The seaborne low and high-grade manganese ore markets were quiet in the week to Friday May 21, while the portside market remained stable against strengthening silico-manganese prices, sources said.Fastmarkets' manganese ore index 37% Mn, cif Tianjin edged down by 1 cent (0.20%) to $4.50 per dry metric tonne unit (dmtu) on Friday, from $4.51 per dmtu a week earlier.The semi-carbonate market was lar...Read More
The Chinese government held a meeting with the biggest iron ore, steel, copper and aluminium producers on Sunday May 23 to call for them to rein in commodity price hikes. Commodity leaders were told at the meeting to "proactively fulfill their social responsibilities" and make business decisions "for the benefit of the entire economy as a whole." "The key message is that we ought to obey our paren...Read More
Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
The European manganese alloys markets rose even higher over the week ended Friday May 21, hitting price ranges last seen in late 2008, on a bout of short-covering from traders looking to restock ahead of an expected renewal of consumer demand early next month, trade sources have told Fastmarkets.Market prices for silico-manganese delivered on a spot basis went as high as ?,?1,450 ($1,766) per tonn...Read More
Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.South Korea imported 665,187 tonnes of steel scrap in January-April 2021, an increase of 20.3% year on year, according to Korean customs statistics.Steel production in the country was 17.58 million tonnes during the first quarter...Read More
The price for imported rebar in Singapore fell during the week to Monday May 24 due to turnaround in market sentiment and spot prices in China, market sources said. Buyers have been skittish amid falling steel prices in Asia, led by continual falls in China's physical and futures market. There were no bids heard. Prices in China have fallen continually from 6,000-6,030 yuan ($931-936) per tonne on...Read More
Base metals prices on the LME were mainly weaker on the morning of Monday May 24, while those on the SHFE were down across the board in response to attempts by the Chinese authorities to inhibit price increases. Power shortages in China, brought on by drought and emissions controls, are forcing some metal producers to reduce output. Proposed infrastructure plans in the United States face having to...Read More
A summary of China's battery raw materials exports for April 2021In brief China's cobalt metal exports fell year on year but surged on monthly basis due to improved buying appetite from overseas buyers. Exports of cobalt tetroxide rose year on year in April amid the continuous recovery of demand...Read More
A summary of China's battery raw materials imports for April 2021.In brief Imports of cobalt metal fell in April after March - when shipments of the material hit a new historical monthly high - but the volume surged year-on-year against a much lower import volume amid the Covid-19 pandemic in 2020.Imports of cobalt intermediates were up on both a monthly and yearly...Read More
Chinese new energy battery materials producer Huayou Cobalt has signed a contract to set up a joint venture in Indonesia for hydrometallurgical process nickel laterite ore with other four partners, the company said on Sunday May 23.Under the contract, Huayou Cobalt will hold a 21% stake in the joint venture - which involves a total investment of $2.08 billion - while the remaining...Read More
We spoke with Matt Gill, who is the Managing Director and CEO of White Rock Minerals Ltd (ASX: WRM, OTCQX: WRMCF), an Australian minerals exploration and development company, with activities focused on two projects: Red Mountain, located in Alaska, and Mt Carrington, located in northern NSW, Australia. At the 100% owned Red Mountain Project, covering 798km2, White Rock Minerals is blessed with two...Read More
Domestic prices for hot-rolled coil in the European Union increased in the week to Friday May 21, supported by continuing coil shortages and good demand.ArcelorMittal increased its coil offer for HRC to ?,?1,150 ($1,401) per tonne on Wednesday May 19, up by ?,?50 per tonne. Cold-rolled and hot-dipped galvanizing coil offers moved up to ?,?1,300 per tonne ex-works.Fastmarkets calculated its daily s...Read More
As bitcoin tumbles, one of the world's biggest gold miners just made a multi-year high. However, despite the crypto crash, the case for DeFi remains compelling.In this week's Insights, we also explain why the Ford's new EV pickup could be an important tailwind for battery metals stocks. Read More
Domestic prices for flat steel in Russia's Central Federal District around Moscow continue to rise, driven by strong demand, shortages, and rising export tags, sources told Fastmarkets on Monday May 24.Hot-rolled sheetMagnitogorsk Iron & Steel Works (MMK) announced offers for June HR sheet at 105,000 ($1,426) roubles per tonne, while offers from Severstal were at 104,000 roubles per tonne, sources...Read More
Flat-rolled steel export prices from the Commonwealth of Independent States increased again during the week to Monday May 24, but offer volumes of some products were limited, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $1,085-1,125 per tonne on May 24, rising from $1,055-1,075 per tonne on May 17.CIS-origin offers of...Read More
Here are five Fastmarkets stories you might have missed on Monday May 24 that are worth another look.Demand for ferrous scrap imported to South Korea has shown a notable recovery in recent months amid healthy steel demand and rising steel output in the East Asian nation.Key Chinese commodities companies have been warned that they...Read More
Fastmarkets has corrected its weekly steel wire rod export, fob Black Sea, CIS assessment, which was published erroneously on Monday May 24 due to an input data submitted by a data submitter by mistake. The data submitter subsequently corrected their submission, leading to Fastmarkets amending the price assessment. The steel wire rod export, fob Black Sea, CIS (MB-STE-0017) price should have...Read More
Steel rebar offer prices in Russia's Central Federal District around Moscow increased sharply in the week to Monday May 24, supported by tight availability and pricey exports.Major steelmaker Severstal was offering material at higher prices, sources told Fastmarkets, but added that end users were insisting on discounts.Severstal was offering June-delivery rebar at 75,000 ($1,018) roubles...Read More
Iron ore prices fell further on Monday May 24 amid weakening sentiment, after reports that Chinese officials had held further discussions on Sunday about how to curb high commodities prices, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $192.42 per tonne, down $8.30 per tonne62% Fe low-alumina fines, cfr Qingdao: $193.87 per tonne, down $9.19 per tonne58% Fe fine...Read More