Prices for steel hollow sections in Europe rose on Wednesday June 23 following an increase in feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,370-1,420 ($1,632-1,692) per tonne on June 23, up from ?,?1,320-1,340 per tonne on June 16.The price of hot-rolled coil, the feedstock for hollow sections...Read More
Bangladeshi mills have returned to the United States' deep-sea scrap export market to secure two West Coast cargoes at higher prices.A West Coast exporter sold a 35,000-tonne cargo comprising 7,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap priced at $535 per tonne cfr, 18,000 tonnes of shredded scrap at $545 per tonne cfr and 10,000 tonnes of bonus-grade material at $555 per tonne...Read More
US imports of standard steel welded wire mesh from Mexico are being or are likely to be sold at less than fair value, the Commerce Department said in a final determination on Wednesday June 23.The weighted-average dumping margin has been set at 110.42% for Deacero SAPI de CV and 23.04% for Aceromex SA de CV and all other exporters. Commerce had estimated those margins at 23.67-152.68% in its preli...Read More
Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.The project will look to enable climate-neutral steel production and to build hydrogen-powered heavy vehicles. It is building Sweden's largest fossil-fuel-free hydrogen facility, it sai...Read More
Hot-rolled coil prices in China's domestic market cruised higher on Wednesday June 23, with coking coal supply concerns actin as support and helping to stem the decline in steel futures prices.DomesticEastern China (Shanghai): 5,280-5,380 yuan ($814-830) per tonne, up by 10-70 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange climbed more than 1% to an intraday high of...Read More
Domestic transaction prices for hot-rolled coil in Northern Europe went up on Wednesday June 23, driven by the continuing shortage of material, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,185.04 ($1,411.73) per tonne on Wednesday, up by ?,?30.04 from ?,?1,155.00 per tonne on June 22.The index was up by ?,?50.04...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
Australia-listed IGO Ltd is one step closer to forming a joint venture with Chinese lithium producer Tianqi Lithium after key regulatory requirements for the internal restructuring of the Australasian arm of the latter to proceed have been satisfied, IGO said on Tuesday June 22. In December 2020, both companies signed an initial investment agreement which saw Tianqi's wholly-owned subsidiary Tianq...Read More
Rebounds were under way in the base metals in London and Shanghai this morning, Wednesday June 23, but we will have to wait to see how the metalsreact to today's manufacturing purchasing managers index (PMI) data.To reassure the markets, United States Federal Reserve chairman Jerome Powell said: "We will not raise interest rates pre-emptively because we think employment is too high [or] because we...Read More
Glencore will restart operations at its Mutanda copper-cobalt facility toward the end of 2021, and plans to return the asset to normal production in 2022, the global miner said on Tuesday June 22.Glencore placed the facility, which is in the Democratic Republic of Congo (DRC), on care and maintenance in late 2019 following a slump in cobalt prices.Mutanda can produce around 25,000 tonnes per year....Read More
Miners China Moly and IX Metal have joined Glencore and Huayou's Fair Cobalt Alliance (FCA), a body whose aim is to professionalize the artisanal mining sector in the global heartland of cobalt production - the Democratic Republic of Congo (DRC)."[Because we are] a large industrial miner that maintains strict product control and custody procedures, artisanal and small-scale mining [ASM] sits outsi...Read More
The Turkish steel mills have been staying away from deep-sea scrap purchases because of weak rebar sales and a sufficiency of scrap stocks, market participants told Fastmarkets on Tuesday June 22.The most recent deals were heard on June 15, when two United States-origin cargoes were sold.A mill in the Marmara region bought those cargoes, which comprised HMS 1&2 (80:20) at $500 and $501 per tonne,...Read More
Mexico's ferrous scrap prices increased further in the week to Friday June 18, with buyers continuing to compete for material, especially the higher grades.Fastmarkets assessed the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey at 11,600 pesos ($578) per tonne on June 22, up by 400 pesos from 11,200 pesos a week earlier. This marked the fourth consecutive...Read More
A summary of China's battery raw materials exports for May 2021.In brief Exports of cobalt tetroxide fell in May amid falling downstream demand for batteries used in consumer electronics outside of China as a result of a lack of semi-conductor chips and a resurgence...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday June 22 and their latest price moves.China Spot domestic ferro-chrome prices jumped after leading producers raised their prices late last week. Some stainless steelmakers, with strong demand thanks to the profitable market, accepted the higher offers. Imported charge chrome prices rose strongly amid bu...Read More
Aluminium premiums diverged again on Tuesday June 22, with Rotterdam premiums increasing, while the Japanese premium fell and the US premium was unchanged.Rotterdam premiums boosted by demand, logisticsMJP ticks down, South Korea unchangedUS Midwest premium steady for three weeksStrong demand, high freight rates boost Rotterdam premiumsPremiums in Rotterdam continued to climb, due to strong demand...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
Glencore will restart operations at its Mutanda copper-cobalt facility toward the end of 2021, and plans to return the asset to normal production in 2022, the global miner said on Tuesday June 22.Glencore placed the facility, which is in the Democratic Republic of Congo (DRC), on care and maintenance in late 2019 following a slump in cobalt prices.Mutanda can produce around 25,000 tonnes per year....Read More
All three-month prices for base metals on the London Metal Exchange rose by about 1% for the second day in a row on Tuesday June 22, continuing their recovery from the weakness of the previous seven days.Nickel's three-month price rose by the greatest margin on Tuesday, by 1.6% to $17,750 per tonne, following Monday's 1.7% increase to $17,450 per tonne.The metal suffered a 7.2% decline last week t...Read More