Standard-grade cobalt metal was trading at a premium over alloy-grade for the first time since March on Monday September 20 amid spot demand in Europe for tightening briquette and broken cathode supply.Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam was $24.60-25.00 per lb on Monday, up from $24.45-25.00 per lb on the previous Friday.This marks the first time t...Read More
The European charge and high-carbon ferro-chrome benchmark for the fourth quarter of 2021 has leapt to $1.80 per lb Cr, a jump of 24 cents per lb (15.38%) from the second and third quarters.The settlement is announced every quarter by Merafe Resources, which operates a chrome joint venture with trader-miner Glencore in South Africa.The benchmark is a forward-looking price for the coming quarter. I...Read More
Base metals prices on the LME were mainly rebounding on Wednesday September 22, after dip buyers took advantage of Tuesday's price weakness, while metals in Shanghai were mixed but mainly down in response to the downturn in London this week.Risk-off sentiment eased slightly as Chinese property giant Evergrande said it would pay some of the interest on its bonds, due Thursday, but the market is als...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 24 points in pre-opening trade. Index futures were relatively quiet prior to release of the Federal Reserve's statement on the Fed Fund rate at 2:00 PM EDT. Consensus is that the Federal Reserve will maintain its current fixed income purchase program without tapering. FedEx dropped $7.89 to $244.50 after the company re...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More
The International Aluminium Association (IAI) has released a new decarbonization dataset showing that carbon dioxide emissions from smelting could fall by nearly 90% from 2018 to 2050 if the industry aligns with sustainability targets.In addition, refining emissions could drop by almost half over the same period, it said.The sustainability goals are based on Beyond 2 ?C Scenario (B2DS) targets est...Read More
Base metal futures all closed in the red on Monday after fears over China's property building sector prompted a selloff in global financial markets.At the 5pm close on Monday, London Metal Exchange three-month copper futures were at $9,033 per tonne, down by $279 - or 3% - against Friday's end of market levels. Aluminium dropped the least of the complex, down by 0.77% at $2,863 per tonne.China's s...Read More
The latest data for the global manganese ore market for the week ended September 17, 2021.Read More
Ferro-vanadium prices have been under pressure since August 18, Fastmarkets has heard, with traders taking profit and cutting their offers to encourage sales, which has led some producers to step out of the market.Now, in mid-September, some market participants expect prices to stabilize with more demand from steel mills in Europe, while others remained pessimistic due to current market headwinds...Read More
Treatment and refining charges (TC/RCs) for copper concentrates were stagnant in the week ended Friday September 17, with the spot market quietening ahead of the Mid-Autumn festival in China.Fastmarkets' copper concentrates TC/RC index, cif Asia Pacific was flat week on week at $60.1 per tonne, or 6.01 cents per pound."The Japanese are full,...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More
Spain-based ferro-alloys producer Ferroglobe is idling one of its silicon metal furnaces at its Sabon plant in Galicia because of high electricity prices, according to local trade union Confederaci??n Intersindical Galega (CIG).Ferroglobe has three furnaces at its Sabon plant, each with a nameplate annualized capacity of about 14,000 tonnes. Typical output is around 10,000 tonnes per year of a mix...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More
The International Aluminium Association (IAI) has released a new decarbonization dataset showing that carbon dioxide emissions from smelting could fall by nearly 90% from 2018 to 2050 if the industry aligns with sustainability targets.In addition, refining emissions could drop by almost half over the same period, it said.The sustainability goals are based on Beyond 2 ?C Scenario (B2DS) targets est...Read More
Turkish steel mills started the week in silence, with deals from the previous week just coming to light, market participants told Fastmarkets on Monday September 20.A shipment of United States-origin scrap was heard booked last Wednesday by a mill in the Iskenderun region, comprising unspecified volumes of HMS 1&2 (90:10) at $442...Read More
Chinese cobalt producer GEM Jiangsu has begun a 20-day production pause at its plant in Taizhou city, Jiangsu province in response to the "dual control" energy-consumption policy in the region, a company source told Fastmarkets on Friday September 17.Local authorities have instructed all manufacturers in Taizhou city and Xinghua city to halt production from September 17 to October 8to curb energy...Read More
European buyers of hot-rolled coil were holding back from making new deals on Monday September 20 on expectations of a price decline, sources have told Fastmarkets.Negative sentiment has been generated by reduced demand for flat steel from the automotive sector. European car manufacturers were unlikely to consume coil at the rate previously expected because of the global shortage of semiconductor...Read More
Weakening sentiment in the European hot-rolled coil market has been driven by reduced demand from the automotive sector and high volumes of imports awaiting customs clearance, sources said during the week to Friday September 17.European automotive manufacturers are unlikely to consume coil products at the rate previously expected due to the knock-on effects of the global shortage of semiconductor...Read More
Here are five Fastmarkets stories you might have missed on Friday September 17 that are worth another look.A dire shortage of truck drivers and rail cars and unforeseen levels of demand while businesses reopen from Covid-19 pandemic-related shutdowns are among the factors contributing to the current logistics woes in the United States that have sparked...Read More
Here are five Fastmarkets stories you might have missed on Monday September 20 that are worth another look.Latin American steel association Alacero is concerned about a potential flood of Chinese and Turkish rebar in Colombia if a request to cut or eliminate import duties is granted amid recent increases in local capacity, it said...Read More