The United States has lowered its tariffs on steel imports from Turkey to 25%, from the previous 50%, effective Friday May 17.The move reverses a decision by US President Donald Trump in August last year to impose higher tariffs on US imports of Turkish aluminium and steel amid an escalation in tensions between the two countries.Turkey exported 6 tonnes of hot-rolled coil under HS code 7208 to the...Read More
Swedish state-owned iron-ore producer LKAB is to appoint Markus Pet??j??niemi to the role of senior vice president, where he will lead the newly formed market and technology unit, the company said on Thursday May 16.Pet??j??niemi, who will take up the role on June 1, was previously acting senior vice president and led the technology and process development team, which will now fall under the marke...Read More
Feralpi Stahl will raise capacity at its rebar and wire rod rolling mill in Riesa in the Saxony region of Germany to 1.3 million tonnes per year, the German division of Italy-based steelmaker Feralpi Group said.The company will invest ?,?60 million ($67.33 million) over a two-year period to increase capacity at Riesa, it said on Wednesday May 15."The investment will strengthen the current producti...Read More
The global billet market saw an improvement in sentiment in the Commonwealth of Independent States and the Middle East-North Africa region after the United States reduced its steel import duties against Turkey.The US lowered its tariffs on steel imports from Turkey to 25% from 50%, effective Friday May 17.This immediately sent import scrap prices up in Turkey as Turkish steel producers resumed the...Read More
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange triggered the cancellation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.Almost 45,000 tonnes of material were freshly canceled on Friday May 17, predominantly out of registered warehouses in Johor and Singapore. More than 30,000 tonnes were canceled across the same location...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 17 that are worth another look.The United States will give a 180-day window to its auto trading partners to reduce imports of automobiles and certain automobile parts, essentially delaying potential Section 232 tariffs on these products, the White House said on Friday May 17. On the same day, US President Donald Trump an...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange triggered the cancellation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.Almost 45,000 tonnes of material were freshly canceled on Friday May 17, predominantly out of registered warehouses in Johor and Singapore. More than 30,000 tonnes were canceled across the same location...Read More
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange triggered the cancellation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.Almost 45,000 tonnes of material were freshly canceled on Friday May 17, predominantly out of registered warehouses in Johor and Singapore. More than 30,000 tonnes were canceled across the same location...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 17 that are worth another look.The United States will give a 180-day window to its auto trading partners to reduce imports of automobiles and certain automobile parts, essentially delaying potential Section 232 tariffs on these products, the White House said on Friday May 17. On the same day, US President Donald Trump an...Read More
The swing back into contango in the nearby aluminium forward curve on the London Metal Exchange moving triggered the cancelation of more than 90,000 tonnes of aluminium in LME-bonded warehouses this week.Almost 45,000 tonnes of material were freshly canceled on Friday May 17, predominantly out of registered warehouses in Johor and Singapore. More than 30,000 tonnes were canceled across the same lo...Read More
Representatives of Chilean state-owned copper producer Codelco will make their final wage and bonus offer to three workers' trade unions for the Chuquicamata mine division by May 24, the unions said on Friday May 17.The unions will have up to five days to schedule a vote on the proposal, the unions added.Workers are demanding active participation in the company's transformation plans; better healt...Read More
Copper concentrates treatment and refining charges (TC/RCs) continued to edge down in the second week of May due to traders snapping up tender tonnages at low numbers, while smelters became hesitant in spot purchases. Fastmarkets' Asia-Pacific TC/RC index dipped to $59.10 per tonne/5.91 cents per lb on Friday May 17, compared with $59.60 per tonne/5.96 cents per lb a week ago. The benchmark c...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Copper concentrates treatment and refining charges (TC/RCs) continued to edge down in the second week of May due to traders snapping up tender tonnages at low numbers, while smelters became hesitant in spot purchases. Fastmarkets' Asia-Pacific TC/RC index dipped to $59.10 per tonne/5.91 cents per lb on Friday May 17, compared with $59.60 per tonne/5.96 cents per lb a week ago. The benchmark c...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The price of bauxite imported into China will continue rising gradually over the next 5-10 years on stronger domestic demand, chief executive officer of Metro Mining Simon Finnis told Fastmarkets at the Alumina & Bauxite Conference held in Zhengzhou on May 16-17.China's increased aluminium production capacity and limited bauxite output following stricter bauxite mining requirements has led the cou...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Rumors that around 1,000 tonnes of bismuth held in Fanya warehouses may be auctioned dampened buying interest in China, causing the domestic Chinese bismuth price to plunge by 4% week on week on Friday May 17. Fastmarkets assessed the Chinese domestic bismuth price at 41,000-44,000 yuan ($5,959-6,395) per tonne on Friday, down from 43,000-45,500 yuan per tonne a week earlier. The latest price...Read More
The global ferrous scrap markets continued to move downward during the week ended Friday May 17, except in Turkey, but a recovery was expected for most markets following the cut to the US import tariff on Turkey-origin steel. Prices begin recovery after US reduces Turkey tariff US export prices down on earlier Turkish sales Taiwan prices down on lower bids; Vietnam prices stable Indian market cont...Read More