Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Fastmarkets will launch a monthly assessment of the discount for No1 copper material, candy/berry, on a cif China basis on June 28. After a consultation period, Fastmarkets has decided to launch a monthly assessment of the discount for No1 copper material, candy/berry, on a cif China basis. Over the consultation period from May 5 to June 7, buying interest in No1 copper material remained stro...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 16.Please click...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Volkswagen Group is seeking partnerships with battery raw material producers in order to vertically integrate and achieve security of supply and competitive prices for its minerals needs, a spokesperson for the German automaker told Fastmarkets on Thursday June 17.This is in line with the company's strategy to move forward with the electrification of its fleet. Besides gaining security of supply,...Read More
A sharp rise in freight prices is eating into South African manganese producer profits by exacerbating the negative impact of the strengthening rand against the dollar.Freight rates have been high for several months amid increased demand for vessels and competition for freight space from other commodities.Manganese market participants told Fastmarkets that freight rates have risen rapidly over the...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
Turkish steel mills extended their silence in the deep-sea scrap market on Thursday June 17, with market participants reporting no new bookings for the second day in a row and describing the market as "quiet."Two cargoes heard booked earlier in the week, but brought scrap prices down by $10 per tonne. This week, Turkish steel mills have mostly focused on selling rebar in the export market, with Fa...Read More
The steel mills in Bangladesh have picked up a raft of containerized scrap cargoes at higher prices over the past week, preferring boxes over bulk cargoes, market participants told Fastmarkets on Thursday June 17.Demand for bulk material was muted in the country following recent completed trades, rising bulk prices from the United States West Coast and continued congestion at the Bangladeshi port...Read More
Volkswagen Group is seeking partnerships with battery raw material producers in order to vertically integrate and achieve security of supply and competitive prices for its minerals needs, a spokesperson for the German automaker told Fastmarkets on Thursday June 17.This is in line with the company's strategy to move forward with the electrification of its fleet. Besides gaining security of supply,...Read More
Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.* The more hawkish stance from the United States Federal Reserve on Wednesday lifted the dollar but has weighed on sentiment...* ...as has China’s decision to release state reserves of copper, a...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Copper's price fall and a higher US dollar index were the main factors in a decline in London Metal Exchange base metals prices for a fourth day on the morning of Thursday June 17, with most down by at least 1%.The three-month copper contract on the LME was at $9,459.50 per tonne at 9am London time on Thursday, down by 2.1% from its $9,667 per tonne closing price on Wednesday. The contract fell to...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...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 20.20-20.95 on Thursday June 17, 2021.Purchase...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Offers from billet producers in the Commonwealth of Independent States were stable in the second half of the week despite reports of limited demand.Customers in Asia, particularly China, were not willing to pay above $700 per tonne cfr early in the week, which would be equivalent to $640 per tonne fob Black Sea. No deal were concluded at this price because it was considered too low by mills sellin...Read More
Hot-rolled coil prices in the United States have held above $84 per hundredweight ($1,680 per short ton) for five consecutive business days, with mills struggling to meet buoyant demand, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $84.22 per cwt ($1,684.40 per ton) on Thursday June 17, down by 0.75% from $84.86 per cwt on Wednesday June 16...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 30 points in pre-opening trade.Volume on U.S. equity, futures and options exchanges is expected to surge. Today is "quadruple witching day" when June equity and index options and futures expire. Adobe added $10.54 to $561.90 after reporting higher than consensus second quarter revenues and earnings. Target on the stoc...Read More