Prices for steel billet imported into Egypt fell in the week to Thursday May 27, largely due to a lack of demand, sources told Fastmarkets.Global billet prices have been decreasing recently and there was hardly any demand for imports into Egypt, they added.Fastmarkets' daily steel billet index, export, fob Black Sea, was $659 per tonne on May 27, down from $691 per tonne on May 20.Demand for rebar...Read More
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 reducing carbon emissions.In a Dutch court, Shell was ordered to reduce carbon dioxide emissions by 45% from 2019 levels, and to do so by 2030 - doubling its current pace.Activist shareholders Engine No1 will hold two seats on...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
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
Experts from the battery value chain shared their understanding and insights into lithium price evolution and the new lithium futures contract during a Fastmarkets' webinar on Tuesday May 25.CME Group in the United States launched a cash-settled lithium futures contract on May 3. The contract is settled against Fastmarkets' assessment of the lithium hydroxide monohydrate, 56.5% LiOH.H2O min, batte...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
Lack of support on the customer side led to a further slide in CIS steel billet export prices in the week to Thursday May 27, sources told Fastmarkets.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS dropped to $659 per tonne on Thursday, down by $11 per tonne day on day.Interest in import billet from the part of China, which had been the main outlet for CIS-origin material remain...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
Base metals prices on the Shanghai Futures Exchange were up across the board while those on the London Metal Exchange were mixed during the morning of Friday May 28. This followed surging prices on Thursday.* Falling initial jobless claims in the United States boosted sentiment* An indefinite strike has started at BHP’s Santiago copper-mining operations center* Asia-Pacific equities upbeat as...Read More
Seaborne premium hard coking coal prices climbed up in both the cfr and fob markets on Thursday May 27, with the supply of north American premium hard coking coal to China still limited and more buying activity in the fob market, source told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.76 per tonne, up $12.16 per tonnePremium hard coking coal, cfr Jingtang: $262.29 per t...Read More
London Metal Exchange prices rose on the morning of Thursday May 27, with copper and zinc climbing above their recently set psychological levels following year-to-date highs and nickel continuing its stride forward following a 1.5% rise on Wednesday.The LME three-month copper price was $10,038 per tonne at 9am London time, a 0.6% rise from Wednesday's close of $9,979 per tonne. The copper price ha...Read More
Turkish prices for steel billet have gone down over the past week in line with the falling prices in China, while scrap import values supported the decrease, market sources said on Thursday May 27.Steel billet prices in China have made a downward correction in the past week, which consequently brought a decline in Turkish scrap import prices, because Turkey's billet and finished steel prices had b...Read More
Lack of support on the customer side led to a further slide in CIS steel billet export prices in the week to Thursday May 27, sources told Fastmarkets.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS dropped to $659 per tonne on Thursday, down by $11 per tonne day on day.Interest in import billet from the part of China, which had been the main outlet for CIS-origin material remain...Read More
China's relentless "suggestions" to industry that it wants to see stable commodity prices appear to have suppressed speculative behavior and are beginning to cool bullish market conditions, sources told Fastmarkets on Thursday May 27.Rising commodity prices were highlighted for the third time in 14 days, on Wednesday May 26, during the the weekly executive meeting of China's State Council, le...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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...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
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
The European Commission (EC) has officially terminated its anti-subsidy case into hot-rolled coil from Turkey without imposing any duties, Fastmarkets understands.This decision was published in the Official Journal of the European Union on Thursday May 27.In April 2021,...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
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...Read More