The global mineral industry will have to rapidly scale up production to meet surging demand from the new energy sector, the International Energy Agency (IEA) has warned.To reach the target of net-zero emissions by 2050, the energy sector will be consuming minerals at six times the current rate by 2040, the IEA forecast in a special report on Wednesday May 5. "Today, the data shows a looming mismat...Read More
The uptrend in the export market for flat-rolled steel products from the Commonwealth of Independent States continued in new sales during the week to Tuesday May 11 amid strong demand globally, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $1,020-1,055 per tonne on May 11, up from $1,000-1,020 per tonne a week before.A sale of Ukraine-...Read More
Flat steel prices in Russia's Central Federal District around Moscow moved up on new bullish offers for June material, supported by growing exports and strong local buying activity, sources told Fastmarkets onTuesday May 11.Hot-rolled sheetHot-rolled sheet was on offer from Severstal to traders for June delivery at 104,000 roubles ($1,405) per tonne, sources said, compared with 92,000 roubles per...Read More
Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on May 10.Consuming...Read More
Rebar and wire rod export prices from the Commonwealth of Independent States increased significantly over the past week, supported by favorable market conditions due to strong domestic demand in Russia, higher prices from competitors - particularly Turkey - and increased global scrap costs.RebarUkraine-origin rebar was available to foreign customers at $690 per tonne fob Black Sea at the end of la...Read More
Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on May 10.Consuming...Read More
European manganese flake prices climbed above $3,000 per tonne in the week ended Friday May 7 amid tightening prompt inventories and continuing shipping delays.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 5.3% to $2,900-3,100 per tonne on Friday, up from the mid-week assessment of $2,800-2,900 per tonne. The market was now trading at it...Read More
Mexican ferrous scrap prices were largely stable in the week ended Friday May 7, with some sellers heard applying price increases due to strong demand and limited availability of certain grades.Shredded scrap in both Monterrey and Bajio and plate and structural scrap in Bajio were the only prices to increase in Fastmarkets' weekly assessment. While there were reports of price i...Read More
Turkish steel producers continued to pay higher prices for deep-sea scrap after securing more billet sales into China, market participants told Fastmarkets on Tuesday May 11.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $495 per tonne and plate and structural (P&S) at $505 per tonne cfr. The cargo breakdown was not clear at the time of publication.The...Read More
Aluminium premiums across the globe were mostly unchanged in the week ending Tuesday May 11 on tight availability.Rotterdam duty-paid premium dips on LME spread volatilityUS Midwest remains at record highMJP premium static.Duty-unpaid premium well supportedFastmarkets' benchmark duty-unpaid Rotterdam aluminium premium remained at its highest since April 2018 in the week to Tuesday May 11.The daily...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 11 that are worth another look....Read More
A summary of base metal premiums from across the globe for the week to Tuesday May 11.Please click...Read More
Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on May 10.Consuming...Read More
The global mineral industry will have to rapidly scale up production to meet surging demand from the new energy sector, the International Energy Agency (IEA) has warned.To reach the target of net-zero emissions by 2050, the energy sector will be consuming minerals at six times the current rate by 2040, the IEA forecast in a special report on Wednesday May 5. "Today, the data shows a looming mismat...Read More
A summary of base metal premiums from across the globe for the week to Tuesday May 11.Please click...Read More
Key data from the pricing sessions in Asia, Europe and the United States over the week to Tuesday May 11.China The UG2 market ticked up amid bullishness downstream. Buyer interest returned while producers faced elevated production costs after the South African rand appreciated against the US dollar. Spot domestic ferro-chrome prices fell amid muted demand, while some s...Read More
The latest diplomatic tit for tat between China and Australia is adding fuel to cif China bauxite prices already trending upward as a result of higher freight rates since the start of 2021.China announced an indefinite halt to its economic activities with Australia last Thursday May 6, citing some Australian officials' "disruptive measures."Sources told Fastmarkets in the week to Monday May 10 tha...Read More
Prices for steel scrap imported into China increased further on Tuesday May 11 after the highest bid price at the bellwether Japan Kanto Tetsugen increased by ?5,899 yen ($54.21) per tonne month on month.The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export auction on Tuesday with the highest bid price at ?49,279 ($453) per tonn...Read More
Base metals prices on the London Metal Exchange were consolidating this morning on Tuesday May 11, after having pulled back from high ground on Monday while base metals on the Shanghai Futures Exchange were, for the most part, weaker. Broader markets seem to be getting nervous about inflation, with roaring commodity prices not helping. China's consumer and producer prices up significantly. But, US...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were, for the most part, a lot stronger this morning, Monday May 10, but broader markets were mixed.Friday's United States employment report was much weaker than expected, suggesting the Federal Reserve will remain on its current tack That report boosted equities, reducing the likelihood of a broader market correctio...Read More