Domestic hot-rolled coil prices in China narrowed upward on Tuesday October 19, with market sentiment boosted by new production curbs in the country's eastern region.DomesticEastern China (Shanghai): 5,780-5,800 yuan ($898-902) per tonne, narrowing upward by 80 yuan per tonneDue to power rationing, Shagang - a major steelmaker in East China's Jiangsu province - will suspend its rolling lines from...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
China's cobalt metal price strengthened after China's National Day holiday (October 1-7) amid the rally in international benchmark metal price and a shortage of spot units. While the price gap between China domestic market and the international market narrowed, it is unlikely that the former will match the latter in the near future, sources told Fastmarkets.Fastmarkets' price assessment for cobalt...Read More
Base metals prices continued to soar higher this morning, Tuesday October 19, with cash prices rising at an even faster pace while shorts are squeezed. Cash copper prices on the London Metal Exchange were evaluated on Monday evening at $1,103.50 per tonne.All of the LME base metals' cash/three-month spreads, except that for aluminium, are in backwardation.Risk appetite is fairly upbeat despite gen...Read More
Base metals prices were down across the board on both the London Metal Exchange and Shanghai Futures Exchange this morning, Wednesday October 20, with relatively high volume being seen on the LME.* After the upward spikes in LME cash prices, ahead of the October prime data, it is perhaps not surprising a reality check is underway...* ...but once again let us see how far the pullback goes.* Broader...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said onMonday October 18 ."Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of [approximately] $13.5 billion (1.5 trillion yen) set aside for investm...Read More
Argentinian aluminium producer Aluar will resume a quarter of its production capacity that has been restricted since the beginning of the Covid-19 pandemic after the federal government guaranteed power supply at lower costs, the company and the government said jointly on Wednesday October 13.That will amount to 106,000 tonnes of aluminium and result in 600 new direct and indirect jobs, they said....Read More
The latest data for the global manganese ore market for the week to October 18, 2021.Read More
Seaborne low- and high-grade manganese ore markets hit half-year highs in the week to Friday October 18 due to strong sentiment stemming from good Chinese demand amid rising portside markets.Low-grade achieves higher prices South African producers offered semi-carbonate for November shipment at higher prices after the Golden Week holiday (October 1-7).Fastmarkets' calculated the manganese ore inde...Read More
Manganese ore prices at Chinese ports rose markedly in the week to Friday October 15 amid an improved demand outlook and easing production headwinds in some major alloy-producing regions.The price differential between low-grade and high-grade manganese ore grew to 8.50 yuan ($1.32) per dry metric tonne unit (dmtu) on Friday, the widest since Fastmarkets started assessing the markets in January 201...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said onMonday October 18 ."Specifically, the investment is for developing and localizing automotive battery production, including those for battery electric vehicles, and is part of the global total of [approximately] $13.5 billion (1.5 trillion yen) set aside for investm...Read More
Here are five Fastmarkets stories you might have missed on Monday October 18 that are worth another look.Toyota will invest approximately $3.4 billion in automotive batteries in the United States through 2030, the Japanese automaker said on October 18.Argentinian aluminium producer Aluar will...Read More
Turkish domestic scrap prices have increased during the week to Monday October 18 in line with rising imported scrap values, market participants said.Turkish steelmakers have been paying higher prices for deep-sea scrap in recent weeks due to limited supply and firm demand.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $489.99 per tonne on Mo...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally up strongly this morning, Monday October 18, with energy shortages and high energy prices continuing to affect supply. The market seems to be ignoring, for now, the weaker economic data out of China.China's gross domestic product climbed 4.9% in the third quarter, down from 7.9% in the second quarter.Autom...Read More
Belgian battery materials manufacturer Umicore has lowered their full-year outlook for 2021 because the global semiconductor shortage has impacted its catalysis, cathode materials and recycling segments business, the company said on Monday October 18.Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to approach ?,?1 billion ($1.16 billion), compared with the prev...Read More
Trading activity in the European hot-rolled coil market remained subdued on Monday October 18, with mills and buyers both holding back from trading, sources told Fastmarkets.Sentiment remains gloomy due to the drop in demand from the automotive segment. Auto-industry output - and, consequently, steel demand - has fallen due to a shortage of semiconductors. Market sources reported that mills supply...Read More
Domestic prices for hot-rolled coil declined in the European Union in the week to Friday October 15, reflecting bearish sentiment in the market and poor demand from the automotive segment.Buyers and sellers have held back from making deals, with only limited volumes traded in Europe during the week.Steel prices have been under downward pressure from weak automotive demand, high distributor stocks...Read More