The following Fastmarkets non-ferrous European free market scrap prices changed on Friday April 26:Aluminium scrapFloated Frag: ?,?1,030-1,065 per tonne from ?,?1,030-1,075Cast: ?,?930-950 per...Read More
Vietnamese buyers have shifted their purchasing focus to Japanese H2 ferrous scrap in light of falling prices in the domestic Japan markets.However, prices in Taiwan rebounded on the back of firmer prices from key supplier the United States.Some market participants think that ferrous scrap prices have reached the bottom and will rebound soon, although others feel that more price falls will come du...Read More
Tata Steel aims to produce 32 million tonnes per year of crude steel at its Indian operations by 2025, the company said.The 2025 capacity target in India would constitute the entirety of the steelmakers' global crude capacity following the planned divestment of operations in Asia and a planned joint venture of European flat steel operations with Germany's ThyssenKrupp.Of the Indian steelmaker's cu...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Thursday April 25, with the upward price action capped by broad strength in the US dollar index, while fresh cancelations fail to galvanize lackluster price action. Copper's three-month price fell to a low of $6,355 per tonne over the afternoon, its lowest price since March 27 amid an uptick in the US doll...Read More
Comex copper prices failed to maintain the previous day's gains amid a surging dollar on Thursday April 25, which is putting downward pressure on most of the base metals prices. The copper price for May settlement on the Comex division of the New York Mercantile Exchange tumbled 3.8 cents to $2.8720 per lb. The red metal has been unable to set a clear price direction over the past few weeks, with...Read More
A summary of Nornickel's production results for the first quarter of 2019 between January and March.IN BRIEF: First-quarter copper production for 2019 was up 13% year on year to 127,000 tonnes as a result of a production ramp-up at the Bystrinsky (Chita Copper) Project in Chita, Sibera.2019 first-quarter nickel production exceeded that of 2018...Read More
Australia-based King Island Scheelite has signed an offtake agreement for tungsten concentrate with Austrian producer of refined tungsten Wolfram Bergbau und Hutten AG (WBH), it announced this month. The offtake agreement is for the delivery of 140,000 metric tonne units (mtu) of tungsten trioxide in concentrate, or 1,400 tonnes of tungsten trioxide over a four-year period. This equates to the exp...Read More
Falling UG2 chrome ore prices in April have been partly caused by ferro-chrome smelters in China selling their raw material back to the market, sources told Fastmarkets. Fastmarkets' UG2 chrome ore index, cif China, has dropped every week so far in April and stands at $169 per tonne as of Tuesday April 23, down from $186 per tonne on March 29. The smelters are understood to have bought too much ma...Read More
OM Manganese will spend as much as A$7.3 million ($5.2 million) to establish a manganese ore joint venture in Western Australia with copper-gold-manganese explorer Bryah Resources.Under the agreement, OM Manganese, which is a wholly-owned subsidiary of Australia-listed mining and metallurgical group OM Holdings (OMH), can earn an interest in as much as 70% of the mineral rights at the Bryah Basin...Read More
Alloy-grade cobalt prices maintained their premium over standard-grade during the first half of this week amid a limited supply of cut cathode for spot market inquiries. Fastmarkets assessed the standard-grade cobalt price at $15.90-16.95 per lb, in-warehouse, on Wednesday April 24, up 1.5% from the previous week's assessment. Alloy-grade metal continued to trade at a premium but saw sli...Read More
China National Corporation for Overseas Economic Cooperation (CCOEC) won 34.64 tonnes of indium in Fanya Metal Exchange's second auction - ended at 10am Beijing time on Thursday April 25 - Fastmarkets understands from the official auction result posted on the Alibaba judicial online platform.As the only bidder at the auction, CCOEC took the indium at a price of 37.4112 million yuan ($5.57 million)...Read More
The Turkish steel producers have continued their silence in the deep-sea scrap markets because of the low levels of demand for finished steel in both the export and domestic markets, sources said on Thursday April 25.Some suppliers in the Baltic Sea region were offering HMS 1&2 (80:20) at prices around $310 per tonne cfr, but the mills were not willing to buy any scrap cargoes before selling some...Read More
Major Chinese steelmaker Maanshan Iron & Steel (Magang) hopes to lead the overhaul of the Chinese ferrous scrap market by pioneering a domestic pilot project, group vice president Chen Zhaoqi said at the 12th China International Metal Recycling Conference 2019 in Zhuhai, China on April 25.Magang is planning 10 million tonnes per year of new ferrous scrap capacity across 10 ferrous scrap processing...Read More
Japan has increased its ferrous scrap exports to non-traditional markets on expectations of an oversupply of ferrous scrap from 2020 after the current wave of demand from the Tokyo 2020 Olympic Games ends, Genkichi Ando, chairman of the international network committee from the Japan Iron & Steel Recycling Institute, said this week.Japan started ferrous scrap exports to countries such as Bangladesh...Read More
A summary of Nornickel's production results for the first quarter of 2019 between January and March.IN BRIEF: First-quarter copper production for 2019 was up 13% year on year to 127,000 tonnes as a result of a production ramp-up at the Bystrinsky (Chita Copper) Project in Chita, Sibera.2019 first-quarter nickel production exceeded that of 2018...Read More
Alloy-grade cobalt prices maintained their premium over standard-grade during the first half of this week amid a limited supply of cut cathode for spot market inquiries. Fastmarkets assessed the standard-grade cobalt price at $15.90-16.95 per lb, in-warehouse, on Wednesday April 24, up 1.5% from the previous week's assessment. Alloy-grade metal continued to trade at a premium but saw sli...Read More
Chinese cobalt sulfate prices were unchanged mid-week after their retreat on Friday April 19, but waning buyer interest and concerns over the surplus dynamics of key raw material cobalt hydroxide will continue to weigh on cobalt sulfate prices, market participants told Fastmarkets MB.Fastmarkets MB assessed the Chinese cobalt sulfate price at 51,000-54,000 yuan ($7,587- 8,033) per tonne on April 2...Read More
China's hot-rolled coil exporters lowered their prices on Thursday April 25 despite domestic prices remaining largely unchanged, partly due to limited trading activity.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, unchangedNorthern China (Tianjin): 3,900-3,920 yuan per tonne, unchangedAlthough prices were stable nationwide, trading was limited, with market part...Read More
The import price for steel billet in Egypt fell in the week to Thursday April 25, on declining demand caused by uncertainty over the imposition of import duties.Demand for imported rebar was also down and domestic rebar prices increased as a result.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $445-450 per tonne cfr on Thursday, falling from $450-455 per tonne cfr l...Read More
Domestic long steel prices in Turkey have increased despite sluggish demand with the country's lira weakening against the US dollar, sources said on Thursday April 25.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,240-3,340 ($552-569) per tonne ex-works on Thursday, up from the TRY3,220-3,290 per tonne of last week.The mills in the Izmir region were offering rebar to th...Read More