Domestic prices for hot-dipped galvanized steel coil in Europe were fairly stable in the week to Wednesday June 9, despite slower trading activity, sources have told Fastmarkets.The domestic prices have been supported by good order books at mills in Northern European, with Italian steelmakers offering material from fourth-quarter rolling, market sources said. Some steelmakers have also started off...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
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
The United States' hot-rolled coil steel import prices have surged to an all-time high, with buyers worldwide competing for limited material."There's not a lot of steel available, not here or anywhere else," a distributor source said.Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,540-1,610 per short ton ($77.00-80.50 per hundredweight) on Wednesday June 9, up...Read More
Domestic prices for European heavy steel plate moved up over the week to Wednesday June 9, supported by strong demand, sources have told Fastmarkets."Demand is strong and is getting stronger. German mills have healthy order books due to long-term project contracts, and spot buyers have low stocks," an Italian source said."The demand for plate is quite strong, particularly due to the low stocks amo...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 9 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil largely trended downward over the past week due to limited trading activity in the spot market.Two Chinese investors...Read More
Turkish steel mills continued their deep-sea scrap purchases for July shipment at slightly higher prices on Wednesday June 9, having only just resumed buying activity on Tuesday after a near-two-week break, market participants told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $498 and bonus scrap at $508 per tonne cfr.The same mill also bo...Read More
China's Ganfeng Lithium will set up a joint venture to invest in and construct a lithium project with an annual output 50,000 tonnes of lithium salts in Fengcheng city, Jiangxi province, it said on Wednesday June 9.Ganfeng signed an investment contract with the local government in Fengcheng on June 8 to build the lithium project. The investment will provide for building related infrastructure, pla...Read More
An overview of the consumer electronics markets and their latest price moves.Dalila Ouerghi and Cristina Belda...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Ewa Manthey, Charlotte...Read More
LME base metals have looked tired, having lost their upward momentum in the past few days, but underlying support looks plentiful, with all the base metals on the SHFE being in positive territory this morning, Wednesday June 9. US 10-year treasury yields have fallen, not on haven buying, but because the market seems more sanguine that central banks will not rock the boat anytime soon......but will...Read More
Prices in China's domestic and import spot ferro-chrome markets rose during the week to Tuesday June 8 on growing concerns over supply tightness amid strong consumption.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China was 7,500-7,800 yuan ($1,172-1,219) per tonne on Tuesday, up 100 yuan, or 1.3%, from 7,400-7,700 yuan per tonne the previous week.Production loss...Read More
Two Chinese investors into Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) have signed offtake agreements for phase 1 output, operator Ivanhoe Mines said on Wednesday June 9.CITIC Metal (HK) Limited and Zijin Mining's subsidiary Gold Mountains (HK) International Mining Co will each have access to 50% of Kamoa Kakula's copper concentrate and blister copper, Ivanhoe said The offta...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 9 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil largely trended downward over the past week due to limited trading activity in the spot market.Two Chinese investors...Read More
The US nickel market was active in the week to Tuesday June 8, with a consensus that falling supply and healthy spot demand will support the current premium range. US premiums poised for possible increase if miners' strike in Canada endures. Continued arbitrage losses push some Chinese traders away from nickel plate. European London Metal Exchange warehouse stocks fall 400 tonnes, but...Read More
Prices on the London Metal Exchange were mostly unchanged at the close of trading on Wednesday June 9, with futures contracts sticking to a consolidation phase at high levels so far this week.Zinc's three-month price, at $3,019.50 per tonne, was up b only $2.50 per tonne from Tuesday's closing price, but was at its highest value at the 5pm close since June 2, when it closed at $3,082.50 per tonne....Read More
Swedish battery maker Northvolt has announced the signing of a $2.75 billion private placement to expand the capacity of its gigafactory in the country, Northvolt Ett, to 60GWh from 40GWh to meet increased customers' demand, it said on Wednesday June 9.The private placement was jointly led by Swedish pension funds AP1, AP2, AP3 and AP4, and Omers Capital Markets, alongside existing investors Goldm...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 9 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil largely trended downward over the past week due to limited trading activity in the spot market.Two Chinese investors...Read More
The 60-64.9% ferro-chrome market narrowed upward in the week to June 8, on high offer prices for Indian ferro-chrome to Europe.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe, narrowed upward by 5 cents (+2.4%) to $1.05-1.10 per lb Cr on June 8, from $1.00-1.10 per lb Cr one week earlier."There is a scarcity of material and the domest...Read More
Domestic prices for hot-rolled coil were mostly stable across Europe on Wednesday June 9, despite the continuing shortages of material and good demand, sources have told Fastmarkets.Northern European and Italian steelmakers have been offering HRC from fourth-quarter rolling, market sources said. And some producers in Central Europe have been able to provide third-quarter-delivery coil, although pr...Read More