The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
South Korea's Public Procurement Service (PPS) has awarded a 3,000-tonne aluminium tender at a premium of $168.5 per tonne, 10.1% higher than the premium it had awarded for another aluminium tender two weeks ago.The latest tender for London Metal Exchange-registered brands of high-grade primary aluminium ingot from a western origin - except those from China, India, Russia and Egypt - was awarded t...Read More
Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.In addition to retaining a minority...Read More
Member mills of China's Iron & Steel Association (Cisa) cut their production rate of crude steel, hot metal and finished steel in early July compared with the preceding 10 days, according to data published by the association on Wednesday July 14. July 1-10 outputCrude steel: 2.14 million tonnes per day, down 5.56%Finished steel: 1.96 million tpd, down 13.98% ...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
Tin continued to be unaffected by global macroeconomic pressures and reached a new year-to-date peak of $32,775 per tonne on the afternoon of Wednesday July 14, while other base metals traded on the London Metal Exchange ended the day's session with lower prices.The three-month price for tin closed 0.8% higher on Wednesday at $32,661 per tonne compared with Tuesday's 5pm price, with its all-time h...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
High inventories and falling domestic prices encouraged Brazilian suppliers to turn to export markets in June, following months of declining shipments, according to the national ferrous scrap association, Inesfa.Stronger demand for long steel in Brazil led mills to seek more scrap not only domestically, but also via imports, Inesfa's president, Clineu Alvarenga, told Fastmarkets on Tuesday July 13...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 14.Please click...Read More
Iron ore prices were largely rangebound on Wednesday July 14 despite activity on the trading platforms, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.66 per tonne, up by $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.00 per tonne, down by $1.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.41 per tonne, down by $0.25 per tonne65% Fe...Read More
Steel H-beam prices in Europe increased on Wednesday July 14 after mills raised their offer prices because they have full order books, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,050-1,080 ($1,242-1,277) per tonne on July 14, widening upward by ?,?10 per tonne from ?,?1,050-1,070 per tonne on July 7."The mills ha...Read More
Shipments of cobalt hydroxide from South Africa are likely to be delayed due to serious civil strife in the country; most market participants preferred to hold back activity until the effects on the markets become clearer.The civil strife in South Africa, with significant incidents in KwaZula-Natal province in eastern South Africa, was sparked by the jailing of former South African president Jacob...Read More
Chinese authorities are unlikely to lower barriers to allow more lower-grade scrap to enter the country, panelists said at the Singapore Steel Forum 2021 on Wednesday July 14.China imported 221,409 tonnes of ferrous scrap in the first five months of 2021, according to Chinese customs statistics, which was a 2,894% increase from the same period in 2020.Most of the material imported has been higher...Read More
The European Commission (EC) adopted on Wednesday July 14 a package of proposals under the EU Green deal that affect the metals industry, including a Carbon Border Adjustment Mechanism (CBAM).The CBAM will apply to imports into the EU of iron and steel, aluminium, cement, fertilizers and electricity.During a transition period from 2023 to 2025, importers will have to report the emissions embodied...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
The recent decline in prices of deep-sea ferrous scrap exports from North America to Turkey is expected to continue - and to extend throughout the global scrap markets with the onset of the traditional summer shutdown period, sources told Fastmarkets."The downturn we are seeing in current prices is typical of a seasonal market. We see Turkey sales down more; Asian sales [will likely be] down a lit...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.U.S. economic news to be released at 8:30 AM EDT and 9:15 AM EDT is expected to show extensions of recent advances. July Empire State Manufacturing Survey to be released at 8:30 AM EDT is expected to increase to 18.50 from 17.40 in June. July Philly Fed Index to be released at 8:30 AM ED...Read More
Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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 standard...Read More
Metal held outside of London Metal Exchange warehouses fell for the third month in a row to just above 1 million tonnes in May, according to data released by the LME, with the amount aluminium and copper falling by more than 10%.Across all metals, stocks fell by 140,246 tonnes through May to 1,037,379 tonnes, the latest LME off-warrant stock report shows, down from 1,177,625 tonnes in April.The bi...Read More