Domestic hot-rolled coil (HRC) prices in China extended their gains on Monday August 23, buoyed by constrained production but subdued by rising inventories and persistent concerns over demand.DomesticSteel hot-rolled coil domestic, ex-whs Eastern China (Shanghai) was 5,660-5,700 yuan ($870-876) per tonne, up by 30-40 yuan per tonne from Friday August 20.The most-traded HRC contract on the Sha...Read More
Manganese ore prices at China's Tianjin port rebounded during the week to Friday August 20, supported by elevated costs and a drop in stocks after many suppliers destocked in recent weeks.Fastmarkets calculated the manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China at 34 yuan ($5.22) per dry metric tonne unit (dmtu) on Friday, up by 0.70 yuan, or 2.1%, from 33.30 yuan per dmtu...Read More
Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fastmarkets, dispelling a recent rumor that has helped to drive manganese prices to new heights worldwide.Distorted reports of an explosion some time in the week ended Friday August 13 near TMI's operations in Zhongwei, in China's Ningxia province, were heard amid...Read More
Alumina prices climbed on Monday August 23 to their highest since February 1 last year, after trading sideways for most of this month.Fastmarkets' alumina index, fob Australia, was assessed at $305.00 per tonne on Monday, up from $301.32 per tonne on August 20.A deal was reported at $305 per tonne on an fob Western Australia basis earlier on Monday. But market participants were focused on the poss...Read More
Key data from Fastmarkets' pricing session in London on Friday, August 20.Key drivers The European ferro-vanadium price weakened in the week to Friday August 20, with traders offering material at lower prices in a bid to reactivate the market and secure sales amid a slowdown in end-user inquiries. The reduction came after a period of continuing low demand and thin trading during summer doldru...Read More
Cancellation of 44,000 tonnes of copper in London Metal Exchange warehouses kept the metal's nearby price spreads in backwardation on Monday August 23, while sentiment for LME prices turned positive after a week of selling.Some 44,475 tonnes of copper were booked for removal from the Busan, Singapore and Kaohsiung warehouses on Monday, reducing the amount of metal on-warrant to 197,750 tonnes, the...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More
Increasing costs for long-term storage at the Chinese port of Tiajnin have added to the financial burdens facing alloy smelters and trading houses this year.In late December 2020, Tianjin Port Group passed a proposal to raise the ceiling level on storage charges for non-ferrous cargoes held at the largest port in northern China.From January 1, 2021, it announced, non-ferrous cargoes stored for lon...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
Alumina prices climbed on Monday August 23 to their highest since February 1 last year, after trading sideways for most of this month.Fastmarkets' alumina index, fob Australia, was assessed at $305.00 per tonne on Monday, up from $301.32 per tonne on August 20.A deal was reported at $305 per tonne on an fob Western Australia basis earlier on Monday. But market participants were focused on the poss...Read More
Key data from Fastmarkets' pricing session on Monday August 23.Key drivers The spot cobalt international metal price for both alloy and standard grades widened downward on lower offers from sellers in a quiet market, with limited buyers seeking spot units and...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
Domestic hot-rolled coil (HRC) prices in China extended their gains on Monday August 23, buoyed by constrained production but subdued by rising inventories and persistent concerns over demand.DomesticSteel hot-rolled coil domestic, ex-whs Eastern China (Shanghai) was 5,660-5,700 yuan ($870-876) per tonne, up by 30-40 yuan per tonne from Friday August 20.The most-traded HRC contract on the Sha...Read More
Turkish steelmakers skipped the first working day of the week with no deep-sea scrap trades, sources told Fastmarkets on Monday August 23.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Iskenderun region booked a United States cargo comprised of 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredde...Read More
China's domestic rebar prices moved up on Monday August 23 on strengthening demand in many parts of the country, though heavy rain continued to keep demand in a few provinces subdued. DomesticEastern China (Shanghai): 5,130-5,170 yuan ($788-794) per tonne, up by 50-60 yuan per tonneConstruction activity has increased in large parts of China, such as the eastern and northern region, on clear weathe...Read More
Cancellation of 44,000 tonnes of copper in London Metal Exchange warehouses kept the metal's nearby price spreads in backwardation on Monday August 23, while sentiment for LME prices turned positive after a week of selling.Some 44,475 tonnes of copper were booked for removal from the Busan, Singapore and Kaohsiung warehouses on Monday, reducing the amount of metal on-warrant to 197,750 tonnes, the...Read More
A summary of China's battery raw materials imports for July 2021, according to the latest Chinese customs data released on Friday August 20.In brief Imports of cobalt rose month on month despite unappealing import profits in June and July. A trader source told Fastmarkets that some cobalt arriving in a Chinese bonded warehouse in July was immediately exported again, meaning the actual amount circu...Read More
The rising cost of coking coal has led to a sharp drop in demand for iron ore lump, sources told Fastmarkets on Monday August 23.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $136.71 per tonne, down $3.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $137.22 per tonne, down $3.93 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.64 per tonne, down $2.16 per tonne65% Fe Brazil...Read More
Australia-listed IGO Limited has announced its first lithium hydroxide chemical production at Kwinana Lithium Hydroxide Refinery in Australia, it said on Monday 23 August.On 30 June, IGO completed a joint venture deal with Chinese Lithium producer Tianqi Lithium. The joint venture is 49% owned by IGO and 51% owned by Tianqi. The refinery will improve product quality to battery grade for...Read More
Turkish domestic scrap prices have continued to weaken over the past week in line with falling imported scrap values, market participants told Fastmarkets on Monday August 23.Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken throughout the week to August 23.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was...Read More