An overview of the battery raw materials markets and their price moves from the past week.Read More
Copper rod consumers in the United States are canceling orders as the Covid-19 pandemic has dampened short-term demand for the commodity.Fastmarkets assessed the copper rod premium, ddp Midwest US at 16-18 cents per lb on Thursday May 7, down by 1 cent from 17-19 cents per lb previously.End consumers of copper rod, especially those exposed to the automotive sector, have seen a significant fall in...Read More
Rio Tinto is partnering on a project to develop a zero-emission bus made of aluminium, which will be tested in the Saguenay-Lac-Saint-Jean region of Quebec, Canada, next year. The bus, known as the Electrip, is fully electric and made with aluminium, Rio Tinto director of regional economic development Emmanuel Bergeron said, noting that it also offers greater accessibility for people with reduced...Read More
With the exception of that for zinc and nickel, deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses all fell in the week ended Friday May 8.Copper registered the largest decline in inventories in percentage terms, with total SHFE stocks declining to 204,219 tonnes on Friday; this marks a decrease of 26,737 tonnes (11.6%) from the 230,956 tonnes recorded on April 30. ...Read More
Automotive production in Brazil, Mexico and Argentina neared zero in April due to massive shutdowns stemming from the Covid-19 pandemic, affecting steel and scrap markets in each country.BrazilProduction in Brazil hit a record low of only 1,800 units, according to data released by national auto association Anfavea on Friday May 8, a decline of 99.3% from 267,600 units in April 2019."Carm...Read More
Brazilian slab export prices were stable during the week to Friday May 8, with fewer offers reported due to production cuts.Fastmarkets assessed the price for steel slab export, fob main port Brazil unchanged at $330-345 per tonne fob on May 8.Lower availability of slab continued to prevent price cuts during the week, with most producers' order books...Read More
Trading activity in China's domestic hot-rolled coil market thinned as prices strengthened on Friday May 8, while the country's demand for imports appeared to have led to higher offers for Indian HRC.DomesticEastern China (Shanghai): 3,380-3,390 yuan ($477-478) per tonne, up 10-40 yuan per tonneNorthern China (Tangshan): 3,340 yuan per tonne, unchangedA Shanghai-based trader said sellers kept thei...Read More
China's domestic rebar prices continued to strengthen on Friday May 8 on steady demand and rising futures. Domestic Eastern China (Shanghai): 3,500-3,540 yuan ($494-499) per tonne, up by 50 yuan per tonneNorthern China (Beijing) - weekly assessment: 3,450-3,500 yuan per tonne, up by 60 yuan per tonne Contractors maintained their active procurement rates to meet their daily use, sources said....Read More
Prices in Southeast Asia's steel billet market climbed over the past week due to surging demand from Chinese importers, sources told Fastmarkets.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $370-375 per tonne on Friday May 8, up by $5 per tonne from $365-370 per tonne on May 6.Befor...Read More
Prices for pig iron in the United States increased further during the week ended Friday May 8 due to new deals and a stronger scrap market.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $304-305 per tonne on Friday, up from $295-300 per tonne one week earlier.Fresh bookings for pig iron from the Commonwealth of Independent States were completed at $304-305...Read More
The market for pig iron exports from Brazil improved on new sales to the United States and China during the week ended Friday May 8.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $275-280 per tonne on Friday, narrowing upward from $270-280 per tonne a week earlier.A sale of high-phosphorous pig iron was concluded...Read More
The market for pig iron exports from the Commonwealth of Independent States went up again during the week to Thursday May 7 on sales to the United States.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $287-292 per tonne on May 7, up from $280-289 per tonne last week.Sales of both Ukraine- and Russia-origin pig iron were done during t...Read More
The seaborne iron ore market witnessed large price increases on Friday May 8 amid high prices in swap contracts and a general upturn seen on commodities such as rebar and copper. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.60 per tonne, up $4.25 per tonne 62% Fe low-alumina fines, cfr Qingdao: $90.92 per tonne, up $4.68 per tonne 58% Fe fines high-grade premium, cfr Qingd...Read More
Seaborne prices for premium hard coking coal rebounded on Friday May 8, which was partly attributed to active trading in China amid a wider rally in the commodities market during the day.Fastmarkets indicesPremium hard coking coal, fob DBCT: $110.43 per tonne, up $2.80 per tonne Premium hard coking coal, cfr Jingtang: $116.27 per tonne, up $1.25 per tonneHard coking coal, fob DBCT: $88.66 per tonn...Read More
Import prices for containerized scrap in Bangladesh continued to drop over the past week, while most major mills stayed out of the market for bulk cargoes amid high stock levels.No transactions for bulk cargoes were heard during the week but containerized scrap from Australia and Brazil changed hands at lower prices than previous weeks."There are mostly container sales of both shredded and [heavy...Read More
Demand for imported ferrous scrap remained elevated in South Korea over the past week with domestic prices rising due to the restart of some key industries, market sources told Fastmarkets on Friday May 8.After a sharp rise in South Korean Covid-19 cases during February and March, new infections have slowed to just a handful over recent days. On Wednesday, the government allowed offices, libraries...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Prices fluctuations for heavy melting scrap (HMS) imports in Taiwan have caused an unclear price outlook in the near term.Market participants from major supplier Japan had just returned from a holiday on Thursday May 7 and buyers were waiting for clearer price trends for Japanese cargoes."Taiwan had increased the purchases for Japanese materials in the past few weeks because of limited supply from...Read More
China's ferrous scrap prices moved up sharply over the past week due to tight supply, eating into the profits of mills that operate electric-arc furnaces.Fastmarkets' price assessment for steel scrap heavy scrap domestic, delivered mill China was 2,480-2,560 yuan ($350-361) per tonne including value-added tax on Friday May 8, up by 70-150 yuan per tonne from 2,330-2,490 yuan last Thursday. Sources...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 7 that are worth another look.The European Commission (EC) might start an anti-dumping case into imports of hot-rolled coil originating from Turkey, market sources told Fastmarkets on Thursday May 7.Mining companies are looking to trading houses and specialist funds for credit since lower metal prices and enforced shutdowns ha...Read More