Pilbara Minerals' board has approved a staged restart at the Ngungaju lithium project, set for the December quarter of 2021, the company announced on Friday June 25.Pilbara completed the acquisition of the Altura Lithium in January, thereby becoming the 100% owner of Altura's Pilgangoora lithium project, which was promptly renamed Ngungaju. The project has been on care and maintenance since late O...Read More
Persistent tight supply continues to underpin lithium prices in Asia, as well as in Europe and the United States over the week ended Thursday June 24.Lithium carbonate and hydroxide prices in the seaborne Asian market nudged higher due to a combination of aggressive lack of availability. Lithium producers in China held offers firm, while consumers of lithium hydroxide are wary of securing units. L...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
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.United States President Joe Biden agrees a $1 trillion infrastructure deal......which should be good for metals because it focuses on upgrading roads, bridges and broadband networksBase...Read More
Chinese steelmakers are increasingly adjusting their sinter feed ratios to consist of more low-grade iron ore to go with the high-grade products they are already consuming - instead of mid-grade fines - amid rising costs and weakening margins, market sources said.The switch mirrors that in the third quarter of 2020, when low inventory levels for mid-grade fines at Chinese ports led to price increa...Read More
Aluminium stock levels on the London Metal Exchange have been steadily declining in 2021 to date and on-warrant stock levels now sit at their lowest since March 2020. After a number of cancellations and deliveries out this week, only 941,875 tonnes of aluminium are listed as on warrant - with the rest canceled and booked for delivery out. By comparison, on-warrant stocks were at well over 1.3 mill...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
The Turkish steel mills remained mostly quiet in the deep-sea scrap import markets over the week ended Friday June 25, due to limited rebar export sales, while demand from Asia was supporting exporters on the US West Coast.Turkish mills ended the working week with a single cargo dealUS West Coast scrap export market strengthened with sales to BangladeshVietnamese buyers seek cargoes from US, Austr...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices in Turkey were stable over the week to Friday June 25 while demand decreased, sources told Fastmarkets.The reason for decreasing demand was due to the upcoming summer slowdown in Europe over July and August as well as the fact that feedstock stock levels in Turkey are sufficient, sources said.Furthermore, the European Commissio...Read More
Hot-rolled coil prices increased in Turkish domestic and export markets during the week to Friday June 25, following the news that Russia could impose export duties, sources told Fastmarkets.Russia's economy ministry proposed that the government impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union (EAEU).Russia is one of the biggest flat steel e...Read More
European buyers of imported steel products are shocked by the extension of existing safeguard measures for another three years at a time when most of the industry's segments are struggling from material shortage and, consequently, high prices. European Union member states voted in the week ended June 18 in favor of a proposed extension of these measures for three years beyond their scheduled...Read More
Russia, the largest global supplier of pig iron, is likely to impose a temporary tax on exports of non-ferrous metals, including pig iron, sold outside the Eurasian Economic Union (EAEU).Russia's economy ministry has proposed that the government impose temporary export duties between August 1 and December 31, 2021. The final decision must be before June 30, because Russian law requires a month bet...Read More
Prices for shredded steel scrap imported into India and Pakistan have moved down over the past week on poor demand, sources told Fastmarkets on Friday June 25.Fastmarkets' calculation of the steel scrap shredded, index, import, cfr Nhava Sheva, India, was $524.57 per tonne on June 25, down from $531.17 per tonne on June 22 and $533.93 per tonne on June 18.Deal levels this week ranged widely, from...Read More
European Metal Recycling (EMR) will commit to a net zero carbon emissions target across all three emission scopes, the company said on June 24.EMR aims to be carbon neutral by 2040 across scopes 1, 2 and 3 of relevant greenhouse gas emissions, and to provide its customers with traceability of its materials across the supply chain.EMR's goal is to reach net zero for indirect emissions created by th...Read More
Steel mills in India reduced the price of hot rolled coil exports to Southeast Asia by as much as $50 per tonne in the week to Friday June 25, with official offers down to $940-950 per tonne fob Indian ports.According to market participants, however, buyers in Southeast Asia are considering HRC prices closer to $880-890 per tonne fob Indian ports for mid-July- August shipment.Fastmarkets' price as...Read More
Indian domestic prices for secondary steel billet fell by 1,000 rupees ($13) per tonne in the week ended Friday June 25, in line with similar price dips for finished products such as rebar, Fastmarkets has heard.The price of steel billet, domestic, ex-works India, was assessed by Fastmarkets at 41,300-41,500 rupees ($557-559) per tonne on Friday, compared with last week's assessment at 42,300-42,5...Read More
The United States' pig iron import market fell in the latest bookings during the week to Friday June 25, although a rebound may come on the threat of reduced supply from Russia if a proposed export tax is implemented.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $645-655 per tonne on Friday, down from $650-665 per tonne a week earlier.One booking of Russia-origin...Read More
The pig iron export market in Brazil remained muted in the week to Friday June 25 due to continuing long lead times, but demand is expected to pick up if Russia implements a pig iron export tax in the coming weeks, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $620 per tonne on Friday, unchanged week on week.The market remained ina...Read More
The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which are set to take effect from August 1 through December 31, according to an official government decree. The duties, which are intended to control inflation of metal prices domestically, are expected to raise approximately 160 million rubles ($2.2...Read More
Customer requirements and financing will shape the decarbonization of the steel industry, panelists said at Fastmarkets' 2021 Steel Success Strategies Industry Briefing earlier this week.The steel industry is not shaping decarbonization - instead, external forces are driving it, McKinsey & Co partner Benedikt Zeumer said on Tuesday June 24."Customer requirements will bolster industry to reduce the...Read More