Chinese automotive production and sales figures both fell on a monthly and annual basis, although figures for new energy vehicles still increased, according to the data from the China Association of Automobile Manufacturers (CAAM).Carmakers produced 2.04 million units in May, down by 8.70% month on month and 6.80% year on year, while sales came to 2.13 million units, down by 5.50% from April 2021,...Read More
The Italian steel distributors association, Assofermet, is calling for the complete removal of safeguard measures in Europe to protect steel users and consumers from the effects of the record high prices currently seen in the market. The association demanded the removal of the import controls on 26 steel products after the European Commission proposed extending the current measures for another thr...Read More
Austrian steelmaking group Voestalpine has developed an industrial scale process for carbon-neutral steel production without the use of fossil carbon and secured the intellectual property rights to the process from the European Patent Office, the company said on June 15.The patent is valid in all major European steel manufacturing countries and specifically covers the production of sponge iron - d...Read More
Here are five Fastmarkets stories on Tuesday June 15 that are worth another look.With responsibilities across Tata Steel's diverse international portfolio of steelmaking assets, chief executive officer and managing director T V Narendran has a wide-ranging view of, and experience in, the global steel industry. He told Kunal...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiumsTin premiums in the...Read More
Nickel premiums in the United States rose again in the seven days to Tuesday June 15 on the back of continued strikes at Vale's Sudbury mine, while premiums in Asia and Europe remained stable in a week of low liquidity.US briquette premium rises 16.7%, surpassing 20 cents per lb for the first time since 2019 Arbitrage losses continue in China, although spot market quiet due to national holidayEuro...Read More
European buyers of hot-rolled coil have been holding back from making deals for material, awaiting the European's Commission decision on import safeguard measures and clarity in the global market, sources told Fastmarkets on Wednesday June 16.Some buyers were still willing to accept current offer prices if they needed to restock specific materials, or if they were able to secure back-to-back deals...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More
The gap between lithium spot and contract prices has narrowed significantly in 2021 as a result of tight availability along the lithium supply chain and price evolution, market sources said.For example, Fastmarkets' monthly assessment of the lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, contract price cif China, Japan & Korea was $12.50-13.50 per kg on May 26, an increase of $1...Read More
Price movements on the London Metal Exchange futures complex were mixed at the close of trading on Wednesday June 16, but were within the range of its Tuesday prices ahead of the US Federal Reserve's statement later in the day.Copper's three-month price, which fell by 4% on Tuesday to $9,569.50 per tonne, strengthened by 1% on Wednesday at 5pm to $9,667 per tonne. Its intraday low of $9,489 per to...Read More
Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More
China's domestic rebar prices continued to fall on Wednesday June 16 due to sellers looking to destock.DomesticEastern China (Shanghai): 4,980-5,010 yuan ($778-783) per tonne, down by 70 yuan per tonne.Fear of further drops in end-user demand and the decline in futures prices have strengthened sellers' desire to run down...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More