An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
Chinese spot trading interest in copper cathode was minimal in the week to July 7 after the state held its first ever public auction of nonferrous metals. Since July 5, China sold 100,000 tonnes of non-ferrous metals at discounts via a public tender only open to fabricators, as part of the state's ambition to rein in the rally in commodity prices and rising procurement pressure.The Chinese governm...Read More
Spot prices for standard and alloy grade cobalt have continued to trend higher since the beginning of this week, driven by aggressive offers and a pickup in end-user demand in Europe and the United States, Fastmarkets heard on Wednesday July 7.Available spot units remained in tight hands, with producers' availability low and traders holding back their offers in expectation of further price increas...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.Fastmarkets assessed Cobalt...Read More
China's domestic rebar prices rose slightly on Wednesday July 7, but the gains were much lower than those in the futures market.DomesticEastern China (Shanghai): 4,960-4,990 yuan ($767-771) per tonne, up by 10 yuan per tonneHeavy rain in large parts of China and high temperatures in the south have pushed down end-user demand for rebar, with one trader in Shanghai describing spot demand as "really....Read More
Base metals rallied in morning trading on Wednesday July 7 with copper leading the pack higher.At $9,495 per tonne the LME three-month copper contract was up 1.96% from Tuesday's 5pm close."Yesterday, we said the metals were looking more upbeat because copper had broken higher, but given the weakness seen yesterday, the market looks a bit flighty, so we will wait to see if the dip buying pushes co...Read More
Premiums in the United States and Europe continued to rise in the week ending Tuesday July 6 with news that the Russian government will impose export duties continuing to fuel bullish sentiment.US Midwest at new all-time highRussian export tax pushes Rotterdam up againWait and see approach in AsiaUS Midwest premium sets new high againFastmarkets assessed the aluminium P1020A premium, ddp Midwest U...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday July 7 because stocks are replenished following the renewed import quota, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,370-1,420 ($1,631-1,690) per tonne on July 7, unchanged week on week.Hot rolled coil, the feedstock for hollow sections, remain...Read More
Prices of most base metals rose slightly on the London Metal Exchange on Wednesday July 7 but with aluminium bucking the trend, going down by 1.2%.The LME three-month copper contract ended the trading session at $9,455 per tonne at 5pm, up by 1.5% from Tuesday.Investors in the red metal were dip-buying on Wednesday after its price dropped on Tuesday in a knee-jerk reaction to negative macro-econom...Read More
China's output of recycled non-ferrous metals is set to reach 20 million tonnes by 2025, the country's National Development and Reform Commission (NDRC) said on Wednesday July 7. The output target forms part of the NDRC's resource recycling industry development plan, which aims to accelerate the development of a green and low-carbon circular economy during China's 14th Five-Year Plan (2021-2025).A...Read More
Steel producer Feralpi Group has increased its investments into decarbonisation projects and plans to improve production processes as part of its industrial development strategy, the company said.Technical investments for its 2020 year rose to ?,?55.6 million ($65.6m), as part of its industrial plan, which is aimed at achieving maximum efficiency of operations, reducing consumption and emissions.T...Read More
Singapore is well-placed to continue playing a growing role in the global commodities market amid the possible likelihood of Covid-19 turning endemic, the Singapore Exchange's head of commodities, William Chin, told Fastmarkets in an interview ahead of Singapore International Ferrous Week 2021."Covid-19 brought the entire commodities industry into uncharted waters and threw out century-old playboo...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Fastmarkets is proposing to launch a fortnightly China pig iron import price assessment to enhance its growing editorial coverage of the Asian market for the steelmaking raw material.The new assessment will be for pig iron with maximum 1.25% manganese content and maximum 0.15% phosphorus content.Market sources expect China to import pig iron in increasing volumes due to its evolving steel industry...Read More
China's new trend pf setting out unwritten rules for its commodities industries and communicating them verbally will be a key method to watch out for in the future, market sources told Fastmarkets."Unofficial communications to steel mills are increasingly [coming] via provincial and township authorities [and are], not written out clearly as announcements," an iron ore trader in eastern China told...Read More
The Turkish steel producers continued to hold back from the deep-sea scrap import markets on the second working day of the week due to limited demand for finished long steel products, market participants told Fastmarkets on Tuesday July 6.The mills in the country booked four deep-sea cargoes last week, three of which were booked by a single steel mill.The most recent deal was concluded at $495 per...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
The United States' Department of Commerce announced on July 2 that they will sanction China's Wanbao Mining and its entities for supporting Myanmar's military regime.The entities are involved in copper mining and satellite services. They are Wanbao Mining Ltd., its two subsidiaries - Myanmar Wanbao Mining Copper, Ltd. and Myanmar Yang Tse Copper, Ltd. - and King Royal Technologies Co., Ltd.Read More
China's domestic rebar prices continued their upward trend on Tuesday July 6 on restocking demand, but end user demand soured, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($767-771) per tonne, up by 80 yuan per tonneTrading houses raised their procurement rates on Monday to build up inventories in anticipation of lower production in the second half of 2021.The...Read More
China's domestic rebar prices continued their upward trend on Tuesday July 6 on restocking demand, but end user demand soured, sources told Fastmarkets.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($767-771) per tonne, up by 80 yuan per tonneTrading houses raised their procurement rates on Monday to build up inventories in anticipation of lower production in the second half of 2021.The...Read More