The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned. The Ministry of Industry and Trade of the Russian Federation (Minpromtorg) might further limit scrap exports from the country. New trade remedies, such as quotas or even export bans, could be applied, deputy ministe...Read More
A dozen EU member states have called on the European Commission to extend the safeguard measures on steel imports that are due to expire on June 30 this year, according to a letter seen by Fastmarkets on Tuesday January 26.The letter, dated January 14, was signed by the governments of 12 countries: Italy, Germany, France, Slovakia, Luxembourg, Finland, Hungary, Poland, Spain, the Czech...Read More
Here are five Fastmarkets stories you might have missed on Monday January 25 that are worth another look.The London Metal Exchange will launch its new cash-settled lithium futures contract on June 14, 2021, settled against Fastmarkets' price assessment for lithium hydroxide monohydrate.Liberty Steel Group has completed...Read More
Liberty Steel Group has completed "due diligence" on Thyssenkrupp Steel Europe and submitted a "firmed up" bid for its acquisition based on the results, the UK-based steel company told Fastmarkets on Monday January 25."On Monday January 25, 2021, Liberty Steel submitted a firmed-up bid for Thyssenkrupp Steel Europe based on the results of the comprehensive due diligence process including multiple...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 26 that are worth another look.The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned.A global shortage...Read More
A summary of base metals premiums from across the globe for the week to Tuesday January 26.Please click...Read More
Ferrous scrap prices in Mexico have held steady or moved up marginally week on week, but market participants indicated that prices may have peaked, noting growing talk of price cuts.Fastmarkets' price assessments edged up in the country's central Baj?-o region. Some market participants reported that consumers applied increases, which had been announced in the week to January 15, to their buying pr...Read More
A dozen EU member states have called on the European Commission to extend the safeguard measures on steel imports that are due to expire on June 30 this year, according to a letter seen by Fastmarkets on Tuesday January 26.The letter, dated January 14, was signed by the governments of 12 countries: Italy, Germany, France, Slovakia, Luxembourg, Finland, Hungary, Poland, Spain, the Czech...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 26 that are worth another look.The Russian government is considering stricter scrap export restrictions to combat rises in prices for finished steel used in the domestic construction sector, Fastmarkets has learned.A global shortage...Read More
The cash price for tin and its benchmark spread are receiving a boost from a short-term lack of supply on the London Metal Exchange, the question is when and how stocks on the exchange will return?The LME cash contract was at $23,120 per tonne on January 26 and traded nearly $300 above its three-month delivery counterpart, which went as high as $22,740 per tonne the same day, with both prices at n...Read More
China's ban on Australian mined copper import and a lingering Peruvian mine disruption have gone against its smelting industry's original ambition to produce more copper, Fastmarkets understands.China has been engaged in an escalating trade row with Australia of late, with Chinese copper smelters and traders verbally ordered to avoid buying Australian copper concentrate in early November 2020. The...Read More
A sharp increase in China's cobalt metal imports last year was a consequence of refineries' efforts to hedge against tightening upstream supply, and trader moves to lock in profits during times of a favorable import arbitrage, market participants told Fastmarkets. And these participants expect imports to remain elevated in 2021.A total of 6,192 tonnes of cobalt metal was shipped to China over the...Read More
Tin and lead's forward prices on the London Metal Exchange continued their advances, with rises of over 1.5% on Tuesday January 26 and tin nearing the $23,000 per tonne mark, supported by falling stocks and a lower dollar index. Tin's price reached yet another new year-to-date high during trading of $22,900 per tonne on Tuesday, nearing the July 9, 2014 intraday high of $22,950 per tonne. The met...Read More
The cash price for tin and its benchmark spread are receiving a boost from a short-term lack of supply on the London Metal Exchange, the question is when and how stocks on the exchange will return?The LME cash contract was at $23,120 per tonne on January 26 and traded nearly $300 above its three-month delivery counterpart, which went as high as $22,740 per tonne the same day, with both prices at n...Read More
Iron ore prices fell on Tuesday January 26, due to weakening demand generally and in response to China's announcement about its plans to cut crude steel production in 2021 as part of its 14th Five-year Plan. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $165.07 per tonne, down $4.09 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.19 per tonne, down $3.94 per tonne58% Fe fi...Read More
Tin and lead's forward prices on the London Metal Exchange continued their advances, with rises of over 1.5% on Tuesday January 26 and tin nearing the $23,000 per tonne mark, supported by falling stocks and a lower dollar index. Tin's price reached yet another new year-to-date high during trading of $22,900 per tonne on Tuesday, nearing the July 9, 2014 intraday high of $22,950 per tonne. The met...Read More
Activity in the European hot-rolled coil market has been slow, with buyers avoiding purchases in expectation of long-term price falls, sources told Fastmarkets on Tuesday January 26.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?711.00 ($864.16) per tonne on Tuesday January 26, up by ?,?1 from ?,?710 per tonne on January 25.The index was down...Read More
A global shortage of computer chips, another consequence of the Covid-19 pandemic that is affecting carmakers, has in some cases forced automotive producers to close assembly lines, Fastmarkets understands.In the automotive manufacturing sector, silicon-based computer chips - semiconductors - have become increasingly important due to their use in safety-related electronics systems, video displays...Read More
Brass and bronze ingot maker Atlas Pacific Corp has ceased alloy ingot manufacturing, according to sources with direct knowledge of the matter.The Bloomington, California-based scrap processor is instead sourcing products from other foundries in order to supply its customers, those sources said."As part of a long-range strategic plan, Atlas Pacific is now fully aligned with premier companies to ma...Read More
Demand for copper to be used in electric vehicles (EV) and other renewable energy applications was expected to be almost the equivalent of the total US refined copper market by 2025, according to the country's largest copper producer.Richard Adkerson, chief executive officer of Freeport-McMoRan, told a conference call for the company's 2020 earnings on Tuesday January 26 that global EV and renewab...Read More