China's leading stainless steel producer, Tsingshan Group, has raised its ferro-chrome tender price for June delivery by 500 yuan ($70) per tonne month on month.The move has come with the prices for chrome ore and imported charge chrome both surging on supply tightness created by the measures used to try to control the outbreak of Covid-19 in South Africa.The mill, whose base is in Eastern China,...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 21 that are worth another look.The recently opened anti-dumping investigation into Turkish exports of hot-rolled coil to the EU fails to comply with the principles of the Customs Union and Free Trade Agreements between Turkey and the European Commission (EC), the Turkish Steel Producers' Association (TCUD) told Fastmarkets on...Read More
Hebei Steel, China's second-largest steel mill, has finalized its purchase price for June-delivery silico-manganese at 7,400 yuan ($1,042) per tonne, market participants told Fastmarkets on Thursday May 21. The latest price is 100 yuan per tonne, or 1.3%, lower than the purchase price of 7,500 yuan per tonne for May-delivery cargoes.The price from Hebei Steel, which is for cargoes delivered to war...Read More
Copper stocks in London Metal Exchange-registered warehouses in Rotterdam have been steadily rising over May, indicating weak European copper consumption during a period of heightened economic uncertainty. And with manufacturing in the region still reeling from the effect of Covid-19 on supply chains, market participants are pessimistic that improvements will come this year. Total LME stocks in Ro...Read More
The three-month zinc price on the London Metal Exchange tumbled at the close of trading on Thursday May 21, losing some 3.6% in an afternoon downturn, while a fall in US unemployment claims failed to boost market sentiment.Zinc's outright price on the LME closed at $1,983.50 per tonne on Thursday afternoon, falling from an intraday high of $2,048 per tonne, while turnover was strong at more than 9...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 21 that are worth another look.The recently opened anti-dumping investigation into Turkish exports of hot-rolled coil to the EU fails to comply with the principles of the Customs Union and Free Trade Agreements between Turkey and the European Commission (EC), the Turkish Steel Producers' Association (TCUD) told Fastmarkets on...Read More
Copper stocks in London Metal Exchange-registered warehouses in Rotterdam have been steadily rising over May, indicating weak European copper consumption during a period of heightened economic uncertainty. And with manufacturing in the region still reeling from the effect of Covid-19 on supply chains, market participants are pessimistic that improvements will come this year. Total LME stocks in Ro...Read More
Copper stocks in London Metal Exchange-registered warehouses in Rotterdam have been steadily rising over May, indicating weak European copper consumption during a period of heightened economic uncertainty. And with manufacturing in the region still reeling from the effect of Covid-19 on supply chains, market participants are pessimistic that improvements will come this year. Total LME stocks in Ro...Read More
The three-month zinc price on the London Metal Exchange tumbled at the close of trading on Thursday May 21, losing some 3.6% in an afternoon downturn, while a fall in US unemployment claims failed to boost market sentiment.Zinc's outright price on the LME closed at $1,983.50 per tonne on Thursday afternoon, falling from an intraday high of $2,048 per tonne, while turnover was strong at more than 9...Read More
Seaborne iron ore prices rebounded on Thursday May 21 with active trading driven by improving steel production and demand, despite renewed concerns over supplies from Brazil. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $98.26 per tonne, up $1.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $101.63 per tonne, up $2.09 per tonne. 58% Fe fines high-grade premium, cfr Q...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US flat product prices outperformed our expectations over the past month. In an attempt to lend the market confidence that sheet prices had reached a floor, US steel mills announced price increases of $50-60 per ton at the end of April. In the announcement, mills cited the expectation of higher scrap prices, tight domestic s...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Activity in China has picked up, and although the impact from the Covid-19 did not spare the country with its gross domestic product contracting at its largest rate since recording began in the 1990s, the latest crude steel output figures for April from China's National Bureau of Statistics show a strong recovery, albeit sti...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved down slightly due to poor trading activity, sources told Fastmarkets on Thursday May 21.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?409.17 ($448.48) per tonne on Thursday, down by ?,?0.83 per tonne from ?,?410 per tonne on Wednesday.Thursday's index was calculated based on "workable" prices...Read More
Turkish steel producers resumed their deep-sea scrap bookings as expected on Thursday May 21, but prices rapidly increased because of the improving demand, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (95:5) at $254.50 per tonne, 7,000 tonnes of shredded at $257.50 per tonne and 3,000 tonnes of bonus at $262.50 per tonne cfr....Read More
The United States is uniquely positioned to keep a leadership role in energy independence while it transitions to a low-carbon footprint, the chief executive officer of Enertopia Corp (ENRT) has said.According to Robert McAllister, the large landmass of the United States is ideal for wind-power generation and for high solar isolation, a requirement for peak solar photovoltaics production.These geo...Read More
A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) in the first quarter, as reported by parent company Votorantim on Thursday May 21. In brief The Covid-19 pandemic affected aluminium demand in Brazil, particularly from the transportation and construction sectors, during the first quarter, CBA said. Sales volumes from the downst...Read More
The LME three-month zinc price fell 1.8% on moderately high turnover in morning trading on Thursday May 21, while the fresh cancelation of 21,775 tonnes in LME copper kept the red metal's outright price elevated. Zinc's underlying price on the London Metal Exchange was recently seen at $2,006.50 per tonne on Thursday morning, falling from an intra-morning high of $2,048 per tonne, while turnover w...Read More
Global refined zinc production exceeded consumption by 240,000 tonnes in January-March this year in large part due to a rise in Chinese smelting of the metal, the International Lead & Zinc Study Group said in its latest market roundup. Refined zinc production the world over rose to 3.314 million tonnes in the first quarter, up from 3.212 million in the same period of 2019. Meanwhile, usage for the...Read More
Fastmarkets has corrected the LME copper and lead cash and 3 month settlement ? per tonne prices, which were published incorrectly on Monday May 18 due to an input error.The figure were previously published as:Copper LME Cash ? per tonne: ?4,195.482Copper LME 3 Months Settlement ? per tonne: ?4,218.375Lead LME Cash Settlement ? per tonne: ?1,301.918Lead LME 3 Months Settlement ? per tonne:...Read More
The recently opened anti-dumping investigation into Turkish exports of hot-rolled coil to the EU fails to comply with the principles of the Customs Union and Free Trade Agreements between Turkey and the European Commission (EC), the Turkish Steel Producers' Association (TCUD) told Fastmarkets on Thursday May 21.The EC started an anti-dumping investigation into imports of hot-rolled coil originatin...Read More