China's leading stainless steel producers, Taiyuan Iron & Steel (Tisco) and Baosteel Group, have lowered their ferro-chrome tender prices for June delivery by 50 yuan ($7.84) per tonne compared with the previous month.The latest high-carbon ferro-chrome tender prices released by Tisco and Baosteel on Friday May 28 were 7,250 yuan and 7,445 yuan per tonne respectively, slightly down from the 7,300...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
China's leading stainless steel producers, Taiyuan Iron & Steel (Tisco) and Baosteel Group, have lowered their ferro-chrome tender prices for June delivery by 50 yuan ($7.84) per tonne compared with the previous month.The latest high-carbon ferro-chrome tender prices released by Tisco and Baosteel on Friday May 28 were 7,250 yuan and 7,445 yuan per tonne respectively, slightly down from the 7,300...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
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
Turkey's hot-dipped and pre-painted (color-coated) galvanized coil market was mostly stable in the week to Friday May 28 because of uncertainty about flat steel prices globally, sources told Fastmarkets.While demand was strong to moderate in the domestic and export markets, prices were barely changed.Market uncertainty stemmed from a fall in Chinese prices - hot-rolled coil prices from China start...Read More
Rio Tinto is partnering with Swedish research and development firm Comptech AB to bring a new generation of aluminium alloys to the market for use in advanced technologies, such as electric vehicles (EV) and 5G antennas, the UK-listed mining company said.The company said the products are currently undergoing qualification with automakers in Europe, who are stepping up efforts to increase their sha...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 27 that are worth another look.Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into...Read More
Canada will seek to work with its allies and partners to develop supply chains that will help them to meet global climate goals, according to the associate deputy minister at the Department of Natural Resources Canada (NRCan).Shawn Tupper said that this will include building mineral value chains and downstream processing, products and technologies, and leveraging mining practices, to position Cana...Read More
Copper's 2.4% price rise at the close of trading on Thursday May 27, supported by the start of a strike at BHP's operations center in Chile, led the rest of the London Metals Exchange base-metals complex higher, making it the first day of strong rises following a week of lower prices.The three-month price of copper was $10,221 per tonne on Thursday at the close, up from Wednesday's $9,979 per tonn...Read More
Trade union members employed at BHP's operations center in Santiago de Chile were set to begin an indefinite strike on Thursday May 27, Fastmarkets has heard.Around 200 employees represented by the union were to stop working at BHP's Center of Integrated Operations, which manages the concentrates and cathode machinery at the company's Escondida and Spence copper mines.The strike was called after u...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 27 that are worth another look.Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into...Read More
Turkish steel producers again stepped away from the deep-sea scrap market after a downturn in steel billet and finished steel prices, triggered by falling prices in China, market participants told Fastmarkets on Thursday May 27.Mills had only just returned to the market on Wednesday, when a Turkish steelmaker booked f 44,000 tonnes of HMS 1&2 (95:5) from the United States at $515 per tonne cfr.Tha...Read More
Four key takeaways from the 6th China International LiCoNi Summit in Changsha, China, on May 20-21, 2021.1. Weak nickel market sentiment now but long-term positive Sentiment remained weak among domestic market participants at the conference because they think both the mild hawkish stance evident in the Federal Open Market Committee (FOMC) minutes and the statement from China's State Council that...Read More
Rio Tinto is partnering with Swedish research and development firm Comptech AB to bring a new generation of aluminium alloys to the market for use in advanced technologies, such as electric vehicles (EV) and 5G antennas, the UK-listed mining company said.The company said the products are currently undergoing qualification with automakers in Europe, who are stepping up efforts to increase their sha...Read More
Import prices for steel scrap in China weakened further on Thursday May 27 amid a continued lack of buying interest, sources told Fastmarkets.The continued price drop came despite the most-traded rebar and hot-rolled coil futures contracts on the Shanghai Futures Exchange inching up on May 27 after more than a week of consecutive losses.Fastmarkets' daily price assessment for steel scrap...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed during the morning of Thursday May 27, as were broader markets - are these pauses, or early signs of a stall?More US Federal Open Market Committee (FOMC) members seem to be getting off the fence about talking about tapering Chinese yuan continues to strengthen, is China using the yuan to reduce inflationary pr...Read More
Four key takeaways from the 6th China International LiCoNi Summit in Changsha, China, on May 20-21, 2021.1. Weak nickel market sentiment now but long-term positive Sentiment remained weak among domestic market participants at the conference because they think both the mild hawkish stance evident in the Federal Open Market Committee (FOMC) minutes and the statement from China's State Council that...Read More
Copper's price is trading at all-time highs - and now the countries where it is mined the most want a piece of the action.The London Metal Exchange's three-month copper contract recently hit an all-time high of $10,747 per tonne - industrial commodities have broadly rallied on the expectation that government investments in green energy schemes and infrastructure projects after the Covid-19 pandemi...Read More