The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More
The price of flat-rolled stainless steel produced in Europe rose further this week while supply struggled to keep pace with demand, sources told Fastmarkets on Friday February 5. Fastmarkets' weekly price assessment of stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?2,500-2,550 ($2,998-3,058) per tonne on Friday, up by ?,?120-150 per...Read More
Pakistan long steel producer Agha Steel is to install solar polar at its production facility in a push to achieve green steelmaking, the company said on Thursday February 4. As part of its "Green Steel Revolution," the company has signed a contract with Renewable Power Pvt Ltd to install a 2.25 Megawatt solar power project at its production facility. Using solar power would reduce its carbon emiss...Read More
Prices for imported containerized ferrous scrap in Taiwan have continued to trend downward despite efforts by some market participants to shore up the market.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $350-360 per tonne on Friday February 5, unchanged from a day earlier but down by $5-10 per tonne from...Read More
The upcoming Lunar New Year holiday in Vietnam, also known as Tet, has dampened buying sentiment during the week to Friday February 5, sources told Fastmarkets. Offers for bulk Japanese H2 materials were at $385 per tonne cfr Vietnam this week, with a buyer bidding at $380 per tonne cfr Vietnam.A rebound in the Japanese scrap market has led some Japanese sellers to raise offers to $400-405 per ton...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday February 5. China The domestic spot ferro-silicon price softened for the first time since early August 2020 after some suppliers trimmed their offer prices to generate sales ahead of the Lunar New Year holiday (February 11-17). Sentiment weakened due to falling futures prices in the week to Wed...Read More
The uptrend in European vanadium prices continued to accelerate at the beginning of February while end-user demand increased amid tight prompt supplies, sources told Fastmarkets.Fastmarkets' assessment for the ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe price was at $28.25-29.50 per kg on Friday February 5, up 2.2% from the midweek assessment of $28-28.50 per kg, when prices had...Read More
(Updates with close of Friday trading, adds details on VIXperformance history) By April Joyner NEW YORK, Feb 5 (Reuters) - As the trading frenzy inGameStop Corp shares and other social media favoritesrecedes, investors are eyeing signs of potential market stressthat could weigh on broader stock performance in coming weeks. For now, U.S. equities appear to be looking past last week'ssurge in volati...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 4 that are worth another look.Brazil-based miner Vale has reached a settlement with local prosecutors to pay 37.7 billion Reais ($7.03 billion) in reparations for the deadly disaster that hit the city of Brumadinho in January 2019, it said...Read More
Ball Corp expects investment in beverage packaging to continue to grow as demand for sustainable aluminium cans for traditional and non-traditional beverages continues to accelerate, the Colorado, United States-based company said in its 2020 earnings report. After delays to some projects last year for health and safety reasons due to the Covid-19 pandemic, additional beverage can line investments...Read More
Forward prices on the London Metal Exchange made luckluster moves on Thursday February 4, with the upcoming Chinese New Year holiday and a high US dollar index leading to consolidation.Copper was part of the stable LME cohort, staying broadly unchanged at $7,823 per tonne on Thursday compared with $7,842.50 per tonne at Wednesday's close, albeit on low volumes of just over 10,400 lots exchang...Read More
The attraction of high sales volumes and good netbacks in China continued to tighten supply and supported prices for ferro-chrome in Europe in the week to Tuesday February 2.Ferro-chrome producers have targeted China, attracted by the high demand, rather than Europe. This has reduced the volumes available in Europe, which in turn has increased prices.Fastmarkets' price assessment for ferro-chrome,...Read More
Michael Lillja will join Outokumpu as senior sales director in March, Fastmarkets understands.The chrome market veteran will join the Helsinki-listed stainless steel manufacturer and ferro-chrome producer...Read More
Minera????o Vale Verde (MVV) has secured the last tranche of financing needed to start production at its copper-gold mine in northeast Brazil, its parent company, Appian Capital Advisory, said on Thursday February 4.The company raised $140 million via project finance with ING, Natixis, and Soci?(C)t?(C) G?(C)n?(C)rale in a transaction it called the "largest greenfield project finance" since the be...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 4 that are worth another look.Brazil-based miner Vale has reached a settlement with local prosecutors to pay 37.7 billion Reais ($7.03 billion) in reparations for the deadly disaster that hit the city of Brumadinho in January 2019, it said...Read More
General Motors (GM) has become the latest automaker hit by the global shortage of computer chips and has been forced to temporarily stop production in North America and South Korea, it said on Wednesday February 3.The US automaker will cut production entirely at three of its factories in North America and will halt production at one assembly plant in South Korea during the week of February 8. The...Read More
Ball Corp expects investment in beverage packaging to continue to grow as demand for sustainable aluminium cans for traditional and non-traditional beverages continues to accelerate, the Colorado, United States-based company said in its 2020 earnings report. After delays to some projects last year for health and safety reasons due to the Covid-19 pandemic, additional beverage can line investments...Read More
The European titanium scrap market resumed its six-month long rally over the week to Wednesday February 3 after a brief pause, with ferro-titanium suppliers set to hold their offer prices in the near term ahead of second-quarter demand from steelmakers, market sources told Fastmarkets.Both titanium scrap markets that Fastmarkets assesses have jumped about two-fold in the past six months.Fastmarket...Read More
The steel industry has largely welcomed India's 2021-2022 union budget that was announced on February 1 for its focus on infrastructure and government spending. The impact of the coronavirus pandemic and subsequent lockdown in the country resulted in India's gross domestic product (GDP) falling by a forecast 7.7% in the year to March 2021, before rebounding to grow by 11% the year after, according...Read More
Base metals prices on the London Metal Exchange were mainly weaker, while those on the Shanghai Futures Exchange were mainly firmer this morning, Thursday February 4, with the weaker dollar likely weighing on dollar-denominated prices.Along with a stronger US Dollar Index, US 10-year treasuries yields are stronger too......suggesting risk-on, but broader markets not reflecting that this morningAsi...Read More