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
China's Dalian Commodity Exchange (DCE) issued a risk notice on Monday May 10 amid high volatility in the commodity futures in recent days, with its price limits rising in response to various contracts hitting their daily ceilings on the same day. The DCE said in its notice that it had noticed increased volatility in the futures contracts for coking coal, coke and iron ore due to fundamental chang...Read More
The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the shipping sector, speakers said during the Supply Chain Talks digital event on Wednesday May 5.The blockage of the waterway between March 23 and 29 created havoc for g...Read More
Turkish steel producers took a break from making deep-sea scrap purchases on Monday May 10 after last week's buying spree that raised prices by $39 per tonne week on week, sources told Fastmarkets.At least 10 deep-sea cargoes were booked by Turkish steel producers last week.The most recent deep-sea transaction was a Baltic Sea cargo sold at $488 per tonne cfr on an HMS 1&2 (80:20) basis.Suppliers...Read More
Seaborne iron ore prices went down on Tuesday May 11 due to less market liquidity and weakened sentiment amid China's Dalian Commodity Exchange's risk notice, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $228.93 per tonne, down $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $229.81 per tonne, down $2.80 per tonne58% Fe fines high-grade premium, cfr Qingdao: $200.07 p...Read More
Base metals' prices on the London Metal Exchange recovered on Tuesday May 11 morning, after falling for the first time since the start of the month on Monday amid a rise in inflation fears for United States equities, which meant the Nasdaq index fell to its lowest since March 31."Record high copper, steel and iron ore prices, among other commodities, stoked inflation fears and pushed Wall Street l...Read More
Seaborne coking coal prices surged sharply in the cfr market due to active speculative buying interest and inched higher in the fob market following global buying activity on Tuesday May 11, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.05 per tonne, up $1.42 per tonnePremium hard coking coal, cfr Jingtang: $246.35 per tonne, up $11.81 per tonneHard co...Read More
China's domestic rebar prices stopped rising on Tuesday May 11 due to rain sapping demand a day after the market surged, due participants still have a bullish outlook. DomesticEastern China (Shanghai): 6,000-6,030 yuan ($934-939) per tonne, unchanged Rain affect parts of eastern China and disrupted construction activity and stalled the transportation of rebar, which resulted in a drop in trading c...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
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
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
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
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
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
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
Pilbara Minerals has signed a memorandum of understanding with Sydney-based technology company Calix Limited to jointly undertake a scoping study to evaluate a new refining process, the Australian lithium miner said on Tuesday May 11. If the results of the scoping study - which will run until late 2021 - are positive, the two companies will set up a joint venture to develop a demonstration plant t...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