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
Pilbara Minerals is targeting "mid-stream" lithium salts production to achieve a greener and better supply chain, Dale Henderson, the Australia-listed lithium miner's chief operating officer, said during an investor meeting on Tuesday May 11. Prior to the meeting on Tuesday, the miner announced that it would work with Sydney-based technology company Calix Limited on a scoping study on a new refini...Read More
The European manganese alloys markets extended their rally over the week ended Friday May 7, marking a general run higher in prices since March, trade sources told Fastmarkets.This came against domestic production cuts, strengthening demand from steelmakers and more expensive replacement costs for alloys from overseas, which combined to elicit short-covering.Industry sources reported an increase i...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 11 that are worth another look....Read More
The Egyptian government announced details of its trial period for the reintroduction of construction permits in an official statement published on Sunday May 9, sources have told Fastmarkets.According to the statement, construction permits will be issued in 27 cities for a period of two months, and will then be available in all cities across Egypt from July 1, 2021.Egypt has had a ban on construct...Read More
A summary of German industrial group Thyssenkrupp's results for the second quarter of its current business year 2020-21, covering the period from January 1 to March 31, 2021.In brief Thyssenkrupp's second-quarter results continue to improve after a successful first quarter, with all segments contributing to better earnings. Thyssenkrupp's Steel Europe segment reported significantly improved sales,...Read More
The United Arab Emirates' state-owned General Holding Corporation (Senaat) has offered Arkan Building Materials the opportunity to combine Senaat's subsidiary Emirates Steel with Arkan, Arkan Building Materials said on Sunday May 9.Emirates Steel - based in Abu Dhabi, UAE - is the country's only integrated steel producer and is wholly owned by Senaat, with Arkan's 51% of shares belonging to Senaat...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 11 that are worth another look....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
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
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 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 three-month price of zinc rebounded above the $3,000 per tonne mark on the London Metal Exchange and nickel had the largest percentage gain on Tuesday May 11, while most other base metals metals also finished higher due to some dip-buying after prices fell on Monday.Zinc's benchmark futures contract was up by 0.6% to $3,009 per tonne on Tuesday, following a 0.7% decrease of Monday to $2,991.50...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
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
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
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
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