The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
Italian steel re-roller Marcegaglia has been short-listed for the purchase of Italian stainless steelmaker Acciai Speciali Terni (AST), which is owned by German steelmaker Thyssenkrupp."We are really interested [in purchasing AST]. There has been the due diligence; we visited the plant this week. August will be the time for negotiations... [at the start of] September probably there will be some in...Read More
European steelmakers are returning to the bulk alloys markets for quarterly deliveries to be shipped between October and December due to persistent supply tightness, shipping delays and container shortages and strong steel production and prices, sources told Fastmarkets.It had appeared that steelmakers were satisfied with their current quarterly intake of ferro-alloys and would typically return fo...Read More
Prices for containerized ferrous scrap in the Taiwan import market continuedto fall during the week to Friday July 23 due to a resurgence of Covid-19 cases in many parts of Asia causing more lockdowns, sources told Fastmarkets.Fastmarkets' daily price assessment for containerized steel scrap, heavy melting scrap 1&2 (80:20), United States material import, cfr main port Taiwan was $450 per tonne on...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
Fastmarkets is inviting feedback from the industry on the pricing methodology for MB-AL-0005 aluminium pressure diecasting ingot DIN226/A380, delivered Europe, and MB-AL-0040 aluminum alloy A380.1, delivered Midwest, as part of a methodology review process to meet the International Organization of Securities Commissions (IOSCO) principles.This consultation, which is open until August 18, seeks to...Read More
Base metals prices were up across the board at the 5pm close of trading on the London Metal Exchange on Thursday July 22, with the market appearing to calm down after a recent period of choppy trading."Two positive macro dynamics were at work this morning, and have provided the LME base metals with much-needed support," Fastmarkets analyst Andy Farida said on Thursday."The US Dollar Index has star...Read More
A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More
Freeport McMoRan's subsidiary PT-Freeport Indonesia (PT-FI) is advancing agreements to expand its Gresik copper smelter and refinery by 30% and plans to up its stake in PT Smelting to a majority interest, the company said. The expansion is targeted for completion by the end of 2023 and will see annual capacity at PT Smelting - in which PT-FI currently has a 39.5% stake - increase by 300,000 tonnes...Read More
Fastmarkets has corrected its alumina index, fob Australia, which was published incorrectly on Tuesday July 20 and Wednesday July 21 due to an index calculation error.On July 20, the alumina index, fob Australia, should have been $289.74 per tonne but was incorrectly published as $289.62 per tonne.On July 21, the alumina index, fob Australia, should have been $291.11 per tonne but was incorrectly...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
Increasing supplies of H2-grade steel scrap have allowed South Korean buyers to obtain the material at lower prices in the week to Thursday July 22, sources told Fastmarkets.Summer maintenance rounds at various Japanese steelmakers have reduced consumption of material in that local market, but the tighter supply and strong demand seen in higher grades such as Shindachi busheling have kept prices f...Read More
Much higher supplies of natural gas, hydrogen, 'green' electricity, and steel scrap will be needed for the development of Direct Reduction Iron-Electric-arc Furnace (DRI-EAF) steelmaking processes in China,Baowu Group said on Thursday July 22."Developing the DRI-EAF steelmaking technologies is an important and inevitable step for the Chinese steel sector to achieve carbon neutrality," Xu Wanren, t...Read More
A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More
Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 22, but have generally recovered from Monday's weakness, suggesting the dip-buying mentality still dominates. Lead prices at fresh highs as German lead producer Berzelius declared force majeure on supply after severe flooding forced it to suspend operations at its Stolberg smelter. United States 10-year treasury yie...Read More
The European market for steel hot-rolled coil remained quiet on Thursday July 22, with most producers holding back offers amid seasonally slow trading, sources told Fastmarkets.Sentiment turned negative in Northern Europe after severe flooding in Germany and parts of Belgium reduced trading activity to close to zero, with buyers and sellers assessing the consequences for the market.Even though the...Read More
China's domestic hot-rolled coil prices edged lower on Thursday July 22 after market participants reacted to Beijing's latest efforts to stabilize commodity prices.DomesticEastern China (Shanghai): 5,800-5,900 yuan ($897-912) per tonne, widening by 20-60 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange touched an intraday low of 5,802 yuan per tonne in early afternoon tr...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
China's domestic rebar prices were unchanged on Thursday July 22 amid a confluence of opposing factors, but market participants expect them to regain their upward momentum soon.DomesticEastern China (Shanghai): 5,230-5,250 yuan ($809-812) per tonne, unchangedEnd-user demand for rebar continued to decline due to heavy rain in Henan province and high temperatures in other parts of China.But some res...Read More