The price of technical-grade lithium carbonate in China rose for the second time since mid-June this week, amid active trader restocking, thereby improving sentiment in the battery-grade chemicals market, sources told Fastmarkets.Fastmarkets' lithium carbonate 99% Li2CO3 min, technical and industrial grade, spot price range exw domestic China edged up to 79,000-80,000 yuan ($12,189-12,344) per ton...Read More
Indian domestic hot-rolled coil prices have corrected by about 1,500 rupees ($20) per tonne after incentives were offered by steel mills to distributors in the face of poor demand for HRC.Fastmarkets' price assessment for steel HRC, domestic ex-warehouse India was 67,000-69,000 rupees ($899-926)per tonne on July 2, down from last week's 68,500-70,500 rupees per tonne. "Price support has been offer...Read More
The United States' pig iron import market was muted during the week to Friday July 2 because buyers preferred to wait to see the effects on the market of the announcement of an export duty by Russia.Russia is the largest global pig iron supplier. It intends to impose a temporary export duty on pig iron at the level of 15% but no less than $115 per tonne, to be effective from August 1 until Decembe...Read More
With automakers switching to producing vehicles with batteries reliant on metals such as cobalt and lithium, the expectation for lead has been that prices will follow the downward fortunes of the internal combustion engine.But recently that has not been the case; lead's cash price on the London Metal Exchange reached a three-year high of $2,368 per tonne on Wednesday June 30, crowning nine straigh...Read More
Hot-rolled and cold-rolled coil prices decreased in Turkey during the week ending Friday July 2 before the long holiday starts in the country on July 15, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-24 will be the Ei al-Adha holiday, so market participants expect reduced activity in the second half of July.Low priced sales from Russia to several destinations during the w...Read More
Prices for shredded steel scrap imported into India and Pakistan rose in the week to Friday July 2, with trading activity focusing on the Pakistan market over India. In the Pakistan imported scrap market, sellers achieved higher shredded prices this week following solid rebar sales. Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $539.51 per...Read More
European Metal Recycling (EMR) is to transform its dock operations in Scotland with a multi-million-pound development that will make it more competitive and reduce carbon emissions, the company announced on Monday June 28.The 11.5-acre site at Berth 10 of the West Quay at Glasgow's King George V dock will be EMR's most innovative deep-sea dock in the UK, allowing the company to transfer material i...Read More
Aluminium and copper prices on the London Metal Exchange remained firm during morning trading on Friday July 2 amid low-volume trading. The three-month aluminium price was most recently at $2,527 per tonne, up by $15 per tonne from $2,512 per tonne at the close of trading on Thursday. The contract has trading in a tight range of $2,506-2,527 per tonne on Friday morning. LME aluminium stock levels...Read More
The price of 18/8 (grade-304) stainless steel scrap in UK and Europe was unchanged this week because of relatively stable nickel costs, Fastmarkets heard on Friday July 2.Fastmarkets' weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,200-1,250 ($1,655-1,724) on July 2, unchanged week on week.The three month London Metal Exchange price of...Read More
Turkish deep-sea scrap import prices fell at the end of the week after a fresh cargo from the Baltic Sea came to light, market participants told Fastmarkets on Friday July 2.A steel mill in the Izmir region booked the Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $495 per tonne and 5,000 tonnes of bonus at $510 per tonne cfr, late on Thursday July 1.This was fourth the deep-sea...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
A flurry of low-priced transactions for Russian hot-rolled coil into Vietnam during the week to Friday July 2 has shocked market participants in Asia, causing prices to fall and depress sentiment, sources told Fastmarkets.The deals follow Russia's announcement on June 24 that it would impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union from Aug...Read More
Turkey secured up a fourth deep-sea steel scrap purchase at a discount, compared with its previous three previous cargo buys, in the week to Friday July 2, while activity in other global markets was comparatively subdued.Turkey secured four deep-sea cargoes, from Europe and the United StatesUS exporters kept export prices above $500 per tonne; international mills were forced to compete with the vi...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
Spot activity in the Vietnamese ferrous scrap import market remained extremely thin amid poor demand from steel mills, sources told Fastmarkets.There was a transaction confirmed for an August-shipment cargo at $484 per tonne cfr southern Vietnam, against offers at $490-500 per tonne cfr Vietnam.Bids were at $480 per tonne cfr Vietnam."It is very, very quiet this week because of the large bid-...Read More
Turkish deep-sea scrap import prices fell at the end of the week after a fresh cargo from the Baltic Sea came to light, market participants told Fastmarkets on Friday July 2.A steel mill in the Izmir region booked the Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $495 per tonne and 5,000 tonnes of bonus at $510 per tonne cfr, late on Thursday July 1.This was fourth the deep-sea...Read More
Most base metal inventories in Shanghai Futures Exchange-registered warehouses dropped in the week to Friday July 2, with zinc registering the largest fall in percentage terms at 8% week on week.Zinc inventories fell by 2,824 tonnes on Friday to 32,490 tonnes, with the largest outflow from the Quansheng Logistics warehouse in Shanghai, where stocks were down by 2,852 tonnes to 12,604 tonnes, accor...Read More
Expensive logistics, uncertainty about the recently announced Russian export tax and generally strong fundamentals pushed global aluminium billet premiums to fresh all-time highs in the week ended Friday July 2.Europe premiums hit all-time highs, with expectations of further increasesThailand billet premium rises on tight regional supplyExpensive US freight drives premiums upwardPremiums in Brazil...Read More
China's leading stainless steel producer, Tsingshan Group, has raised its tender prices for July-delivery ferro-chrome by 950 yuan ($147) per tonne from that for the preceding month, the company said on Friday July 2.The eastern China-based mill set its tender price for July-delivery high-carbon ferro-chrome at 8,395 yuan per tonne. The latest tender price is 12.76% higher than the 7,445 yuan per...Read More
Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Total nonfarm payroll empl...Read More