Belgium-based battery-materials manufacturer Umicore has reached a multi-year supply agreement with South Korean battery maker LG Chem for nickel-cobalt-manganese (NCM) cathode materials, Umicore said on Monday September 23. Under the agreement, Umicore will supply LG Chem with a total of 125,000 tonnes of NCM cathode materials over several years, starting from 2020. The companies did not reveal t...Read More
A continental effort to limit the of single-use plastics is already encouraging an increase in European aluminium can production, Elval executive director Constantin Catsaros said at Fastmarkets' International Aluminium Conference in Athens on Tuesday September 24. "The ban of single-use plastics is a big move," Catsaros said. "Can makers are building out in Europe; I know of at least eight new ca...Read More
The downward trend in the European ferro-vanadium market continued in the week to Friday September 20, reflecting thin spot buying and continuously bearish sentiment European ferro-vanadium price slips on aggressive offers V2O5 prices follow alloy market lower Chinese ferro-vanadium export price stable in quiet spot market. US prices slide amid pressure from overseas declinesFastmarkets' price ass...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 2 points in pre-opening comments. Index futures responded to launch of an impeachment inquiry by the House of Representatives.Nike gained $5.37 to an all-time high at $92.55 after the company reported higher than consensus fiscal first quarter earnings. Stifel Nicolaus raise its target price to $106 form $96.Philip M...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Monday September 23, closing above the $2.300 per tonne threshold and topping the gains in the base metals complex, while sister-metal lead fell furthest over the afternoon.Zinc futures closed at $2,331 per tonne in the afternoon, breaching nearby resistance despite moderately thin turnover, with just ove...Read More
China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on Monday September 23. The latest quota, permitting less shipments than in the previous three releases, brings the total volume of copper scrap imports allowed into the country in the second half of 2019 to 484,767 to...Read More
First Quantum, owner of Kansanshi copper mine, is in discussions to sell part of its stake in Zambian copper assets to leading Chinese copper producer Jiangxi Copper, the miner said on Monday September 23. The Toronto-listed miner said the potential sale of a minority interest in its Zambian copper asset is ongoing and no transaction has been agreed at this stage. It did not disclose which asset i...Read More
Here are five Fastmarkets MB stories from Monday September 23 that are worth another look.China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on September 23.Faced with high and increasing emissions costs during a period of challenging market conditions, the steel indus...Read More
The market for low carbon ferro-chrome (0.10% C) in Europe rose on Friday September 20, indicating that prices had bottomed-out at a historic low level, with demand remaining subdued. Rise in low- and high-carbon alloy prices in Europe Spot alloy prices firm in China on higher Tisco tender price Imported alloy price in China steady Imported chrome ore prices stable US alloys fall amid weak demand....Read More
First Quantum, owner of Kansanshi copper mine, is in discussions to sell part of its stake in Zambian copper assets to leading Chinese copper producer Jiangxi Copper, the miner said on Monday September 23. The Toronto-listed miner said the potential sale of a minority interest in its Zambian copper asset is ongoing and no transaction has been agreed at this stage. It did not disclose which asset i...Read More
Key data from the pricing sessions in London and Shanghai in the week ending Friday September 21.ChinaKey drivers The price paid for silicon in China decreased in the week to September 21 after suppliers cut offer prices, with one deal reported done at $1,370 per tonne.The weak domestic market in China provided another headwind to the export market. Some domestic refiners sold grade-553 silicon at...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday September 20.ChinaKey drivers The price for antimony, MMTA standard grade II, ddp China, continued to rise in response to some domestic suppliers' raising offer prices a step further on resumed buying interest.Some domestic antimony consumers returned to the market for replenishment for fear of more rounds of price rises i...Read More
Turkish steel mills were still booking deep-sea scrap at stable prices at the start of the week while negotiations for further transactions continued, sources said on Monday September 23.A steel producer in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $233 per tonne, 4,000 tonnes of shredded at $238 per tonne and 4,000 tonnes of bonus at $243 per tonne cf...Read More
China has announced a fourth round of copper scrap import quotas to allow an extra 31,658 tonnes of copper scrap into the country by the end of 2019, the environmental ministry said on Monday September 23. The latest quota, permitting less shipments than in the previous three releases, brings the total volume of copper scrap imports allowed into the country in the second half of 2019 to 484,767 to...Read More
Turkish domestic scrap prices have gone down over the past week in response to the downturn in imported scrap values, sources said on Monday September 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,340-1,450 ($233-252) per tonne on Monday, down from last week's TRY1,400-1,575 per tonne.Following the decline in imported scrap values,...Read More
China's domestic hot-rolled coil prices rebounded on Monday September 23 with market participants expecting a supply drop due to production cuts, while exporters remained relatively conservative amid fierce competition from abroad.DomesticEastern China (Shanghai): 3,650-3,670 yuan ($515-517) per tonne, up 50-60 yuan per tonneNorthern China (Tangshan): 3,600 yuan per tonne, up 40-60 yuan per tonneB...Read More
China's rebar prices moved up on Monday September 23 after news broke that a few steelmaking regions would restrict production from this week. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($516-520) per tonne, up 50 yuan per tonneNorthern China (Beijing): 3,570-3,610 yuan per tonne, up 20 yuan per tonneLocal authorities in Tangshan are tightening steelmaking restrictions ahead of the countr...Read More
Offer prices for Turkish rebar to Singapore fell again in the week to Monday September 23, due to weak scrap prices....Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Turkish steel mills were still booking deep-sea scrap at stable prices at the start of the week while negotiations for further transactions continued, sources said on Monday September 23.A steel producer in the Iskenderun region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $233 per tonne, 4,000 tonnes of shredded at $238 per tonne and 4,000 tonnes of bonus at $243 per tonne cf...Read More