Spot interest in overseas blister copper remained low this month in China, with importers continuing to show a preference for top-grade copper scrap while the outright price of the metal remained high. Fastmarkets assessed the blister copper 98-99% RC spot, cif China at $220-240 per tonne for May, up from $185-200 per tonne a month earlier and at its highest since April 2018.Trading remained limit...Read More
Ivanhoe Mines - the developer of the Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) - is in talks with that country's government about securing a permit to export concentrate, it said.The talks between Canada-listed Ivanhoe Mines and Kinshasa follow news - broken by Fastmarkets this week - of the DRC introducing a ban on the export of copper...Read More
Customs officials in the Democratic Republic of Congo have backtracked on a decree made just 24 hours earlier and re-approved the export of copper concentrate and cobalt from the country.In an official letter to extractive companies in Katanga province, the center of cobalt mining in the country if not the world, Bernard Bosele Pilipilithe, provincial director of Customs and Excise for the provinc...Read More
Base metals, with the exception of lead, registered declining inventories in Shanghai Futures Exchange-registered warehouses in the week to Friday May 28, with tin the biggest faller - down 13%.in stocks totalled 5,241 tonnes on Friday, down by 783 tonnes from 6,024 tonnes a week ago.The largest outflow was from Nanchu warehouse in Guangdong province, where volumes were down by...Read More
Tin was the standout performer on the morning of Friday May 28, reaching a new year-to-date peak of $30,800 per tonne, while other LME futures prices had a more up-and-down start, with some having ended the Thursday session with increases of more than 3%. After reaching $30,800 per tonne during early trading - its highest level since April 2011 - tin was down slightly to $30,605 per tonne at 9am,...Read More
Canadian steelmaker Stelco has agreed with a German battery recycling specialist, Primobius, to work toward creating a lithium-ion battery recycling venture, initially hoped to recycle 20,000 tonnes per year of batteries.The pair "would actively plan for an expanded capacity operation," under a memorandum of understanding (MoU) announced on Thursday May 27 by Primobius's Australian co-owner, Neome...Read More
Steel billet suppliers in the Commonwealth of Independent States expect China to resume booking material, albeit at a lower rate than earlier in May, Fastmarkets learned on Friday May 28."It's hard to say, but I think they will resume bookings because no-one cancelled the plan to reduce steel output by the end of the year," one trader said.In northern China's Tangshan city, the country's steelmaki...Read More
Activity in the European hot-rolled coil market has been slow this week while buyers have preferred to hold back from new deals and proved reluctant to accept any further price increases.Buyers - already struggling to open credit lines due to the high prices of flat steel - chose to pause their purchases while monitoring China's coil market.Prices for coil in China have been decreasing over the pa...Read More
Global steel scrap prices dropped in the week to Friday May 28 on poor sentiment resulting from a weaker Chinese market and a softening of the Turkish market.Turkey reports latest trades at lower pricesUS East Coast sees trades to TurkeyVietnamese market affected by weaker Chinese sentimentChinese prices remain down despite improving futuresTaiwan prices lower on soft buying interestIndian buyers...Read More
The markets for the lithium complex in Asia were mostly steady over the week ended Thursday May 27, except for the domestic Chinese market for lithium carbonate, which was under pressure due to rising supply and weaker demand.Lithium carbonate prices in China soften on increasing supply and weakening demandSeaborne Asian lithium complex steady amid persistent tight supplyEurope, US spot lithium co...Read More
Canadian steelmaker Stelco has agreed with a German battery recycling specialist, Primobius, to work toward creating a lithium-ion battery recycling venture, initially hoped to recycle 20,000 tonnes per year of batteries.The pair "would actively plan for an expanded capacity operation," under a memorandum of understanding (MoU) announced on Thursday May 27 by Primobius's Australian co-owner, Neome...Read More
Prices for flat-rolled steel imports into South America mostly decreased in the week to Friday May 28 due to a significant absence of Chinese material in the market, with negotiations starting to shift to August shipment, overall lower offers, and a cautious stance among customers.This was the first time since February 5 this year that the majority of import prices on the continent fell on a weekl...Read More
Flat steel buyers and sellers in Turkey are questioning what will happen in global markets in the coming week, after the country's imported flat steel prices decreased in the week to Friday May 28 but local producers were firm on prices.Price changes in China were behind the uncertainty.Hot-rolled coil prices from China started decreasing on May 12 due to the government's call for stable comm...Read More
Hot-rolled coil prices in China's domestic market rose again on Friday May 28, following a rally in the futures market.DomesticEastern China (Shanghai): 5,400-5,500 yuan ($848-864) per tonne, up by 150-180 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,350-5,380 yuan per tonne, down by 250-270 yuan per tonne.The most-traded HRC October contract on the Shanghai Futures Exchange reac...Read More
Indian domestic secondary billet prices edged up in the week to Friday May 28, even as finished steel prices began to fall.Fastmarkets' price assessment for steel billet domestic, ex-works India was 41,400-41,600 rupees ($565-572) per tonne on Friday, up 300 rupees from last week's 41,100-41,300 rupees per tonne ex-works. "Billet prices have only increased because...Read More
Steel wire rod prices in Poland were largely flat over the past seven days after a massive increase in the previous week, but market sources believed that new price rises were likely because of the shortness of supply, Fastmarkets heard on Friday May 28.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,650-3,700 zloty ($990-1,004) per tonn...Read More
Domestic prices for rebar in Poland were largely unchanged but still high in the week to Friday May 28, supported by strong demand, limited supply and increased scrap costs, although some sources told Fastmarkets that they believed prices had reached a ceiling.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 3,650-3,700 zloty ($990-1,004) per tonne...Read More
Global steel scrap prices dropped in the week to Friday May 28 on poor sentiment resulting from a weaker Chinese market and a softening of the Turkish market.Turkey reports latest trades at lower pricesUS East Coast sees trades to TurkeyVietnamese market affected by weaker Chinese sentimentChinese prices remain down despite improving futuresTaiwan prices lower on soft buying interestIndian buyers...Read More
Brazilian steel slab export prices fell slightly week on week on Friday May 28 amid a pause in negotiations for shipments to the United States and lower indications for other regions.Fastmarkets assessed the price for steel slab export, fob main port Brazil at $970-990 per tonne on Friday, widening downward from $980-990 per tonne on May 21.With July-shipment deals to the US done in the previous w...Read More
Global steel scrap prices dropped in the week to Friday May 28 on poor sentiment resulting from a weaker Chinese market and a softening of the Turkish market.Turkey reports latest trades at lower pricesUS East Coast sees trades to TurkeyVietnamese market affected by weaker Chinese sentimentChinese prices remain down despite improving futuresTaiwan prices lower on soft buying interestIndian buyers...Read More