Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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.Fastmarkets...Read More
Spot rebar import prices in Singapore widened downward during the week to Monday July 26 on the return of Indian material in the spot market, sources told Fastmarkets.An Indian rebar cargo was offered by a trader at $740-745 per tonne cfr Singapore, although this was not met by any interest from Singaporean buyers.There were also offers for Middle Eastern rebar at $750-755 per tonne cfr Singapore...Read More
A summary of China's battery raw materials exports for June 2021.In brief Exports of cobalt tetroxide increased both month on month and year on year in June amid rising buying appetite from South Korea, the Netherlands and Belgium.Lithium carbonate exports fell slightly on a monthly...Read More
China's leading stainless steel producer, Tsingshan Group, has set its tender price for August-delivery ferro-chrome at 10,795 yuan ($1,665) per tonne, the company announced on Monday July 26. This is its highest tender price since September 2008.The tender price is also 2,400 yuan per tonne (29%) than what the eastern Chinese mill had sought for July-delivery material.Supply interruptions Market...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
Iron ore prices edged up on Monday July 26 due to higher steel prices, while news of production cuts in China affected the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.74 per tonne, up by $1.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.93 per tonne, up by $1.07 per tonne58% Fe fines high-grade premium, cfr Qingdao: $167.65 per tonne, up b...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.Fastmarkets...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
Base metals prices on the Shanghai Futures Exchange were up by an average of 1.1% this morning, Monday July 26, while they followed Friday's gains on the London Metal Exchange that averaged 1.3%. Chinese equities under pressure after authorities tighten regulationsPre-market western equity index futures showing a weaker startBase metalsLME three-month base metals prices were mainly weaker this mor...Read More
Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...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 intervention* Pre-market western equity index futures showing a weaker start againBase metalsLME thre...Read More
Norway-based aluminium and renewable energy producer Norsk Hydro hopes to increase annual earnings by as much as 1.1 billion krone ($124 million) through investments into recycling and the use of post-consumer scrap, according to chief financial officer P??l Kildemo.Kildemo was speaking to Fastmarkets in an exclusive interview on Friday July 23, after Hydro announced its second-quarter results.The...Read More
Rio Tinto is cutting production at its BC Works aluminium smelter in Kitimat, Canada, to just 35% of its annual capacity, after workers went on strike following failed labor contract negotiations.That would bring production at the 432,000-tonnes-per-year smelter to just over 150,000 tonnes."We will continue to look for longer-term solutions with the union and work closely with customers and suppli...Read More
China's domestic rebar prices maintained their upward trend on Monday July 26 on replenishment demand from trading houses, but end user demand remained weak, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,340-5,370 yuan ($823-828) per tonne, up by 70-80 yuan per tonneTrading houses purchased actively on Monday because they expect rebar prices to rise due to likely production res...Read More
Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...Read More
Hot-rolled coil prices in the United States remained below $91 per hundredweight ($1,820 per short ton) for the second business day in a market that has reported a small increase in spot volume trade in the last week.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.61 per hundredweight ($1,812.20 per short ton) on Monday July 26, down 0.21% from $90.80 per cwt on F...Read More
Copper's three-month price on the London Metal Exchange rose to $9,809.50 per tonne at the close of trading on Monday July 26, an increase which led most other prices in the complex higher as well.The red metal closed near its intraday high of $9,826.50 per tonne, the highest for copper since June 15. Intense buying took its volumes on Monday to 24,000 lots traded by 5pm, also the highest since th...Read More
Here are five Fastmarkets stories you might have missed on Monday July 26 that are worth another look.China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.Norway-based aluminium and renewable...Read More
China's drive to achieve peak carbon by 2030 and carbon neutrality by 2060 will likely mean a higher steel industry concentration ratio in time, sources told Fastmarkets.This means that the share of total crude steel production by major steel producers will increase, leading to low-carbon steel production via unified research, development efforts for low-carbon technology and improved production e...Read More