The three-month copper price on the London Metal Exchange was higher at the close of trading on Monday June 1, needing only a further slight push to rise above $5,500 per tonne - a level it has not breached since March 11 - while a smaller-than-expected fall in US monthly construction spending also supported the base-metals complex.Copper's underlying price on the LME closed at $5,484 per tonne on...Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
The UG2 chrome ore market rose for yet another week on Friday May 29, supported by Chinese buyers' attempts to restock, and ferro-chrome prices stabilized in firm market conditions. Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China climbed up for a fourth week in a row to $169 per tonne on Friday, up by $5 per tonne or 3% from $164 per tonne a week earlier. The...Read More
Prices in the European high-carbon and low-carbon ferro-markets increased in in the week ended Friday May 29.In high-carbon trading, industry sources reported deals agreed for more than 1,000 tonnes of alloy that raised the upper end of the price assessment. And deals for about 350 tonnes of more refined-grade material were reported, which had the same effect on the price range in that market.In a...Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.The monthly index takes account of the month's spot cobal...Read More
Turkish domestic ship scrap prices rose over the past week, in line with stronger imported scrap values, market sources said on Monday June 1.The Turkish steel producers resumed their deep-sea scrap purchases at higher prices after the Eid al-Fitr break, which marks the end of Ramadan.Following the upturn in import values, three steel mills raised their...Read More
Turkish steel producers have continued their deep-sea scrap purchases on further easing of the restrictions imposed to combat the Covid-19 pandemic in the country, sources said on Monday June 1.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 10,000 tonnes of shredded, 15,000 tonnes of plate and structural scrap (P&S) and 25,000 tonnes of HMS 1&2 (90:10) at an average pric...Read More
Aluminium producer Norsk Hydro and battery cell maker Northvolt have formed a joint venture to harness recycling synergies between their two industries, Northvolt said. The Hydro Volt venture aims to leverage the Norwegian market for electric vehicles to secure a sustainable feed of battery materials. Northvolt, based in the Swedish city of Stockholm, said the joint recycling hub is slated to star...Read More
Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.The monthly index takes account of the month's spot cobal...Read More
The European Commission (EC) plans to replace general annual quotas for hot-rolled coil with quarterly country-specific quotas and introduce some other strict measures to existing safeguard restrictions against imported steel, Fastmarkets understands.The EC sent a notice listing the changes to the World Trade Organization on May 29. The EC initiated a second review of the existing safeguard measur...Read More
Northern European hot-rolled coil producers still face poor demand for flat steel, sources told Fastmarkets on Monday June 1.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?402.50 ($446.83) per tonne on Monday June 1, up by ?,?1.79 per tonne from ?,?400.71 per tonne on May 29.Monday's index was calculated based on the latest deals, "workable" pri...Read More
Domestic prices for steel hot-rolled coil in Northern Europe decreased further during the week to Friday May 29, due to low demand.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?400.71 ($444.84) per tonne on Friday, down by ?,?6.79 per tonne week on week and by ?,?25.54 per tonne month on month.Friday's index was calculated based on deals and "workable" price...Read More
The United States Department of Commerce has announced an affirmative circumvention ruling against imports of steel concrete reinforcing bar (rebar) from Mexico.Commerce issued an affirmative preliminary circumvention ruling against Mexican rebar on March 4.Commerce said imports of straight rebar that is bent at one or both ends and produced and/or exported to the US by Deacero SAPI de CV circumve...Read More
Prices for domestic and imported merchant bar quality (MBQ) steel in the United States remained flat in May amid stirrings of activity and an improving outlook.Fastmarkets' monthly price assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was unchanged at $33.80 per hundredweight ($676 per short ton) on Friday May 29 after declining to that level on April 24; the...Read More
Prices for steel rebar in Russia's Central Federal District around Moscow declined over the past week due to slow demand, sources told Fastmarkets on Monday June 1. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, including 20% VAT was at 31,500-32,000 roubles ($449-456) per tonne on Monday, down from 32,000-33,000 last Tuesday. Activity in...Read More
Here are five Fastmarkets stories you might have missed on Monday June 1 that are worth another look.Mining company Rio Tinto has apologized for destroying one of Australia's oldest Aboriginal heritage sites in order to expand an iron ore project and said that it was urgently reviewing plans at other sites in the Juukan Gorge area.Aluminium producer Norsk Hydro and battery cell maker Northvolt hav...Read More
Turkish domestic ship scrap prices rose over the past week, in line with stronger imported scrap values, market sources said on Monday June 1.The Turkish steel producers resumed their deep-sea scrap purchases at higher prices after the Eid al-Fitr break, which marks the end of Ramadan.Following the upturn in import values, three steel mills raised their...Read More
Turkish steel producers have continued their deep-sea scrap purchases on further easing of the restrictions imposed to combat the Covid-19 pandemic in the country, sources said on Monday June 1.A steel mill in the Iskenderun region booked a Canadian cargo, comprising 10,000 tonnes of shredded, 15,000 tonnes of plate and structural scrap (P&S) and 25,000 tonnes of HMS 1&2 (90:10) at an average pric...Read More
Sentiment in the CIS export market for steel billet improved over the weekend of May 30-31 with higher bids heard from customers in China.The increased cost of iron ore, together with an upswing in the East Asian country's domestic rebar market and production cuts planned in Tangshan province, supported interest in imported billet.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao, wa...Read More