Prices for steel hollow sections in Europe remained unchanged on Wednesday July 28 while the market heads into a slower seasonal period, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,653-1,688) per tonne on July 28, unchanged week on week."The holidays are starting in the coming days, many are holding...Read More
Prices for steel billets imported to the Philippines have jumped in the week to July 28 after Chinese buying activity inflated offer prices for mills in Southeast Asia, sources told Fastmarkets.Trading activity into the Philippines had been quiet the previous week in the face of huge Chinese demand, with just one deal for Vietnamese induction furnace (IF) billet heard done at $688 per tonne cfr Ma...Read More
Base metals prices remained mixed on the London Metal Exchange at the 5pm close of trading on Wednesday July 28, with the month-end approaching and the market still waiting for signals of fresh direction from the US Federal Reserve bank."While we are very positive on the fundamentals [for copper] in the long term, we remain cautious in the short term due to the presence of macro headwinds," Fastma...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
(Updates prices) July 28 (Reuters) - Copper prices sat near six-week highs onWednesday as investors waited for details from a Federal Reservemeeting that could shift expectations for U.S. monetary policy.Wider markets, meanwhile, calmed after days of turmoilemanating from China, with global stock markets, the dollar andthe yuan steadying. Benchmark copper on the London Metal Exchange (LME)was down...Read More
Rio Tinto has committed $2.4 billion to the Jadar lithium-borates project in Serbia, which expects first saleable production in 2026, the company said.Jadar, currently one of the world's largest greenfield lithium projects, remains subject to receiving all relevant approvals, permits and licenses, plus ongoing engagement with local communities, the Serbian government and civil society.According to...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.Chinese equities under pressure again today - market worried about regulatory interventionPre-market western equity index futures showing a weaker start againBase metalsLME three-month b...Read More
Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
Nickel producers are putting an increased focus on sustainability credentials in a bid to lock in consumer demand from the automotive industry, sources told Fastmarkets.Increased scrutiny from end consumers and government policy on lower carbon emissions throughout the supply chains have nickel producers looking to highlight sustainability to secure long-term deals. Most recently, internation...Read More
More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.Global energy-related emissions must drop to 30% below 2019 levels by 2030, and to 75% below by 2040, to be on tr...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.Prices for prime scrap showed small gains, with the generation of such grades still limited by low output in the automotive sector, and demand remaining strong.Some sources reported that one scrap buyer was increasing its price f...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 27 that are worth another look.More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind...Read More
Ferrous scrap prices increased in the main Mexican markets in the week to Tuesday July 27, with some market participants expecting them to stabilize at the current levels.Prices for prime scrap showed small gains, with the generation of such grades still limited by low output in the automotive sector, and demand remaining strong.Some sources reported that one scrap buyer was increasing its price f...Read More
Teck Resources has updated its zinc concentrates production guidance for 2021, following "a strong second quarter operating performance" in its zinc business unit, the Canadian miner said in its second quarter results. At CAD 1.956 billion ($1.555 billion), net profits were up by 79% in the first half of the year.At a glance copper: Overall copper production was up by 10.8% in the first half...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday July 26, mainly due to slow activity in the market and expectations of further price declines, sources told Fastmarkets.Market participants expected the downtrend to continue while the market reacts to the imposition of an export duty on steel products from Russia. This will be in effect from...Read More
Australia-listed Jervois Mining has agreed to purchase the Freeport Cobalt refinery in Finland for $160 million from Koboltti Chemicals Holdings, it said on Tuesday July 27.The deal, Jervois said, could lead to the company growing into the world's second-largest producer of refined cobalt outside of China. Koboltti is a holding company owned by Freeport McMoRan and Lundin Mining. The...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday July 27 and their latest price moves.China Stainless steel mills in Tsingshan set their August-delivery tender price for ferro-chrome at 10,795 yuan ($1,664) per tonne, an increase of 2,400 yuan per tonne (29%) from the previous month. The tender price rise led to a sharp rise in spot prices, with dome...Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
US-based carmaker Ford is to open a new center to develop, test and build vehicle battery cells and cell arrays at Romulus, in the US state of Michigan, accelerating the company's research and development into future battery manufacturing, the company has said.The new center will be called Ford Ion Park and will be part of the company's renewed commitment to making Michigan a center for its focus...Read More