The 2022 Winter Olympics and Winter Paralympic Games will test China's resolve on decarbonization, with new pollution control measures likely to be imposed for the major sporting event, sources told Fastmarkets.Beijing and the surrounding area of Hebei, including Yanqing and Zhangjiakou, will host 109 sporting events in 15 disciplines on February 4-20 in 2022 for Winter Olympic Games and March 4-1...Read More
Increased offer prices for silico-manganese in India in the week to August 10 may stop the downward trend in the Indian silico-manganese export market, sources told Fastmarkets.Offer prices for domestic silico-manganese (60% Mn min/min 14% Si) increased to 95,000-96,000 rupees ($1,278-1,292) per tonne on Friday, from 93,000-94,000 rupees at the start of August, against renewed demand from Indian s...Read More
The 2022 Winter Olympics and Winter Paralympic Games will test China's resolve on decarbonization, with new pollution control measures likely to be imposed for the major sporting event, sources told Fastmarkets.Beijing and the surrounding area of Hebei, including Yanqing and Zhangjiakou, will host 109 sporting events in 15 disciplines on February 4-20 in 2022 for Winter Olympic Games and March 4-1...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 10 that are worth another look.Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on August 10.If any member was going...Read More
Global aluminium premiums were supported across the globe by insufficient supply, strong demand and rising freight rates, although market illiquidity kept Asian and Brazilian markets static during the week to Tuesday August 10.US Midwest market sets another record high on tight supplyRotterdam premiums hold at all-time high amid strong fundamentalsJapanese, South Korean premiums unchanged due to s...Read More
Prices for hot- and cold-rolled steel sheet in Russia's Central Federal District around Moscow went down as expected in the week ended Monday August 9, while the price of steel plate was stable despite downbeat sentiment among both mills and stockists, sources have told Fastmarkets.Hot-rolled sheetTwo key flat steel producers reduced their prices for HR sheet over the week by 7,200-7,500 roubles (...Read More
Most prices for steel import into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday August 10 because of weak demand, sources told Fastmarkets.The main reasons for the poor level of demand was said to be the holiday season, as well as the fact that buyers wanted to see prices reach a bottom before placing orders.Saudi ArabiaIndia offered hot-rolled coil at $960-980...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 10 that are worth another look.Germany's Thyssenkrupp ended force majeure at its Steel Europe division on August 6, the company's spokesperson told Fastmarkets on August 10.If any member was going...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
Tin's three-month price reached a new all-time high of $35,300 per tonne on the London Metal Exchange, with continued tightness continuing to grip the market, while the rest of the complex rose by an average of 1.3% on Tuesday August 10. Tin's three-month price has increased by around 9.5% in the last month, having had an intraday high of $32,250 per tonne on July 12. Around 470 lots of tin h...Read More
The waiting time to deliver aluminium out of Istim's London Metal Exchange-registered warehouses in Johor, Malaysia, has risen to 78 days, according to the LME's latest queue report.The 78-day queue at the end of July is up from just eight days at the end of June. Over July, no fresh units were delivered into Istim's Johor warehouses and only 34,275 tonnes were delivered out. Total stock now sits...Read More
Iron ore prices fell significantly on Tuesday August 10 due to continuing weak demand, with production cuts and pollution-control measures in China's Tangshan city, in preparation for February's 2022 Winter Olympics, further depressing market sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.44 per tonne, down $10.07 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.75 per...Read More
Tin's three-month price reached a new all-time high of $35,300 per tonne on the London Metal Exchange, with continued tightness continuing to grip the market, while the rest of the complex rose by an average of 1.3% on Tuesday August 10. Tin's three-month price has increased by around 9.5% in the last month, having had an intraday high of $32,250 per tonne on July 12. Around 470 lots of tin h...Read More
Prices for domestic steel rebar in Russia's Central Federal District have continued to decline, losing another 3000-5000 roubles ($41-68) per tonne in the seven days to Monday August 9.Market participants expect the downward trend to prevail until the busy construction season ends in early November.Considering the high prices on offer from traditional suppliers in the Moscow area, stockists have b...Read More
The waiting time to deliver aluminium out of Istim's London Metal Exchange-registered warehouses in Johor, Malaysia, has risen to 78 days, according to the LME's latest queue report.The 78-day queue at the end of July is up from just eight days at the end of June. Over July, no fresh units were delivered into Istim's Johor warehouses and only 34,275 tonnes were delivered out. Total stock now sits...Read More
Chinese lithium battery producer EVE Energy has signed a memorandum of understanding (MoU) with battery materials producer GEM to recycle more than 10,000 tonnes per year of nickel from spent nickel-containing batteries as of 2024, EVE Energy said on Monday August 9.Under the terms of the MoU, starting in 2024 GEM has agreed to recycle nickel products and provide EVE Energy with more than 10,000 t...Read More
Tianshan Aluminum has signed a cooperation deal with an unnamed Indonesia bauxite company, it said on August 10 - a move to secure more supply and boost its competitiveness.Tianshan will buy no less than 49% of shares of the bauxite company through direct or indirect acquisitions, the company told the Shenzhen Stock Exchange website, where it is listed.Tianshan hopes to expand its cooperation with...Read More
The departure of Triland Metals Ltd from the ring of the London Metal Exchange does not trigger its permanent closure, with the floor still set to reopen on September 6, the exchange confirmed.Triland, one of the nine current Category 1 members of the LME, said in a letter to customers earlier on August 10 that it has applied to switch to Category 2 membership and will not return to the ring when...Read More
Aluminum smelters in China's Guangxi province have been notified by Guangxi Power Grid Company to reduce their regular power consumption by at least 30% before August 15 by staggering power usage, sources told Fastmarkets.Guangxi province has a yearly operating capacity of 1.9 million tonnes per year of aluminium and is currently operating at 93% of capacity. "We estimate that [output will re...Read More
Hot-rolled coil prices in the United States achieved yet another record high, with debate now intensifying over whether mills can eventually collect $2,000 per short ton ($100 per hundredweight) on hot band.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.67 per cwt ($1,893.40 per ton) on Tuesday August 10, an increase of 0.65% from $94.06 per cwt on Monday August...Read More