A potential global ban on internal combustion engines (ICEs) by 2030 could facilitate a growth in nickel's share of the electric vehicle battery market to 80%, Al Bedwell of automotive intelligence provider LMC Automotive said at the 7th International Nickel Conference on Thursday June 6. The potential for a ban of traditional ICE vehicles by 2030 is driven by crackdowns on carbon emissions in Eur...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday June 6 that are worth another look.A potential global ban on internal combustion engines in 2030 could facilitate growth in nickel's share of the electric vehicle battery market to 80%, Al Bedwell, of automotive intelligence provider LMC Automotive, said at the 7th International Nickel Conference on Thursday June 6. A grou...Read More
Indonesia will continue to ramp up its production of refined nickel in anticipation of demand for material to be used in electric vehicle (EV) batteries, senior Macquarie consultant Jim Lennon told delegates at the 7th International Nickel Conference in Amsterdam on Thursday June 6.Macquarie has forecast that global nickel supply must grow by 1.7 million tonnes per year between 2018 and 2030. This...Read More
Indonesia could account for 40% of the global supply of nickel units in four years' time, compared with 29% this year, Jim Lennon, a consultant for financial adviser Macquarie, said on Thursday June 6.Indonesia was on track to supply 700,000 tonnes of nickel units this year, including ores, matte, nickel pig iron (NPI) and ferronickel. This will, however, still be less than in 2013, before the cou...Read More
Copper stocks on the Shanghai Futures Exchange have decreased by 12% as of Thursday June 6, attributed to a pick-up in demand during the traditional consumption season. Deliverable copper stocks at SHFE-approved warehouses have fallen by 19,813 tonnes since the last SHFE stock release on Friday May 31 to 145,626 tonnes as of June 6. The SHFE released its weekly stocks report on Thursday this week...Read More
Exports of nickel ore from the Philippines will decrease by 21 million tonnes in 2019, Koichi Ishihara of Nickel Asia Corp (NAC) told delegates to the 7th International Nickel Conference in Amsterdam on Thursday June 6.The reduced export total for the year will be around 26 million tonnes, NAC said. The decrease comes while the nickel sector in the country faces internal pressure from high taxatio...Read More
The first deal for third-quarter aluminium ingot supply to Japan has been concluded at a cif premium of $108 per tonne basis main Japanese ports (MJP), nearly 3% above the second-quarter benchmark, market sources told Fastmarkets on Thursday June 6. The deal between a Japanese aluminium trading firm and an overseas supplier was agreed very early in the negotiations process and slightly above marke...Read More
Reinforcing bar prices in the United States have hit a more than 14-month low, with market sources expecting lackluster demand, abundant supply, falling scrap costs, trade-related uncertainties and slowing business conditions to weaken prices further. Fastmarkets' price assessment for domestic rebar fell to $33.50-34 per hundredweight ($670-680 per short ton) fob mill on Wednesday June 5, its lowe...Read More
International metals group Liberty House is unlikely to bid for troubled UK long steel producer British Steel, Fastmarkets has heard.Liberty House declined to comment on the subject at the time of publication."British Steel doesn't really fit in with their business model, which is based on recycling steel scrap rather than primary steel production," an industry source told Fastmarkets on Thursday...Read More
China's hot-rolled coil prices weakened again on Thursday June 6 on thin trading amid bearish sentiment and rising inventory levels.DomesticEastern China (Shanghai): 3,840-3,850 yuan ($556-557) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,790-3,800 yuan per tonne, down 10 yuan per tonneTransaction prices fell nationwide despite mills keeping their offers steady, with buyers being r...Read More
China's domestic rebar prices retreated on Thursday June 6 on softer demand amid losses in the futures market. Domestic Eastern China (Shanghai): 3,890-3,930 yuan ($563-569) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,840-3,890 yuan per tonne, down 10 yuan per tonneStockists cut their prices to secure more sales ahead of the long weekend, with China observing a public holiday on F...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom.Latest transaction: billetBillet China,...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreBHP, Global Ore, 90,000 tonnes of 58% Fe Yandi fines, traded at the July average of two 62%...Read More
The cfr China segment of the seaborne coking coal market continued to weaken on Thursday June 6, with a cargo of premium materials being traded below prevailing levels.A cargo of a top Australian brand scheduled for loading over July 10-24 was sold to a Chinese trader at $204.67 per tonne cfr China, various sources told Fastmarkets.The same brand had changed hands at $212.77 per tonne cfr China mo...Read More
Vale has lowered the alert level at its Vargem Grande dam following a series of structural improvements made since January in the wake of a deadly breach of another."The Vargem Grande dam, located in the Ab??boras mine in Nova Lima, Minas Gerais, Brazil, had its emergency action plan for mining dams level reduced from 2 to 1," Vale said on Wednesday June 5.Vale did not announce any related changes...Read More
Zinc's three-month price on the London Metal Exchange climbed by more than 2% during morning trading on Thursday June 6, breaching its nearby $2,500 per tonne resistance level while the metal's forward spreads begin to show signs of easing. Volumes traded in the galvanizing metal were strong over the morning, topping the complex with more than 6,500 lots exchanged as at 9.45am London time. Prompti...Read More
One disappointment after another in the world of trade and economic data, with the only relief coming in the form of potential for easier monetary policy, makes for a gloomy outlook.The outlook could be saved if a trade deal arrives soon, otherwise it looks like the global economy is being wounded as it suffers one blow after another.International Monetary Fund cuts its 2019 economic growth foreca...Read More
Key data from the Wednesday June 5 pricing session in China. Key driversChinese cobalt sulfate price stabilizes due to producers' efforts to keep their offer prices steady. Consumer demand remains weak amid uncertainty surrounding electric vehicle (EV) sales in the second half of 2019. Chinese battery and battery materials manufacturers have slowed their operations while they await greater clarity...Read More
Key data from the Wednesday June 5 pricing session in Europe.Key drivers Thin demand in Europe for both grades of the material.A call from the antimony branch of the China Nonferrous Metals Industry Association asking major producers in the country to reduce output in a bid to reverse price weakness could...Read More