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
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
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
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
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
Prices for steel hollow sections in Europe were unchanged on Wednesday June 9 following recent stability of feedstock costs and uncertainty over the upcoming European Commission safeguard decision, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,607-1,631) per tonne on June 9, unchanged week on week...Read More
European steel H-beam prices reached new highs on Wednesday June 9, with mills continuing to push through successful increases, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?970-1,000 ($1,181-1,218) per tonne on Wednesday, up from ?,?940-970 per tonne one week earlier.Some mills remained out of the market, with full...Read More
Steel wire rod prices in the north of Europe were broadly stable at high levels during the week to Wednesday June 9, with more rises expected due to supply tightness, sources said.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was unchanged week on week at ?,?830-850 ($1,011-1,035) per tonne on Wednesday.Several bookings were reported in...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
Fastmarkets' index of the 63% Fe Australia-origin lump ore premium, cfr Qingdao, hit a record-high on Wednesday June 9 amid strong activity on a trading platform.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $212.67 per tonne, up by $3.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $214.71 per tonne, up $2.90 per tonne58% Fe fines high-grade premium, cfr Qingdao: $187.88 per tonne, up...Read More
The export market for steel billet from the Commonwealth of Independent States softened on Wednesday June 9 in new deals from Ukraine.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was calculated at $644 per tonne on June 9, down by $2 per tonne from $646 per tonne a day before.A few deals for Ukraine-origin billet totaling 15,000 tonnes were done to Italy. Sales...Read More
China's domestic rebar prices picked up on Wednesday June 9 as a result of futures gains leading to stronger demand, market sources said.DomesticEastern China (Shanghai): 4,960-5,000 yuan ($776-782) per tonne, up by 40-50 yuan per tonneRebar futures staged a slight rebound on Tuesday and Wednesday, following a large drop on Monday, which market participants said was a "reasonable price change".The...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
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
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
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
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
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
Fastmarkets' index of the 63% Fe Australia-origin lump ore premium, cfr Qingdao, hit a record-high on Wednesday June 9 amid strong activity on a trading platform.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $212.67 per tonne, up by $3.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $214.71 per tonne, up $2.90 per tonne58% Fe fines high-grade premium, cfr Qingdao: $187.88 per tonne, up...Read More