Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
The export market for steel billet from the Commonwealth of Independent States improved on Tuesday October 12 on bullish sentiment among suppliers.Fastmarkets' calculation of its daily steel billet index, export, fob Black Sea, CIS, was up by $23 per tonne day on day to $625 per tonne on October 12.One supplier from Ukraine offered billet at prices no...Read More
Tsingshan Group has set its tender price for October-delivery high-carbon ferro-chrome at 9,995 yuan ($1,550) per tonne, the Chinese stainless steelmaker said on Monday October 11.The tender price was unchanged from what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for September-delivery material, suggesting that it chose not to acknowledge a recent price surge...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 12 that are worth another look.A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The London Metal Exchange has...Read More
Market participants were bullish on the Japanese scrap markets amid the surge in Japan's October Kanto Tetsugen auction price, sources told Fastmarkets on Tuesday October 12. Japan's Kanto Tetsugen auction closes $61 per tonne higher month on monthTaiwan returns from holidayPrices for imported material to China increase amid tight domestic supplyJapanJapan's October Kanto Tetsugen auction conclude...Read More
Power cuts remained a prominent factor in China through the third quarter of 2021 as the world's second-largest economy grappled with soaring coal prices and its own strict limits on energy consumption - put in place to help the country achieve carbon neutrality by 2060.An increasing number of factories - especially those in energy intensive industries - have suffered from curbs to their power usa...Read More
Seaborne iron ore prices were down on Tuesday October 12 amid limited trading at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $129.00 per tonne, down $6.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.17 per tonne, down $8.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $98.51 per tonne, down $7.08 per tonne65% Fe Brazil-origin fi...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
Base metals prices on both the Shanghai Futures Exchange and London Metal Exchange were, for the most part, up across the board on the morning of Monday October 11, along with Asia-Pacific equities.Metals stronger despite strong US treasury yields Brent crude oil approaching $84 per barrelDisappointing US employment report may hold US Federal Reserve back and give inflation a freer hand Base metal...Read More
Chinese domestic rebar prices continued to rise on Monday October 11 after steel mills increased their list prices, but market participants remain pessimistic about demand and prices for the rest of October.Domestic Eastern China (Shanghai): 5,940-5,990 yuan ($923-931) per tonne, up by 30-40 yuan per tonneThe major eastern China producer Shagang raised its list prices for HRB400 16-25mm rebar...Read More
Power cuts remained a prominent factor in China through the third quarter of 2021 as the world's second-largest economy grappled with soaring coal prices and its own strict limits on energy consumption - put in place to help the country achieve carbon neutrality by 2060.An increasing number of factories - especially those in energy intensive industries - have suffered from curbs to their power usa...Read More
Activity in the European hot-rolled coil market remained subdued on Tuesday October 12, with sentiment still bearish, sources have told Fastmarkets.The majority of European buyers have sufficient stocks to last until the end of the year and have only been purchasing smaller lots to restock particular specifications of coil. Distributors, however, were expected to return to the market for orders in...Read More
Canadian junior miner Rock Tech Lithium plans to develop a battery-grade lithium hydroxide conversion plant in the German region of Brandenburg, it announced on Monday October 11.The company is also developing a junior spodumene project in Ontario, Canada. The total investment required for the conversion plant in Germany would be ?,?470 million ($544 million), the company said. Once operational,...Read More
China's Zijin Mining Group is to buy Canada's Neo Lithium Corp for about C$960 million ($769 million), according to a company filing to the Shanghai Stock Exchange (SSE) on Monday October 11.At about C$6.50 per share in cash, the offer price represents a premium of approximately 36% over Neo Lithium's 20-day volume-weighted average price as of October 8 on the Toronto Stock Exchange (TSX) Ven...Read More
The export market for flat steel product from the Commonwealth of Independent States touched the bottom during the week to Monday October 11, sources said, while suppliers' mood has turned bullish.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $800-820 per tonne on Monday, unchanged week on week.Sales of both Ukraine and Russia-origin HRC were report...Read More
Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group (ERG) said.The issue at the heart of industrially mined cobalt supply is that it is almost exclusively a by-product of copper and nickel mining, Benedikt Sobo...Read More
The prices of imported steel rebar to the United Arab Emirates increased slightly in the week to Tuesday October 12, while sources expect other prices to increase because of rising energy costs globally, sources told Fastmarkets.Energy costs have been increasing in most markets, with steel mills adding the cost to their prices.Some of the rebar re-rollers in the UAE stopped accepting new orders du...Read More
The London Metal Exchange has registered the first sustainability disclosures on its new digital credentials register, LMEpassport, it announced on Tuesday October 12.LMEpassport is a platform register that enables a voluntary market-wide sustainable metals labelling program.Metals producers Anglo American Platinum, Antofagasta plc, Boliden, Companhia Brasileira de Alumnio (CBA), Freeport-McMoran,...Read More
Ecobat's Stolberg lead smelter will remain shut until spring 2022; regional tightness is pushing more consumers to look for spot units.The German lead plant, which declared force majeure due to floods in July, is still undergoing repair work, a company statement seen by Fastmarkets on Tuesday October 12 said. The smelter is in the process of procuring parts and equipment for the rebuild, the...Read More