Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said. Rising procurement costs of raw materials have made the lives of small and medium enterprises tough, while higher prices of end products could lead to waning consumption, Ma Wensheng, vice chairman of China Futures Association sai...Read More

Export demand for European secondary aluminium-ingot 226 has risen sharply over the week to Friday May 15, while ADC 12 prices in Asia reach multi-year highs due to strong automotive demand and soaring scrap prices, sources told Fastmarkets.The global semiconductor chip shortage and subsequent halt in automotive manufacturing worldwide contributed to the eight-week fall in secondary aluminium 226...Read More

Third-quarter 2021 supplies of aluminium to main Japanese ports (MJPs) are on offer at a premium of $180-190 per tonne over the London Metal Exchange cash price, market participants told Fastmarkets on Monday May 17.The producer offer is 24.6% higher than the cif MJP premium for the second quarter, which settled at $148-149 per tonne.Third-quarter negotiations in 2020 were settled at $75-79 p...Read More

The first phase of Shandong Nanshan Aluminium's alumina project in Indonesia recently started trial production, sources told Fastmarkets on Monday May 17.The development of the alumina refinery is separated into two phases and will eventually have a total production capacity of 2 million tonnes per year, with 1 million tpy coming online in phase one and the rest in the project's second phase, whic...Read More

Glencore has well-established recycling activities and is extending its role as a key part of the circular economy, Glencore Recycling's global commercial lead, Kunal Sinha said.When Glencore set out its plans in December last year to be a net-zero emissions company by 2050, recycling was one of its seven core pathways. It is an area the company has been active in for decades, but a number of fact...Read More

Hot-rolled coil prices in the United States moved back above $77 per hundredweight ($1,540 per short ton) to a new all-time high, with mills' order books reportedly remaining quite strong for the foreseeable future. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $77.44 per cwt ($1,548.80 per ton) on Monday May 17, up by 1.08% from $76.61 per cwt on Friday May 14 and...Read More

Rebar and wire rod export prices from the Commonwealth of Independent States surged in the week to Monday May 17, supported by rising raw material costs, higher export prices in China, and increasing domestic prices in Russia.RebarFastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $810-830 per tonne on Monday, up $110-130 from $680-720 per tonne...Read More

Rebar producers in Egypt have increased their prices by another E ?400 ($25.50) per tonne with effect from Monday May 17, sources told Fastmarkets. Rebar producers in Egypt are now offering the product at E ?14,300,14,600 per tonne ex-works including 14% VAT, compared with E ?13,900-14,200 per tonne ex-works announced on May 7. The latest increase follows an earlier E ?400 per tonne increase...Read More

Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.The price increase was due to high raw material costs and similarly higher prices for imported steel.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was at 6,910-7115 Reais ($1,311-1,350) per tonne on Fri...Read More

Stellar metrics just the start for near-term developer Theta GoldSPONSOREDtheta gold minesIts Citadel joint venture with Rio Tinto has likely synergies with the major's nearby Winu copper-gold-silver development, it has deep-pocketed partners in Newcrest Mining and IGO at two separate JVs and its 100%-owned Minyari Dome Project is showing "Havieron-style" promise.Executive chairman Stephen Power s...Read More

McDermitt puts Jindalee at top of US lithium stock-pileSPONSOREDjindalee resourcesCEO Ivan Glasenberg also said the company was committed to both KCC and its currently mothballed Mutanda copper-cobalt mine in the country.He said Glencore was honoured last week by a visit to KCC from dignitaries, including DRC president Felix Tshisekedi, in recognition of Glencore's ongoing commitment to and invest...Read More

Domestic prices for hot-rolled coil in Europe were largely unchanged on Monday May 17, supported by material shortages and strong demand, sources told Fastmarkets.Market sources said the number of transactions over the past week had been minimal, however, because mills have only limited volumes of coil with long lead times and the buyers have been cautious about doing deals - concerned that if the...Read More

Export slab prices from the Commonwealth of Independent States (CIS) region continued climbing in the week to Monday May 17, supported by favorable conditions in the finished flat steel market both domestically and abroad.Hot-rolled sheet offers in Russia's domestic market reached 104,000 roubles ($1,404) per tonne cpt, including VAT, in the week to Monday, up from 99,000-104,000 roubles a week ea...Read More

Turkish steel mills made no deep-sea scrap bookings on Monday May 17, the first working day of the week after the Eid al-Fitr holiday, market participants told Fastmarkets.The post-Ramadan religious holiday began on the afternoon of May 12.The country was also under full lockdown between April 29 and May 16 amid a third wave of Covid-19 cases."People are returning from the holiday and lockdown per...Read More

U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade.Index futures were virtually unchanged following release of the May Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was a slip to 24.00 from 26.30 in April. Actual was a slip to 24.3AT&T gained $1.34 to $33.60 and Discovery advanced $60.4 to $41.69 following confirmation...Read More

Turkish domestic scrap prices increased further in the past week due to rising imported scrap values, market participants said on Monday May 17.Following the most recent deep-sea scrap transactions, prices for the material have already exceeded $500 per tonne cfr, sources said.Late on Wednesday May 12, a steel mill in the Iskenderun region booked a Baltic sea cargo comprising 18,000 tonnes of HMS...Read More

Seaborne iron ore prices jumped on Monday May 17 due to increased liquidity in the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $217.77 per tonne, up $8.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.80 per tonne, up $9.61 per tonne58% Fe fines high-grade premium, cfr Qingdao: $186.65 per tonne, up $7.36 per tonne65% Fe Brazil-origin fines, cfr...Read More

Seaborne coking coal prices maintained their upward trend in the cfr market amid low supply and necessary procurement activities, while the fob market was largely stable because most market participants had adopted a wait-and-see attitude on Monday May 17, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $120.84 per tonne, down $0.39 per tonnePremium hard coking coal...Read More

Prices for seaborne iron ore pellets and concentrate rose again in the week to Friday May 14 despite volatility in the futures market.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $61.50 per tonne, unchanged 65% Fe blast furnace pellet, cfr Qingdao: $314.50 per tonne, up $30.38 per tonne66% Fe concentrate, cfr Qingdao: $254.43 per tonne, up $27.06 per tonneKey d...Read More

The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesMay 7, 2021, 180 tonnes (15 tonnes each month for January to December 2022, all at $20.70 per lb)May 6, 2021, 60 tonnes (5 tonnes each month for January to December 2022, all at $20.60 per lb)April 30, 2...Read More