The European Commission released legislative proposals on December 10 aiming to create a legal framework on sustainability, traceability and circularity of battery production throughout its life cycle.The proposal comes as the uptake of electric vehicles (EV) gains pace across European countries and to provide legal certainty for battery investments within Europe. This is in line with the European...Read More
Recurring protests have led to a fire at the mine and associated infrastructure at Vale New Caledonia (VNC), the Brazilian company said on Monday December 14. Firefighters and military forces spent the night at the site to control the incident, Vale said. The processing plant, 7 km away from the mine, was not affected, it added. Vale struck a deal with a consortium comprised of employees and...Read More
Three-month base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday December 15, with nickel being the only metal to see a rise of more than 0.5%, despite positive Chinese economic data. Nickel continues its upward trend, rising by 0.68% to $17,710 per tonne as at 9am London time, from Monday's 5pm closing price of $17,590 per tonne.The stainless-steel additive...Read More
China Copper became the head negotiator in the settlement of the 2021 copper concentrates treatment and refining charges (TC/RC) benchmark following years of expansion in copper capacity.On Monday December 14, the subsidiary of Chinalco - which has outgrown its state-owned peers - became the first smelter to secure a deal with US copper miner Freeport-McMoRan at $59.50 per tonne/5.95 cents per lb....Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data. Stricter lockdowns measures in many countries are a headwind for equity markets, which may flow into the metalsWith gold prices up and US treasury yields down, this suggests a pick-up in haven demandBase metals The three-m...Read More
Buyers of steel rebar in the United Arab Emirates expect new domestic prices to be announced this week with an increase of about 315-515 dirhams ($86-140) per tonne, sources told Fastmarkets on Tuesday December 15.Domestic rebarSince November, the country's steel producers have been offering rebar at 1,984,1,985 dirhams ($540) per tonne ex-works for orders to be produced in December. However, the...Read More
The export market for long steel products from the Commonwealth of Independent States (CIS) increased again during the week to Monday December 14 amid new sales and strong billet prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $600-610 per tonne on Monday, up by 11% from $540-550 per tonne a week...Read More
The export price for steel slab from the Commonwealth of Independent States (CIS) went up again over the week to Monday December 14 on new sales, sources said.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $620-625 per tonne on December 14, up from $570-580 per tonne a week earlier.Ukraine-origin steel slab was sold...Read More
Domestic prices for hot-rolled coil increased day on day in Northern Europe on Tuesday December 15 due to a materials shortage in the market, and steelmakers are preparing to announce higher offers soon, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?636.25 ($772.68) per tonne on December 15, up by ?,?12.92 per...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to rise over the past week, mainly due to strong global demand and despite there being less enthusiasm in their domestic markets.Demand was not strong in the UAE or Saudi Arabia because stock levels were sufficient and end-user demand was only limited, sources told Fastmarkets on Tuesday December 15.UAEOffer pric...Read More
Offer prices for steel billet originating in the Commonwealth of Independent States continued to move up due to surging scrap costs and tight supply, while trading was quiet this week on offer-bid disparity, sources told Fastmarkets on Tuesday December 15. Offers for steel billet for February shipment from some Russian mills were heard within the range of $560-580 per tonne fob on Tuesday, with so...Read More
Turkish steelmakers continued to book deep-sea scrap for February 2021 shipments at increasing prices, sources said on Tuesday December 15.A steel mill in the Marmara region booked a European cargo comprising an 80:20 mix of No1 and No2 heavy melting scrap at $421 per tonne and bonus at $431 per tonne cfr. This compared with the previous cargo sold from the Baltic Sea region at $419 per tonne...Read More
A shortage of scrap has forced Riva Group to halt steel making operations at its Hennigsdorf site in Germany, several sources told Fastmarkets on December 15.The rebar and wire rod producer had to suspend operations at the Hennigsdorf site, in Brandenburg state in the north east of Germany, last week because it had run out of steel scrap, several sources told Fastmarkets."Riva's Hennigsdorf has no...Read More
Seaborne iron ore prices were rangebound on Tuesday December 15 compared with the previous day, but trading activity had picked up at the Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $155.07 per tonne, up $0.70 per tonne62% Fe low-alumina fines, cfr Qingdao: $155.09 per tonne, up $0.38 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.90...Read More
Premium hard coking coal cfr and fob prices diverged slightly on Tuesday December 15, with the premium hard coking coal cfr price up and fob price down, sources told Fastmarkets. Some coke producers in China proposed a ninth round of price increases - with an increase of 50 yuan ($8) per tonne starting from December 15 - and some steel mills accepted the proposal, sources said.Fastmarkets ind...Read More
China's hot-rolled coil prices declined for the second consecutive day on Tuesday December 15 after reaching a nine-year high on December 11, but trading activity has picked up, sources said.DomesticEastern China (Shanghai): 4,470-4,480 yuan ($683-685) per tonne, down 10-40 yuan per tonneOne Shanghai-based trader said she had won more deals on Tuesday than a day ago after cutting offers and that&n...Read More
China's domestic rebar prices stopped their downtrend on Tuesday December 15 amid higher activity following stronger futures. DomesticEastern China (Shanghai): 4,130-4,160 yuan ($631-635) per tonne, unchangedBuyers raised their procurement rates following the futures market gains, sources said.Construction work in eastern and southern China was reportedly active over the day, Fastmarkets was told,...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...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...Read More
Belgian battery-materials manufacturer Umicore has upgraded its 2020 earnings guidance following a stronger-than-anticipated performance in November and December in its catalysis and recycling segments, the company said on Monday December 14. Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to be in the region of ?,?530 million ($644 million), compared with the...Read More