China's domestic rebar prices remained flat on Wednesday June 30 on weak demand while the futures price gained.DomesticEastern China (Shanghai): 4,860-4,880 yuan ($752-755) per tonne, unchanged day on dayThe purchasing managers' index (PMI) for the steel industry was 45.1 points in June, down by 1 point from May, according to the China Federation...Read More
China's domestic rebar prices remained flat on Wednesday June 30 on weak demand while the futures price gained.DomesticEastern China (Shanghai): 4,860-4,880 yuan ($752-755) per tonne, unchanged day on dayThe purchasing managers' index (PMI) for the steel industry was 45.1 points in June, down by 1 point from May, according to the China Federation...Read More
Zinc premiums continued to increase in Antwerp and Rotterdam on Tuesday June 29 due to low supply but sources expect a downturn in August during the seasonally weaker period, while markets elsewhere were either stable or down during the week.Northern Europe zinc premiums set 40-month high on persisting supply tightnessLead, zinc premiums steady in US despite low availabilityContango, faltering dem...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 30 that are worth another look.BHP announced in 2018 that the depletion of its 80-million-tonnes-per-year Yandi mine in its Western Australia iron ore operations would begin from the second half of 2021. Fastmarkets explores how the low-grade fines landscape...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 grade, in-whs Rotterdam, $/lb at...Read More
German steel maker Thyssenkrupp is to replace its four blast furnaces and switch to a system based on direct-reduction of raw material using hydrogen by 2025, the company announced on Tuesday June 29, following a visit by federal government ministers.The company confirmed that it will gradually replace the blast furnaces with direct-reduction plants fueled by green hydrogen, each able to melt soli...Read More
A shipment of 4,000 tonnes of imported scrap booked by major Chinese steelmaker Hebei Iron & Steel (HBIS) cleared customs checks at Jingtang port in Tangshan, Hebei in early June, sources told Fastmarkets on Wednesday June 30. This is their second cargo of Japanese heavy scrap (HS) since China officially eased restrictions on scrap imports in January 2021. Their first cargo of 2,092 tonnes cleared...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 30 that are worth another look.BHP announced in 2018 that the depletion of its 80-million-tonnes-per-year Yandi mine in its Western Australia iron ore operations would begin from the second half of 2021. Fastmarkets explores how the low-grade fines landscape...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 30 that are worth another look.BHP announced in 2018 that the depletion of its 80-million-tonnes-per-year Yandi mine in its Western Australia iron ore operations would begin from the second half of 2021. Fastmarkets explores how the low-grade fines landscape...Read More
Australia-listed IGO Ltd has completed a transaction to form a new lithium joint venture with Chinese lithium producer Tianqi Lithium over the latter's Australian lithium assets, the company said on Wednesday June 30.In December 2020, the companies signed an initial investment agreement which saw Tianqi's wholly-owned subsidiary Tianqi Lithium Energy Australia Pty Ltd (TLEA) bring in IGO as a stra...Read More
Iron ore prices rose on Wednesday June 30 when concerns were raised about China's overall crude steel output for 2021, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.08 per tonne, up by $1.75 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.85 per tonne, up by $2.91 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.95 per tonne, up by $1.33 per t...Read More
Asian steel scrap imports fluctuated wildly from territory to territory in 2020, with South Korea and Bangladesh reporting decreases while Taiwan and Vietnam recorded increases.Japan, Asia's largest steel scrap supplier, exported 9.39 million tonnes of the steelmaking raw material last year - over a fifth more than in 2019.Vietnam became the single largest importer of Japanese scrap last year; at...Read More
Iron ore prices rose on Wednesday June 30 when concerns were raised about China's overall crude steel output for 2021, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.08 per tonne, up by $1.75 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.85 per tonne, up by $2.91 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.95 per tonne, up by $1.33 per t...Read More
Hot-rolled coil prices across China's domestic market moved higher on Wednesday June 30, supported by futures prices that are underpinned by expectations of lower production for the rest of this year. Domestic Eastern China (Shanghai): 5,420-5,460 yuan ($839-845) per tonne, up by 10-30 yuan per tonne from 5,390-5,450 yuan. The most-traded HRC contract on the Shanghai Futures Exchange resumed its r...Read More
Copper's three-month price has shown the biggest fall during June among base metals on the London Metal Exchange, rocked by Chinese announcements and rising inventories, while the prices of other base metals such as aluminium and tin were higher than on June 1.Copper's price was $9,374.50 per tonne on Wednesday June 30 at the close of trading, falling from $10,245 per tonne on June 1.Among the fac...Read More
Steel rebar prices in the north of Europe have remained firm at a high level over the past week, supported by strong demand, low stocks at buyers and limited imports, sources told Fastmarkets on Wednesday June 30.Producers in the region were reported to have no spare volumes for July, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern...Read More
Antofagasta has agreed to supply four major Chinese smelters with copper concentrates in the first half of 2022, with a treatment charge in the mid-$50s, Fastmarkets understands.The Chilean copper miner and representatives from China Copper, Jiangxi Copper, Tongling Nonferrous and Jinchuan Group held meetings for three days since Monday, sources said, with an agreement finally reached on the eveni...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday June 30.Key drivers Trading activity is in stasis, with market participants considering the potential impact of the recently announced export duties on ferro-alloys from Russia, which are effective from August 1 until the end of the year. A few small deals were reported for both alloy and scrap within the current price ranges. Ferro...Read More
News that several major producers had withdrawn from spot trading due to supply shortages has further strengthened China's spot ferro-chrome market, sending spot prices in the week to Tuesday June 29 to their highest point since April."With continuing energy controls in Inner Mongolia in June, our production has been increasingly disrupted due to tightened power restrictions," Jietie Ferroalloy sa...Read More
The European ferro-titanium and titanium scrap markets may be set to push higher in the coming months after news that Russia will impose an export tax on ferro-alloys between August 1 and December 31 this year, according to industry sources.Europe imported around 1,500 tonnes of ferro-titanium per month on average from Russia in the past three years, including Scandinavia and Turkey, with 1,700-1,...Read More