All base metals lost ground during trading on Thursday June 11, with the London Metal Exchange three-month aluminium price falling by 2% to close at $1,601.50 per tonne.There were 15,086 lots of aluminium traded on Thursday, and the underlying aluminium price touched an intraday high of $1,629.50 per tonne, although that is still lower than Wednesday's closing price of $1,638 per tonne.LME alumini...Read More
Chinese vanadium price rises have increased the differential with the European vanadium market, sparking interest in import business in China, market sources told Fastmarkets. Fastmarkets assessed the price of ferro-vanadium, 78% V min, fob China at $30-31.50 per kg on Thursday June 11, up by 3.4% week on week and its fourth consecutive weekly rise, while its assessment for the ferro-van...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 11 that are worth another look.GFG Alliance is to create its first "Greensteel" facility in Europe at its Liberty Steel facility in Galati, Romania, as part of its plan to become carbon neutral by 2030, the company said this week.A deal for third-quarter aluminium ingot supply to Japan has been concluded at a premium of $68 p...Read More
The London Metal Exchange recently reiterated its willingness to facilitate spot trading of low carbon aluminium. While not a new concept for the exchange, it would serve two important purposes. First, it would provide more transparent, digitalized data on the specification of its aluminium brands and determine whether people are actually paying more for low carbon metal. Second, it would pro...Read More
The London Metal Exchange has bolstered efforts to explore low-carbon initiatives this month, emphasizing green aluminium production as its target, but at a time of unprecedented distortions across the global raw materials supply chain, market sentiment remains mixed. The exchange is set to begin exploring steps to incorporate diversified aluminium production into its systems, LME chief executive...Read More
The London Metal Exchange aluminium price has climbed 6.5% so far this month, piggybacking on the uptrend in the rest of the complex, even though aluminium stocks at registered warehouses are at a three-year high. The three-month aluminium price hit an intraday high of $1,640 per tonne before closing at $1,627.50 per tonne on June 10, up from $1,528 per tonne at the start of the month. This is up...Read More
A slew of extensive stimulus measures to boost the adoption of electric vehicles (EVs) in Europe in the aftermath of the Covid-19 pandemic is unlikely to provide any immediate support to prices for cobalt and lithium in China, according to market participants. In the past two weeks, several European countries, including Germany and the United Kingdom, either announced schemes to encourage the adop...Read More
All base metals lost ground during trading on Thursday June 11, with the London Metal Exchange three-month aluminium price falling by 2% to close at $1,601.50 per tonne.There were 15,086 lots of aluminium traded on Thursday, and the underlying aluminium price touched an intraday high of $1,629.50 per tonne, although that is still lower than Wednesday's closing price of $1,638 per tonne.LME alumini...Read More
The London Metal Exchange has bolstered efforts to explore low-carbon initiatives this month, emphasizing green aluminium production as its target, but at a time of unprecedented distortions across the global raw materials supply chain, market sentiment remains mixed. The exchange is set to begin exploring steps to incorporate diversified aluminium production into its systems, LME chief executive...Read More
The London Metal Exchange aluminium price has climbed 6.5% so far this month, piggybacking on the uptrend in the rest of the complex, even though aluminium stocks at registered warehouses are at a three-year high. The three-month aluminium price hit an intraday high of $1,640 per tonne before closing at $1,627.50 per tonne on June 10, up from $1,528 per tonne at the start of the month. This is up...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore prices have shot up as market participants have judged the supply risks from Covid-19 higher at this point in time when there is already a tight seaborne market. Despite the efforts to ramp up, Vale is struggling to catch up with its pre-dam disaster export volumes and its slow recovery has only been hit further by...Read More
The London Metal Exchange has bolstered efforts to explore low-carbon initiatives this month, emphasizing green aluminium production as its target, but at a time of unprecedented distortions across the global raw materials supply chain, market sentiment remains mixed. The exchange is set to begin exploring steps to incorporate diversified aluminium production into its systems, LME chief executive...Read More
The London Metal Exchange aluminium price has climbed 6.5% so far this month, piggybacking on the uptrend in the rest of the complex, even though aluminium stocks at registered warehouses are at a three-year high. The three-month aluminium price hit an intraday high of $1,640 per tonne before closing at $1,627.50 per tonne on June 10, up from $1,528 per tonne at the start of the month. This is up...Read More
The London Metal Exchange recently reiterated its willingness to facilitate spot trading of low carbon aluminium. While not a new concept for the exchange, it would serve two important purposes. First, it would provide more transparent, digitalized data on the specification of its aluminium brands and determine whether people are actually paying more for low carbon metal. Second, it would pro...Read More
Zambian blister copper producer Chambishi (CCS) has brought forward its 43-day maintanence plan after being hit by a furnace outage since early June, Fastmarkets understands.With a 250,000 tonne-per-year copper capacity, the CCS plant is one of the biggest copper smelters in Zambia to supply blister copper to the export market. The subsidiary of China Nonferrous Mining Corp (CNMC) h...Read More
Fastmarkets has corrected its two Shanghai bonded copper premiums, which were published incorrectly on Wednesday June 10 due to an error. Fastmarkets' daily price assessment for copper grade A cathode ER premium, bonded in-whs Shanghai (MB-CU-0383) was originally published at $80-90 per tonne on June 10. This has now been corrected as $75-80 per tonne. The copper grade A cathode SX-EW pr...Read More
A deal for third-quarter aluminium ingot supply to Japan has been concluded at a premium of $68 per tonne cif main Japanese ports (MJP), sources told Fastmarkets on June 11 - a drop of 20% from a deal done last week.The tonnage, sold by a trader to a Japanese trading house, is 1,500 tonnes, with 500 tonnes to be supplied in each month of the quarter.This follows the first deal for the third quarte...Read More
Plate prices in the United States - currently at their lowest since November 2016 - have almost converged with hot-rolled coil due to weaker end markets for plate while sheet mills have been able to collect price increases during the recovery from the Covid-19 pandemic-related slowdown.As of Wednesday June 10, there is only a $1-per-hundredweight ($20-per-short-ton) differential between cut-to-len...Read More
Prices for most imported flat-rolled and plate products in the United States have moved up as a result of steel prices rising both internationally and domestically, yet interest in importing remained low due to still weak - although improved - demand.Sources recognized that strong demand from China while the East Asian country gradually recovers from the Covid-19 pandemic has resulted in limited s...Read More
Turkish billet import prices increased over the past week, in line with rising imported scrap costs, and domestic and export billet prices are expected to follow soon, sources said on Thursday June 11.Suppliers in the Commonwealth of Independent States (CIS) increased their billet offers to Turkey to $390-395 per tonne cfr, up from last week's $385-390 per tonne. Customers in Turkey, however,...Read More