Slab export prices in Brazil increased in the week to Friday May 29, with multiple deals and negotiations taking place in Asia.Fastmarkets assessed the price for steel slab export, fob main port Brazil at $345-355 per tonne on Friday, up by $5-10 from $335-350 per tonne the previous week.Demand for Brazilian slab has increased in Asia, with one deal concluded for 40,000 tonnes to China and another...Read More
The Turkish steel producers resumed their deep-sea scrap purchases after the post-Ramadan holiday break with prices going up, while demand in Asia was also firm during the working week ended Friday May 29.Turkish steel mills booked six deep-sea cargoes at higher pricesUS exporters are working to fill sales from both West and East CoastsImport scrap prices in Vietnam rise, outlook unclearTight supp...Read More
Codelco's profits fell by 85.5% year on year in the first quarter of 2020, the company said on Friday May 29, due to lower copper prices brought about by the global spread of the novel coronavirus.The world's largest copper producer earned a profit of $54 million in "a challenging first quarter," Codelco said, noting that the steep fall in the underlying price of copper hurt the company's bottom l...Read More
Concerns over the availability of nickel for the battery sector increase from 2022, when electric vehicle (EV) growth picks up again after a period of weak consumer confidence caused by Covid-19, according to a poll conducted during a Fastmarkets webinar.About 44% of respondents to a poll at the end of the webinar said nickel was the battery raw material with which they were most concerned about s...Read More
The three-month price of zinc on the London Metal Exchange rose by 2.50% during trading on Friday May 29 to close at $1,988 per tonne.The zinc price reached a high of $1,992 per tonne on Friday, but failed to breach the $2,000-per-tonne mark despite a turnover of 9,867 lots.LME zinc stocks have declined to 101,350 tonnes after an outflow of 1,900 tonnes and fresh cancellations of 750 tonnes on Fri...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Fastmarkets' benchmark copper concentrates treatment and refining charge (TC/RC) index fell on Friday May 29 despite the expected return of Peruvian supply.The index dropped to $49.7 per tonne/4.97 cents per lb from$51.6 per tonne/5.16 cents per lb a week ago. Most Chinese smelters spoken to by Fastmarkets continue to buy parcels in the low-$50s/5 cents for June-July arrival. In trader purchases,...Read More
Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium producer Norsk Hydro said. Speaking during a webinar interview, Svein Richard Brandztaeg said that the drive to a circular economy was not without investment capital and ultimately needed to be paid for. "There is now bein...Read More
The Covid-19 pandemic is likely to accelerate the use of technology in the metals and mining industry, the former chief executive officer of Norsk Hydro said.This makes it all the more important to continue corporate research and development (R&D) functions despite efforts to trim costs, Svein Richard Brandztaeg told Fastmarkets during a webinar interview. "We know from previous serious crises tha...Read More
End-use demand for nickel will be so badly affected by Covid-19 that the London Metal Exchange three-month nickel price will recover at the slowest pace among the base metals, Citi analyst Oliver Nugent told Fastmarkets. "We were struck by the effect of the Covid-19 pandemic on nickel - this has been a game changer for the market," Nugent said. "Nickel is going to be the worst-affected base metal...Read More
Broader markets were generally weaker this morning, Friday May 29, while they wait for what United States President Donald Trump’s response will be to China’s plans to impose national security laws in Hong Kong. The base metals were mixed, however. On the Shanghai Futures Exchange only the lead contract was showing price falls, while most of the base metals traded on the London Metal Exc...Read More
Hot-rolled coil prices in the United States have remained above $25 per hundredweight ($500 per short ton), but sources mostly agreed that the second price increase from domestic mills has not been well received by the market.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.18 per cwt ($503.60 per ton) on Friday May 29, slightly down from $25.21 per cwt o...Read More
The United States will continue its anti-dumping and countervailing duty investigations into imports of pre-stressed concrete steel wire strand from 14 countries and the island of Taiwan, according to an announcement by the US International Trade Commission (ITC)."The United States International Trade Commission... determined that there is a reasonable indication that a US industry is materia...Read More
Prices for galvanized steel sheet rose in the United States for the first time in four weeks after the latest round of price-increase notifications from producers. Prices for cold-rolled coil held steady.Market participants were cautiously optimistic about a rebound in industrial demand as pandemic-related closures subside in most regions. Cold roll will underperform until there is more evidence t...Read More
Both domestic and imported steel beam prices in the United States were unchanged in May on persistent lower demand. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US held at $35.25 per hundredweight ($705 per short ton) on Thursday May 28; the price fell to that level on April 30 after remaining at $36.50 per cwt since January 30.Fastmarkets' monthly price assessment fo...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesShares set to be issued to undisclosed institutions and so-called sophisticated investors were priced at 5.7c in the fundraising hit an intra-day of 15c.Read More
ArcelorMittal plans to restart production at its mill in Bosnia, while Italy's AFV Beltrame puts one plant on pause and Acciai Terni Speciali cuts output in the week ended Friday May 29.ArcelorMittal restarted operations in the hot zone at its Zenica plant in Bosnia this week, and plans to re-open the rolling mills in June.The company also said that its Omarska mine near Prijedor, which supplies t...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Investors are waiting for a comment by President Trump on his policy on China.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for April Personal Income was a drop of 5.6% versus a decline of 2.0% in March. Actual was an increase of 10....Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThat is even more so when there is agreement on both sides that the potential acquisition is to be of the negative consideration type in that Vale is to continue funding a $500 million makeover of theRead More
The market for pig iron exports from Brazil continued to rise in the week to Friday May 29 on new sales to China and the United States. Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $295-300 per tonne on Friday, up by $5 per tonne from $290-295 per tonne a week earlier.A...Read More