Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday August 25.Fola Malomo, Cristina Belda and...Read More
Chilean copper producer Codelco has initiated construction work on Rajo Inca, a $1.38-billion addition to its Salvador mine, which should begin operations in 2022, the state-owned company said on Tuesday August 24.Rajo Inca increases the mine life at Salvador by 47 years, to 2070, with copper capacity to reach 90,000 tonnes per year, from 60,000 tpy currently. Mineral exploration will move from an...Read More
Tsingshan Group has lowered its tender price for September-delivery ferro-chrome to 9,995 yuan ($1,543) per tonne, the Chinese stainless steelmaker said on Wednesday August 25.The tender price is 800 yuan per tonne (7.41%) lower than what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for August-delivery material.While lower than the previous month's 13-year high,...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 25.Please click...Read More
Shanghai-listed Hainan Mining says it will invest no more than 1.065 billion yuan ($164 million) for the construction of a 20,000-tonnes-per-year battery-grade lithium hydroxide plant in Dongfang Lingang Industrial Park in China's Hainan province.The construction of the plant is expected to take 18 months and the battery-grade lithium hydroxide it produces will supply downstream battery companies,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
The Turkish steel producers resumed their deep-sea scrap purchases with a European cargo deal, market participants told Fastmarkets on Wednesday August 25.A steel mill in the Iskenderun region booked the Belgian cargo comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The transaction is for prompt shipment.The HMS 1&2 (80:20) price of...Read More
Iron ore prices mostly increased on Wednesday August 25 despite weaker trading activity in the physical market, especially at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $148.66 per tonne, up by $2.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $148.95 per tonne, up by $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116.96 per to...Read More
Export prices for steel billet from the Commonwealth of Independent States continued to fall in the week to Wednesday August 25, with lower sales and bids heard.Latin American demand remained strong, with a 30,000-35,000 tonne Ukraine-origin cargo sold at $610 per tonne fob Black Sea, sources said. This is $20 per tonne cheaper than in bookings in the region in the first half of August.Other marke...Read More
Spot refined zinc ingot premiums have firmed to multi-year highs in the United States and Europe, with smelter hitches and increasingly expensive transportation stretching supply chains further during the summer season in the northern hemisphere.US spot zinc premium rises to a more than four-year high Rotterdam, Antwerp zinc premiums at highest since early 2018China market eyes narrowing negative...Read More
The UG2 chrome ore and ferro-chrome markets in China were on hold in the week to Tuesday August 24, with participants waiting for major stainless steel mills to release their September tender prices.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China was $182 per tonne on Tuesday, unchanged from one week earlier. The market was quiet with many buy...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday August 25 due to the quiet summer market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,644-1,679) per tonne on Wednesday, unchanged week on week.Trading remains low during the summer holidays - participants have not yet returne...Read More
Trading activity in the Commonwealth of Independent States' export long steel market remained sluggish in the week to Wednesday August 25 amid slow demand from Europe due to holidays in the region as well as continuing competition with Turkish suppliers.Turkish steel producers decreased their export offers for rebar to $680-695 per tonne fob on an actual weight basis last week, against $695-705 pe...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday August 25 due to the quiet summer market, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,644-1,679) per tonne on Wednesday, unchanged week on week.Trading remains low during the summer holidays - participants have not yet returne...Read More