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
Hot-rolled coil prices in China's domestic market pulled back on Thursday August 12, with market participants shifting their focus away from expectations of a drop in supplies after weak lending data sparked concerns over liquidity.DomesticEastern China (Shanghai): 5,790-5,810 yuan ($894-897) per tonne, down by 30-50 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange moved...Read More
Domestic prices for cold-rolled coil in Europe were mostly stable in the week to Wednesday August 11 due to the seasonally slow market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe was ?,?1,270-1,320 ($1,489-1,548) per tonne on August 11, widening upward from ?,?1,270-1,310 per tonne ex-works one week earlier.The corresponding weekly pr...Read More
Steel rebar and billet prices remained unchanged in Egypt in the week to Thursday, August 12, with demand still only moderate, sources told Fastmarkets.Demand was limited in late July because of the Eid al-Adha festival on July 20-23.However, construction activity has picked up since the removal of the construction ban, the country's biggest...Read More
Turkish steel mills again stayed away from the deep-sea scrap market on Wednesday August 12, while finished steel prices edged lower, sources told Fastmarkets.No new deep-sea cargoes were heard on the market today, continuing a trend of silence, although falling finished steel prices are beginning to weigh on market sentiment and purchasing decisions. The price of rebar in Turkey's domestic...Read More
Battery supply chain participants have prioritized securing lithium in the second half of 2021, but nickel has also been a headache for sourcing directors, who are less concerned about cobalt supplies, a Fastmarkets survey has found.Fastmarkets conducted a survey of market participants in the battery supply chain - mainly battery materials producers -to assess which battery metals pose the biggest...Read More
Italian domestic steel scrap prices decreased in the month to Thursday August 12 following the trend in the international markets, sources told Fastmarkets.Apart from the decline in international scrap prices, the seasonal slowdown and stoppages across the European market also contributed to the domestic price drop.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin,...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 12 that are worth another look.German steelmaker Salzgitter plans to restart its 'C' blast furnace in November this year, a company spokesman told Fastmarkets on August 12.A strike at Codelco's Andina mine in Chile will start at 8am local...Read More
China's domestic rebar prices fell on Thursday August 12, with end-user demand falling away due to heavy rainfall across large parts of the country.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, down by 30 yuan per tonneHeavy rain hit a large parts of China in recent days, interrupting construction activity and disrupting the transportation of rebar from warehouses.More h...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 12 that are worth another look.German steelmaker Salzgitter plans to restart its 'C' blast furnace in November this year, a company spokesman told Fastmarkets on August 12.A strike at Codelco's Andina mine in Chile will start at 8am local...Read More
China's domestic rebar prices fell on Thursday August 12, with end-user demand falling away due to heavy rainfall across large parts of the country.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, down by 30 yuan per tonneHeavy rain hit a large parts of China in recent days, interrupting construction activity and disrupting the transportation of rebar from warehouses.More h...Read More
Prices in the British market for steel scrap deliveries to domestic steelmakers have dropped for August 2021, snapping a run of gains in the past three months on lower demand and weaker export prices amid the seasonal summer slowdown, sources said on Thursday August 12.Prices for scrap supplied to British steelmakers were down in general by around ?5 ($7) per tonne in August, although some report...Read More
Battery supply chain participants have prioritized securing lithium in the second half of 2021, but nickel has also been a headache for sourcing directors, who are less concerned about cobalt supplies, a Fastmarkets survey has found.Fastmarkets conducted a survey of market participants in the battery supply chain - mainly battery materials producers -to assess which battery metals pose the biggest...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 12 that are worth another look.German steelmaker Salzgitter plans to restart its 'C' blast furnace in November this year, a company spokesman told Fastmarkets on August 12.A strike at Codelco's Andina mine in Chile will start at 8am local...Read More
Zimbabwe has banned exports of raw chrome ore with immediate effect and will ban exports of chrome concentrates from July 2022 in order to secure its ferro-chrome industry, the country's cabinet announced on August 3, in a move which proponents of a South African chrome ore export tax believe has strengthened their case."A [total of] 22 smelters are now operating and are shared among nine foreign...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 12 that are worth another look.German steelmaker Salzgitter plans to restart its 'C' blast furnace in November this year, a company spokesman told Fastmarkets on August 12.A strike at Codelco's Andina mine in Chile will start at 8am local...Read More
Most prices were down on the afternoon of Thursday August 12 on the London Metal Exchange, with zinc reporting the largest fall, while nickel's three-month price was the only metal to register a gain, of 1.6%. The three-month price of zinc fell to $2,992.50 per tonne on Thursday after reaching $3,043.50 per tonne on Wednesday. Its cash-to-three month spread was last at a $8.25 per tonne conta...Read More
Iron ore prices fell on Thursday August 12, on weakening market sentiment prompted by limited demand and thin liquidity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.96 per tonne, down $2.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $163.19 per tonne, down $2.78 per tonne58% Fe fines high-grade premium, cfr Qingdao: $130.72 per tonne, down $3.56 per t...Read More
Tesla, the United States-based manufacturer of electric vehicles (EVs), is implementing a blockchain solution for end-to-end cobalt traceability in partnership with Glencore, China Molybdenum (CMOC) and Eurasian Resources Group (ERG), Glencore announced in a press release dated Thursday August 12.The Re|Source blockchain platform that Tesla is piloting was founded by Glencore, CMOC and ERG, and wa...Read More
Battery supply chain participants have prioritized securing lithium in the second half of 2021, but nickel has also been a headache for sourcing directors, who are less concerned about cobalt supplies, a Fastmarkets survey has found.Fastmarkets conducted a survey of market participants in the battery supply chain - mainly battery materials producers -to assess which battery metals pose the biggest...Read More