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IN FIGURES: China's battery raw materials imports in April 2021

May 25, 2021 / www.metalbulletin.com

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

LIVE FUTURES REPORT 24/05: Zinc price down 1.4%; rest of LME complex consolidating

May 25, 2021 / www.metalbulletin.com

The three-month zinc price on the London Metal Exchange recorded the biggest decrease on the morning of Monday May 24, with the rest of the base metals complex continuing to consolidate following last week's decline. The zinc price was down to $2,927 per tonne on Monday at 9am from Friday's closing price of $2,971 per tonne, when it rose by a slight $12. The galvanizing metal price fell by 1.4% o...Read More

MORNING VIEW: Base metals prices in correction mode

May 25, 2021 / www.metalbulletin.com

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

China's Huayou Cobalt sets up nickel hydrometallurgical tech JV in Indonesia

May 25, 2021 / www.metalbulletin.com

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

US hot-rolled coil index now above $80/cwt

May 25, 2021 / www.metalbulletin.com

Hot-rolled coil prices in the United States broke a new record for the seventh time this month, surging above $80 per hundredweight ($1,600 per short ton) for the first time on Monday May 24, the highest since Fastmarkets started covering the market in 1960.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $80.02 per cwt ($1,600.40 per ton) on Monday, up by 1.88% from $...Read More

PRICING NOTICE: Correction to steel wire rod export, fob Black Sea, CIS assessment

May 25, 2021 / www.metalbulletin.com

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

EUROPE HRC: Domestic prices rise in north on tight supply, strong demand

May 25, 2021 / www.metalbulletin.com

Material shortages and strong demand continued to support the increase in domestic prices for hot-rolled coil in northern Europe on Monday May 24, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, ex-works northern Europe at ?,?1,131.25 ($1,377.90) per tonne on Monday, up by ?,?14.58 per tonne from ?,?1,116.67 per tonne on Friday.The index was up by ?...Read More

RUSSIA REBAR: Prices jump on new offers, end users ask for discounts

May 25, 2021 / www.metalbulletin.com

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

METALS-Copper up, but potential Chinese price curbs weigh

May 24, 2021 / www.kitco.com

(Updates prices, adds comment) By Pratima Desai LONDON, May 24 (Reuters) - Copper prices rose on Monday as asofter dollar spurred modest purchases, but gains were capped byconcerns over price curbs on industrial metals in top consumerChina. Benchmark copper on the London Metal Exchange (LME)was up 0.6% to $9,939 a tonne at 1600 GMT.However, prices of the metal, used widely in the power andconstruc...Read More

Base metals prices in correction mode

May 24, 2021 / www.metalbulletinresearch.com

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...Read More

DAILY STEEL SCRAP: Mills continue to pay higher prices for deep-sea scrap

May 25, 2021 / www.metalbulletin.com

Turkish steel producers continued to book deep-sea scrap for July shipments at higher prices on Monday May 24 even as market sentiment turned negative, sources told Fastmarkets.A steel mill in the Iskenderun region booked a European cargo comprising 19,000 tonnes of heavy melting scrap 1&2 (80:20), 11,000 tonnes of shredded, 8,000 tonnes of bonus and 2,000 tonnes of busheling at an average price o...Read More

TURKEY DOMESTIC STEEL SCRAP: Rising import values boost domestic prices

May 25, 2021 / www.metalbulletin.com

Turkish domestic scrap prices continued to strengthen in the week to Monday May 24 on increasing imported scrap values, market sources said.Steel producers in Turkey booked at least four deep-sea cargoes during the past week. The most recent deal was done on Thursday May 20, when a steel mill in the Iskenderun region booked a Baltic Sea cargo at $507.50 per tonne cfr on an HMS 1&2 (80:20) basis.Fa...Read More

IRON ORE DAILY: Seaborne prices drop further amid weakening sentiment

May 25, 2021 / www.metalbulletin.com

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

COKING COAL DAILY: Premium prices largely stable at elevated levels

May 25, 2021 / www.metalbulletin.com

Seaborne coking coal prices remained largely unchanged on Monday May 24, with market participants cautiously waiting for a trend to emerge after last week's price fluctuations, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $139.97 per tonne, up $0.55 per tonnePremium hard coking coal, cfr Jingtang: $254.80 per tonne, up $2.50 per tonneHard coking coal, fob DBCT: $...Read More

South Korea import scrap demand soars in 2021 amid stronger steel demand

May 25, 2021 / www.metalbulletin.com

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

Tech Talk for Monday May 24th 2021

May 24, 2021 / www.timingthemarket.ca

Most U.S. equity indices moved slightly lower again last week. Greatest influences on North American equity markets remain evidence of a possible third wave of the coronavirus (negative) and continued expansion of distribution of a vaccine (positive).  ObservationsThe S&P 500 Index is following its historic seasonal pattern for this time of year, a mixed, choppy period between early May a...Read More

Seaborne iron ore concentrate, pellet prices retreat amid downtrending fines market

May 25, 2021 / www.metalbulletin.com

Seaborne iron ore concentrate and pellet prices fell in the week ended Friday May 21, snapping an uptrend that began in late March, with the bigger fines segment of the market tumbling down for most of last week. Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $61.10 per tonne, down $0.40 per tonne66% Fe concentrate, cfr Qingdao: $244.12 per tonne, down $10.31 per tonne65%...Read More

US becomes the largest supplier of coking coal to China in April

May 25, 2021 / www.metalbulletin.com

China imported about 3.48 million tonnes of coking coal in April, down 44% from the corresponding period last year and down by 29% month on month, the latest Chinese Customs data showed.The United States exported the largest volume of coking coal to China in April followed by Russia, Canada and Mongolia.China imported 974,700 tonnes of coking coal from the US in April, up more than 10-fold from 91...Read More

CHINA HRC: Government scrutiny sends prices tumbling

May 25, 2021 / www.metalbulletin.com

China's hot-rolled coil prices dropped on Monday May 24 amid weaker demand after the central government warned major market participants against hoarding and driving up prices of commodities including steel.DomesticEastern China (Shanghai): 5,440-5,450 yuan ($845-847) per tonne, down by 230 yuan per tonneThe National Development & Reform Commission (NDRC) on Sunday held a meeting with major compan...Read More

CHINA REBAR: Prices dive after NDRC investigates price manipulation

May 25, 2021 / www.metalbulletin.com

China's domestic rebar prices fell sharply on Monday May 24, following drops in futures prices and billet prices over the weekend, on news that China's National Development and Reform Committee (NDRC) had started a probe into commodity prices, causing mills to go into the red.DomesticEastern China (Shanghai): 4,900-4,920 yuan ($762-765) per tonne, down by 200-230 yuan per tonneThe NDRC, along with...Read More

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