Base metals prices on the London Metal Exchange were mixed at the 5pm close on Wednesday October 13, with zinc performing particularly well during the day's trading.The LME three-month price of zinc led the complex on Wednesday; it was up by 4.4% to $3,401.50 per tonne from $3,263 per tonne at Tuesday's close, after hitting an intraday high of $3,440 per tonne."LME fund managers turned bullish tow...Read More
China's output and sales of automobiles declined in September on an annual basis amid a shortage of semiconductor chips and the country's "dual control" energy-consumption policy, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Tuesday October 12.Carmakers in China produced 2.08 million units in September, up by 20.4% month on month but down by 17.9...Read More
The price of steel hollow sections in Europe remained flat in the week to Wednesday October 12, despite pressure from falling feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,275-1,330 ($1,472-1,535) per tonne on October 13, unchanged week on week.Domestic hollow section prices were under pressure...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...Read More
A price gap between spot and tender prices developed in China's ferro-chrome market in early October after sellers in the spot market raised their prices because of supply tightness, while major stainless steel mills decided to keep their tender prices flat from the previous month.Offers heard in the spot market continued to rise after China's National Day holiday on October 1-7, due to limited av...Read More
A lack of vehicle-charging infrastructure, along with constraints on the supply of battery raw materials, were the major challenges to growth in the adoption of electric vehicles (EVs), the chief executive officer of diversified mining company Eurasian Resources Group (ERG) has said.Lithium, cobalt, nickel, manganese and graphite are critical raw materials for the production of battery cathodes an...Read More
Domestic hot-rolled coil prices in China moved within a wide range on Wednesday October 13, after futures took a rollercoaster ride amid an uncertain outlook for supply and demand. DomesticEastern China (Shanghai): 5,700-5,880 yuan ($885-913) per tonne, widening by 50-120 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange extended its losses to an intraday low of 5,482 yua...Read More
Domestic rebar prices in China decreased sharply on Wednesday September 13 due to rising inventory levels and an outlook of higher production rates.Domestic Eastern China (Shanghai): 5,720-5,760 yuan ($887-893) per tonne, down by 200 yuan per tonneSpot market inventories of rebar in 20 major Chinese cities totaled 5.13 million tonnes on October 10, up by 60,000 tonnes from September 30,...Read More
Seaborne coking coal prices in the cfr China market were broadly stable on Wednesday October 13, while fob prices inched lower amid limited buying interest due to high offers, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $608.85 per tonne, down $0.10 per tonne Hard coking coal, cfr Jingtang: $559.46 per tonne, up $1.16 per tonnePremium hard coking coal, fob DBCT:...Read More
The rise in October's Kanto Tetsugen auction boosted sentiment in the Japanese scrap market and supported export offers from Japan, sources told Fastmarkets on Wednesday October 13. Japan local market pushes export offers higher Vietnam buyers increase bids Chinese buyers in wait-and-see mode due to losses in futuresJapan Offer prices for bulk cargoes of steel scrap from Japan rose again on Wedn...Read More
Hot-rolled coil prices in the United States dipped slightly once again - remaining under $97 per hundredweight ($1,940 per short ton) for the fourth consecutive business day - while spot tonnages remained scarce and contract negotiations for 2022 supply were said to be in the final stretch.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.79 per cwt ($1,935.80 per t...Read More
Higher electricity prices have added to the production costs of chrome alloy, especially low-carbon ferro-chrome, during the week to Tuesday October 12, at a time when the market was already short of material with prices at multi-year highs.Fastmarkets assessed ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe at $3.05-3.25 per lb Cr on Tuesday, up 7-15 cents (+3.6%) from $2.90-3.18 per lb...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
Steel mills announced price increases for November-delivery hot-rolled sheet and heavy plate in Russia's Central District around Moscow on Monday October 11, but are likely to face stiff opposition from buyers, sources told Fastmarkets this week.Market participants said they doubted that such fast rates of increase could be absorbed by the market, especially considering the onset of the off season...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 13 that are worth another look.Pipe producer Vallourec and Brazilian tube, bar and stainless steel distributor Grupo A??otubo announced a joint venture to supply steel tubes and pipes to industrial clients.Major zinc producer Nyrstar will cut production...Read More
Domestic and imported steel reinforcing bar prices in the United States were sideways on Wednesday October 13, and market participants expect it to stay that way for a few more weeks at least.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday October 13, unchanged since August 11 but up by 65.55% from $29.75 per cwt...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 13 that are worth another look.Pipe producer Vallourec and Brazilian tube, bar and stainless steel distributor Grupo A??otubo announced a joint venture to supply steel tubes and pipes to industrial clients.Major zinc producer Nyrstar will cut production...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 13 that are worth another look.Pipe producer Vallourec and Brazilian tube, bar and stainless steel distributor Grupo A??otubo announced a joint venture to supply steel tubes and pipes to industrial clients.Major zinc producer Nyrstar will cut production...Read More
Higher or more volatile prices for critical minerals such as lithium, cobalt, nickel, copper and rare earth elements could slow global progress toward a clean-energy future or make it more costly, according to the International Energy Agency (IEA).In its World Energy Outlook report released on Wednesday October 13, the IEA said that price rallies for key minerals in 2021 could increase the costs o...Read More
Domestic prices for hot-dipped galvanized coil decreased across Europe in the week ended Wednesday October 13 due to weaker demand from distributors and the automotive sector, sources told Fastmarkets.Sources expect distributors to return to the market in November. While the majority of European distributors have sufficient stocks to last until the year-end, they will need to restock for the first...Read More