All base metals prices on the London Metal Exchange, except for copper, finished slightly higher on Thursday June 24, with the recovery continuing after last week's decline while the US Dollar Index consolidated on low ground to lend support to the complex.Nickel led the way on the LME, rising by 1.9% at the close of trading on Thursday to $18,407 per tonne, up from its Wednesday closing price of...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
European manganese flake prices continued to surge in the week ended Wednesday June 23, boosting the premium for prompt material amid very tight stock availability in Rotterdam, Fastmarkets has heard.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 3% to $3,600-3,710 per tonne on June 23, up from $3,500-3,600 per tonne in the previous sessi...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 24 that are worth another look.The Brazilian capital goods association, Abimaq, will meet with China-based Baosteel and local trading house Comexport to pave the way for its members to import more steel amid rising prices and tight supply in the domestic market, the association said...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
The South African government announced the establishment of the Transnet National Ports Authority (TNPA) on June 22.This reform, which enacts measures legislated for in the National Ports Act of 2005, will create the TNPA as an independent subsidy of Transnet, the national logistics organization of South Africa."The creation of a separate subsidiary will allow the ports...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Nike advanced $4.40 to $138.00 after reporting higher than consensus fiscal fourth quarter revenues and earnings. FedEx dropped $12.19 to $291.57 after reporting less than consensus fourth quarter results. KBE Bank ETF added $0.40 to $64.80 after 23 major U.S. banks easily passed their Fed...Read More
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.United States President Joe Biden has agreed a $1 trillion infrastructure deal, which should be good for metals because it focuses on upgrading roads, bridges and broadband network...Read More
Prices in the European titanium alloy and scrap market could fall in the near term amid signs of weaker scrap costs and little renewed consumer demand for third quarter deliveries, according to trade sources.While most industry ferro-titanium suppliers reported fairly stable prices this week, they also said trading activity has been quiet, much like the rest of the current quarter. Steelmakers tol...Read More
All base metals prices on the London Metal Exchange, except for copper, finished slightly higher on Thursday June 24, with the recovery continuing after last week's decline while the US Dollar Index consolidated on low ground to lend support to the complex.Nickel led the way on the LME, rising by 1.9% at the close of trading on Thursday to $18,407 per tonne, up from its Wednesday closing price of...Read More
Much greater investment is needed to expand supply chains to secure critical minerals and expand manufacturing in key materials needed for the energy transition, according to the Acting Undersecretary for Science and Energy at the United States Department of Energy.These investments must ensure sustainable production, refining, and recycling capacity domestically, while ensuring strong environment...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
A summary of China's ores and alloys imports for May 2021.In brief May imports of ferro-chrome declined because buyers were less concerned about domestic supply after Inner Mongolia loosened its energy controls on high consuming companies in the second quarter. Manganese ore imports rose month on month with increased arrivals from...Read More
A summary of China's ores and alloys exports for May 2021.In brief China's silico-manganese export market was active due to a combination of strong demand and tight supply in the global silico-manganese market. APT exports in May dropped amid a slow overseas market. Overseas buyers were cautious in buying the material once the price reached $270 per...Read More
A three-week price rally for the ferro-chrome market in China sped up in the week to Tuesday June 22 on bullish market sentiment after leading producers in China initiated higher prices amid production uncertainty."Production has been greatly impacted amid the uncertainty brought by Inner Mongolia's energy controls and electricity supply shortage. This, together with sharply increased production c...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
Base metals prices on the London Metal Exchange continued to trade higher across the board during the day on Wednesday June 23. Prices across the complex followed their recent upward momentum during Wednesday's trading as a result of pacified market sentiment following the testimony given by Federal Reserve chairman Jerome Powell to Congress on Tuesday. "In his testimony, Powell's tone was relativ...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 23.Please click...Read More