MineHub Technologies Inc has launched an application to digitalize and streamline the assay exchange process between buyer, seller and laboratories in base metal concentrates transactions, the blockchain technology platform said.The application, known as MineHub Assay Exchange, is the first in a series of network applications for concentrates that the company intends to roll out over the next mont...Read More
Mytilineos, which owns producer Aluminium of Greece, has received the Aluminium Stewardship Initiative's (ASI) Performance Standard.The certification was awarded to Mytilineos's metallurgy business unit for its upstream activities, including bauxite mining, alumina refining, aluminium smelting and casting. The company's bauxite mining activities at its Delphi Distomon site, its refining, smel...Read More
Chinese lithium-ion battery cathode materials producer Beijing Easpring Material Technology has signed a strategic cooperation agreement with SK Inc to develop cathode materials production projects in Europe, Asia and the United States, the company said on Monday November 15.Under the agreement, SK will invest in Easpring's Finnish joint venture with an equity ratio of no more than 30% to develop...Read More
Hot-rolled coil prices in the United States weakened to the lowest level since July after more buyers stood on the sidelines, unwilling to accumulate inventory while mill pricing is on a downward trajectory.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.47 per hundredweight ($1,829.40 per short ton) on Tuesday November 16, a decrease of 0.32% from $91.76 per cwt...Read More
Domestic prices for hot-rolled coil were fairly stable in Northern Europe and Italy on Tuesday November 16 due to a lack of trading activity, sources told Fastmarkets.Spot buyers will remain in "wait-and-see" mode until the price trend becomes clear and long-term contracts are settled, sources said.Producers across Europe have been aiming for higher prices for first-quarter rolling coil due to ris...Read More
Export hot-rolled coil prices from the Commonwealth of Independent States fell in the week to Monday November 15 in new deals for Ukraine-origin material to Turkey.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $820-850 per tonne on Monday, down from $830-870 per tonne a week earlier.Ukraine-origin HRC was sold to Turkey at $850-870 per tonne cfr - e...Read More
Export prices for Chinese steel cold-rolled coil and hot-dipped galvanized coil extended their declines over the week to Tuesday November 16, dropping to their lowest in seven and a half months.Although domestic HRC prices have stemmed their losses, trading liquidity for Chinese CRC and HDG exports failed to pick up, as potential further downsides in prices and fears of an introduction of exp...Read More
Spot prices for hot-rolled coil in China edged higher on Tuesday November 16, thanks to a short-lived rebound in futures prices.DomesticEastern China (Shanghai): 4,720-4,750 yuan ($740-745) per tonne, narrowing up by 20 yuan per tonneThe most-traded HRC contract the Shanghai Futures Exchange climbed to an intraday high of 4,527 yuan per tonne on Tuesday, before reversing to register the third day...Read More
The lower house of the Federal Assembly of Russia, known as the State Duma, approved on Tuesday November 16 an increase in the existing duty imposed on exports of steel scrap to ?,?100 ($114) per tonne, according to the State Duma web portal.The approval came from the subcommittee on Customs and Tariff Regulation, the web portal said. Standard procedures suggest that the increase would become effe...Read More
Turkish steelmakers were mostly quiet in the deep-sea scrap import markets following a sharp decline in the country's currency value, market participants told Fastmarkets on Tuesday November 16.Mills booked three deep-sea cargoes for December shipments at the beginning of the week.A steel mill in the Marmara region booked a UK cargo at $490 per tonne and a Baltic Sea cargo at $494.50 per tonne cfr...Read More
German steelmakers have settled their monthly steel scrap contracts for November at higher prices, sources told Fastmarkets on Tuesday November 16.The main drivers behind the price increase were strong demand among the steelmakers and the short supply of scrap, particularly of new grades."Prices increased on average by about ?,?30 [$34] per tonne. As usual, the price rise was slightly different de...Read More
Seaborne coking coal prices in the cfr China market fell on Tuesday November 16 amid weak demand from Chinese steel mills, while fob prices also slipped due to a lack of trading activity, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $500.21 per tonne, down $18.39 per tonneHard coking coal, cfr Jingtang: $450 per tonne, down $4.52 per tonnePremium hard coking coal, fob DB...Read More
Seaborne iron ore prices moved up slightly but overall market sentiment remains weak, sources told Fastmarkets on Tuesday November 16.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.04 per tonne, up $0.99 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.00 per tonne, up $0.74 per tonne58% Fe fines high-grade premium, cfr Qingdao: $63.07 per tonne, up $1.08 per tonne65% Fe Brazil-orig...Read More
Prices for steel scrap imported into China tumbled on Tuesday November 16 after Chinese mills lowered domestic scrap purchase prices further, market sources said. Continued drop in China's domestic scrap buy prices pressures import appetite.Taiwanese buyers bid lower.ChinaSpot prices for steel scrap imported into China weakened further on Tuesday amid bearish sentiment in the domestic scrap market...Read More
Base metals prices on the London Metal Exchange were mostly trading down at 9am on Tuesday November 16 - with the exception of nickel, which was up by over $70 per tonne.Strength in the United States dollar weakened base metals prices, with the US Dollar Index opening the day at $95.53, the highest opening figure since July 21, 2020. The rally has come off slightly since Monday's highs of $95.60.T...Read More
The downward trend in China's domestic rebar prices was halted by a rise in trading activity on Tuesday November 16, sources told Fastmarkets.Domestic Eastern China (Shanghai): 4,700-4,730 yuan ($737-742) per tonne, unchangedBuyers raised procurement rates on Tuesday morning in response to futures gains, which halted the decline in spot market prices, sources said.The most-traded January rebar fut...Read More
UK-based recycler HyProMag Ltd has established a subsidiary in Germany to roll out the commercialization of technology to recycle rare-earth magnets into the European market, a shareholder in the British company has said.Magnito Ltd is a subsidiary of Canadian minerals explorer Mkango Resources, and it holds a 42% stake in HyProMag. According to Mkango, the goal of the new German operation is to s...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...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, in-whs Rotterdam,...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesOctober 8: 90 tonnes (15 tonnes each month between January to June 2022, all at $26.75 per lb)October 14: 5 tonnes for December 2021 at $26.85 per lbOctober 15: 65 tonnes (5 tonnes for November 2021 at $...Read More