Seaborne premium fob index skyrocketed on Monday January 25 following two higher transactions during the day, while the premium cfr price increased on latest transactions also, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $145.95 per tonne, up $11.96 per tonnePremium hard coking coal, cfr Jingtang: $212.95 per tonne, up $3.74 per tonneHard coking coal, fob DBCT: $107.78 per...Read More
The London Metal Exchange will launch its new cash-settled lithium futures contract on June 14, 2021, settled against Fastmarkets' price assessment for lithium hydroxide monohydrate. The exchange will also add another aluminium cash-settled futures contract to its suite with the launch of a new European duty-paid aluminium premium contract settled against Fastmarkets' benchmark Rotterdam premium....Read More
The Chinese market price of nickel pig iron (NPI) rose in the week to Friday January 22 amid improved spot activity ahead of the Chinese New Year holiday (February 11-17), sources said.Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,110-1,140 yuan ($171-176) per nickel unit on Friday, up by 20-40 yuan per nickel unit or 2.7% from 1,090-1,100 y...Read More
Japan's Sumitomo has written down a loss of 30 billion yen ($289 million) at its Ambatovy nickel-cobalt asset in Madagascar, in addition to the separate 55 billion yen ($530 million) impairment announced in the middle of last year, according to a company statement dated January 25, 2021.This was the latest in a series of difficult events for Ambatovy, which has been out of the market since March 2...Read More
Tin's forward price reached a new year-to-date high on the London Metal Exchange on Monday January 25, while other prices were mixed despite a slight rise in the United States dollar index throughout the day. The metal's three-month price traded at a new 2021 intraday high of $22,600 per tonne, surpassing the previous high of $22,375 per tonne set just last week. It is also the highest intraday pr...Read More
Lead recycler Aqua Metals has partnered with German chemical company BASF to supply electrolyte, cooperate commercially, and explore technical improvements to enhance the performance of the US company's lead recycling technology, AquaRefining.BASF will offer AquaRefining to its existing and prospective battery recycling clients, and Aqua Metals will incorporate BASF product into every initial depl...Read More
Chinese copper importers have continued to favor top quality copper scrap this month to avoid the rejection risk under a new import policy of birch/cliff cargoes, which are traditionally more popular in the country, market sources said."We prefer buying No 1 recyclable copper material because it does not encounter any problems for custom clearance," a Ningbo-based copper importer told Fastmarkets....Read More
The price range for secondary aluminium ingot across Europe declined by just over 2% at the midpoint on Friday January 22, the downturn coming after market participants reported a dip in purchasing appetite from Asian buyers ahead of China's Lunar New Year holiday next month.Fastmarkets' assessment of the aluminium pressure diecasting ingot DIN226/A380, delivered Europe, fell to ?,?1,940-2,000 ($2...Read More
Export prices for hot-rolled coil from the Commonwealth of Independent States (CIS) continued to decrease during the week to Monday January 25, while heavy plate prices increased, sources told Fastmarkets.Fastmarkets' weekly price assessment of steel hot-rolled coil, export, fob Black Sea, CIS was $745-760 per tonne on Monday, down by $20 from $765-780 per tonne a week earlier.In Turkey, which is...Read More
Export rebar and wire rod prices from the Commonwealth of Independent States (CIS) decreased in the week to Monday January 25 amid increased competition with Turkish and Chinese suppliers, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey was $620-630 per tonne on Thursday January 21, down from $650-660 per tonne fob a week earli...Read More
Trading activity in the European market for hot-rolled coil was slow during the week to Monday January 25, with buyers avoiding making new deals due to an expected price fall, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?710.00 ($864.08) per tonne on Monday January 25, down by ?,?1.25 per tonne from ?,?711.25 per tonne o...Read More
Liberty Steel Group has completed "due diligence" on Thyssenkrupp Steel Europe and submitted a "firmed up" bid for its acquisition based on the results, the UK-based steel company told Fastmarkets on Monday January 25."On Monday January 25, 2021, Liberty Steel submitted a firmed-up bid for Thyssenkrupp Steel Europe based on the results of the comprehensive due diligence process including multiple...Read More
The domestic rebar market in Russia's Central Federal District around Moscow declined slightly the week to Monday January 25 amid slow market activity due to seasonal factors and the possibility of an export duty, several sources told Fastmarkets. Construction activity in Russia, the main market for rebar, typically slows in late autumn and early winter due to poor weather conditions and does not...Read More
Turkish steel producers continued to hold back from deep-sea scrap purchases at the start of this week amid limited demand for rebar and billet, market participants said on Monday January 25.The mills in Turkey have been absent in the deep-sea markets since last week. The most recent transaction was heard on Wednesday January 20 at $440 per tonne cfr on HMS 1&2 (80:20) basis.That transaction pushe...Read More
Turkish domestic scrap prices have fallen sharply over the past week, following the downward trend seen in the deep-sea scrap import markets, sources said on Monday January 25.Steelmakers in Turkey held back from purchasing deep-sea scrap late last week, due to poor sales of finished long steel and billet.The most recent deep-sea transaction was heard on Wednesday January 20 at $440 per tonne cfr...Read More
Seaborne premium fob index skyrocketed on Monday January 25 following two higher transactions during the day, while the premium cfr price increased on latest transactions also, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $145.95 per tonne, up $11.96 per tonnePremium hard coking coal, cfr Jingtang: $212.95 per tonne, up $3.74 per tonneHard coking coal, fob DBCT: $107.78 per...Read More
The Singapore Exchange's (SGX) 65% Fe iron ore derivatives contract - which is settled against Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao - set a new record for traded volumes at 6.19 million tonnes so far in January, SGX data - published on Monday January 25 - shows.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $169.16 per tonne, down $0.81 per tonne62...Read More
Prices for seaborne iron ore concentrate increased again in the week ended Friday January 22, supported by tight supply and strong demand for high-grade products amid steelmaking restrictions to cut emissions.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $194.69 per tonne, up $1.35 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $229.26 per tonne, down $0.02 per tonne.Key driver...Read More
China's hot-rolled coil prices weakened on Monday January 25, with trading activity slowing down ahead of the Chinese New Year.DomesticEastern China (Shanghai): 4,430-4,470 yuan ($684-690) per tonne, down 10-30 yuan per tonneA Shanghai-based trader said most sellers in the city were offering cargoes at around 4,430 yuan per tonne in the morning, before raising these offers to as high as 4,470 yuan...Read More
Tin and lead's forward prices on the London Metal Exchange had the biggest gains of Monday January 25, with the prospect of a Covid-19 economic stimulus being passed in the United States overshadowing concerns over the extension of lockdowns elsewhere in the world. Tin's three-month price rose by 1.8% on Monday at 9am to $22,360 per tonne, from Friday's closing price of $21,960 per tonne. The pric...Read More