China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Wednesday July 14, after stronger-than-expected inflation data from the United States on Tuesday raised concerns.US consumer price index (CPI) climbed by 0.9% month on month in June, after a 0.6% rise in MayUS 10-year treasury yields rebound to 1.4%, after a low of 1.25% last week...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
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
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
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
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
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
China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...Read More
The London Metal Exchange will launch a new lithium futures contract on Monday July 19, settled against Fastmarkets' assessment for battery-grade lithium hydroxide. The contract will help cater to a growing need among original equipment manufacturers (OEMs), improving risk management across the supply chain, experts said.Antonio Masiero, the LME's product development manager, confirmed the launch...Read More
Domestic prices for hot-rolled coil across Europe have remained high despite a slowdown in demand and competitive import offers, sources told Fastmarkets on Wednesday July 14.Buyers were reported to be largely inactive in the market due to the effect of the seasonal slowdown. They have also been holding back from acquiring substantial volumes over the past few weeks, mainly due to still-high price...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
Domestic prices for cold-rolled coil in Europe have remained high despite competitive import offers to the region in the week to Wednesday July 14, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, import, cfr main port Northern Europe, was ?,?1,150-1,200 ($1,360-1,419) per tonne on July 14, down by ?,?50 per tonne week on week from ?,?1,200-1,250 per tonne.The assessmen...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
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
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
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
South African manganese alloys producer Transalloys has declared force majeure after nationwide protests, triggered by the jailing of ex-president Jacob Zuma for failing to appear at a corruption inquiry last week, widened into riots and looting, disrupting its operations.The duration of the force majeure is unclear, with the restoration of full operations dependent on the end of disruptions cause...Read More
Automotive producers are likely to be the first downstream sector to shift toward using "green steel," Saudi Arabian steel producer Sulb Co's chief executive Ravi Singh told delegates at the Singapore Steel Forum 2021 on Wednesday July 14.He said car producers have consistently been the main innovators among the main manufacturers using steel products. "Major automotive producers such as Merc...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More