Seaborne manganese ore markets were quiet during the week to Friday July 23, with low-grade manganese ore prices remaining under pressure from heavy stocks of South African material in Chinese ports.Fastmarkets' calculation of the manganese ore index, 37% Mn, cif Tianjin edged down by 7 cents per dry metric tonne unit (dmtu) to $4.58 per dmtu on Friday from $4.65 per dmtu on July 16.The index...Read More
A summary of China's battery raw materials exports for June 2021.In brief Exports of cobalt tetroxide increased both month on month and year on year in June amid rising buying appetite from South Korea, the Netherlands and Belgium.Lithium carbonate exports fell slightly on a monthly...Read More
Rio Tinto is cutting production at its BC Works aluminium smelter in Kitimat, Canada, to just 35% of its annual capacity, after workers went on strike following failed labor contract negotiations.That would bring production at the 432,000-tonnes-per-year smelter to just over 150,000 tonnes."We will continue to look for longer-term solutions with the union and work closely with customers and suppli...Read More
Norway-based aluminium and renewable energy producer Norsk Hydro hopes to increase annual earnings by as much as 1.1 billion krone ($124 million) through investments into recycling and the use of post-consumer scrap, according to chief financial officer P??l Kildemo.Kildemo was speaking to Fastmarkets in an exclusive interview on Friday July 23, after Hydro announced its second-quarter results.The...Read More
A summary of China's battery raw materials imports for June 2021.In Brief Imports of cobalt intermediates increased in June with improved logistics and buying appetite increased due to rising downstream cobalt salts prices. Imports of cobalt metal decreased month on month with most materials being purchased by overseas buyers driven by...Read More
Canada-based supplier First Cobalt has extracted nickel, cobalt, copper, manganese, lithium and graphite from a "black mass" product recovered from recycled batteries, the company said on Thursday July 22.The extraction was done at the company's hydrometallurgical refinery located north of Toronto.Black mass represents the main chemical composition of the battery, and is obtained after removal of...Read More
The price of nickel ore narrowed upward amid limited supply in the week to Friday July 26 amid bad weather and increasing Covid-19 infections in southeast Asia, while the cargo liquefaction of nickel ores also concerned sources, Fastmarkets learned.Fastmarkets' latest assessment for the price of laterite ore with 1.5% Ni content, cif China was $78-80 per tonne on Friday July 23, up by $3 (1.0...Read More
Prices for carbon steel plate in the United States shot up after three weeks of stability following a mill price hike, and market participants expect monthly increases from domestic steelmakers will continue through the second half of the year.Fastmarkets' weekly assessment for steel cut-to-length plate carbon grade, fob mill US reached an all-time high of $80 per hundredweight ($1,600 per short t...Read More
Hot-rolled coil prices in the United States remained below $91 per hundredweight ($1,820 per short ton) for the second business day in a market that has reported a small increase in spot volume trade in the last week.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.61 per hundredweight ($1,812.20 per short ton) on Monday July 26, down 0.21% from $90.80 per cwt on F...Read More
Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...Read More
Domestic prices for hot-rolled coil inched down in Northern Europe but were unchanged in Italy on Monday July 26 due to limited trading activity, sources told Fastmarkets.Offers from Northern European suppliers remained limited. Mills in the region had good order books and could only offer fourth-quarter-production HRC, with some of them claiming to be sold out until the end of the year, sources s...Read More
ArcelorMittal is to enter a partnership with Sekisui Chemical on a carbon capture project, and invest in a renewable energy storage company as part of its XCarb innovation fund, the steelmaker has announced.The project will be intended to capture and re-use carbon waste gases from the steelmaking process, contributing to the decarbonization of steelmaking and reducing dependence on fossil resource...Read More
There was no activity in the spot pig iron import market in the United States during the week to Friday July 23, because buyers have refrained from booking in wait of lower prices.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $625-640 per tonne on Friday, narrowing downward by $5 from $625-645 per tonne a week prior.The most recent bookings in the spot market were...Read More
Brazil's pig iron export market remained frozen during the week to Friday July 23, with sentiment weakening further due to a lower workable level for buyers, market participants said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was stable week on week at $620-625 per tonne on Friday, unchanged since early July due to the absence of export activity."There are....Read More
Turkish steel producers started the week with no deep-sea trade after the holiday periods in the country, market participants said on Monday July 26.Steel trade in Turkey has been mostly on hold since July 15 due to the public holidays observed in the country.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July 19-23.But market participa...Read More
Iron ore prices edged up on Monday July 26 due to higher steel prices, while news of production cuts in China affected the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.74 per tonne, up by $1.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.93 per tonne, up by $1.07 per tonne58% Fe fines high-grade premium, cfr Qingdao: $167.65 per tonne, up b...Read More
Seaborne coking coal prices continued to be supported by regular procurement demand in the cfr market on Monday July 26, while the fob market was largely stable on new buying interest for August-loaded cargoes.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.63 per tonne, down $0.43 per tonnePremium hard coking coal, cfr Jingtang: $315.07 per tonne, up $0.66 per tonneHard coking coal, f...Read More
Crude steel production cuts that are gradually being implemented in China have resulted in a switch in preference for iron ore brands among steelmakers in the country, sources told Fastmarkets.While the overall demand for iron ore has started to weaken, low-grade fines are generating more buying interest, sources said.A month ago, low-grade fines started to gain favor among mills amid weakening ma...Read More
Prices for seaborne iron ore pellets and concentrate went down in the week ended Friday July 23 amid a downtrend in the wider market for the steelmaking raw material.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $60.80 per tonne, down $1.20 per tonne. 65% Fe blast furnace pellet, cfr Qingdao: $295.27 per tonne, down $8.96 per tonne.66% Fe concentrate, cfr Qingda...Read More
China's domestic prices for hot-rolled coil increased on Monday July 26 due to early-hour futures gains, but the export market was inactive due to participants' concern about a possible export duty.DomesticEastern China (Shanghai): 5,900-5,910 yuan ($910-911) per tonne, narrowing upward by 40 yuan per tonneSome sellers raised prices following strong futures in the morning. The most-traded October...Read More