An overview of the new energy materials markets and their price moves in the week to Friday October 8.Susan Zou, Yingchi Yang and...Read More
Some of the most important countries in global mining production are moving forward with talks to secure a larger share of the commodity price escalation seen during the Covid-19 pandemic, mostly to fund their own social programs - but companies and industry groups fear this could compromise future investments.South American mining giants Chile, Peru and Brazil seek to increase mining royalties, e...Read More
Prices for imports of steel scrap to South Korea have risen sharply over the past week amid a rise in export prices from Japan and the United States, market participants told Fastmarkets on Friday October 8.South Korea buys Japanese scrap at higher pricesLimited scrap import interest in China due to electricity rationingChina local scrap prices hold firm after holidaySouth KoreaSouth Korean import...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday October 8, with market participants in China returning after the Golden Week holiday.Nickel prices rebounded well this morning, with the three-month price hitting a high of $19,090 per tonne this morning.It was most recently trading at $18,855 per tonne, up $591 per tonne from Thursday's close. "[Th...Read More
Turkey and Russia have exhausted their permitted import quota allowances for certain long steel products within just days of renewal, Fastmarkets has observed from European Commission data.The import market for long steel products in the European Union has remained strained because of safeguard measures. The fourth-quarter quota for steel imports into the EU came into effect on October 1 and will...Read More
Fastmarkets analyst William Adams and reporter Alexander Cook size up the cobalt market ahead of LME Week, which begins Monday October 11.Cobalt got off to a quick start in 2021 due to strong demand growth from the electric vehicle (EV) sector, restocking and because of a constrained supply chain out of Africa. After starting the year at $15.30 per lb, Fastmarkets' benchmark standard grade cobalt...Read More
China's domestic rebar prices moved up on Friday October 8 on increased demand after the week-long holiday.DomesticEastern China (Shanghai): 5,910-5,950 yuan ($916-923) per tonne, up by 10-20 yuan per tonneNorthern China (Beijing): weekly assessment: 5,800-5,850 yuan per tonne, up by 100-110 yuan per tonneEnd-user demand was strong during the...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 8.Jessica Long, Zihao Li, Ruby Liu...Read More
Turkey and Russia have exhausted their permitted import quota allowances for certain long steel products within just days of renewal, Fastmarkets has observed from European Commission data.The import market for long steel products in the European Union has remained strained because of safeguard measures. The fourth-quarter quota for steel imports into the EU came into effect on October 1 and will...Read More
Global ferrous scrap prices increased in the week ended October 8 in response to improving downstream demand for billet and rebar.Turkish mills pay higher prices on improving downstream demandUnited States sells a bulk cargo to Turkey at a $5-per-tonne increaseVietnamese buyers opt for bulk HMS 1&2 (80:20) cargoes from US, AustraliaTaiwanese buyers continue to purchase containerized cargoesIndian...Read More
Trading activity in the United States' pig iron import market was low in the week to Friday October 8 due to uncertainty about the direction of prices.Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $540 per tonne on Friday, narrowing upward by $10 from $530-540 per tonne a week earlier. The only deal in the...Read More
The inter-merchant market for light-iron steel scrap in the United Kingdom was stable for a third week on Friday October 8, underpinned by firm fundamentals and relatively low domestic availability, trade sources told Fastmarkets.Major processors are offering steady prices to ensure enough scrap is being delivered into their yards, while market sentiment is also focused on the outcome of negotiati...Read More
The ferro-chrome market is facing growing pressure to decarbonize from downstream, with the need to cut carbon emissions becoming increasingly accepted among producers, traders and consumers.Alloys are not currently included in the Carbon Border Adjustment Mechanism (CBAM) - the European Commission's flagship policy to lower carbon emissions and defend domestic industries such as steel from extern...Read More
Import prices for containerized heavy melting scrap in Taiwan have increased this week, particular in the later half, with traders withholding offers amid growing optimism about trends in the spot market.Fastmarkets' daily price assessment for containerized steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan was $465-470 per tonne on Friday October 8, up by $3-7 per tonne from...Read More
Vietnamese ferrous scrap buyers are eschewing bulk Japanese scrap in favor of bulk deep-sea cargoes from the United States and Australia.There was a transaction concluded at $516 per tonne cfr Vietnam for a 27,500-tonne HMS 1&2 (80:20) cargo from Australia by a steel mill in southern Vietnam, and a transaction concluded at $520 per tonne cfr Vietnam for a HMS 1&2 (80:20) cargo from the United Stat...Read More
Global ferrous scrap prices increased in the week ended October 8 in response to improving downstream demand for billet and rebar.Turkish mills pay higher prices on improving downstream demandUnited States sells a bulk cargo to Turkey at a $5-per-tonne increaseVietnamese buyers opt for bulk HMS 1&2 (80:20) cargoes from US, AustraliaTaiwanese buyers continue to purchase containerized cargoesIndian...Read More
Some companies in China's battery materials supply chain have partially recovered operations after the power-cut policies before the National Day Holiday in China (October 1-7), while others await further instruction from local authorities on when production can be fully recovered, sources told Fastmarkets.Before China's National Day Holiday, the production of battery materials in Hunan, Jiangsu a...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
Some of the most important countries in global mining production are moving forward with talks to secure a larger share of the commodity price escalation seen during the Covid-19 pandemic, mostly to fund their own social programs - but companies and industry groups fear this could compromise future investments.South American mining giants Chile, Peru and Brazil seek to increase mining royalties, e...Read More
Fastmarkets' spot copper concentrates treatment/refining charge remained largely stable in the week to October 8.A few clean parcels were sold to smelters in the low-to-mid $60s during the week - still below the Chinese pricing floor of $70 per tonne targeted for fourth quarter procurement.Overall buying interest has remained low, with Chinese importers away for the most of...Read More