Luo Tiejun, the vice president of the China Iron & Steel Association (Cisa) said the country will take measures to push down steel production in 2021 and raise imports.Luo, who spoke at the Regional Comprehensive Economic Partnership's (RCEP's) Steel Development Forum on Friday April 9, emphasized five major points, according to a report on Cisa's website.Lower crude steel outputCisa is of the opi...Read More
China's hot-rolled coil prices tumbled on Monday April 12 amid a government call for stable commodity prices, but exporters raised their offers after a rise in trading activity last week.DomesticEastern China (Shanghai): 5,350-5,390 yuan ($817-823) per tonne, down 100-110 yuan per tonneSellers in the spot market had to lower their offers after sentiment was dampened by slumping futures.Several dom...Read More
Key data from the pricing session in London on Friday April 9. Key drivers Buyers have started to resist numbers above $3,100 per tonne while shipment offers from China kept falling and end-user demand has started to slow.Still, tight prompt availability in Europe and continuing shipping delays from China are supporting prices above...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.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...Read More
The pace of decline in the Chinese cobalt sulfate market eased on Friday April 9 after aggressive offers for scrap-fed material started to disappear. Lower offers for cobalt sulfate produced from scrap has put downward pressure on the whole market since the second half of March. They prompted most sellers to continue lowering offers for sulfate produced from hydroxide (regular-fed material) t...Read More
Chinese battery maker Contemporary Amperex Technology's (CATL) indirectly controlled subsidiary Ningbo Brunp Times New Energy will acquire a 25% share of China Molybdenum Co's (CMOC) KFM Holding Ltd to develop Kisanfu copper-cobalt project together, CATL said on Sunday April 11. CMOC Ltd, a wholly-owned subsidiary of CMOC, signed a strategic co-operation agreement with Ningbo Brunp Times New Energ...Read More
Seaborne low and high-grade manganese ore prices continued to fall in the week to Friday April 9 while market activity was light and sentiment continued to drop concurrent with pricing expectations among participants from both sell and buy sides failing to approach portside prices levels.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was calculated at $4.49 per dmtu on Friday April 9, down...Read More
Base metals prices on the London Metal Exchange were down across the board this morning, Tuesday April 13, as were most of the metals prices on the Shanghai Futures Exchange, while broader markets were quiet.* China’s trade data showed imports and exports grew, highlighting broad-based economic recovery* Markets waiting for the release of United States consumer prices today and to see how tha...Read More
Nvidia (NVDA), a NASDAQ 100 stock moved above $614.69 to an all-time high extending an intermediate uptrend.Oil and Gas Exploration SPDRs (XOP) moved below $76.09 setting an intermediate downtrend.CooncoPhillip (COP), an S&P 100 stock moved below $50.53 setting an intermediate downtrend.Oil Services ETF (OIH) moved below $179.54 setting an intermediate downtrend.Schlumberger (SLB), an S&P...Read More
Here are five Fastmarkets stories you might have missed on Friday April 9 that are worth another look.Export prices for Brazil-origin slab have increased amid high offers to the United States, where demand for the semi-finished steel is strong and flat steel prices are near record...Read More
Here are five Fastmarkets stories you might have missed on Friday April 9 that are worth another look.Export prices for Brazil-origin slab have increased amid high offers to the United States, where demand for the semi-finished steel is strong and flat steel prices are near record...Read More
Here are five Fastmarkets stories you might have missed on Friday April 9 that are worth another look.Export prices for Brazil-origin slab have increased amid high offers to the United States, where demand for the semi-finished steel is strong and flat steel prices are near record...Read More
Automotive manufacturer Volvo Group and Swedish steelmaker SSAB have signed a collaboration agreement for the research, development, serial production and commercialization of the world's first vehicles to be made of fossil-free steel, the companies said on Thursday April 8. Volvo plans to start the production of concept vehicles and components produced from steel made by SSAB using hydrogen this...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Tata Steel's recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.Yogesh Bedi, chief of Tata Steel Recycling Business, told Fastmarkets the company was in the final stages of commissioning a shredder, which would let the company offer domestically produced shredded sc...Read More
Here are five Fastmarkets stories you might have missed on Friday April 9 that are worth another look.Export prices for Brazil-origin slab have increased amid high offers to the United States, where demand for the semi-finished steel is strong and flat steel prices are near record...Read More
Here are five Fastmarkets stories you might have missed on Friday April 9 that are worth another look.Export prices for Brazil-origin slab have increased amid high offers to the United States, where demand for the semi-finished steel is strong and flat steel prices are near record...Read More
Proposed changes to the London Metal Exchange's market structure may actually have the opposite effect to its desired intention: destroying liquidity, not increasing it.Attention has been focused on the proposed permanent closure of the LME ring, the incentivization of electronic trade and changes to margin methodology, which were central issues in the exchange's recently closed discussion paper.B...Read More
The Shanghai Futures Exchange's plans to list ferro-chrome futures, potentially this year, will bring welcomed hedging opportunities and may weaken the dominance of China's stainless steel mills in the ore and alloy markets, participants told Fastmarkets.While no definite date or specifications of the ferro-chrome futures have been announced, Fastmarkets asked participants what changes these contr...Read More