Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.- Bangladesh buyers step back from market - Shredded scrap offers rise to Bangladesh amid strong Pakistan market - Taiwanese consumers continue to bid low Bangladesh There was a lack of import ac...Read More
Turkish steel mills were quiet in the deep-sea scrap import markets on Thursday November 11 after booking two cargoes from the Baltic Sea region, sources told Fastmarkets.A steel mill in the Marmara region had booked two Baltic Sea cargoes late on Tuesday November 9 at $497 and $500 per tonne cfr on HMS 1&2 (80:20) basis. Turkish steelmakers required more cargoes for December,...Read More
European hot-rolled coil prices were stable to slightly lower on Thursday November 11, on subdued activity, but producers hope to achieve higher prices in the first quarter of 2022, sources told Fastmarkets.Trading activity was slow, with buyers refraining from making purchases and instead assessing the situation. Producers, meanwhile, were looking to achieve higher prices for the first quarter of...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Turkish steel mills were quiet in the deep-sea scrap import markets on Thursday November 11 after booking two cargoes from the Baltic Sea region, sources told Fastmarkets.A steel mill in the Marmara region had booked two Baltic Sea cargoes late on Tuesday November 9 at $497 and $500 per tonne cfr on HMS 1&2 (80:20) basis. Turkish steelmakers required more cargoes for December,...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Chinese exporters of ammonium paratungstate (APT) tried to hold their offers firm this past week, despite the overall export market being inactive and domestic prices in China falling, according to sources.Fastmarkets' weekly price assessment for tungsten APT 88.5% WO3 min, fob main ports China was $313-319 per metric tonne unit (mtu) on Wednesday November 10, widening downward by $2 per mtu from...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
Johnson Matthey (JM) is pursuing the sale of all or parts of its battery materials division following a detailed review.This reflects the high capital intensity of those operations in the face of competition from more established large-scale, low-cost producers, the UK-based specialty chemical and sustainable technologies company said in a press release on Thursday November 11.Growth in demand for...Read More
Some Chinese steelmakers are refusing to deliver January-contracted steel cargoes bound for Shanghai Futures Exchange warehouses to stem falling prices.Some steel mills in northern China said on Wednesday November 10 they will not deliver cargoes for January futures positions because their prices are too low compared with spot physical prices.The most-traded January rebar futures contract closed a...Read More
The trade agreement between the EU and the US to replace Section 232 tariffs with a quota system has received a positive wecome from Europe's long steel producers, sources told Fastmarkets this week.The European Union and the United States came to an agreement on October 30, although United Steelworkers International president Tom Conway said at the time that the volumes permitted to come in from...Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
European hot-rolled coil prices were stable to slightly lower on Thursday November 11, on subdued activity, but producers hope to achieve higher prices in the first quarter of 2022, sources told Fastmarkets.Trading activity was slow, with buyers refraining from making purchases and instead assessing the situation. Producers, meanwhile, were looking to achieve higher prices for the first quarter of...Read More