Tin market participants say they saw the record-breaking squeeze coming, but in pandemic-time trading, how does it get back to normal?It was at the beginning of the year when the phones started to ring. Hedge funds, eager to hitch a ride on the steadily rising price of tin, were in the market to buy physical stocks of the valuable metal that is predominately used in electronics.Solder makers and s...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More
Tin market participants say they saw the record-breaking squeeze coming, but in pandemic-time trading, how does it get back to normal?It was at the beginning of the year when the phones started to ring. Hedge funds, eager to hitch a ride on the steadily rising price of tin, were in the market to buy physical stocks of the valuable metal that is predominately used in electronics.Solder makers and s...Read More
Iron ore prices mostly edged down on Wednesday March 24, due to reduced trading activity, sources told Fastmarkets, but high-grade fines gained slightly due to concerns over supplies of Carajas fines from Brazil.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $161.39 per tonne,down $0.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $161.97 per tonne,down $0.03 per tonne58% Fe fines high...Read More
Domestic prices in Europe for steel cold-rolled coil increased further over the week to Wednesday March 24 due to a materials shortage combined with good demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?900-930 ($1,070-1,106) per tonne on March 24, up by ?,?10-20 per tonne from ?,?880-920 per tonne a week earlier.The as...Read More
Prices for steel hollow sections in Europe moved up in the week to Wednesday March 24 after mills sought to pass on higher feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?890-920 ($1,058-1,094) per tonne on Wednesday, up from ?,?860-890 per tonne the previous week.The price of hot-rolled coil (HRC...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More
Swedish metals and mining company Boliden is supplying low-carbon copper produced at its operations in northern Sweden and Finland to Elcowire, the wire rod producer said.The copper cathode supplied has a carbon footprint of less than 1.5 kg of carbon-dioxide (CO2) equivalent emissions per kg of copper, compared to an industry average the International Copper Association estimated to be around 4.1...Read More
The San Gerardo open-pit zinc-lead mine in Peru, part of the Atacocha plant, has resumed activities after 20 days of downtime because of community demonstrations that were blocking the road to the facilities, Brazilian base metals producer Nexa Resources said on Tuesday March 23.The ramp-up to full production was expected to take 3-5 days, the company added. The full effect of the temporary halt w...Read More
The global tin supply squeeze shows no sign of abating, pushing United States premiums close to $2,000 per tonne and European premiums to new all-time highs in the two weeks to Tuesday March 23.European, United States premiums hit all-time highs; supply tightness continues globallyTaiwan cif premium holds at $400-500 per tonneTin cash-to-three-month spread hovers around $2,000-per-tonne backwardat...Read More
Nicholas Quek has been appointed chief executive officer of Triland Metals Singapore Pte Ltd (TMS), with effect from Monday March 22.Quek joined TMS in April 1, 2019. Before becoming CEO, he was head of sales & trading.He replaces Shanthini Thaker, who...Read More
Minera Los Pelambres, the copper mine in Chile operated by Antofagasta, has reached a new labor deal with the trade union representing its employees following a period of government-mediated negotiations, the company said on Tuesday March 23.The new agreement will be valid for 36 months, and includes improvements in benefits and operational practices, as well as a bonus for agreeing the deal, the...Read More
Hot-rolled coil prices in the United States have steamed past $66 per hundredweight ($1,320 per short ton) and still have room to grow, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $66.36 per cwt ($1,327.20 per ton) on Wednesday March 24, up by 1.02% from $65.69 per cwt on Tuesday March 23 and 2.42% higher than $64.79...Read More
British Steel is increasing the use of scrap in its steelmaking process to reduce its carbon emissions, alongside investments in new equipment, the company said on Wednesday March 24.Increasing the use of recycled scrap has led to significant emissions and environmental benefits at its steelmaking plant in Scunthorpe, northern England, the company said. And it had plans to enhance this with more l...Read More
Fastmarkets launches a weekly price assessment for domestic steel hot-rolled coil in Spain from today, Wednesday March 24.Following a month-long consultation period, Fastmarkets has launched a weekly assessment of the price for steel hot-rolled coil, domestic, exw Spain, ?,? per tonne.This new assessment for domestic HRC prices in Spain and the daily index for similar material in Italy, launched o...Read More
Domestic prices for hot-rolled coil in Northern Europe increased day on day on Wednesday March 24, reaching their highest level since June 2008, sources have told Fastmarkets.Domestic prices in Italy have also increased day on day, supported by a material shortage, strong demand and rising import offers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at...Read More
Steel rebar prices in the north of Europe were stable in the week to Wednesday March 24, despite subdued buying activity, because of high feedstock prices, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?630-660 ($749-785) per tonne on Wednesday, unchanged for the second week in a row. The assessment...Read More
Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.The Turkish lira weakened sharply at the beginning of the week following the surprise decision by president Recep Tayyip Erdogan to sack central bank chief Naci Agbal and appoint a finance specialist,...Read More
Japanese steel scrap suppliers are limiting the volume of material they are offering to the market, in the expectation of a short-term recovery in prices, sources told Fastmarkets on Wednesday March 24."The supply side is stopping new offers and they feel the market will not decrease anymore," a Japanese steel scrap trader said.A second trading source added: "The Japanese domestic scrap market has...Read More
The trading stalemate in the Chinese ferrous scrap import market has remained over the past day, with buyers keeping their distance from purchasing amid limited offers from sellers.Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $460-470 per tonne on Wednesday March 24, unchanged from a day earlier.Major Chinese steel mills have not shown firm interest...Read More