Years of neglecting its critical metal supplies is catching up with the United States, as demand for the raw materials needed to build a new green economy that rejects fossil fuels gears up.US President Joe Biden just announced a $2.3 trillion infrastructure spending package aimed partially at shifting the US transportation system from gas and diesel-based to battery-powered, and more support for...Read More

Tata Steel's recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.Yogesh Bedi, chief of Tata Steel Recycling Business, told Fastmarkets the company was in the final stages of commissioning a shredder, which would let the company offer domestically produced shredded sc...Read More

Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More

Fastmarkets has partnered with the CME Group to launch a cash-settled lithium futures contract, which will be settled against Fastmarkets' assessment for lithium hydroxide battery grade, spot price cif China, Japan & Korea, the exchange announced on Thursday April 8.The contract is due to be launched on May 3, subject to all relevant regulatory reviews, it said.Fastmarkets' lithium price is publis...Read More

Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More

Most futures prices on the London Metal Exchange saw a bounce at the close on Thursday April 8, following the retreat of the US Dollar Index. Nickel's three-month price resumed its upward trajectory on Thursday, reaching an intraday high of $16,875 per tonne - its highest level since early March. The metal closed at $16,828 per tonne, a 1.1% increase on its Wednesday reading of $16,636 per to...Read More

Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More

Michael Insulan has joined First Cobalt as vice president, commercial, tasked with advancing the company's offtake strategy and the marketing of its refinery's cobalt sulfate production to electric vehicle (EV) manufacturers and battery cell makers. Based in Europe, Insulan was most recently at a senior market analyst at cobalt producer Eurasian Resources Group. He has previously held roles at CRU...Read More

The announcement of a 1.529 billion yuan ($233.6 million) limited partnership agreement between major Chinese manganese miners and traders has left many in the market weighing up the significance of such a move.South Manganese Investment, formerly Citic Dameng Holdings, entered into a limited partnership agreement with 10 participants involved in manganese mining and trading, according to a notice...Read More

Most futures prices on the London Metal Exchange saw a bounce at the close on Thursday April 8, following the retreat of the US Dollar Index. Nickel's three-month price resumed its upward trajectory on Thursday, reaching an intraday high of $16,875 per tonne - its highest level since early March. The metal closed at $16,828 per tonne, a 1.1% increase on its Wednesday reading of $16,636 per to...Read More

The month-long inspections on steel mills outside Tangshan that started on April 6 have eroded already weak iron ore demand in China, keeping iron ore price movements largely rangebound on Thursday April 8. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.10 per tonne, down $0.53 per tonne 62% Fe low-alumina fines, cfr Qingdao: $173.71 per tonne, down $0.45 per tonne 58% Fe fines high-...Read More

Open interest refuses to contract, and now it looks like we have another whale standing for delivery...by Harvey Organ of Harvey Organ BlogAPRIL 7/GOLD CLOSED DOWN $1.25 TO $1740.70//SILVER ROSE 3 CENTS TO $25.18//GOLD TONNAGE AT THE COMEX ROSE SMARTLY UP 1 FULL TONNE TO 79.9 TONNES//SILVER HELD FIRM AT 14.210 MILLION OZ//MAY OPEN INTEREST FOR SILVER REFUSES TO CONTRACT AND REMAINS AT 116,000 CONT...Read More

Nickel continued to reach its highest prices in a month while the rest of base metals on the London Metal Exchange were marginally higher on Thursday April 8, with the prospect of more economic stimulus and supportive fiscal measures in the United States boding well for equity markets and metal futures. Nickel's three-month price reached an intraday high of $16,800 per tonne during early trading o...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?  Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More

Domestic prices for European heavy steel plate increased again in the week to Wednesday April 7, supported by higher slab costs and lower supply for spot buyers, sources told Fastmarkets.Steelmakers have also been targeting further price increases, sources said.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was ?,?740-760 ($879-903) per tonne on April 7,...Read More

Polished trading slower after robust 1Q. Concerns about high Covid-19 infections in Europe and India. Bharat Diamond Bourse sharply restricts activity. Surat manufacturing and exports continue. US jewelers optimistic as consumer confidence grows in March. Vaccine rollout and $1,400 stimulus checks fueling retail spending. Rough market cooling. Cutters anticipate rise in polished inventory as GIA r...Read More

RAPAPORT... The Gemological Institute of America (GIA) has identified a fancy-color diamond containing rare lines of blue, positing that the stone was originally brown before it underwent treatment.The round brilliant, 1.50-carat, fancy-intense-green-yellow diamond contained blue "graining," an unusual phenomenon, according to researchers from the GIA in Carlsbad, California. While fancy-colo...Read More

The uptrend in Europe's hot-rolled coil market continued on Thursday April 8, with prices supported by a persistent lack of material, while ArcelorMittal has increased offer prices again, Fastmarkets heard. Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?895 ($1,065.41) per tonne on April 8, up by ?,?1 per tonne from ?,?894 per tonne on Wednesday Ap...Read More

RAPAPORT... Revenue at Titan Company increased in the fourth fiscal quarter as consumer sentiment continued to improve following the wedding season.Jewelry sales rose 70% year on year for the three months ending March 31, as consumers took advantage of lower gold prices to purchase wedding jewelry for events that had been deferred. Titan also benefited from a favorable base comparison with the sam...Read More

RAPAPORT... Diamond-grading laboratories and other industry services are allowed to operate during Mumbai's Covid-19 lockdown, according to a clarification by India's Gem & Jewellery Export Promotion Council (GJEPC).The state government of Maharashtra has exempted manufacturing and related support activities from the restrictions it imposed this week, the GJEPC said in a statement Wednesd...Read More