European copper producer Aurubis has begun the process to gain the International Copper Alliance's (ICA) Copper Mark at its metal processing facility in Pirdop, Bulgaria, it said on Friday July 24. Aurubis will sign a letter of commitment to the Copper Mark, whereby the plant will agree to subject itself to a six-month criteria self-assessment. Following this, an external assessment will commence...Read More
The Chinese domestic alumina price fell on Thursday July 23 in response to plans to resume idled alumina capacities and due to a contracting aluminium price on the Shanghai Futures Exchange. Market sources told Fastmarkets 2.1 million tonnes of idled alumina capacity will restart at the end of July while another 1 million is expected to resume in August. The decision to restart the capacity was ta...Read More
Rusal's Krasnoyarsk aluminium smelter in Russia has completed its transition to a process known as EcoSoderberg as part of the company's modernization and environmental program, the aluminium producer said on Friday July 24. The EcoSoderberg process significantly reduces emissions - particularly for emissions of tarry materials - at its second-largest smelter, which has a nameplate capacity of 1.0...Read More
The nickel sulfate price in China rose by 1.1% week on week on Friday July 24, supported by firm producer offers and limited spot supply. Fastmarkets assessed the nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China price at 23,200-23,500 yuan ($3,306-3,349) per tonne on Friday, up from 23,000-23,2000 yuan per tonne a prior week. Domestic nickel sulfate producers held their offers f...Read More
Lead stocks in Shanghai Futures Exchange-registered warehouses recorded the largest decrease in percentage terms in the base metals complex in the week to Friday July 24, losing 12.6 %, or 5,111 tonnes, to total 35,436 tonnes.The largest drawdown came from the Zhejiang Tianchuan warehouse in Zhejiang province, with inventories of the heavy metal down by 3,289 tonnes at 19,299 tonnes compared with...Read More
ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on Thursday July 23.The L??zaro C??rdenas city authorities claim that ArcelorMittal has failed to pay its full property taxes in the past six years, and have demanded payment of 1...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday July 24 despite a seasonal demand decline, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?408.21 ($474.95) per tonne on July 24, up by just ?,?0.52 per tonne from ?,?407.69 per tonne on Thursday July 23.Friday's index...Read More
Domestic steel rebar producers in Poland increased their prices as expected in the week to Friday July 24, although so far buyers have been reluctant to accept the new levels, sources told Fastmarkets.Buying activity started to slow this week due to the onset of the vacation season, sources said.The construction sector was still performing well in the country, but even however, things be...Read More
Indian mills have achieved an increase of $15 per tonne in their export prices for hot-rolled coil in the week ended Friday July 24, on exports to South-east Asia and Africa.The price of steel hot-rolled coil (commodity), export, fob main port India, was assessed by Fastmarkets at $465-470 per tonne on July 24, up by $15 per tonne compared with last week's assessment at $450-455 per tonne fob Indi...Read More
Global ferrous scrap prices across all key markets surged during the week to Friday July 24, with the momentum showing no sign of easing, according to market sources. Turkey continues to book more deep-sea cargoes United States prices move up on Turkish buying Vietnam scrap gets swept up in global increase Taiwan fails to halt price increases India sees improvement on price despite weak sentiment...Read More
Pig iron export prices from Brazil went up again during the week to Friday July 24 on a new sale to China and a new sale to the United States. Fastmarkets' price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $322 per tonne on Friday, up from $320 per tonne a week earlier.A new cargo was sold to an international trader for the...Read More
The inter-merchant spot market for light iron scrap in the UK was steady over the week to Friday July 24, consolidating a small increase from the previous week, with relatively low levels of scrap coming into yards, industry sources said.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was unchanged at ?85-95 ($108-121) per tonne on...Read More
No activity was again reported in the United States' spot import pig iron market during the week ended Friday July 24, with pig iron prices still considered high compared with those for scrap and demand weak amid low utilization rates.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US was $327-330 per tonne on Friday, widening downward from $330 per tonne a...Read More
The price of ferrous scrap imported into India in containers moved up in the week to Friday July 24, despite market expectations for demand to remain subdued until later in the year, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $285.96 per tonne on Friday, up $4.50 from $281.46 per tonne a week earlier.A deal was heard at $285...Read More
Turkish steel mills stayed out of the deep-sea scrap market on Friday July 24, but still ended the week having booked around 248,000 tonnes of scrap, sources told Fastmarkets.Despite the quiet Friday, news emerged of a US cargo booked on Wednesday July 22, with a steel mill in the Iskenderun region making the booking at $269.50 per tonne cfr for HMS 1&2 (80:20). The cargo composition was not clear...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) was firm during the week ended Thursday July 23, on continued demand in China and resumed interest in Turkey.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $319-324 per tonne on July 23, widening from $320-323 per tonne a week before.One sale of 60,000 tonn...Read More
Seaborne iron ore prices fell on Friday July 24, following a downturn in the futures market amid growing concerns over escalating tensions between China and the United States. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $109.39 per tonne, down $0.73 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $111.56 per tonne, down $1.24 per tonne. 58% Fe fines high-grade premium, cfr...Read More
Seaborne coking coal prices were relatively stable across the board on Friday July 24, with Chinese steel mills that still have import quotas preferring higher-quality material, sources told Fastmarkets.Fastmarkets indices Premium hard coking coal, fob DBCT: $108.22 per tonne, down $0.80 per tonne Premium hard coking coal, cfr Jingtang: $119.39 per tonne, up $0.70 per tonne Hard coki...Read More
Three-month base metals prices on the London Metal Exchange softened during morning trading on Friday July 24, with positive manufacturing data out of Europe and a continued drawdown in LME stocks doing little to stop a complex-wide correction, that saw most metals decline by more than 1%. Leading on the downside this morning, LME nickel's outright price was recently at $13,475 per tonne, notching...Read More
The base metals were polarized this morning, Friday July 24, with prices on the London Metal Exchange down across the board, while the opposite was true for those on the Shanghai Futures Exchange.Asian-Pacific equities and major western pre-market equity futures indices were in negative territory this morning. Haven assets like gold, US treasuries and the yen are all pointing to a pick-up in inves...Read More