The blockade at the Las Bambas copper mine in Peru has been partially ended on a temporary basis pending a dialogue between local community members and mining company MMG, Fastmarkets learned on Thursday January 7. But the path to a resolution remains uncertain, a source with direct knowledge of the matter said. Meanwhile, transport of copper concentrate is still minimal because it will take time...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 7 that are worth another look.The provisional anti-dumping duties imposed on imports of Turkish hot-rolled coil by the European Commission are neither reasonable nor fair, Turkish steel exporters told Fastmarkets on January 7.The blockade...Read More
The Chinese alumina price rose slightly this week following a spate of panic buying after railway transport in Shijiazhuang, in the northern Chinese province of Hebei, was suspended amid a rise in Covid-19 infections, market participants told Fastmarkets. All trains arriving in or departing from Shijiazhuang, the capital city of Hebei, have been canceled since Wednesday January 6. Shijiazhuang Cit...Read More
The blockade at the Las Bambas copper mine in Peru has been partially ended on a temporary basis pending a dialogue between local community members and mining company MMG, Fastmarkets learned on Thursday January 7. But the path to a resolution remains uncertain, a source with direct knowledge of the matter said. Meanwhile, transport of copper concentrate is still minimal because it will take time...Read More
China Copper's raw materials director Feng Mingrui will be the next group leader of the country's top copper smelters after a tie vote at a recent meeting, sources told Fastmarkets.Feng, who previously worked at Daye Nonferrous and Trafigura, received the same number of votes as Jinchuan Group's Yang Xiangbin at a meeting of the China Smelters Purchase Team (CSPT) in late December.The CSPT eventua...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 7 that are worth another look.The provisional anti-dumping duties imposed on imports of Turkish hot-rolled coil by the European Commission are neither reasonable nor fair, Turkish steel exporters told Fastmarkets on January 7.The blockade...Read More
Spot cobalt hydroxide payables surged in the first half of this week with Chinese consumers actively seeking units while logistical bottlenecks continued to cap suppliers' ability to deliver January cargoes. Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China moved up to 86-88.5% against standard-grade cobalt price (low end) on Wednesday January 6, from 82-83%...Read More
Turkish steelmakers continued to book deep-sea scrap cargoes for February and March shipment at firm prices, sources said on Thursday January 7.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $480 per tonne, 22,000 tonnes of shredded and 10,000 tonnes of bonus at $490 per tonne cfr.And a steel mill in the Izmir region booked a Baltic Sea cargo a...Read More
Prices for plate and structural-grade scrap (P&S), known as HS in Japan, have shown a slight increase over the past week on strong demand from mills in both Japan and China, sources told Fastmarkets on Thursday January 7.China booked at least four steel scrap cargoes from Japan in the first week of 2021 following an easing in the country's import regulations, with most of these deals done for HS h...Read More
Markets remained upbeat on the morning of Thursday January 7 despite the outbreak of violence in Washington, DC, with nickel joining copper and tin in setting fresh new multi-month highs but gold turning lower.Asian-Pacific equities generally upbeat, along with pre-market western equity index futures as the US Democrats win the Senate US 10-year treasury yields continue to rise Base metals Th...Read More
Spot cobalt hydroxide payables surged in the first half of this week with Chinese consumers actively seeking units while logistical bottlenecks continued to cap suppliers' ability to deliver January cargoes. Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China moved up to 86-88.5% against standard-grade cobalt price (low end) on Wednesday January 6, from 82-83%...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 7 that are worth another look.The provisional anti-dumping duties imposed on imports of Turkish hot-rolled coil by the European Commission are neither reasonable nor fair, Turkish steel exporters told Fastmarkets on January 7.The blockade...Read More
European buyers expected that domestic hot-rolled coil prices would continue to rise in January and in the rest of the first quarter, due to good order books at domestic mills and a lack of competitive imports, sources told Fastmarkets on Thursday January 7.During the first week of January, however, domestic prices have remained fairly stable in a seasonally slow market.Fastmarkets calculated its...Read More
The European Commission has set 4.8-7.6% provisional anti-dumping duties on hot-rolled coil originating from Turkey, effective Wednesday January 6. The EC calculated preliminary duties for Habas at 4.80%; for Erdemir at 5.40%; for Agir Haddecilik and Borcelik at 5.90%; and for Colakoglu and all other companies at 7.60%, according to the Official Journal of the European Union. The product concerned...Read More
Steel reinforcing bar spot prices in the United States continue their scrap-driven ascent, according to market participants.Fastmarkets assessed the price of steel reinforcing bar (rebar), fob mill US, at $37.75 per hundredweight ($755 per short ton) on Wednesday January 6, up by 2% from the previous assessment of $37 per cwt. Domestic rebar prices are closing in on $38 per cwt, a level which has...Read More
Steel billet and rebar prices have remained stable in Egypt in the week ending Thursday January 7 because of low levels of market activity, market sources have told Fastmarkets.January 7 was the Coptic Christmas in Egypt, and trading was subdued in the days before the holiday.Market participants now wanted to see the direction that prices might move globally before placing orders.Demand for rebar...Read More
Domestic long steel prices in Turkey have increased over the past week thanks to rising scrap costs, but demand is weak because local buyers are struggling with the higher prices, sources told Fastmarkets on Thursday January 7.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 5,500-5,700 lira ($750-777) per tonne on Thursday, widening up from th...Read More
Turkish steelmakers continued to book deep-sea scrap cargoes for February and March shipment at firm prices, sources said on Thursday January 7.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $480 per tonne, 22,000 tonnes of shredded and 10,000 tonnes of bonus at $490 per tonne cfr.And a steel mill in the Izmir region booked a Baltic Sea cargo a...Read More
Prices for plate and structural-grade scrap (P&S), known as HS in Japan, have shown a slight increase over the past week on strong demand from mills in both Japan and China, sources told Fastmarkets on Thursday January 7.China booked at least four steel scrap cargoes from Japan in the first week of 2021 following an easing in the country's import regulations, with most of these deals done for HS h...Read More
Seaborne iron ore prices maintained their upward trend across the board on Thursday January 7, with lump premiums also continuing to rise because of firm demand, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.69 per tonne, up $2.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $172.25 per tonne, up $3.50 per tonne58% Fe fines high-grade premium,...Read More