Third-quarter 2021 supplies of aluminium to main Japanese ports (MJPs) are on offer at a premium of $180-190 per tonne over the London Metal Exchange cash price, market participants told Fastmarkets on Monday May 17.The producer offer is 24.6% higher than the cif MJP premium for the second quarter, which settled at $148-149 per tonne.Third-quarter negotiations in 2020 were settled at $75-79 p...Read More
The first phase of Shandong Nanshan Aluminium's alumina project in Indonesia recently started trial production, sources told Fastmarkets on Monday May 17.The development of the alumina refinery is separated into two phases and will eventually have a total production capacity of 2 million tonnes per year, with 1 million tpy coming online in phase one and the rest in the project's second phase, whic...Read More
Glencore has well-established recycling activities and is extending its role as a key part of the circular economy, Glencore Recycling's global commercial lead, Kunal Sinha said.When Glencore set out its plans in December last year to be a net-zero emissions company by 2050, recycling was one of its seven core pathways. It is an area the company has been active in for decades, but a number of fact...Read More
Hot-rolled coil prices in the United States moved back above $77 per hundredweight ($1,540 per short ton) to a new all-time high, with mills' order books reportedly remaining quite strong for the foreseeable future. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $77.44 per cwt ($1,548.80 per ton) on Monday May 17, up by 1.08% from $76.61 per cwt on Friday May 14 and...Read More
Rebar and wire rod export prices from the Commonwealth of Independent States surged in the week to Monday May 17, supported by rising raw material costs, higher export prices in China, and increasing domestic prices in Russia.RebarFastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $810-830 per tonne on Monday, up $110-130 from $680-720 per tonne...Read More
Rebar producers in Egypt have increased their prices by another E ?400 ($25.50) per tonne with effect from Monday May 17, sources told Fastmarkets. Rebar producers in Egypt are now offering the product at E ?14,300,14,600 per tonne ex-works including 14% VAT, compared with E ?13,900-14,200 per tonne ex-works announced on May 7. The latest increase follows an earlier E ?400 per tonne increase...Read More
Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.The price increase was due to high raw material costs and similarly higher prices for imported steel.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was at 6,910-7115 Reais ($1,311-1,350) per tonne on Fri...Read More
Domestic prices for hot-rolled coil in Europe were largely unchanged on Monday May 17, supported by material shortages and strong demand, sources told Fastmarkets.Market sources said the number of transactions over the past week had been minimal, however, because mills have only limited volumes of coil with long lead times and the buyers have been cautious about doing deals - concerned that if the...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued climbing in the week to Monday May 17, supported by favorable conditions in the finished flat steel market both domestically and abroad.Hot-rolled sheet offers in Russia's domestic market reached 104,000 roubles ($1,404) per tonne cpt, including VAT, in the week to Monday, up from 99,000-104,000 roubles a week ea...Read More
Turkish steel mills made no deep-sea scrap bookings on Monday May 17, the first working day of the week after the Eid al-Fitr holiday, market participants told Fastmarkets.The post-Ramadan religious holiday began on the afternoon of May 12.The country was also under full lockdown between April 29 and May 16 amid a third wave of Covid-19 cases."People are returning from the holiday and lockdown per...Read More
Turkish domestic scrap prices increased further in the past week due to rising imported scrap values, market participants said on Monday May 17.Following the most recent deep-sea scrap transactions, prices for the material have already exceeded $500 per tonne cfr, sources said.Late on Wednesday May 12, a steel mill in the Iskenderun region booked a Baltic sea cargo comprising 18,000 tonnes of HMS...Read More
Seaborne iron ore prices jumped on Monday May 17 due to increased liquidity in the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $217.77 per tonne, up $8.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.80 per tonne, up $9.61 per tonne58% Fe fines high-grade premium, cfr Qingdao: $186.65 per tonne, up $7.36 per tonne65% Fe Brazil-origin fines, cfr...Read More
Seaborne coking coal prices maintained their upward trend in the cfr market amid low supply and necessary procurement activities, while the fob market was largely stable because most market participants had adopted a wait-and-see attitude on Monday May 17, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $120.84 per tonne, down $0.39 per tonnePremium hard coking coal...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 Cobalt alloy grade, in-whs...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,...Read More
GEM chairman Kaihua Xu has worked on building a path for recycling in China since the mid-1990s - he recalls the key steps and discusses the growth and outlook for one of China's leading recycling businesses.Founded in December 2001, GEM Co., Ltd has become one of the leading battery recyclers and battery materials producers in China. The company contributes to 10% of recycling of electronics wast...Read More
Key data from Fastmarkets' pricing session in China on Friday May 14.Key drivers Sentiment in Chinese silicon market turns bullish amid rising prices for upstream raw materials and downstream ADC 12 aluminium...Read More
Prices for imported rebar in Singapore surged during the week to Monday May 17 due to bullish sentiment caused by the soaring prices in China, market sources said.Offers increased to $800 per tonne cfr Singapore on a theoretical weight basis for back-to-back cargoes from Turkey, and $790 per tonne cfr Singapore for position cargoes from India, notably from a major blast furnace-based Indian steel...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said. Rising procurement costs of raw materials have made the lives of small and medium enterprises tough, while higher prices of end products could lead to waning consumption, Ma Wensheng, vice chairman of China Futures Association sai...Read More