The domestic market for flat steel in Russia's Central Federal District around Moscow was largely stable in the week to Monday June 21, with most sources expecting either a rollover or even a downward correction in the short term, Fastmarkets heard.Buying activity in the region slowed, partially affected by a weaker export market and unclear sentiment.A new spike in the numbers of Covid-19 cases i...Read More
Lundin Mining has cut its expectation for copper produced at its Candalaria mine in Chile by 13.8%, and output may be affected for years to come, the company said on June 21.Candalaria's copper output will be 150,000-155,000 tonnes in 2021, down from a previous forecast of 172,000-182,000 tonnes, the company said. At 85,000-90,000 ounces, gold production will be down by 10.3%.Taking the high-end o...Read More
Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 18, despite a trading slowdown that resulted from both buyers and sellers holding back from deals.Only a few mills were active in the market and they only had limited volumes on offer, so buyers who needed to re-stock specific material had to accept the higher prices available, sources said.Buyers, in the meantime,...Read More
Aluminium scrap prices in Europe and the United Kingdom remain at multi-year highs due to the availability of scrap material continuing to be squeezed across the continent, sources told Fastmarkets.The market is now experiencing the long-term impact of Covid-related global manufacturing shutdowns and production suspensions due to the semiconductor chip shortage, according to sources.Market partici...Read More
Iron ore prices fell across the board on Monday June 21 because limited demand for steel weakened sentiment for the steelmaking raw material, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $208.15 per tonne, down $10.75 per tonne 62% Fe low-alumina fines, cfr Qingdao: $210.00 per tonne, down $10.24 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $175.53 per tonne, do...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow remained firm in the week to June 21 with good demand from construction, sources told Fastmarkets.July rebar offers to traders from local mills ranged from 69,500-71,000 roubles ($954-975) per tonne cpt in the week to June 21, largely unchanged from June offers, sources said.Tula Steel...Read More
Prices for low- and high-grade manganese ore in the seaborne markets still had support in the week to Friday June 18, against rising freight rates and steady portside markets.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, edged up by 1 cent per dry metric tonne unit to $4.72 per dmtu on Friday, from $4.71 per dmtu a week earlier.Despite cif China manganese ore prices also being slightly hi...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
Buyers are accepting higher prices for hot-rolled coil from European mills, but the number of offers and traded volumes remain limited, sources told Fastmarkets on Monday June 21.German and other Northern European producers were reportedly holding back from making new offers because their order books are good and they prefer to take their time before providing new prices to buyers. The region's st...Read More
Fastmarkets has corrected its PCI low-vol cfr Jingtang index, which was published incorrectly on Friday June 18 due to an error.Fastmarkets' weekly index of PCI low-vol cfr Jingtang (MB-COA-0007) on June 18 was published as $171.47 per dry metric tonne. The price should have been $171.34 per dry metric tonne.Fastmarkets' pricing database, MInD, has been updated to reflect this change.To provi...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
Seaborne coking coal prices increased in the cfr market on Monday July 21 after more coal mines in China shut until July 1 or July 15, while the fob market stayed largely stable, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $177.28 per tonne, down $0.56 per tonnePremium hard coking coal, cfr Jingtang: $288.66 per tonne, up $3.62 per tonneHard coking coal, fob DBC...Read More
China's domestic rebar prices fell sharply on Monday June 21 amid weaker demand and declining iron ore futures.DomesticEastern China (Shanghai): 4,880-4,920 yuan ($754-761) per tonne, down 80-90 yuan per tonne Some construction projects in several major Chinese cities, including Beijing and Shanghai, have stopped work ahead of July 1 celebrations marking the 100th anniversary of the founding of th...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
The refined zinc and lead markets were in relative balance over January to April, with both metals notching small surpluses, the International Lead and Zinc Study Group (ILZSG) said on June 21.Supply exceeded demand for refined zinc by 31,000 tonnes in the first four months of 2021, while lead's surplus...Read More
Buyers are accepting higher prices for hot-rolled coil from European mills, but the number of offers and traded volumes remain limited, sources told Fastmarkets on Monday June 21.German and other Northern European producers were reportedly holding back from making new offers because their order books are good and they prefer to take their time before providing new prices to buyers. The region's st...Read More
Preference for Indian rebar has been growing steadily in the key Singapore import market due to the lower offers for such materials, sources told Fastmarkets during the week to Monday June 21. Market participants reported Indian material being offered as low as $750 per tonne cfr Singapore on a theoretical weight basis by traders, which is very close to buyers' preferred purchasing price, a trader...Read More
Special bar quality (SBQ) steel prices increased in the United States in June on higher mill base prices and increased surcharges while some mills continued to sell forward production for a number of SBQ products to the end of the year, according to market participants.Fastmarkets' assessment for steel bar hot-rolled special bar quality 1-inch round 1000 series (carbon), fob mill US was at $61.50...Read More
Turkish steel producers started the week with no new bookings on Monday June 21 amid limited finished steel demand, especially in the export markets, sources told Fastmarkets.The most recent deals were heard on Tuesday June 15 when two United States cargoes were sold.A mill in the Marmara region bought those cargoes, which comprised heavy melting scrap 1&2 (80:20) at $500 and $501 per tonne, plus...Read More