A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Here are five Fastmarkets stories you might have missed on Monday August 23 that are worth another look.Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fas...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
A summary of China's battery raw materials exports for July 2021, according to the latest Chinese customs data released last Friday August 20.In brief?EUR?Lithium hydroxide exports fell month on month due to a shortage in China amid lithium feedstock supply constraints coupled with strong demand from the...Read More
Australia-listed IGO Limited has announced its first lithium hydroxide chemical production at Kwinana Lithium Hydroxide Refinery in Australia, it said on Monday 23 August.On 30 June, IGO completed a joint venture deal with Chinese Lithium producer Tianqi Lithium. The joint venture is 49% owned by IGO and 51% owned by Tianqi. The refinery will improve product quality to battery grade for...Read More
Radius Gold Inc. (TSXV: RDU) is a gold and silver exploration Company, with a portfolio of compelling projects, located in Mexico, and Guatemala. Radius utilizes partnerships, where appropriate, to retain our Company's strong treasury. We learned from Bruce Smith, President and CEO of Radius Gold, that they are currently drilling at two projects, Holly in Guatemala, in joint venture, with Volcanic...Read More
The domestic hot-rolled coil market in Europe remained quiet on Monday August 23, with buyers and mills split over the price trend for September, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,143.33 ($1,337.42) per tonne on August 23, up by ?,?0.83 per tonne from ?,?1,142.50 per tonne on Friday August 20.The i...Read More
After Saigon fell, so did gold. Is history about to repeat after the surrender of the Afghanistan government to the Taliban? Meanwhile, a Canadian DeFi revolution may be just around the corner.Gold initially fell after the American defeat in VietnamWe also update our view on oil & gas stocks in this week's Insights. Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy were broadly unchanged during the week to Friday August 20 amid low trading activity during the summer holiday slowdown.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,142.50 ($1,336.45) per tonne on Friday, down by ?,?0.63 per tonne day on day from ?,?1,143.13 per tonne. The index...Read More
Apple has been on a chart-topping hot streak for more than a decade now. Sure, there were a few embarrassing years in the 1990s when the company narrowly dodged bankruptcy, but it turned out to be the proverbial fire from which a newer, stronger Apple was forged. Steve Jobs was the company's visionary co-founder and leader until his death in 2011. Under his reign, nearly all of the most iconic A...Read More
Domestic hot-rolled coil (HRC) prices in China extended their gains on Monday August 23, buoyed by constrained production but subdued by rising inventories and persistent concerns over demand.DomesticSteel hot-rolled coil domestic, ex-whs Eastern China (Shanghai) was 5,660-5,700 yuan ($870-876) per tonne, up by 30-40 yuan per tonne from Friday August 20.The most-traded HRC contract on the Sha...Read More
China's domestic rebar prices moved up on Monday August 23 on strengthening demand in many parts of the country, though heavy rain continued to keep demand in a few provinces subdued. DomesticEastern China (Shanghai): 5,130-5,170 yuan ($788-794) per tonne, up by 50-60 yuan per tonneConstruction activity has increased in large parts of China, such as the eastern and northern region, on clear weathe...Read More
Spot prices for steel rebar imports into Singapore dipped in the week to Monday August 23 amid pressure on traders to offload cargoes after iron ore prices collapsed last week.Traders were offering Indian rebar at $735-740 per tonne cfr Singapore on a theoretical weight basis, down by $5 per tonne from the previous week."The Hong Kong import market has also been receiving offers at these levels,"...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
A huge drop in Chinese import steel billet bids has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in freefall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightly during...Read More
The recently sluggish gold market is now poised for a major upleg, and Clive Maund points to a dramatic reversal candle at key support as a "major Buy sign."It's been a long time since a full Gold Market update was posted on the site because frankly it has been too boring a market, but what happened last week looks highly significant with the action in gold and silver suggesting not just a reversa...Read More