The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
Triland Metals has canceled its annual party, which was set to take place during LME Week in London on Monday October 19."We are living through unprecedented times and a great deal of uncertainty. The coronavirus pandemic has meant it is essential to limit social contact and avoid large gatherings," Triland chief executive office Martin Pratt said on May 26."It is also clear that global travel wil...Read More
Fastmarkets is proposing to amend the specification of its price assessment for ferro-tungsten basis 75% W, in-whs dup Rotterdam, $/kg W. According to preliminary market feedback, one-tonne big bags are the most commonly accepted packaging by consumers of ferro-tungsten in Europe and are regularly traded in the spot market. The proposed change will avoid potential price differential between d...Read More
LME three-month base metals prices, apart from zinc, closed up on Tuesday May 26, in part driven by the impact of China's ongoing monetary easing policy and the onset of economic restarts across Europe. A speech given today by People's Bank of China governor Yi Gang buoyed London Metal Exchange base metals prices at the beginning of the day's trading, according to INTL FC Stone's Natalie Scot...Read More
The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
After a consultation period, which ended on May 21, Fastmarkets is reducing the frequency of its lead premium price assessments for the Indian and Southeast Asian markets.The following four price assessments will now be published once every two weeks on Tuesday, instead of weekly. Changes will take effect from Tuesday May 26. MB-PB-0087 - Lead 99.97% ingot premium, cif India, $...Read More
Vale Canada has entered into a 60-day exclusivity period with Australian specialist zinc miner New Century Resources to negotiate the sale of a 95% stake in Vale New Caledonia (VNC), Fastmarkets understands.Subject to successful due diligence and negotiation, New Century will take majority ownership of VNC while Soci?(C)t?(C) de participation mini??re du Sud cal?(C)donien will retain the remaining...Read More
Triland Metals has canceled its annual party, which was set to take place during LME Week in London on Monday October 19."We are living through unprecedented times and a great deal of uncertainty. The coronavirus pandemic has meant it is essential to limit social contact and avoid large gatherings," Triland chief executive office Martin Pratt said on May 26."It is also clear that global travel wil...Read More
From future raw material investments to China's resurgence in lithium-iron-phosphate (LFP) battery chemistries, Fastmarkets analysts and reporters consider six key discussion points dominating the battery and electric vehicle markets. The below themes were raised from questions during Fastmarkets' webinar "Covid-19 and the battery raw materials supply chain" on May 19. To listen again to the webin...Read More
Domestic prices for hot-rolled coil in Northern Europe dropped further during the week to Friday May 22, due to low trading activity.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?407.50 ($443.92) per tonne on Friday, down by ?,?4.38 per tonne week on week and down by ?,?37.50 per tonne month on month.Friday's index was calculated based on deals and "workable...Read More
Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on Tuesday May 26, but output was unaffected, the company said.A group of company employees used trucks to block the entrance to the plant to protest Tata Steel's policy in the Netherlands."We can confirm a number of employees took unplanned action near the gates of our IJmuiden steelmaking site in the Netherla...Read More
CIS export slab prices have continued to climb in the second half of May, supported by Turkish customers accepting higher-priced deals.A 30,000-tonne cargo of Ukrainian slab was reported sold last week at $360 per tonne cfr Turkey, equivalent to around $350 per tonne fob Black Sea, sources told Fastmarkets.Turkish customers accepted higher slab offers following a surge in domestic and export...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged day on day on Tuesday May 26 while trading activity remained low, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe held at ?,?407.50 ($447.03) per tonne on May 26, flat from Friday May 22.Tuesday's index was calculated based on deals and "workable" prices heard at ?,?400-410...Read More
Flat steel prices in Russia's Central Federal District around Moscow declined in the week to Tuesday May 26 amid slow demand and an oversupplied market, sources told Fastmarkets.Buying activity in the region remained limited over the past week and key suppliers to the region cut offers for June rolling and revised stockist prices down for May rolling, sources said."Mills have huge stocks they need...Read More
Crude steel production in Germany fell by 23.85% year on year in April due to production cuts made to reflect the drop in demand caused by the Covid-19 pandemic, the German steel federation said this week.Germany's crude steel production totaled 2.56 million tonnes in April 2020, down from 3.56 million tonnes in the corresponding period of 2019, WV Stahl said on Monday May 25.The last time ou...Read More
Oversupply in the steel rebar market in Russia's Central Federal District around Moscow is a cause for concern, sources told Fastmarkets on Tuesday May 26, although prices remained largely unchanged week on week. Construction, the key consumer, was still running slowly after a gradual restart in the wake of the Covid-19 lockdown restrictions, sources said"Yes, the construction activity has im...Read More
Turkish deep-sea scrap import prices remained broadly stable on Tuesday May 26 after news of a fresh cargo came to light. The transaction which came to light on Monday was sold either on Sunday May 24 or Monday May 25, sources said. The market was relatively quiet at the beginning of the week due to a public holidays in many countries on...Read More
Steelmaker ArcelorMittal is to receive a ?,?75 million ($82 million) loan from the European Investment Bank (EIB) to be used on its projects intended to reduce carbon emissions.Two projects will operate at ArcelorMittal's Ghent location in Belgium. These are worth ?,?215 million in total and are hoped to eliminate as much as 350,000 tonnes per year of CO2 emissions in the first phase.The first pro...Read More
Seaborne premium hard coking coal prices dropped on Tuesday May 26, due to recent lower transaction values, while most market participants now expect prices to remain flat for some time.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.36 per tonne, down $2.91 per tonne Premium hard coking coal, cfr Jingtang: $124.37 per tonne, down $1.04 per tonneHard coking coal, fob DBCT:&nb...Read More
Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite there being no upward movement in their steel sales prices, sources in Japan have told Fastmarkets.On Tuesday May 26, key EAF mill Tokyo Steel raised its bid price for steel scrap by ?500 ($5) per tonne at all its steelworks except in Tahara, wh...Read More