the partnership's factories base...Read More
The publication of Fastmarkets' assessment of the aluminium 6063 extrusion billet premium, cif Thailand was delayed due to a reporter error.The premium is published every four weeks on a Friday and should have been published on March 12. It was instead published on Monday...Read More
In her early career, La Farga chief executive Inka Guix? had not considered working for the business founded by her father and grandfather, but in her late-20s she accepted an invitation to join the company and assist in its expansion. She recounts her route to the top of the business and discusses the outlook for copper with Andrea Hotter. If Inka Guix? had taken her teacher's advice not to go...Read More
Prices for carbon steel plate in the United States held steady while spot trading was virtually suspended because US mills have not yet opened order books for May. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US held at $54.50 per hundredweight ($1,090 per short ton) on Friday March 12. The assessment has gained 118% since descending to its 2020 low of...Read More
Slab producers from the Commonwealth of Independent States raised prices further for overseas customers during the week to Monday March 15 as some accepted higher levels in the most recent round of sales.Around 25,000-30,000 tonnes of Ukraine-origin slab was heard booked in Turkey last week within the range of $740-750 per tonne cfr. This nets back to $715-730 per tonne given freight costs of $20-...Read More
Flat steel prices in the Brazilian domestic market remained stable in March, but despite a lack of buying interest a 12% price increase is being planned for April due to the low availability of coil.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, remained at 5,848-5,858 Reais ($1,054-1,055) per tonne on Friday March 12, unchanged from the previous mo...Read More
Italian domestic steel scrap prices increased in the month to Monday March 15, following the rise in prices seen globally since mid-February, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy was ?,?335-345 ($400-412) per tonne on March 15, up by ?,?20-25 per tonne month on month from ?,?310-325 per tonne.The as...Read More
Turkish deep-sea scrap import markets were quiet on Monday March 15 with mills holding back from making bookings following the latest correction in prices, sources said.At the end of the last week, two Baltic Sea cargoes were booked at $435-437 per tonne cfr on an HMS 1&2 (80:20) basis, sending the daily scrap indices down by $15.61 per tonne day on day on Friday.This led the steel mills to retrea...Read More
Domestic ferrous scrap prices in Germany increased significantly in the month to Monday March 15, supported by the trend in international trading, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill, Germany, was ?,?360-370 ($430-442) per tonne on March 15, up by ?,?20-30 per tonne from ?,?330-350 per tonne in mid-F...Read More
Turkish domestic scrap market prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday March 15.Turkish deep-sea scrap import prices fell sharply at the end of last week due to panic sales, especially in the Baltic Sea region, sources said.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $439.99 per...Read More
After a consultation period, Fastmarkets has amended the frequency of its two low-volatility pulverized coal injection (PCI) indices to weekly from daily pricing starting from March 15, 2021. This decision was made due to the illiquid nature of the spot market, which has been further affected by China's ongoing ban on Australian coal imports. All historical data relating to these prices prior...Read More
The price range for rebar imports into Singapore widened during the week to Monday March 15 on steady demand from buyers and lower-priced cargoes from India, sources told Fastmarkets.There was one transaction heard concluded at $685 per tonne cfr Singapore on a theoretical weight basis for a 50,000-tonne cargo from Turkey, and another transaction heard concluded at $675 per tonne cfr Singapore on...Read More
The seaborne premium hard coking coal price in the fob market remained weak on Monday March 18 because there is sufficient supply of Australia coking coal supply to ex-China markets, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $114.52 per tonne, down $3.05 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, up $0.43 per tonneHard coking co...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
Seaborne iron ore prices were lower across the board on Monday March 15 due to weak trading sentiment after a heavy sandstorm in Beijing added to concerns about the impact of emissions restrictions in Tangshan on iron ore demand. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $163.33 per tonne, down $2.11 per tonne 62% Fe low-alumina fines, cfr Qingdao: $163.61 per tonne, down $1.92 per t...Read More
China's domestic rebar prices dropped on Monday March 15 on destocking pressure despite a strengthening of the futures market.DomesticEastern China (Shanghai): 4,680-4,700 yuan ($720-723) per tonne, down by 20-30 yuan per tonne Tangshan has rolled back its emergency measures to combat heavy pollution.Blast furnaces in the city were producing at an average rate of 79% during the day, up by 3 percen...Read More
Aluminium's London Metal Exchange three-month price rose above $2,200 per tonne in early morning trading on Monday March 15, while the rest of the complex were consolidating from "early March weakness." Aluminium's price was up by 0.9% at $2,191 per tonne at 9am on Monday, having reached as high as $2,204 per tonne during early trading. LME aluminium warehouse data showed 44,725 tonnes of material...Read More
Markets are starting the week mixed with base metals prices and equities in different regions showing divergent performances this morning, Monday March 15. United States 10-year treasuries yields strong at 1.64%, showing risk-onChina's industrial production and retail sales climb more than expected......but unemployment also risesBase metals Three-month base metals prices on the London Metal Excha...Read More
Intense scrutiny of production curbs in China's Tangshan region - its steelmaking hub - kept prices for seaborne iron ore pellets supported in the week ended Friday March 12, though those for concentrate weakened amid falling futures.Fastmarkets iron ore indices65% Fe blast furnace pellet, cfr Qingdao: $227.43 per tonne, up $2.19 per tonne.66% Fe concentrate, cfr Qingdao: $194.84 per tonne, down $...Read More