The following Fastmarkets minor metals prices changed on Friday May 24:Minor metalsAntimony MB free market regulus, $/tonne: $6,700-6,950 per tonne from $6,800-7,000Antimony MMTA standard grade II, $/tonne: $6,500-6,750 per tonne from $6,600-6,750Bismuth MB China domestic, yuan/tonne: 41,500-44,000 yuan per tonne from 41,000-44,000 yuanChromium...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. Read More
Belgian battery-materials manufacturer Umicore SA has reached an agreement with Freeport Cobalt to acquire the latter's cobalt refining and cathode precursor business at the Kokkola refinery in Finland. The transaction is expected to be finalized by the end of 2019, and Umicore will pay a total consideration of $150 million on a debt and cash free basis, plus the value of the working capital to be...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday May 24. China Taiyuan Iron & Steel (Tisco) released its June tender price for high-carbon ferro-chrome at 6,550 yuan ($947) per tonne on Friday May 24, 350 yuan per tonne lower than its May tender. Two other major Chinese stainless steel mills, Tsingshan and Baosteel, have yet to release June tende...Read More
The market for aluminium 226 ingot fell to its lowest level since November 2009 on Friday May 24 after rumors of distressed selling in Italy exacerbated already weak demand from the European automotive sector. Fastmarkets assessed the price for aluminium diecasting ingot 226 at ?,?1,340-1,380 ($1,495-1,539) per tonne on Friday, down by ?,?40 per tonne from ?,?1,380-1,430 per tonne the previou...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday May 24:Aluminium scrapFloated Frag: ?,?940-980 per tonne from ?,?990-1,040Cast: ?,?880-900 per...Read More
Asian ferrous scrap buyers have continued to keep their purchases limited over the past week, cautioning against excessive optimism about trade relations between the United States and Turkey.While price levels have increased in Taiwan, many South Korean and Vietnamese buyers are still staying away from purchasing imported HMS 1&2 scrap despite prices in key bellwether market Turkey increasing.&nbs...Read More
Following market feedback and the consultation of market participants, Fastmarkets proposes to launch a daily cfr Vietnam containerized ferrous scrap price assessment.The introduction of the price assessment will expand Fastmarkets' price coverage of the ferrous scrap markets in Asia and highlight Vietnam's rising importance as a price benchmark in the region. The proposed new assessment will prov...Read More
Aluminium's three-month price on the London Metal Exchange was the only metal to trade in positive territory at the close of trading on Thursday April 23, climbing by just under 1% to near $1,800 per tonne. News that operations would fully resume at Norsk Hydro's Alunorte alumina refinery in Brazil sent the light metal's futures price spiraling to a three-year low of $1,765.50 per tonne, however i...Read More
Base metals prices on the London Metal Exchange were lower during morning trading on Thursday May 23, with continued trade friction between the United States and China fueling risk-off sentiment while tight nearby spreads failed to attract fresh inflows. "Today has started in much the same mode with the metals losing ground in the Asian session," Kingdom Futures director and chief executive Malcol...Read More
Energy storage in mobility and stationary storage applications will increase annual copper demand by 2.3 million tonnes by 2029, according to an analyst at research and consulting firm IDTechEx.Na Jiao said that total cumulative copper demand in energy storage over the next decade will be just over nine million tonnes. Energy storage - and battery technology in particular - is often seen as having...Read More
The Chinese domestic cobalt sulfate price hit a fresh low for 2019 mid-week amid persistent selling pressure among producers who are mostly struggling to break even, sources said.Fastmarkets' assessment of the price for Chinese cobalt sulfate fell to 44,500-45,500 yuan ($6,444-6,589) per tonne on Wednesday May 22, down from 46,000-48,000 yuan per tonne previously. This placed the assessment at its...Read More
The Turkish steel producers have broken their silence in the deep-sea scrap markets with prices increasing sharply, sources said on Thursday May 23.Four steel mills booked deep-sea cargoes from various sources late on Wednesday and on Thursday.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $310 per tonne and 5,000 tonnes of shredded at $315 per...Read More
The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week. The US has lowered its tariffs on steel imports from Turkey to 25% effective Friday May 17. Duties had been at...Read More
European Metal Recycling (EMR) has sold parts of specialty scrap recycler Metal & Waste Recycling (M&W) to UK-based Recycling Lives following a competition inquiry. As part of the transaction, the two London-based sites of M&W will be retained by EMR. The sale will complete on Thursday May 30, EMR said. The disposal comes following an intervention by...Read More
The Chinese domestic cobalt sulfate price hit a fresh low for 2019 mid-week amid persistent selling pressure among producers who are mostly struggling to break even, sources said.Fastmarkets' assessment of the price for Chinese cobalt sulfate fell to 44,500-45,500 yuan ($6,444-6,589) per tonne on Wednesday May 22, down from 46,000-48,000 yuan per tonne previously. This placed the assessment at its...Read More
Energy storage in mobility and stationary storage applications will increase annual copper demand by 2.3 million tonnes by 2029, according to an analyst at research and consulting firm IDTechEx.Na Jiao said that total cumulative copper demand in energy storage over the next decade will be just over nine million tonnes. Energy storage - and battery technology in particular - is often seen as having...Read More
China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marab??, a city in the Brazilian northern state of Par??, through its local subsidiary Concremat, the company said on Thursday May 23.Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in c...Read More
The negative trend in prices in the EU market for hot-rolled coil (HRC) has softened and prices have now stabilized, market sources told Fastmarkets on Thursday May 23.Domestic prices might start to recover slowly in the second half of June, some market participants added.Some European flat steel producers, including ArcelorMittal and Marcegaglia, have increased their official offers of HRC while...Read More