Three-month base metals prices on the London Metal Exchange were mixed this morning, Monday February 4, with copper down by 0.4% at $6,116 per tonne and zinc leading on the upside with a 0.6% gain. Aluminium, nickel and lead were all up by 0.2% and tin was little changed.With the Lunar New Year holidays (February 4-10) underway in China and across most of Asia, volume across the LME base metals co...Read More
Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of Congo (DRC), an executive at Ford said. Using technology by IBM and overseen by responsible-sourcing group RCS Global, Ford and its partners are working to ensure that the cobalt used in lithium-ion batteries...Read More
Key data from the February 1 pricing session in London. Key drivers- Cobalt prices continue to soften, with material from certain metal brands understood to be in adequate supply over the coming months, because they were not committed to long-term supply deals. Benchmark standard-cobalt prices were down by 21.5% in January; alloy-grade prices were down by 23%.- The pace of price declines slowed wh...Read More
Automaker Ford Motor Co has no current plans to take stakes in mining assets or secure direct offtake agreements with mining firms in order to produce batteries for electric vehicles, although it hasn't ruled it out entirely. Ted Miller, senior manager for energy storage strategy and research at the Michigan, US-based company, said Ford had "considered all options" and ultimately opted for a more...Read More
Prices of flat steel products in Brazil fell in the early days of February, with market participants receiving discounts because of the threat of imported material, Fastmarkets heard on Monday February 4.Buyers claimed that they could get significant discounts by purchasing large volumes of certain materials, such as batches of more than 10,000 tonnes.Fastmarkets' monthly assessment of the price o...Read More
Prices in the export market for flat steel from the Commonwealth of Independent States (CIS) have increased because of low material availability, sources told Fastmarkets on Monday February 4.Fastmarkets' weekly price assessment for CIS-origin exports of HRC was $460-480 per tonne fob Black Sea on February 4, up by $15 per tonne week on week.Mills were heard to have very limited tonnages to offer...Read More
Turkey's imported flat steel volumes fell by 17.66% year on year in 2018, according to data released by the Turkish Statistical Institute (TUIK) last week.Turkey imported 6,908,686 tonnes of flat steel in January-December 2018, down from 8,390,305 tonnes in 2017.The decrease was largely due to weak demand for steel in Turkey's local market through 2018, especially in the second half of 2018, sourc...Read More
Mexico's steel industry association Canacero has demanded the renewal of a safeguarding duty of 15% imposed on imports of steel products, after it expired on January 31, it told Fastmarkets on Monday February 4.The duty was first set in October 2015, and has been renewed several times. In June 2018, the tariff was imposed on imports of products classified under 186 tariff codes, including...Read More
Import prices for rebar in Singapore were unchanged in the past week due to a seasonal lull ahead of the Lunar New Year holidays.Fastmarkets MB's import price assessment for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $460 per tonne cfr for the week to Monday February 1, unchanged from a week earlier.There was limited interest fro...Read More
Turkish deep-sea scrap import prices went up on Monday February 4 after a new cargo booking was heard, sources told Fastmarkets.A cargo came to light on Monday which was reported to have sold on Friday, but after the submission deadline for that day's indices.A steel mill in the Izmir region booked a European cargo comprising...Read More
Domestic scrap prices in Turkey have increased over the past seven days, in line with higher costs for imported scrap, sources said on Monday February 4.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap was TRY1,595-1,690 ($306-324) per tonne delivered on February 4, rising from TRY1,500-1,660 per tonne last week.https://www.metalbulletin.com/My-price-book.html?Price=...Read More
Seaborne iron ore prices were flat on Monday February 4 as the global market's biggest buyer, China, started its week-long Lunar New Year holiday.MB 62% Fe Iron Ore Index: $85.53 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $86.37 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $87.32 per tonne cfr Qingdao, unchanged. MB 58% Fe Premium Index: $78.7...Read More
The stronger currencies of China and South Africa pushed prices of UG2 chrome ore higher last week. UG2 chrome ore tick up alongside stronger yuan and randAlloy prices hold steady in ChinaAlloy prices weaken in Japan and South Korea European price range widens Alloy prices climb in US UG2 chrome ore prices rose in China on Friday February 1 due to the strengthening of the yuan and the ra...Read More
In Europe, the ferro-silicon price fell to lows last seen in February 2017 last week on suppliers competing for business from steelmakers keen to push down their feedstock prices amid weakening underlying consumption; while the domestic Chinese market dropped by 2.4% week on week amid quiet business conditions ahead of Lunar New Year. Chinese domestic and export prices drop European market...Read More
Global vanadium prices were stable to slightly firmer in the week ended Friday February 1, underpinned by fundamental tightness albeit with many Chinese players already out for the new year holidays. European vanadium prices firm as sellers see no pressure to destock Chinese markets hold steady while market winds down for Lunar New Year US ferro-vanadium price rises on deal done at high...Read More
Here are five Fastmarkets MB stories you might have missed on Monday February 4 that are worth another look.Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of the Congo, an executive at Ford said. Lead's three-month price on the London Metal Exchange surg...Read More
Turkey's imported flat steel volumes fell by 17.66% year on year in 2018, according to data released by the Turkish Statistical Institute (TUIK) last week.Turkey imported 6,908,686 tonnes of flat steel in January-December 2018, down from 8,390,305 tonnes in 2017.The decrease was largely due to weak demand for steel in Turkey's local market through 2018, especially in the second half of 2018, sourc...Read More
China's crude stainless steel output rose 3.6% to a new high in 2018, according to data released by the China Stainless Steel Council.The country produced 26.71 million tonnes of crude stainless steel last year, up 940,000 tonnes from 25.77 million tonnes a year earlier, according to the statistics released late on Thursday January 31. Of the total, 48% or 12.82 million tonnes consisted of 300-ser...Read More
Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of Congo (DRC), an executive at Ford said. Using technology by IBM and overseen by responsible-sourcing group RCS Global, Ford and its partners are working to ensure that the cobalt used in lithium-ion batteries...Read More
Prices of flat steel products in Brazil fell in the early days of February, with market participants receiving discounts because of the threat of imported material, Fastmarkets heard on Monday February 4.Buyers claimed that they could get significant discounts by purchasing large volumes of certain materials, such as batches of more than 10,000 tonnes.Fastmarkets' monthly assessment of the price o...Read More